Brendan Wood International Investor Conviction Intel – Pipelines and Utilities
New York, NY, May 18th, 2023 (TopGun Press)
Below are the most in-demand Pipelines and Utilities Stocks based on our daily chats with global investors. Below is a link to the Investor Conviction Intel on TC Energy.
NextEra Energy – The company continues to enjoy strong investor confidence despite turnover last year in their management team. Although the sector is currently experiencing some short-term challenges, investors maintain a high level of trust in NextEra’s corporate strategy and the management team’s execution capabilities.
TC Energy – There is uncertainty among investors as to what the company needs to do in order to execute. Coastal GasLink is still a major talking point for investors. Investors would like the company to be more conservative in terms of the projects they undertake instead of always going for the big home run like Keystone XL. The balance sheet is a concern for investors who would prefer to see TC Energy less levered than they currently are. (Click Here for Investor Conviction Intel on TC Energy)
Energy Transfer – Momentum in Energy Transfer is quite strong in light of their newly increased dividend. Confidence in the management group has seen a meaningful rise, and the commitment to own continues to rank among the best in the sector. Investors point towards their fundamentals as a strong reason they have conviction in owning the name. Two things investors would like to see are, a greater amount of independence on the Board of Directors, and for the management team to stop talking about petrochemicals on calls and/or at meetings.
Williams Companies – The Board of Directors is seen as a sore spot at Williams Companies. The company is expanding however investors are skeptical about this management group, and whether the Board has done a sufficient job holding the management group accountable for their actions.
Pembina Pipeline – Sentiment is quite high for Scott Burrows and team at Pembina Pipeline. Their patience and conservatism with their balance sheet has resonated well with the investment community, and has given the team credibility. Investors see the recent approval of Cedar LNG as a catalyst for the story.
Capital Power – It is evident in our calls with investors that Capital Power’s management team is looked at through a favorable lens. The recent appointment of Avik Dey as the new CEO has been received as a positive and perhaps might offer a different strategic vision for Capital Power.
Largest CEO Confidence Score Changes (Quarter over Quarter) (YE4Q2022 vs. YE1Q2023):
NuStar Energy LP = +27%
AVANGRID = +21%
Targa Resources Corp. = +14%
PPL Corp. = +12%
DTE Energy = +10%
Exelon Corp. = -21%
Algonquin Power & Utilities Corp. = -9%
Eversource Energy = -3%
Oneok Inc. = -3%
Enbridge Inc. = -3%
Largest Board Confidence Score Changes (Quarter over Quarter) (YE4Q2022 vs. YE1Q2023):
Boralex Inc. = +12%
Hydro One Ltd = +7%
Kinder Morgan = +5%
Sempra Energy = +5%
Fortis Inc = +5%
DTE Energy = -17%
Consolidated Edison Inc. = -13%
Williams Companies, Inc = -8%
Algonquin Power & Utilities Corp. = -8%
Innergex Renewable Energy Inc = -7%
Sell-Side Analysts Being Paid for Pipelines and Utilities Coverage from Global Investors:
US Pipelines Sell-Side Analysts:
1. Michael Blum – Wells Fargo
2. Jean Ann Salisbury – Morgan Stanley
3. Alex Kania – Wolfe Research
4. Jeremy Tonet – JP Morgan
5. Spiro Dounis – Credit Suisse
US Utilities Sell-Side Analysts:
1. Steven Fleishman – Wolfe Research
2. Julien Dumoulin-Smith – Bank of America
3. Andrew Weisel – Scotia Capital
4. James Thalacker – BMO Capital Markets
5. Shelby Tucker – RBC Capital Markets
Canadian Pipelines and Utilities Sell-Side Analysts:
1.Robert Kwan – RBC Capital Markets
2. Ben Pham – BMO Capital Markets
3. Robert Hope – Scotia Capital
About Brendan Wood International:
Brendan Wood International (BWI), formed in 1970, is a private advisory group which originates performance investigation programs in the capital markets. Brendan Wood Partners debrief large institutional investors worldwide on a daily basis. There are 2000+ live consultations with professionals overseeing +/- $55 trillion invested in the +/- 1400 big cap companies on the BWI Index. Relying on its real time performance intelligence, BWI advises public companies, institutional and activist investors, investment banks and broker dealers on strategy, performance and recruitment of TopGun talent. The firm’s partners have formally presented at 1000+ C level strategy meetings and corporate off-sites in fifty cities. Brendan Wood founded the exclusive TopGun Club, a performance based institution. Brendan Wood International is the exclusive Index Provider to the AXS Brendan Wood TopGun Index ETF (Ticker: TGN)
Disclaimer:
We wish to emphasize that all reports, evaluations and assessments contained herein, represent Brendan Wood International’s subjective judgment and opinions, based on our years of experience and on information obtained by us in the course of our research. Much of the factual information contained in the reports has been obtained by us from third parties on whose responses we have relied in good faith, independent verification by Brendan Wood International being, under the circumstances, impossible. While we believe that you will find our reports to be an invaluable tool in formulating your own strategies and judgments, the foregoing should be borne in mind. This report is not meant as investment advice and should not be interpreted as advising on the value of a company’s securities, the advisability of investing in, purchasing or selling any company’s securities or any other conclusion relating to investment/divestiture of a company’s securities. Finally, this report is not intended as an offer or solicitation for the purchase or sale of any company’s securities.
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Partner
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+1 416 924 8110
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