Deep Dives - Utilities & Power

Date Ticker Title Vertical Rating (at time of publication)
11.24.2020 PCG
  • PCG: CPUC turns up the heat
  • Utilities & Power Buy
    11.22.2020 CMS
  • Utilities & Power: Utility Spotlight: relative gains eroding; peak PMI pressure; PJM auction schedule; other PCG news
  • Utilities & Power N/A
    11.18.2020 CMS
  • CMS: After Patti
  • Utilities & Power Buy
    11.18.2020 PCG
  • PCG: Right leader, right time
  • Utilities & Power Buy
    11.17.2020 SRE
  • SRE: Recalibrating for recent events
  • Utilities & Power Hold
    11.15.2020 CMS
  • Utilities & Power: Utility Spotlight: Value joins the party; SRE franchise intrigue; PEG catalyst update; PCG CEMA vote pending
  • Utilities & Power N/A
    11.13.2020 DTE
  • DTE: Moving away from sum-of-parts
  • Utilities & Power Hold
    11.08.2020 CMS
  • Utilities & Power: Utility Spotlight: Rally interrupted; electric ROEs make new low; PCG responds to Alsup
  • Utilities & Power N/A
    11.05.2020 NRG
  • Utilities & Power: Vertical views: DUK, NRG and SRE earnings wrap
  • Utilities & Power N/A
    11.04.2020 VST
  • VST: New segments, same value story
  • Utilities & Power Buy
    11.03.2020 EXC
  • EXC: Growing apart
  • Utilities & Power Buy
    11.03.2020 EXC
  • EXC: Beat and raise first take; separation bug confirmed
  • Utilities & Power Buy
    11.02.2020 NEP
  • NEP: Priming the pump
  • Utilities & Power Buy
    11.01.2020 CMS
  • Utilities & Power: Utility Spot-Lite: Six straight weeks; PCG safety certification; last orders for EEI
  • Utilities & Power N/A
    11.01.2020 PEG
  • PEG: Plenty to talk about; raising PT on SOTP update
  • Utilities & Power Hold
    10.30.2020 CMS
  • CMS: De-risking the outlook
  • Utilities & Power Buy
    10.29.2020 PCG
  • PCG: Firming up the growth outlook
  • Utilities & Power Buy
    10.28.2020 ETR
  • ETR: Bracing for Zeta
  • Utilities & Power Hold
    10.27.2020 EIX
  • EIX: No news is good news
  • Utilities & Power Buy
    10.27.2020 DTE
  • DTE: Pivot confirmed
  • Utilities & Power Hold
    10.26.2020 EIX
  • Utilities & Power: Cali Wildfire Bulletin: EIX files on fast-moving Silverado Fire; PCG responds on Zogg
  • Utilities & Power Buy
    10.25.2020 CMS
  • Utilities & Power: Utility Spotlight: Back in the black YTD and 24M P/E parity; CMS and PCG get rate case PDs
  • Utilities & Power N/A
    10.23.2020 PCG
  • PCG: Quick takes on GRC Proposed Decision
  • Utilities & Power Buy
    10.23.2020 CMS
  • Utilities & Power: EEI Financial Conference 2020: Updated List
  • Utilities & Power N/A
    10.22.2020 NEE
  • NEE: Two steps forward, one step back
  • Utilities & Power Hold
    10.21.2020 NEP
  • NEP: Growth outlook intact despite 3Q headwind
  • Utilities & Power Buy
    10.20.2020 PCG
  • PCG: Room for improvement
  • Utilities & Power Buy
    10.18.2020 CMS
  • Utilities & Power: Utility Spotlight: Value names start to stir; PCG settles FERC ROE while CPUC calls RDM on interim rates
  • Utilities & Power N/A
    10.16.2020 NEP
  • NEP: Upgrading to Buy and raising PT; renewables growth engine with best-in-class sponsor
  • Utilities & Power Buy
    10.16.2020 CMS
  • Utilities & Power: 3Q preview and mark; election and M&A/strategy in focus; upgrading NEP to Buy; reshuffling top picks
  • Utilities & Power N/A
    10.13.2020 EIX
  • EIX: SCE files Bobcat Fire update; cause still under investigation but potential exposure seems limited
  • Utilities & Power Buy
    10.12.2020 EXC
  • EXC: Catching the separation bug?
