|Bid||1.6000 x 1100|
|Ask||1.6100 x 41800|
|Day's Range||1.5700 - 1.6300|
|52 Week Range||1.4100 - 2.9400|
|Beta (5Y Monthly)||1.80|
|PE Ratio (TTM)||2.43|
|Earnings Date||Mar 09, 2020 - Mar 15, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||3.78|
[Editor's note: "8 Stellar Small-Cap Stocks to Buy That Are in Major Industries" was previously published in October 2019. It has since been updated to include the most relevant information available.]The roller-coaster ride that is the U.S.-China trade war probably has many folks thinking about lesser-known small caps.If the blue chips are risky in this unpredictable environment, why would anyone consider small-cap stocks? Although admittedly counterintuitive, the small caps may offer a better place to park your money. First and foremost, it just doesn't take much to move these names. Any positive developments, no matter how much of a reach, could swing shares massively.InvestorPlace - Stock Market News, Stock Advice & Trading TipsOf course, that goes in the opposite direction too. However, the beauty of small-cap stocks is that you don't need to invest as much money to see robust returns. This leads to another point about the tertiary players of the financial markets: you can potentially advantage their inefficiencies.Larger organizations, especially those listed on the Dow Jones Industrial Average or the S&P 500, react to all available news. Because they attract the most eyeballs, investors collectively respond in more or less the most rational manner. Think of blue chips as the phone-a-friend=option. * 7 Utility Stocks to Buy That Offer Juicy Dividends But with small caps, there's no phoning friends because you might be the only one watching. Okay, that's an exaggeration, but because small caps don't generate as much interest, you can better exploit market irrationality.With that introduction, let's have a look at eight small-cap stocks to put on your radar: Freshpet (FRPT)I've said this many times before, but Americans love their pets. And I can completely understand.Honestly, I'd rather hang out with animals than with most humans. Nevertheless, domesticated animals aren't going to take care of themselves. That's the core thesis behind Freshpet (NASDAQ:FRPT) and FRPT stock.Typically, pet food, especially for dogs, is heavily processed. Essentially, it's cereal for canines.But Freshpet has put an entirely new spin on this drab industry. Featuring 100% natural farm raised poultry, beef and fish, Freshpet products are both delectable and nutritious.According to the latest data, Americans spend $72 billion on their pets. Thus, a viable market exists for Freshpet, bolstering the longer-term case for FRPT stock. Petmed Express (PETS)Source: Shutterstock Earlier, I mentioned the greater upside potential of small caps. Because small-cap stocks don't have the name recognition of blue chips, a sudden burst of positive news could skyrocket shares.However, Petmed Express (NASDAQ:PETS) represents an example of what can go wrong when the news isn't so good.Throughout this year, PETS stock has been under fire for viability concerns. That sentiment came to a head in late July when the underlying company released its fiscal first-quarter earnings report.Both per-share profitability and revenue missed analysts' consensus estimates. As a result, PETS stock dropped 12% following the negative disclosure. * 7 Biotech Stocks to Buy That Could Beat the Coronavirus It's only recently that shares have started to pick back up. Ultimately, I think this is a case where the markets are irrationally pessimistic. In 2017, Americans spent over $17 billion in veterinary care. Put differently, PETS stock has a very believable pathway to recovery. Inspire Medical Systems (INSP)We all know how important a restful night's sleep is. Without it, we're usually cranky or slothful, operating far below our potential. But for the approximately 22 million Americans who suffer from sleep apnea, restful sleep is only a pipe dream.Fortunately, we have Inspire Medical Systems (NYSE:INSP), which offers a revolutionary approach to this health dilemma.Rather than prescribe a pill that may only last temporarily, Inspire Medical Systems installs a small device into your body. It's a same-day, outpatient procedure, minimizing inconvenience to the patient.Once you're ready to sleep, you simply activate the device via a remote controller. This opens your airways, allowing you (and your partner) to finally get that satisfying rest. Naturally, this exciting and effective technology underlines the case for INSP stock.Now, with a current market cap of $1.25 billion, INSP stock reaches into mid-cap territory. However, shares have witnessed sharp volatility recently, which may bring INSP down among the small caps. Given the massive potential for Inspire, I think this is a worthy discount to consider. B&G Foods (BGS)B&G Foods (NYSE:BGS) is another name among small-cap stocks that borderlines the unofficial threshold between small-cap and mid-cap companies. However, BGS stock has been under serious pressure ever since the year