Maybe the meeting these guys and management might bear fruit. Management just does not understand what "public" requires. It can't be that they don't care about share price while they hold large number of shares and options.
Far be to me to defend management but if you read the last couple of reports, oil is not really the main industry contracts. Excel who is a big customer has announced some huge business couple with management which NEVER gives forward guidance indicated extremely strong interest in future business. Bottom was 5-6 months ago, and the future looks rosey- did I just say that? Oil is old news and power is the new news!
ENGlobal Corp (ENG) – Stock To Watch If Oil Prices Stabilize
By Guest Post on April 4, 2016 11:59 pm in Business
ENGlobal Corp (ENG) – Stock To Watch If Oil Prices Stabilize by GEO Investing
We currently have 10 stocks in our infrastructure screen. These companies are benefiting from the billions of dollars being spent on upgrading the aging US infrastructure across various areas. The average return on the only three core positions we established from the screen so far now totals 46%. In previous emails we have talked about starting to build a core position in PPSI as well. We are now adding ENG to this list because of its involvement in the energy infrastructure industry.
ENG is a provider of engineering and automation services primarily to the energy sector throughout the United States and internationally. ENGlobal operates through two business segments: Automation and Engineering. ENGlobal’s Automation segment provides services related to the design, fabrication and implementation of distributed control, instrumentation and process analytical systems. The Engineering segment provides consulting services for the development, management and execution of projects requiring professional engineering, construction management, and related support services (62% of revenue).
Reasons for Tracking (RFT) serves as a great tool for busy investors to maybe start their own due diligence (DD). We also find it useful as a way to bring ideas to our members, as opposed to waiting for us to potentially write a longer article. As a member, you will be kept abreast of how our DD is progressing and if we plan to buy or remove the stock from our RFT watch list.
Please note that I think it may be too early to get excited. I have not and may not buy any ENG. The oil-focused energy infrastructure “theme” is currently the black sheep of the infrastructure investment play because oil companies are spending less capital on projects now that oil prices have fallen well
Zacks By Zacks Equity Research
2 hours ago
Xcel Energy Inc. XEL hit a new 52-week high of $42.02 in the last trading session, before closing at $41.94. Minneapolis, MN-based Xcel Energy is a utility holding company which, together with its subsidiaries, provides natural gas and electricity in the U.S. The stock has delivered a one-year return of about 24.8%.
Over the past 52 weeks, Xcel Energy’s shares have ranged from a low of $31.76 on Jun 26, 2015 to a high of $42.02 on Apr 1, 2016. The average volume of shares traded over the last three months is approximately 3.9 million.
What is Driving Xcel Energy Upward?
Xcel Energy’s shares have been on the rise ever since the company declared impressive fourth-quarter 2015 results on Jan 28. Xcel Energy posted earnings of 41 cents per share in the quarter that were in line with the Zacks Consensus Estimate and surpassed the year-ago figure by 5.1%. Full-year earnings also improved 3% year over year.
Xcel Energy expects 2016 earnings in the range of $2.12–$2.27 per share and projects long-term earnings growth of 4–6% per year.
Currently, Xcel Energy is investing heavily in transmission, generation and distribution projects, which are expected to boost its performance over the long haul. The company's ongoing investments in utility infrastructure upgrades and expansion of the transmission business will lead to service reliability, and enable it to retain and attract new customers. The company projects capital spending of $15.2–$17.7 billion over the next five years in renewable energy pertaining to the Minnesota resource plan, natural gas reserves in Colorado and modernization of distribution grid.
The economy across Xcel Energy’s service territories, especially in Minnesota, is flourishing at a faster rate in comparison to the nation as a whole. This is evident from the fact that the consolidated unemployment rate at the company’s service territory was 3.4%, below the national average of 5% in the fourth quarter. Moreover, the company witnessed customer additions of 1%. The optimism in the market continues to drive Xcel Energy’s sales and the company’s future performance will likely improve with the gradual economic recovery.
Might want to re-read the notice. As I remember it , it says 30 days, pending an appeal after that. But why would management risk it since it said new business is extremely strong? Go figure. And these guys just got new common shares on options. Does that not #$%$ off the common stockholder?
Well management is back to ignoring the market, the delisting notice and of course, the shareholders. Glad I'm not into this one in a big way, just wanting to exit my shares at break even. Lol.
Not an accountant but I did stay at a holiday inn express. Tax code and foreign revenues are too complicated that only their auditor could explain the credit. But I assume cancelled contracts might be the answer depending on how they expensed projected revenue?
Go to their website under investors, the SEC forms are there, just not sure they purchased the shares or converted options?
Market has little faith in this company/management. Maybe 10 Q will reveal more on new business?
Good news even if the contract amount is small. Treading water, with delisting looming is a downer on this stock. Really need some news that will gain confidence and attention.