Barclays (NYSE:BCS) said it has maintained its "Equalweight" rating on Constellation Energy (NYSE:CEG), while raising their earnings per share range.
"Raising our 2012 EPS to $2.30 from $2.14 and our 2013E is $3.00. We believe the prospects for NewEnergy at a range of $1.00-$1.40 for 2012 produces a range of $2.10-$2.50 for CEG. Getting to the higher end of the range requires $5/mwhr margins on Retail and $3/Mwhr for Wholesale including $0.50/MWhr of portfolio management. A mix shift to larger accounts also helps to control costs. We also include Boston Gen in our forecast starting in 2011."
Constellation closed Thursday at $32.04, gaining $0.04, or 0.13 percent. Volume was down from the 3-month average.
Showing posts with label Constellation Energy. Show all posts
Showing posts with label Constellation Energy. Show all posts
Friday, September 24, 2010
Tuesday, September 21, 2010
Citigroup (NYSE:C) Says Comverge Likely (Nasdaq:COMV) Target
The recent announcement that Constellation Energy (NYSE:CEG) would be acquiring CPower has Citigroup (NYSE:C) thinking Comverge (Nasdaq:COMV) could very well become a takeover target.
Comverge has plummeted in value in just a couple short months, dropping at times almost 40 percent since the latter part of July.
The inability to control operating costs has been the major problem with Comverge, and if a company were to acquire them with the will and ability to cut costs, said Citigroup, they would probably be able to turn that around.
Possible suitors according to Citi are Progress Energy (NYSE:PGN), RRI (NYSE:RRI), Allegheny Energy (NYSE:AYE), Calpine (NYSE:CPN), or even Constellation Energy.
Citi maintains their "Hold" rating on Comverge, while dropping their price target from $13 to $8 a share. Comverge closed Monday at $6.90, gaining $0.30, or 4.55 percent.
Volume was almost four times the 3-month average of 153,639, ending the day at 605,402.
Comverge has plummeted in value in just a couple short months, dropping at times almost 40 percent since the latter part of July.
The inability to control operating costs has been the major problem with Comverge, and if a company were to acquire them with the will and ability to cut costs, said Citigroup, they would probably be able to turn that around.
Possible suitors according to Citi are Progress Energy (NYSE:PGN), RRI (NYSE:RRI), Allegheny Energy (NYSE:AYE), Calpine (NYSE:CPN), or even Constellation Energy.
Citi maintains their "Hold" rating on Comverge, while dropping their price target from $13 to $8 a share. Comverge closed Monday at $6.90, gaining $0.30, or 4.55 percent.
Volume was almost four times the 3-month average of 153,639, ending the day at 605,402.
Monday, August 23, 2010
Goldman Sachs (NYSE:GS) Newest Nuclear Power
With the acquisition of the commodities-trading operations of Constellation Energy Group (NYSE:CEG) in 2009, Goldman Sachs (NYSE:GS) became the recipient of a stash of uranium.
Nuclear reactors are becoming a fast and growing part of the strategy of many nations to provide energy, and uranium is becoming a hot commodity in a way it hasn't been for a long time.
Dozens, and more, of new reactors have been targeted for being built, and now the question of uranium supply is in the forefront of many people's minds, as a renewed race for nuclear energy emerges.
Goldman's uranium supply has drawn the interest of a growing number of entities, especially some of their larger clients, underscoring the quiet but growing fight for supply.
In regard to that, uranium companies have received significant investment over the last quarter, in anticipation of what will eventually become a perfect supply and demand situation where supply won't be able to keep up with demand, which will push up the price of uranium and companies that supply it.
I wonder if Goldman will sell now or hold on until the demand part of the equation soars?
Nuclear reactors are becoming a fast and growing part of the strategy of many nations to provide energy, and uranium is becoming a hot commodity in a way it hasn't been for a long time.
Dozens, and more, of new reactors have been targeted for being built, and now the question of uranium supply is in the forefront of many people's minds, as a renewed race for nuclear energy emerges.
Goldman's uranium supply has drawn the interest of a growing number of entities, especially some of their larger clients, underscoring the quiet but growing fight for supply.