began.Shares are down nearly 44% in the last year. Needless to say, the packaged foods company doesn't inspire confidence.While this disappointment isn't uncommon in the packaged foods industry, B&G is noticeably lagging in terms of last year's sales. Thus, investors haven't given much thought to BGS stock. * 7 Biometrics Stocks That Will Help Shape the Next Decade But based on the growing unease in our economy, that could change. If we do suffer a recession, discretionary spending is out but the necessities are in. That naturally benefits BGS stock, along with other food-related small caps. Northern Oil & Gas (NOG)Source: Shutterstock This year, crude oil prices have moved in a somewhat surprisingly negative direction. Despite the Federal Reserve's dovish attitude toward monetary policy, "black gold" values have been muted since May.Obviously, that doesn't really help small caps in the oil sector like Northern Oil & Gas (NYSEAMERICAN:NOG) and NOG stock.However, geopolitical catalysts may once again drive up energy prices. Particularly, I'm worried about an increasingly tense situation in the Middle East.Of course, no one wants an armed conflict to erupt. That said, this region has been mired in violence over the decades. Thus, as a cynical hedge, you may want to consider energy-related small caps like NOG stock. Astronics (ATRO)Source: Shutterstock Speaking of armed conflicts, another market segment that benefits from geopolitical flashpoints are defense companies. Although the big names like Lockheed Martin (NYSE:LMT) or Raytheon (NYSE:RTN) get the most attention, small-cap stocks like Astronics (NASDAQ:ATRO) offer much potential.That's especially true in this environment. Obviously, with the Trump administration bulking up our military presence in Saudi Arabia, this is a boon for defense spending.But other conflicts and potential flashpoints exist as well, including our failed diplomacy with North Korea, along with a brewing cold war with China and Russia. While no one wishes for a situation to turn hot, the necessity for deterrence boosts ATRO stock. * 10 Stocks to Buy for Your Income-Generating Portfolio Another factor to consider is that defense projects don't occur in a vacuum. For instance, a single manufacturer may develop a fighter jet's airframe. However, companies like Astronics specialize in less sexy but still critical components, such as communications or electrical power systems. Thus, a win for a defense blue chip may also be a win for ATRO stock. Elastic (ESTC)One of the many highly anticipated tech-related initial public offerings to come out in the last few years, Elastic (NYSE:ESTC) has fortunately avoided the curse of hyped IPOs. That said, ESTC had a bumpy year riding ups and downs to about a 25% stock price decline in the last year. However, this slow down also represents why Elastic is among the small caps to watch closely.Primarily, this is because Elastic promises to change digital search functions for enterprises. As such, Elastic is in some ways the corporate version of Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL).Today, searching isn't just about typing in text; instead, people swipe, point or talk within an app's architecture. Bringing these actions toward usable information is what makes Elastic, and by deduction, ESTC stock so compelling.Moreover, you've probably used Elastic without even knowing it. The company is behind the open-source technology that drives ride-sharing outfits like Uber Technologies (NYSE:UBER) and Lyft (NASDAQ:LYFT).Now, with a market cap of nearly $7 billion, I wouldn't normally regard ESTC as belonging to small-cap stocks. Nonetheless, I believe its relatively lesser known profile justifies its inclusion. Wallbridge Mining (WLBMF)Source: Shutterstock More belonging to the micro caps as opposed to small-cap stocks, Wallbridge Mining (OTCMKTS:WLBMF) is an extremely risky play.With shares trading at only a quarter -- and I mean that literally -- WLBMF stock is the epitome of speculative. Please don't say I didn't warn you as I warned you twice in consecutive fashion!However, I believe the current environment for gold and silver prices is the best it has been in a long time. Just in this write-up, we've discussed the trade war, tensions in the Middle East and rising global adversaries. People are very much scared, and when fear rises, they typically run to gold. * Invest in America's Most Trusted Brands With These 7 Stocks to Buy Therefore, I view WLBMF stock as an anticipated play on broader emotions. When more people get wind of the precious metals opportunity, this will naturally spike up prices. And when that happens, invariably, some folks will seek out cheaper, more accessible stocks.As of this writing, Josh Enomoto is long gold and silver. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Super Boring Stocks to Buy With Super Safe Returns * 10 Winning Stocks to Buy and Stick With for the Long Haul * Don't Give Up on These 4 Cannabis Stocks The post 8 Stellar Small-Cap Stocks to Buy That Are in Major Industries appeared first on InvestorPlace.
