Top Performer for Wed: EnerNOC (ENOC)

EnerNOC, Inc. (ENOC - Snapshot Report) shares have advanced by 5.5% so far on Wednesday, which is enough to make the Zacks #1 Rank Top Performers List.

Volume has jumped to 353,000 shares, which is above the daily average of around 290,000.

EnerNOC is a leading provider of clean and intelligent energy solutions, which include demand response, energy efficiency, energy procurement, and emissions tracking and trading services. These solutions help optimize the balance of electric supply and demand, provide cost-effective alternatives to traditional power generation, transmission, and distribution infrastructure, and drive significant cost-savings for end-use customers.

ENOC is part of the Utilities - Electric Power industry. There is only 1 other name from this space on today's Zacks #1 Rank List: CEMIG SA - ADR (CIG - Analyst Report).

Recent news from ENOC includes a 25 megawatt contract expansion with the Ontario Power Authority and a purchase of its Monitoring-Based Commissioning Energy Efficiency software application by Morgan Stanley.

Earnings Estimates for EnerNOC

The Zacks Consensus Estimate for 2009 is at a loss of 34 cents per share, which has been steady for 2 months. However, that guidance marks a significant improvement from 3 months ago of a loss at 75 cents.

For 2010, the Zacks Consensus Estimate is showing a dramatic year-over-year improvement to a 28-cent profit. Furthermore, the outlook is up 75% from 3 months ago and 12% from 2 months ago.

7 Straight Beats

In early November, EnerNOC announced earnings per share of $1.12 for its third quarter, which handily improved upon the year-earlier performance. The result also beat the Zacks Consensus Estimate by more than 51%.

As the graph above shows, the company has now put together an impressive streak of 7 consecutive quarters with EPS above expectations. Averaging the last 4 quarters, ENOC has surprised by 21%.

Also during the quarter, EnerNOC reported revenue growth of 134% year over year to $103.1 million from $44.2 million.

"We believe that we have reached an inflection point in our business," stated EnerNOC Chairman/CEO Tim Healy. "By nearly doubling our megawatts under management over the past year and continuing to drive operational efficiencies, we were able to eclipse $100 million in quarterly revenue and generate more than a dollar per share in GAAP earnings."

Mr. Healy went on to say that EnerNOC has positioned itself to achieve its objectives for 2009 and deliver positive GAAP EPS in 2010.

EnerNOC also enhanced its GAAP loss per share and revenue outlook for 2009, now expecting a loss between 30 cents and 38 cents on revenue of $187 million to $189 million.

Read the full analyst report on CIG

Read the full analyst report on ENOC