Deep Dives - Utilities & Power

Date Ticker Title Vertical Rating (at time of publication)
03.07.2021 DUK
  • Utilities & Power: Utility Spotlight: Signs of decoupling; ERCOT repricing revisited and policy options; EIX preferred
  • Utilities & Power N/A
    03.05.2021 EXC
  • Utilities & Power: ERCOT aftermath: PUCT rejects energy repricing
  • Utilities & Power N/A
    03.05.2021 PEG
  • PEG: Working down the to-do list
  • Utilities & Power Hold
    03.04.2021 EXC
  • Utilities & Power: ERCOT aftermath: IMM calls for further repricing; thoughts ahead of Friday PUCT meeting
  • Utilities & Power N/A
    03.03.2021 EXC
  • Utilities & Power: ERCOT aftermath: Confusion reigns at WMS
  • Utilities & Power N/A
    03.03.2021 EXC
  • Utilities & Power: ERCOT aftermath: PUCT adds new uncertainty; WMS meeting may offer some financial insights
  • Utilities & Power N/A
    03.02.2021 NRG
  • NRG: Weathering the storm
  • Utilities & Power Buy
    02.28.2021 CMS
  • Utilities & Power: Utility Spotlight: February to forget for utilities; ERCOT short payments; DTE files new extension
  • Utilities & Power N/A
    02.28.2021 VST
  • VST: Credibility crunch
  • Utilities & Power Buy
    02.25.2021 EIX
  • Utilities & Power: California earnings bites; EIX, PCG, SRE
  • Utilities & Power N/A
    02.25.2021 EXC
  • EXC: Right plan at the right time
  • Utilities & Power Buy
    02.23.2021 EIX
  • Utilities & Power: Chart of the Day - Checking in on California CCM
  • Utilities & Power Buy
    02.23.2021 NRG
  • Utilities & Power: ERCOT aftermath: Large REPs play offense; NRG doubles disaster relief stakes, notes stable business
  • Utilities & Power N/A
    02.21.2021 ETR
  • Utilities & Power: ERCOT aftermath: PUCT holds rare Sunday meeting targeting customer and financial challenges
  • Utilities & Power N/A
    02.21.2021 CMS
  • Utilities & Power: Utility Spotlight: ERCOT aftermath; higher yields bring new sector low; Cali studies rates; CMS meetings
  • Utilities & Power N/A
    02.20.2021 DTE
  • DTE: Off to a strong start
  • Utilities & Power Hold
    02.19.2021 NRG
  • Utilities & Power: Texas turmoil receding as exposure concerns rise
  • Utilities & Power N/A
    02.16.2021 CMS
  • Utilities & Power: Utility Spotlight: Winter comes to ERCOT
  • Utilities & Power N/A
    02.11.2021 DUK
  • DUK: Focus shifts to policy front
  • Utilities & Power Buy
    02.10.2021 EXC
  • EXC: New CEJA draft tees up Illinois energy debate
  • Utilities & Power Buy
    02.07.2021 CMS
  • Utilities & Power: Utility Spotlight: PCG prehearing update; NRG CFO transition; ROEs make new annual low
  • Utilities & Power N/A
    02.04.2021 CMS
  • CMS: New leadership, familiar story
  • Utilities & Power Buy
    02.02.2021 PCG
  • PCG: Telecom licensing deal looks like a win-win; no big surprises in Stress Test reply briefs
  • Utilities & Power Buy
    01.31.2021 CMS
  • Utilities & Power: Utility Spotlight: Volatile pattern continues; more onPCG securitization; EIX settles Woolsey subrogation
  • Utilities & Power N/A
    01.28.2021 DUK
  • DUK: Good news comes in threes
  • Utilities & Power Buy
    01.27.2021 NEE
  • NEE: Good news, but apparently not enough
  • Utilities & Power Hold
    01.26.2021 NEP
  • NEP: Quarterly miss, outlook unchanged
  • Utilities & Power Buy
    01.25.2021 DUK
  • DUK: Another week, another settlement
  • Utilities & Power Buy
    01.24.2021 CMS
  • Utilities & Power: Utility Spotlight: BPU looking at RA options; NJ ZECs report; PCG securitization refresher
  • Utilities & Power N/A
    01.22.2021 CMS
  • Utilities & Power: 4Q preview; fine-tuning ahead of long-haul reporting season; strategy and policy positioning in focus
  • Utilities & Power N/A
    01.21.2021 AIR-FR
  • Vertical Research Partners Top Picks - VRP Top Picks for 2021
  • Utilities & Power N/A
    01.18.2021 CMS
  • Utilities & Power: Utility Spotlight: Bouncing off a new low; DUK settles in Florida; Equinor/BP win big in NY offshore RFP
  • Utilities & Power N/A
    01.15.2021 PCG
  • PCG: Certified!
  • Utilities & Power Buy
    01.14.2021 ETR
  • Utilities & Power: Regulatory Bites: ETR rehearing timeline pushed; EIX Track 2 approved; CPUC to study LT rate outlook
  • Utilities & Power N/A
    01.12.2021 CMS
  • Utilities & Power: 2021 Outlook: Ring in the Green New Year ... but beware COVID and other cost recovery hangovers
  • Utilities & Power N/A
    01.03.2021 CMS
  • Utilities & Power: Utility Spotlight: Closing out a difficult year; new PCG probation conditions proposed
  • Utilities & Power N/A
    12.20.2020 CMS
  • Utilities & Power: Utility Spotlight: Wrapping up 2020; ETR FRP tees up affordability focus; PCG GRC accepted; Zogg latest
  • Utilities & Power N/A
    12.17.2020 CMS
  • Utilities & Power: Regulatory bulletin: CPUC meeting; SRE franchise latest; PCG securitization schedule; CMS rate order
  • Utilities & Power N/A
    12.17.2020 SRE
  • SRE: SDG&E confirmed as sole franchise bidder
  • Utilities & Power Hold
    12.17.2020 NRG
  • Utilities & Power: ERCOT CDR - Mixed bag
  • Utilities & Power N/A
    12.15.2020 ETR
  • ETR: Not so formulaic?
  • Utilities & Power Hold
    12.15.2020 PCG
  • PCG: Pushing back on TURN
  • Utilities & Power Buy
    12.13.2020 CMS
  • Utilities & Power: Utility Spotlight: Modest relative gains; PCG Zogg Fire latest; CPUC preview; CMS electric case; EXC NJ filing
  • Utilities & Power N/A
    12.09.2020 EXC
  • EXC: Selling (distributed) solar
  • Utilities & Power Buy
    12.08.2020 PCG
  • PCG: TURN calls for two-year rate freeze
  • Utilities & Power Buy
    12.06.2020 CMS
  • Utilities & Power: Utility Spotlight: More relative pain; SRE simplified; PCG gets new rates; PEG heads offshore; CMS baton passed
  • Utilities & Power N/A
    12.03.2020 PCG
  • PCG: GRC decision on deck with a revised PD
  • Utilities & Power Buy
    12.01.2020 CMS
  • Utilities & Power: Spotlight Chart Book: Value working as utilities ride relative roller-coaster; early look at 2022 Cali CCM
  • Utilities & Power N/A
    11.29.2020 CMS
  • Utilities & Power: Utility Spot-Lite: Utilities lag as market gains; CMS leadership meeting; PCG GRC decision on deck
  • Utilities & Power N/A
    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
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