The Pipelines, Utilities and Alternative Energy sector has experienced considerable volatility in the first half of the year. Below we have highlighted some of the most topical Pipelines, Utilities and Alternative Energy stocks in the BWI Shareholder Confidence Index based on our daily conversations.
NextEra Energy: Ownership conviction is increasing. Investors who own NextEra are highly confident in management, and rate them amongst the top management teams in the space. They say management has done a good job “dispelling fears” around the strategy and have confidence in the growth potential, particularly in the renewable energy assets. Non-buyers of NextEra are less excited about the near-term momentum, as they say the stock has already rallied. They lack confidence in further price appreciation potential and have some concerns about the balance sheet.
Cheniere: Although both owners and non-owners of Cheniere see the next 12 months as an “air pocket” year, ownership conviction toward Cheniere is now increasing, in-line with peers. Owners of Cheniere rate the CEO, Jack Fusco, as a “rock-star” and say there are good people behind the scenes. According to these investors Cheniere has a strong long-term growth rate and an attractive valuation compared to peers.
Northland Power: Ownership conviction is declining. 40% of the BWI 2Q Panel reported owing the name, down from 45% in 1Q. 20% of the 2Q Panel were negative compared to 9% in 1Q. Some owners say Northland Power has projects that could potentially set them up for significant long-term growth. However, both owners and non-owners say the management turnover, poor succession planning, concerns about capital and uncertainty about their strategy create execution risk and are major impediments to ownership. Investors are looking for Northland Power to stabilize their leadership and define their future plans. For now, the company remains a “show-me” story in the eyes of investors in the space.
According to institutional investors, the following companies showed the largest increases in Investment Quality in the Pipelines, Utilities and Alternative Energy space, YE 2Q 2024 vs YE 1Q 2024:
FirstEnergy Corp. +8.7%
PNM Resources Inc. +4.6%
Dominion Energy, Inc. +4.3%
Iberdrola SA +4.3%
Oneok Inc. +4.3%
Enel SpA +3.9%
Consolidated Edison Inc. +3.6%
Hydro One Ltd +2.7%
Brookfield Renewable Energy Partners +2.3%
AltaGas Ltd +2.2%
If you would like to subscribe to the BWI Shareholder Confidence Intel including full reports on individual companies with verbatim please see contacts below.
Click here for the Investor Conviction Intel for Pipelines and Utilities April 2024
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. Relying on its real time intelligence, BWI advises public companies, institutional and activist investors, investment banks and broker dealers on strategy, performance and recruitment of TopGun talent. Big cap companies looking for comprehensive investor confidence data on their organizations are likely to discover that Brendan Wood partners consult with their investors non stop year round. There are 2000+ live consultations with investment professionals overseeing +/- $60 trillion invested in the +/- 1400 big cap companies on the BWI Index. Investors depend on BWI to quantify the demand side of the investment industry, including the name by name research sales and trading professionals who influence investor demand. 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.
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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Contacts:
Gerso Pelaez
Field Director – Real Estate/REIT, Pipelines, Utilities & Renewables
Brendan Wood International
+1 416 924 8110
gpelaezherrera@brendanwood.com
Jordan Novak
Partner
Brendan Wood International
+1 416 924 8110
jnovak@brendanwood.com
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