Deep Dives - Utilities & Power

Date Ticker Title Vertical Rating (at time of publication)
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
    04.30.2020 EIX
  • Utilities & Power: Chart of the Day - Lower yields turn spotlight back on Cali ROEs
  • Utilities & Power Buy
    04.29.2020 DTE
  • DTE: Whatever it takes
  • Utilities & Power Hold
    04.28.2020 CMS
  • CMS: Certainty in short supply
  • Utilities & Power Buy
    04.23.2020 NEP
  • NEP: Same portfolio, longer runway
  • Utilities & Power Hold
    04.23.2020 NEE
  • NEE: Powering through
  • Utilities & Power Sell
    04.20.2020 MMM
  • Vertical Research Partners: Trading Pairs from VRP Research Team
  • Utilities & Power N/A
    04.20.2020 CMS
  • Utilities & Power: First quarter preview; outlooks in the spotlight as Street takes wait-and-see attitude on numbers
  • Utilities & Power N/A
    04.14.2020 CMS
  • Utilities & Power: Life after COVID; themes to consider
  • Utilities & Power N/A
    04.09.2020 CMS
  • Utilities & Power: Spotlight on demand
  • Utilities & Power N/A
    04.03.2020 CMS
  • Utilities & Power: Spotlight Chart Book: Taking a look at 2008/2009
  • Utilities & Power N/A
    04.01.2020 CMS
  • Utilities & Power: New quarter, new targets
  • Utilities & Power N/A
    03.26.2020 EIX
  • Utilities & Power: Bond blow-out lowers risk of Cali ROE reset
  • Utilities & Power Buy
    03.25.2020 SRE
  • SRE: What equity overhang?
  • Utilities & Power Hold
    03.24.2020 CMS
  • Utilities & Power: Chart of the Day - Spotlight on liquidity
  • Utilities & Power Buy
    03.20.2020 SRE
  • SRE: What if?
  • Utilities & Power Hold
    03.19.2020 NRG
  • Utilities & Power: Chart of the Day - Commodity virus reaches ERCOT
  • Utilities & Power Buy
    03.19.2020 CMS
  • Utilities & Power: Pension pressure points
  • Utilities & Power N/A
    03.13.2020 CMS
  • Utilities & Power: Yields behaving badly
  • Utilities & Power N/A
    03.11.2020 CMS
  • Utilities & Power: Not as pricey as they look?
  • Utilities & Power N/A
    03.10.2020 NRG
  • Utilities & Power: Testing times in Texas
  • Utilities & Power N/A
    03.09.2020 PEG
  • PEG: Staying on the sidelines
  • Utilities & Power Hold
    03.05.2020 SRE
  • SRE: Gearing up for Investor Day
  • Utilities & Power Hold
    03.03.2020 NRG
  • NRG: Better entry point
  • Utilities & Power Buy
    02.29.2020 VST
  • VST: Sticking to the plan
  • Utilities & Power Buy
    02.28.2020 EIX
  • EIX: Plenty to think about
  • Utilities & Power Buy
    02.27.2020 SRE
  • SRE: Full steam ahead
  • Utilities & Power Hold
    02.27.2020 NRG
  • NRG: Our thoughts on today's call
  • Utilities & Power Hold
    02.27.2020 PEG
  • PEG: Plenty of questions, answers to follow
  • Utilities & Power Hold
    02.25.2020 DUK
  • DUK: Puts and takes
  • Utilities & Power Buy
    02.24.2020 VST
  • VST: Don't give up on Curt's cash flow machine
  • Utilities & Power Buy
    02.24.2020 SRE
  • SRE: Simpler SRE offers unique, differentiated portfolio
  • Utilities & Power Hold
    02.24.2020 NEP
  • NEP: Best in class YieldCo, valuation to match
  • Utilities & Power Hold
    02.24.2020 PEG
  • PEG: Overhangs cloud outlook; strategy rethink warranted?
  • Utilities & Power Hold
    02.24.2020 NRG
  • NRG: Transformation delivered
  • Utilities & Power Hold
    02.24.2020 NEE
  • NEE: Even excellence has a price
  • Utilities & Power Sell
    02.24.2020 EXC
  • EXC: Uncertainty reigns
  • Utilities & Power Hold
    02.24.2020 ETR
  • ETR: Back on the high quality short list
  • Utilities & Power Hold
    02.24.2020 EIX
  • EIX: Meanwhile in Southern California ...
  • Utilities & Power Buy
    02.24.2020 DUK
  • DUK: Attractive risk/reward; ACP downside priced in
  • Utilities & Power Buy
    02.24.2020 DTE
  • DTE: Still zigging while others zag
  • Utilities & Power Hold
    02.24.2020 CMS
  • CMS: Paying up for consistency
  • Utilities & Power Buy
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