We’re bargain hunting, looking for stocks that will bring strong returns for a low cost of entry. Our criteria, a “Strong Buy” analyst consensus combined with upside potential that exceeds 20%, naturally leads us to the energy sector. Despite high overhead and low prices, oil and gas extraction remain cash-rich niches, with potential for high profits when a company strikes a rich deposit.Using TipRanks’ Stock Screener, we’ve picked out three energy stocks to power up your investment portfolio. All three are priced at a bargain, have Buy ratings from Wall Street’s analysts, and boast superb upside potential. Let’s dive in, and find out what else makes them compelling buys.Northern Oil and Gas (NOG)Starting up north in the Williston Basin, Northern Oil and Gas owns mineral rights on more than 165,000 acres of land, has interests in over 2,500 well sites, and sits on proven reserves exceeding 65 million barrels of oil equivalent.Like many small- to mid-cap energy companies, price pressures and overhead caused NOG to underperform the markets last year. The most recent earnings report showed an EPS of 9 cents, below the forecast – but revenues were up, coming in at $233.9 million, or 37% over the estimate. While headwinds are hurting Northern, the company’s foundation is solid.Management is using that strong revenue base to put the company on sound footing, with it reducing debt and attracting investors by commencing a dividend. In mid-January, the company revealed moves to retire more than $50 million in outstanding debt notes, a decision that will improve the bottom line by 13%. Additionally, in mid-December, NOG announced its first ever dividend payment, scheduled for April 2020, of 1.5 cents per share. At current prices, this dividend will yield about 3%, or 50% more than the average yield among S&P-listed companies.Analyst Jason Wangler, of Imperial Capital, was impressed by NOG management’s financial moves, and upgraded his stance on the stock from Neutral to Buy. Wangler specifically cited the dividend announcement in his comments, writing, “The announcement is important as it shows the progress NOG has made on its balance sheet over the past two years as well as the fact that now NOG stock can be considered a yield vehicle.”Wangler also raised his price target on NOG, from $2 to $2.50, in line with this bullish stance – it implies an upside potential of 51% for the stock. (To watch Wangler’s track record, click here)All three of NOG’s recent analyst reviews are Buys, giving the stock a unanimous Strong Buy consensus rating. Shares are priced low, at just $1.66, and the average price target of $3.25 suggests an upside potential of 96%, a strong indicator that Wangler’s view is somewhat conservative. (See Northern Oil and Gas stock-price forecast on TipRanks) Earthstone Energy (ESTE)For our next energy play, we shift our attention 1,200 miles south, to the Midland and Eagle Ford formations of Texas. Earthstone Energy operates on more than 47,000 acres in these two oil-rich regions, and has over 300 producing wells. Earthstone is a small-cap company, with a total market capitalization of $322.8 million.Operating in one of North America’s highest-producing oil and gas regions, Earthstone has seen both high output and strong revenues. The company consistently beat earnings forecasts in 2019, and in its last report, posted 18 cents EPS. This compared favorably to the 13-cent forecast and the 17-cent year-ago number.On a better note for investors, ESTE released forward guidance at the end of January, predicting 2019 daily average sales volumes will exceed previous expectations by 9%. Adding to the good news, the company predicted a 20% increase in production and a 21% decrease in capital expenditures for 2020.These positive developments prompted RBC analyst Brad Heffern to maintain his Buy rating and price target of $8. Heffern’s target implies a possible upside of 60%. (To watch Heffern’s track record, click here)Commenting on the stock, Heffern said, “On the back of very strong preliminary 4Q19 results, ESTE’s 2020 plan includes higher oil production and lower capex than we previously anticipated. We now see a relatively clear path to ESTE’s goal of FCF at $50/bbl in 2H20, which is quite a feat for a company of ESTE’s size.”Overall, ESTE’s Strong Buy consensus rating is based on 5 reviews, including 4 Buys and 1 Hold, set in the past few months. The average price target, $8.81, indicates room for an impressive 76% upside from the current share price of $5. (See Earthstone stock analysis on TipRanks) Devon Energy (DVN)Third on our list is Devon Energy, an $8 billion company with operations in the Eagle Ford, Delaware, STACK, and Powder River formations. Devon has over 21,000 wells on 3.8 million acres, produced over 530 