In regard to that, uranium companies have received significant investment over the last quarter, in anticipation of what will eventually become a perfect supply and demand situation where supply won't be able to keep up with demand, which will push up the price of uranium and companies that supply it.
I wonder if Goldman will sell now or hold on until the demand part of the equation soars?
Wednesday, August 4, 2010
Citigroup (NYSE:C) Lowers Constellation Energy (NYSE:CEG) Earnings, Price Target
The price target of Constellation Energy Group (NYSE:CEG) was slashed by Citigroup (NYSE:C) from $36 a share to $34 a share, said Citi analysts in a note to clients. Earnings per share were also knocked down in range.
“We are lowering our EPS estimates to $3.40 and $2.46 from $3.42 and 2.88, respectively. Our adjustments stem from marking to market and higher interest expense than prior forecasts. Our EPS assumptions include a YOY retail drag of a similar size as the analysis included in this note (we have higher margins, but lower volumes)," said analyst Brian Chin.
Constellation just sold its California geothermal facility, Mammoth, to Ormat Technologies for $72.5 million. Constellation had a 50 percent stake in the project.
There were no specifics as to what the capital would be used for, other than strategic priorities.
“We are lowering our EPS estimates to $3.40 and $2.46 from $3.42 and 2.88, respectively. Our adjustments stem from marking to market and higher interest expense than prior forecasts. Our EPS assumptions include a YOY retail drag of a similar size as the analysis included in this note (we have higher margins, but lower volumes)," said analyst Brian Chin.
Constellation just sold its California geothermal facility, Mammoth, to Ormat Technologies for $72.5 million. Constellation had a 50 percent stake in the project.
There were no specifics as to what the capital would be used for, other than strategic priorities.
Friday, May 28, 2010
Constellation Energy (NYSE:CEG) Declares Quarterly Dividend
The board of directors of Constellation Energy (NYSE:CEG) have declared a quarterly dividend of $0.24 a share, or $0.96 a share annualized.
Yield for the dividend, which is payable to shareholders of record at the close of business on June 10, 2010, on July 1, 2010, is 2.7 percent.
A motion to separate the roles of chairman and CEO Mayo A. Shattuck III was rejected at Friday's annual shareholder meeting,
Norges Bank, the central bank of Norway, had initiated the motion, which Constellation had advised their shareholders to reject.
Two-thirds of shareholders would have had to vote for the change in order for it to be enacted.
Yield for the dividend, which is payable to shareholders of record at the close of business on June 10, 2010, on July 1, 2010, is 2.7 percent.
A motion to separate the roles of chairman and CEO Mayo A. Shattuck III was rejected at Friday's annual shareholder meeting,
Norges Bank, the central bank of Norway, had initiated the motion, which Constellation had advised their shareholders to reject.
Two-thirds of shareholders would have had to vote for the change in order for it to be enacted.
Sunday, April 18, 2010
Constellation Energy (NYSE:CEG) Earnings Should Jump
Constellation Energy Earnings Estimate
In a couple of weeks Constellation Energy (NYSE:CEG) will release it quarterly report, and revenue should stay flat, but earnings per share should increase for the quarter.
Last year for the same quarter Constellation generated $4.3 billion in revenue, with the same numbers expected to be posted this quarter. Earnings per share last year came to $0.75 a share, while this year they are expected to have a nice jump to $1.01 a share.
On an annual basis, earnings per share is expected to come in at about $3.26 a share, according to analysts.
The earnings report for is Constellation Energy is scheduled for $3.26.
In a couple of weeks Constellation Energy (NYSE:CEG) will release it quarterly report, and revenue should stay flat, but earnings per share should increase for the quarter.
Last year for the same quarter Constellation generated $4.3 billion in revenue, with the same numbers expected to be posted this quarter. Earnings per share last year came to $0.75 a share, while this year they are expected to have a nice jump to $1.01 a share.
On an annual basis, earnings per share is expected to come in at about $3.26 a share, according to analysts.
The earnings report for is Constellation Energy is scheduled for $3.26.
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