U.S. Markets closed
  • S&P 500

    4,432.99
    -40.76 (-0.91%)
     
  • Dow 30

    34,584.88
    -166.44 (-0.48%)
     
  • Nasdaq

    15,043.97
    -137.96 (-0.91%)
     
  • Russell 2000

    2,236.87
    +3.96 (+0.18%)
     
  • Crude Oil

    71.96
    -0.65 (-0.90%)
     
  • Gold

    1,753.90
    -2.80 (-0.16%)
     
  • Silver

    22.42
    -0.33 (-1.44%)
     
  • EUR/USD

    1.1732
    -0.0040 (-0.3402%)
     
  • 10-Yr Bond

    1.3700
    +0.0390 (+2.93%)
     
  • Vix

    20.81
    +2.12 (+11.34%)
     
  • GBP/USD

    1.3737
    -0.0059 (-0.4286%)
     
  • USD/JPY

    109.8950
    +0.1770 (+0.1613%)
     
  • BTC-USD

    48,613.18
    +597.45 (+1.24%)
     
  • CMC Crypto 200

    1,193.48
    -32.05 (-2.62%)
     
  • FTSE 100

    6,963.64
    -63.84 (-0.91%)
     
  • Nikkei 225

    30,500.05
    +176.71 (+0.58%)
     

The Zacks Analyst Blog Highlights: Portland General Electric Co, NextEra Energy, The AES Corp and ALLETE

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·6 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

For Immediate Release

Chicago, IL – March 15, 2021 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Portland General Electric Company POR, NextEra Energy, Inc. NEE, The AES Corporation AES and ALLETE, Inc. ALE.

Here are highlights from Friday’s Analyst Blog:

4 Stocks to Watch as Demand for Wind Energy Picks Up

Wind energy has emerged as one of the prominent forms of renewable sources of power as the world continues its battle against climate change. Per a report by Mordor Intelligence, the global wind power installed capacity is estimated to see a CAGR of more than 8% and reach an installed capacity of 1,166.73 gigawatt (GW) by 2026 versus 650.54 GW in 2019.

Notably, the report stated that factors like favorable government policies and rising investment in upcoming wind power projects along with the reduced cost of wind energy which has driven adoption of this renewable energy, are set to drive the wind energy market.

Notably, the United States is continuing to shift its focus to renewable sources of power. Toward that end, the 2021 U.S. Renewable Energy Outlook Report by S&P Global Market Intelligence stated that more than 21 GW of wind capacity should come online by the end of 2021, as quoted in a Windpower Monthly article. In fact, 2020 saw the United States setting a record in terms of wind power capacity additions, highlighting the importance that renewables are garnering in the present scenario.

Notably, a Power Engineering article mentioned that data released by the Energy Information Administration (“EIA”) showed that project developers in the United States installed more wind power capacity than any other generating technology in 2019 and 2020. In fact, the article mentioned that per the EIA’s Preliminary Monthly Electric Generator Inventory, annual wind turbine capacity additions in the United States set a record of 14.2 GW in 2020, surpassing the previous record of 13.2 GW added in 2012.

Such positive developments are sure to bode well for wind energy as the adoption of environment-friendly sources of power continues to grow. Reflective of this, the EIA predicted in its recently released Short-term Energy Outlook report that electricity generation from renewable energy sources are set to rise to 21% in 2021 and 23% in 2022 from 20% in 2020.

Moreover, President Joe Biden’s focus on renewables should provide a further boost to wind energy. Notably, the United States rejoined the Paris Agreement that is aimed at strengthening global response against climate change after Biden signed an executive order on his first day in office on Jan 20.

4 Stocks to Keep an Eye On

Wind energy seems poised to witness further growth as the world continues its fight against climate change. Moreover, the United States looks ready to adopt more wind energy as capacity installations are likely to rise. Hence, it won’t be a bad proposition to look at names that can benefit from this continued demand for wind energy. Notably, we have selected four such stocks that carry a Zacks Rank #2 (Buy) or 3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Portland General Electric Co., an integrated electric utility company, engages in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in the state of Oregon. The company operates six thermal plants; seven hydroelectric plants; and three wind farms. It currently has a Zacks Rank #2. The Zacks Consensus Estimate for its current-year earnings has moved 1.5% north over the past 60 days. The company’s expected earnings growth rate for the current year is 55.2%.

NextEra Energy, through its subsidiaries, generates, transmits, distributes, and sells electric power to retail and wholesale customers in North America. The company generates electricity through wind, solar, nuclear, and fossil fuel. It currently has a Zacks Rank #3. The Zacks Consensus Estimate for its current-year earnings has moved up 0.4% over the past 60 days. The company’s expected earnings growth rate for the current year is 8.7%.

The AES Corp.  operates as a diversified power generation and utility company. It uses a range of fuels and technologies to generate electricity, including renewables such as hydro, solar, wind, energy storage, biomass, and landfill gas. It currently has a Zacks Rank #3. The Zacks Consensus Estimate for its current-year earnings has risen 0.6% over the past 60 days. The company’s expected earnings growth rate for the current year is 9%.

ALLETEoperates as an energy company. The company focuses on developing, acquiring, and operating clean and renewable energy projects; and owns and operates approximately 1,000 megawatts of wind energy generation facilities. It currently has a Zacks Rank #3. The Zacks Consensus Estimate for its current-year earnings has moved up 1.4% over the past 60 days. The company’s expected earnings growth rate for the current year is 8.7%.

5G Revolution: 3 Stocks to Make Your Move

With super high data speed, it will make current cell phones obsolete and unlock the full potential of big data, cloud computing, and artificial intelligence. In the next few years this industry is predicted to create 22 million jobs and a stunning $12.3 trillion in revenue.

Today you have an historic chance to pursue almost unimaginable gains like Microsoft, Netflix, and Apple in their early phases. Zacks has released a Special Report that reveals our . . .

  • Smartest stock for 5G telecom

  • Safest investment in 5G hardware

  • Single best 5G buy of all!

Download now. Today the report is FREE >>

Media Contact

Zacks Investment Research

800-767-3771 ext. 9339

support@zacks.com                                      

https://www.zacks.com                                          

 

Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
The AES Corporation (AES) : Free Stock Analysis Report
 
Portland General Electric Company (POR) : Free Stock Analysis Report
 
NextEra Energy, Inc. (NEE) : Free Stock Analysis Report
 
Allete, Inc. (ALE) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research