million barrels of oil equivalent in 2018, and has 1.9 billion barrels more in proven reserves.Devon is scheduled to release Q4 earnings on February 18. In the last report, the company beat the EPS and revenue forecasts by wide margins. EPS came in at 26 cents, while the $1.85 billion in revenue also flew past the Street’s estimate. It’s important to note that DVN consistently beat quarterly expectations through 2019.Also of importance for investors, in December, Devon announced the Q1 2020 cash dividend, to be paid out in March. The dividend, at 9 cents, annualizes to 36 cents and gives a yield of 1.66%. While nothing to write home about – it is slightly less than the average yield among S&P 500 companies – it is still a reliable income stream. Devon has raised the dividend three times in the past three years, and the payout ratio of 21% shows that the payment is easily sustainable.Writing on DVN stock from BMO Capital, analyst Phillip Jungwirth notes, “We see the company entering 2020 with a focused high margin and return oil-weighted portfolio that should generate peer-leading corporate returns and free cash flows.”Jungwirth maintained his Buy rating, and bumped up his price target to $30. At current levels, this suggests a potential 38% upside to the stock. (To watch Jungwirth’s track record, click here)Devon Energy’s Strong Buy consensus view is based on 9 Buys and 3 Holds. The stock sells for $21.72 per share, and the average price target of $32.40 indicates room for 49% upside growth. (See Devon price targets and analyst ratings on TipRanks)
Investors want to see a return on investment, it's as simple as that. Regardless of the size of the investment, the end goal remains the same. Sure, there are several ways to go about achieving this objective, yet time after time Wall Street observers circle back to a single tried and true strategy.Growth investing involves identifying the stocks with long-term growth prospects that go above and beyond those of their peers.It should be noted, though, that plays in the growth-stock arena can sometimes come with a price tag to match their huge potential for gains. However, there are compelling names out there that don't cost a fortune.InvestorPlace - Stock Market News, Stock Advice & Trading TipsWhile some naysayers might argue that you get what you pay for, others will point out that stocks trading at low levels can represent some of the most compelling names on the Street, with entry points that make them even more attractive. * 7 Stocks to Buy for February Contrarians With this in mind, I used TipRanks' Stock Screener tool during my own search for affordable growth names. After sorting the results by current share price, analyst consensus and price target, the tool revealed three stocks that have received a wealth of support from Wall Street analysts, all under $5 per share. To top it all off, each boasts massive upside potential from current levels. Matinas BioPharma (MTNB)Source: Shutterstock Like the name suggests, Matinas BioPharma Holdings (NYSE MKT:MTNB) is a biopharma focused on the development of lead candidate, MAT9001, its prescription-only omega-3 fatty acid drug for cardiovascular and metabolic conditions. After the FDA approved the label expansion of Amarin's Vascepa drug to include cardiovascular disease patients with high triglycerides of greater than 150 mg/dL, some analysts believe that MTNB's $1.44 share price is a bargain.Piper Sandler analyst Edward Tenthoff tells investors that his bullish thesis is primarily driven by earlier data published by MTNB. Back in 2015, the company reported that during a Phase 1 study, MAT9001 was found to have produced a greater reduction of triglycerides, with the figure coming in at 33% compare to Vascapa's 11%.The drug is currently being evaluated in the Phase 2 ENHANCE-IT study versus Vascepa. With data slated for release in the fourth quarter of this year, big things could be on the way. Tenthoff argues MTNB could start a single Phase 3 severe hypertriglyceridemia trial in 2021 and see potential approval in 2023. In addition, he thinks that the importance of omega-3-based medicines is expanding.All of the above factors prompted the analyst to start his MTNB coverage by publishing an "overweight" rating and setting a $3 price target. Should the target be met, shares could be in for a 108% gain over the next twelve months.Similarly, the rest of the Street takes a bullish approach when it comes to MTNB. Out of four analysts tracking the name over the last three months, 100% see the stock as a "buy," making the consensus rating a "strong buy." Given the $3.25 average price target, the upside potential of 126% surpasses Tenthoff's estimate. See the MTNB stock analysis. Northern Oil And Gas (NOG)Source: Shutterstock Northern