Category Archives: Utilities
2021 Market Outlook – Part 2: S&P 500 Sector Analysis
2020 was of course dominated by the impact of the pandemic on the economy and specifically on the revenues and profits of each of the S&P 500 constituents. There was a sharp stock market sell-off in March-April, followed by a … Continue reading
NJR Adjusts to Meet Its Challenges and Opportunities
Under new CEO Steve Westhoven, the business portfolio of New Jersey Resources (NJR) has evolved as it typically does in response to changes in its operating environment. Its regulated utility operations, New Jersey Natural Gas (NJNG) and its Midstream segment, … Continue reading
American Water Works (AWK) 2019 Update
American Water Works Company (AWK) has delivered superior operating, financial and stock price performance over the past eight years. Its 2018 performance did not match the eight year average in either absolute or relative terms. However, management is confident in … Continue reading
SJI Outlines Its Vision
SJI’s stock has underperformed peers due in part to disappointing guidance for 2018 given at its recent analyst meeting. However, if management is able to deliver on its 2019 guidance, the stock should have reasonable upside, especially since it is trading at a discount to its peer group. Continue reading
Consolidated Water 18Q1 Update
CWCO reported first quarter net earnings attributable to stockholders $2.1 million or $0.14 cents per diluted share. That compares with 17Q1 net income of $2.6 million or $0.18 per diluted share. Revenues declined 2.2% to $15.7 million.
PSEG Dances to Stay Fit
Public Service Enterprise Group (PSEG) is a public utility holding company whose principal direct operating subsidiaries include Public Service Electric & Gas (PSE&G), which serves 2.2 million electric customers and 1.8 million gas customers along a northeast to southwest swath … Continue reading
Lack of Comprehensive Energy Policy May Prove Costly to U.S.
Last week, I attended the annual presentation of the American Gas Association (AGA) to the New York Society of Security Analysts (NYSSA). The AGA represents companies that deliver natural gas to residential, commercial and industrial customers across the U.S. The … Continue reading
Update on Consolidated Water (CWCO)
Shares of Consolidated Water (CWCO) have struggled over the past several months, extending a period of underperformance vs. peers that stretches back for more than a year. Year-to-date (through 12/9), CWCO has posted a loss (including dividends) of 6.4%. That … Continue reading
A Quick Look at Connecticut Water (CTWS) and American States Water (AWR)
Recently, at the Three Part Advisors East Coast IDEAS Conference, I had the opportunity to sit in on the presentations given by two water utility companies, Connecticut Water Service (CTWS) and American States Water (AWR).
The Coal Industry Goes Bust
Very few industries have suffered a decline as steep as coal’s. In just five years, the coal industry has gone from relatively healthy to almost entirely bankrupt. Major coal producers – including Peabody Energy, Arch Coal, and Alpha Natural Resources … Continue reading