  • Utilities & Power Buy
    10.11.2020 CMS
  • Utilities & Power: Utility Spotlight: Rally builds up steam; PG&E files Zogg Fire EIR; DUK raises its ESG game ... we raise our PT
  • Utilities & Power N/A
    10.09.2020 CMS
  • Utilities & Power: EEI Financial Conference 2020: Updated List
  • Utilities & Power N/A
    10.08.2020 DTE
  • DTE: Contemplating a pivot?
  • Utilities & Power Hold
    10.04.2020 CMS
  • Utilities & Power: Utility Spotlight: Relative gains continue; PCG wildfire expense filing; PEG looking for Round 2 of ZECs
  • Utilities & Power N/A
    10.01.2020 CMS
  • Utilities & Power: Spotlight Chart Book: NEE-DUK valuation spread; hydrogen talk ramping up; California CCM redux
  • Utilities & Power N/A
    09.30.2020 DUK
  • Utilities & Power: Mega-deal in the making?
  • Utilities & Power N/A
    09.29.2020 CMS
  • Utilities & Power: EEI Financial Conference 2020: Meeting List
  • Utilities & Power N/A
    09.29.2020 VST
  • VST: Not going away; VST lays out transition plans
  • Utilities & Power Buy
    09.27.2020 CMS
  • Utilities & Power: Utility Spotlight: Winning week; EIX WEMA approved; PCG lock-ups expiring; what to expect from VST
  • Utilities & Power N/A
    09.25.2020 ETR
  • ETR: Playing up the transition narrative
  • Utilities & Power Hold
    09.24.2020 ETR
  • ETR: First take: Growth update largely as expected ... but with higher bill inflation and equity needs
  • Utilities & Power Hold
    09.23.2020 EIX
  • EIX: Bring on the best estimate
  • Utilities & Power Buy
    09.22.2020 EIX
  • Utilities & Power: CPUC meeting preview; EIX and SRE items on deck;PD issued for PCG interim rates
  • Utilities & Power N/A
    09.20.2020 CMS
  • Utilities & Power: Utility Spotlight: September gains; BP bets big on clean integration; thoughts on NEE equity units
  • Utilities & Power N/A
    09.16.2020 CMS
  • Utilities & Power: Day trip to Lansing, 2020-style
  • Utilities & Power N/A
    09.15.2020 NEE
  • NEE: Raising the bar on renewables strength
  • Utilities & Power Hold
    09.07.2020 VST
  • VST: Catching up with Curt; virtual meeting notes
  • Utilities & Power Buy
    09.01.2020 CMS
  • Utilities & Power: Spotlight Chart Book: Fed shift steps up inflation headwinds; CA CCM update; new quarterly heat map
  • Utilities & Power N/A
    08.27.2020 EXC
  • EXC: Status quo off the table
  • Utilities & Power Buy
    08.26.2020 EIX
  • EIX: Charge Ready PD ... Take 2
  • Utilities & Power Buy
    08.26.2020 EIX
  • EIX: CPUC meeting preview; two SCE projects on deck
  • Utilities & Power Buy
    08.20.2020 CMS
  • CMS: Gas settlement holds ROE steady, defers next filing
  • Utilities & Power Buy
    08.10.2020 DUK
  • DUK: Rebasing for ACP; holding the line on equity
  • Utilities & Power Buy
    08.08.2020 PCG
  • PCG: Probation conditions adopted
  • Utilities & Power Buy
    08.07.2020 NRG
  • NRG: Factoring in Direct
  • Utilities & Power Buy
    08.06.2020 SRE
  • SRE: Buyback surprise defuses lack of 2021 raise
  • Utilities & Power Hold
    08.05.2020 VST
  • VST: Delivering on resiliency; September update in focus
  • Utilities & Power Buy
    08.04.2020 EXC
  • EXC: Cost savings accelerated
  • Utilities & Power Buy
    08.03.2020 CMS
  • CMS: Back on track
  • Utilities & Power Buy
    08.02.2020 PEG
  • PEG: Strategic wind shift
  • Utilities & Power Hold
    07.31.2020 PEG
  • PEG: Fossil assets on the block
  • Utilities & Power Hold
    07.30.2020 PCG
  • PCG: Getting back on track
  • Utilities & Power Buy
    07.30.2020 PCG
