We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Avista (AVA) Seeks Tender Offer From Developers of Renewable
Read MoreHide Full Article
Avista Corporation (AVA - Free Report) announced that it is seeking proposals or tender offer from the developers of the renewable energy projects, who owns or operates or can build up to an average of 50 megawatts (MW) of renewable energy via single or multiple proposal with a minimum net annual output of average 5 MW of electricity. Avista will consider proposals that include storage associated with the generation assets.
To avoid complexities of building the facility, the company has come up with a Request for Proposal (RFP). The parties eligible for a tender offer to the company via RFP should own an existing facility, propose to develop or should possess rights to construct facilities for generation of renewable energy.
Avista’s Take on Renewables & Capex Plan
The company is intending to increase the energy output more from the renewable source. It is looking forward to opportunities for acquisition or addition of more renewable energy resources to its existing capacity in order to offset market purchases and fossil fuel energy generation. The company is planning to generate electricity at lower cost in the long term, thereby reducing the heavy dependence on fossil fuel to some extent.
As of Dec 31, 2017, the company had total capacity of 1,875 MW with an electricity generation mix of 55.5% from renewable (Hydro-49%, Wind-4.5% and Biomass-2%).
The company is expected to incur a capital expenditure of around $1,237 million over the 2018-2020 period on generation, transmission and distribution system to preserve and enhance the reliability of the services provided to its customers and to replace the aging infrastructure.
Importance of Renewable
Renewable Energy source has been gaining momentum globally. Wind and solar power have been two of the fastest growing sources of electricity generation on the international front over the past decade. In 2017, global installed wind capacity grew by nearly 11%, thus bringing the global total to 540 GW. Projections by the International Energy Agency indicate that renewable energy will continue to grow more rapidly than fossil fuels over the next two decades.
In 2018, per U.S. Energy Information Administration report, 9 GW of new solar and wind assets will be added, thus underscoring the rising significance of renewable sources in the United States.
Price Movement
In the past year, shares of Avista have outperformed the Zacks Utility industry. The stock has rallied 21.2% versus the industry’s decline of 9.6%.
Stocks to Consider
Avista currently carries a Zacks Rank #3 (Hold). Better-ranked stocks from the same industry include Ameren Corporation (AEE - Free Report) , Duke Energy Corporation (DUK - Free Report) and IDACORP, Inc. (IDA - Free Report) , each with a Zacks Rank #2 (Buy).
Ameren Corporation came up with a positive earnings surprise of 6.90% in the first quarter of 2018. Over the past 60 days, the consensus estimate for current-year earnings has gone up from $3.02 per share to $3.04.
Duke Energy Corporation delivered a positive earnings surprise of 11.30% in the first quarter of 2018. Over the past 60 days, the consensus mark for full-year bottom line has been revised upward from $4.70 to $4.71 per share.
IDACORP, Inc. pulled off a positive earnings surprise of 1.41% in first-quarter 2018. Over the past 60 days, the Zacks Consensus Estimate for 2018 earnings has been moved north from $4.18 to $4.19 per share.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
Image: Bigstock
Avista (AVA) Seeks Tender Offer From Developers of Renewable
Avista Corporation (AVA - Free Report) announced that it is seeking proposals or tender offer from the developers of the renewable energy projects, who owns or operates or can build up to an average of 50 megawatts (MW) of renewable energy via single or multiple proposal with a minimum net annual output of average 5 MW of electricity. Avista will consider proposals that include storage associated with the generation assets.
To avoid complexities of building the facility, the company has come up with a Request for Proposal (RFP). The parties eligible for a tender offer to the company via RFP should own an existing facility, propose to develop or should possess rights to construct facilities for generation of renewable energy.
Avista’s Take on Renewables & Capex Plan
The company is intending to increase the energy output more from the renewable source. It is looking forward to opportunities for acquisition or addition of more renewable energy resources to its existing capacity in order to offset market purchases and fossil fuel energy generation. The company is planning to generate electricity at lower cost in the long term, thereby reducing the heavy dependence on fossil fuel to some extent.
As of Dec 31, 2017, the company had total capacity of 1,875 MW with an electricity generation mix of 55.5% from renewable (Hydro-49%, Wind-4.5% and Biomass-2%).
The company is expected to incur a capital expenditure of around $1,237 million over the 2018-2020 period on generation, transmission and distribution system to preserve and enhance the reliability of the services provided to its customers and to replace the aging infrastructure.
Importance of Renewable
Renewable Energy source has been gaining momentum globally. Wind and solar power have been two of the fastest growing sources of electricity generation on the international front over the past decade. In 2017, global installed wind capacity grew by nearly 11%, thus bringing the global total to 540 GW. Projections by the International Energy Agency indicate that renewable energy will continue to grow more rapidly than fossil fuels over the next two decades.
In 2018, per U.S. Energy Information Administration report, 9 GW of new solar and wind assets will be added, thus underscoring the rising significance of renewable sources in the United States.
Price Movement
In the past year, shares of Avista have outperformed the Zacks Utility industry. The stock has rallied 21.2% versus the industry’s decline of 9.6%.
Stocks to Consider
Avista currently carries a Zacks Rank #3 (Hold). Better-ranked stocks from the same industry include Ameren Corporation (AEE - Free Report) , Duke Energy Corporation (DUK - Free Report) and IDACORP, Inc. (IDA - Free Report) , each with a Zacks Rank #2 (Buy).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Ameren Corporation came up with a positive earnings surprise of 6.90% in the first quarter of 2018. Over the past 60 days, the consensus estimate for current-year earnings has gone up from $3.02 per share to $3.04.
Duke Energy Corporation delivered a positive earnings surprise of 11.30% in the first quarter of 2018. Over the past 60 days, the consensus mark for full-year bottom line has been revised upward from $4.70 to $4.71 per share.
IDACORP, Inc. pulled off a positive earnings surprise of 1.41% in first-quarter 2018. Over the past 60 days, the Zacks Consensus Estimate for 2018 earnings has been moved north from $4.18 to $4.19 per share.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
See This Ticker Free >>