Oil and Gas (NYSE MKT:NOG) is one of the primary non-operator franchises in the Bakken and Three Forks plays in the Williston Basin of North Dakota and Montana. Its total footprint, which lands at about 165,000 acres, as well as its proved reserves of 65.3 million barrels of oil equivalent at year-end 2015, has helped cement its status as one of the leading players in the space. Its $1.69 price tag seems almost too good to be true.Back in December, the company gave investors a reason to get excited after it announced that it would start paying out a quarterly dividend. The first dividend will come in at two cents per share, payable in April 2020. In addition, the forward yield lands at 3.14%.This news prompted Imperial Capital analyst Jason Wangler to boost his rating from "in-line" to "outperform." He argues that while the dividend is modest, it demonstrates that NOG has taken steps in the right direction in terms of its balance sheet over the last two years. On top of this, it also means that the name can be thought of as a yield vehicle.It makes sense, then, that in addition to the upgrade, Wangler bumped up the price target from $2 to $2.50. At this new target, the upside potential comes in at 48%. * 7 Under-the-Radar European Stocks to Buy for 2020 When it comes to other analyst activity, it has been relatively quiet on Wall Street. That being said, the two other analysts that published a review in the last three months rated NOG as a "buy," making the Street consensus a "strong buy." Not to mention the $3.25 average price target brings the upside potential to 92%. See the NOG stock analysis. Durect Corporation (DRRX) Source: Shutterstock Durect Corporation (NASDAQ:DRRX) has a simple objective: to transform medicine. It wants to develop drugs that can provide meaningful advances in patient health and wellbeing. At the bargain price of $2.12 per share, analysts warn investors that if they wait too long, they could miss out on the opportunity.While investor concern has definitely emerged, Craig-Hallum analyst Francois Brisebois is still very much on board. Fears among investors have been driven by the company's announcement that the AdCom vote for its Posimir drug's Class 2 New Drug Application (NDA) resubmission was split right down the middle.As a result, Brisebois doesn't assign any value to the drug in the model. Rather, he highlights its DUR-928 candidate for primary alcoholic hepatitis as DRRX's primary value driver, calling early efficacy and safety data incredibly encouraging. On top of this, the analyst argues that the combination of the current poor standard of care and the $3 billion total addressable market played into his conclusion that investors should buy on any weakness.With this in mind, Brisebois kicked off his DRRX coverage by issuing a "buy" rating. In addition, he set a Street high price target of $6, implying a staggering 183% upside potential.Meanwhile, the rest of the Street also likes what it's seeing. A "strong buy" consensus rating breaks down into three "buys" and a single "hold." While less aggressive than that of Brisebois, the $4.65 average price target still puts the potential twelve month gain at 119%. See the DRRX stock analysis. Carrols Restaurant Group (TAST)Source: Shutterstock While the name Carrols Restaurant Group (NASDAQ:TAST) might not ring any bells, but you've probably heard of its restaurants Burger King and Popeyes. It is true that shares took a pretty substantial hit following its preliminary fourth quarter results. Now at just $4.80 apiece, Deutsche Bank's Brian Mullan is still in the restaurant company's corner.The negative reaction came largely as a result of Burger King's same store sales (SSS) results. At 2%, the figure falls well below the implied guidance's range of 4% to 5% range and reflects a deceleration in November and December.However, Mullan tells investors that there's a silver lining. Management noted that the focus will shift towards managing both net leverage levels and free cash flow. "While management wasn't explicit with its plans, reading the tea leaves our sense is that these comments could pertain to either: 1) a reduced pace of acquisitions for the foreseeable future, 2) a potential slowdown in new unit development, or 3) all of the above," he explained.This combined with the new CFO appointment implies that the plans for the above are "… fluid and evolving. We think the key takeaway here is that management is mindful of the market's perception of TAST's net leverage levels, and that it has several options at its disposal to address this, should it see fit," Mullan added.Taking all of this into consideration, the analyst left his "buy" rating and $8 price target as is. This means that shares could potentially surge 67% in the next twelve