  • PCG: First impressions; outlook largely as expected
  • Utilities & Power Buy
    07.29.2020 ETR
  • ETR: Much cleaner quarter
  • Utilities & Power Hold
    07.28.2020 EIX
  • EIX: Timing tempers 2Q; FY outlook firmed up
  • Utilities & Power Buy
    07.28.2020 DTE
  • DTE: Executing well as sales headwinds fade
  • Utilities & Power Hold
    07.26.2020 NEE
  • NEE: Calling time on our Sell rating
  • Utilities & Power Hold
    07.26.2020 NEP
  • NEP: Delivering on yield and growth
  • Utilities & Power Hold
    07.24.2020 NRG
  • NRG: Going Direct
  • Utilities & Power Buy
    07.23.2020 EIX
  • Utilities & Power: Chart of the Day - California CCM revisited
  • Utilities & Power Buy
    07.19.2020 CMS
  • Utilities & Power: 2Q preview and mark; weather to help mitigate COVID pressures; headroom a growing concern
  • Utilities & Power N/A
    07.17.2020 EXC
  • EXC: Cleaning up an Illinois overhang
  • Utilities & Power Buy
    07.17.2020 PCG
  • PCG: CAL FIRE pins Kincade on PG&E lines; AB 1054 cost recovery and wildfire fund mechanics revisited
  • Utilities & Power Buy
    07.06.2020 DUK
  • DUK: Recalibrating for ACP; reiterating Buy
  • Utilities & Power Buy
    07.01.2020 CMS
  • Utilities & Power: Spotlight Chart Book: Inflation headwinds; relative P/E through a longer lens; record yield spreads
  • Utilities & Power N/A
    06.26.2020 PCG
  • PCG: Final pieces of the exit puzzle
  • Utilities & Power Buy
    06.24.2020 PCG
  • PCG: Come on down; initiating Buy with $14 PT
  • Utilities & Power Buy
    06.15.2020 CMS
  • CMS: On the road with Rejji
  • Utilities & Power Buy
    06.12.2020 VST
  • EE/MI, E&I, Utilities & Power: Utility T&D Panel Discussion with ETN, FE and PWR
  • Utilities & Power N/A
    06.11.2020 PEG
  • PEG: BPU advances efficiency framework
  • Utilities & Power Hold
    06.11.2020 NRG
  • NRG: Catching up with Kirk
  • Utilities & Power Buy
    06.09.2020 PEG
  • PEG: Virtual meeting notes; utility target raised
  • Utilities & Power Hold
    06.05.2020 CMS
  • Utilities & Power: Chart of the Day - Demand recovery gaining momentum
  • Utilities & Power Buy
    06.01.2020 CMS
  • Utilities & Power: Spotlight Chart Book: Green Shoots
  • Utilities & Power N/A
    05.29.2020 NRG
  • NRG: New segments showcase integrated model
  • Utilities & Power Buy
    05.22.2020 SRE
  • SRE: Mexico rule change presents new wrinkle
  • Utilities & Power Hold
    05.21.2020 HUBB
  • EE/MI - Utilities & Power: T&D Capital Spending Outlook
  • Utilities & Power N/A
    05.13.2020 NRG
  • Utilities & Power: ERCOT CDR - Coronavirus Edition
  • Utilities & Power N/A
    05.12.2020 DUK
  • DUK: Catching the efficiency bug
  • Utilities & Power Buy
    05.12.2020 ETR
  • ETR: With a little help from Uncle Sam ...
  • Utilities & Power Hold
    05.11.2020 EXC
  • EXC: Guidance de-risked; Upgrade to Buy
  • Utilities & Power Buy
    05.07.2020 NRG
  • NRG: Integrated outlook affirmed
  • Utilities & Power Buy
    05.07.2020 PEG
  • PEG: De-risking our ROE assumption
  • Utilities & Power Hold
    05.06.2020 VST
  • VST: Cash flow still flowing
  • Utilities & Power Buy
    05.04.2020 SRE
  • SRE: Multi-faceted beat; guiding higher
  • Utilities & Power Hold
    05.04.2020 PEG
  • PEG: Small things that add up
  • Utilities & Power Hold
    05.03.2020 CMS
  • Utilities & Power: Spotlight Chart Book: Double-digit discount
  • Utilities & Power N/A
    05.01.2020 EIX
  • EIX: No net impact
  • Utilities & Power Buy
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