months. * 7 Biometrics Stocks That Will Help Shape the Next Decade Judging by the consensus breakdown, the rest of the Street is in agreement. With only "buy" ratings assigned in the last three months, the message is clear: TAST is a "strong buy." It also doesn't hurt that the $8.83 average price target suggests 84% upside potential. See the TAST stock analysis. VBI Vaccines (VBIV)Source: Shutterstock VBI Vaccines' (NASDAQ:VBIV) claim to fame is its Sci-B-Vac product, which was the first vaccine to be commercially-approved for hepatitis B. The vaccine is currently available in Israel and ten other countries. It recently completed its Phase 3 program in the U.S., Europe and Canada. After new data was released earlier this month, analysts have been impressed, to say the least.On Jan. 9, the company, which goes for $1.46 a share, announced that Sci-B-Vac had met both its primary and secondary endpoints in the second Pivotal Phase 3 CONSTANT study. Both management and investors were excited by the results as they demonstrate that the candidate is both safe and highly-potent.While this outcome is encouraging, VBIV's potential extends beyond Sci-B-Vac. BMO Capital analyst Do Kim highlights its VBI-1901 and VBI-2601 candidates as potentially driving significant upside. According to the analyst, updated Phase 1/2a tumor response and survival data for VBI-1901's use in glioblastoma multiforme (GMB) is slated for release some time in the first half of 2020. Should the results be favorable, VBIV could develop a modified version to target other EBV+ cancers. On top of this, VBI-2601 proof-of-concept for use in chronic hepatitis B infection (HBV) is expected in the second half of the year."We believe the initial data could be meaningful for VBI's vaccine approach for a functional HBV cure, with the potential for combining beyond antivirals, including Brii's VIR-2218 and other HBsA RNAi. With an estimated 257 million chronically infected patients worldwide, we believe HBV represents a significant market opportunity for a functional cure," Kim commented.Based on everything the healthcare name has going for it, Kim reiterated his "outperform" rating and $5 price target, indicating 242% upside potential.Out of three total analysts that have thrown their hat in with a review, 100% sided with the bulls, making the consensus rating a "strong buy." See the VBIV stock analysis.TipRanks offers investors the latest insight into eight different sectors by tracking the activity of over 5,000 Wall Street analysts. As of this writing, Maya Sasson did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Stocks to Buy for February Contrarians * 10 of the Top Franchise Stocks to Buy Now * 5 High-Yield Stocks With High Free Cash Flow Yields The post 5 Stocks Under $5 With Colossal Growth Prospects appeared first on InvestorPlace.
Institutional investors, portfolio managers, financial analysts, CIOs and other capital market professionals who invest in the energy space should register now for the EnerCom Dallas energy investment conference, which is coming to The Tower Club February 11-12 in downtown Dallas.
One of the best investments we can make is in our own knowledge and skill set. With that in mind, this article will...
Institutional investors, portfolio managers, financial analysts, CIOs and other capital market professionals who invest in the energy space should register now for the EnerCom Dallas energy investment conference, which is coming to The Tower Club February 11-12 in downtown Dallas.
The Insider Monkey team has completed processing the quarterly 13F filings for the September quarter submitted by the hedge funds and other money managers included in our extensive database. Most hedge fund investors experienced strong gains on the back of a strong market performance, which certainly propelled them to adjust their equity holdings so as […]
Today we will run through one way of estimating the intrinsic value of Northern Oil and Gas, Inc. (NYSEMKT:NOG) by...
Northern Oil and Gas (NOG) delivered earnings and revenue surprises of -18.18% and 37.10%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?
We know that hedge funds generate strong, risk-adjusted returns over the long run, therefore imitating the picks that they are collectively bullish on can be a profitable strategy for retail investors. With billions of dollars in assets, smart money investors have to conduct complex analyses, spend many resources and use tools that are not always […]
Azure Power Global's (AZRE) Q2 results are likely to reflect benefits from economies of scale, which in turn, has been bringing down its operating and interest costs.
Pampa Energia's (PAM) Q3 earnings are likely to have been affected by lower electricity demand from industrial and commercial customers.