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AT&T-NextEra Ink Deal to Invest in Wind Farm for Clean Energy
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AT&T Inc. (T - Free Report) recently announced that it has signed a new power purchase agreement with NextEra Energy Resources wherein it will buy 300 megawatts (MW) of wind energy from two new wind farm projects in Wilbarger and Hardeman Counties, TX. The agreement was signed between AT&T and subsidiaries of NextEra, one of the largest wholesale generators of electric power in the United States, further expanding their partnership in the renewable energy program. AT&T also announced a scholarship fund, AT&T Wind Energy Scholarship fund, comprising a contribution of $50,000 to Texas State Technical College (“TSTC”), in an effort to encourage and support technical students in counties with AT&T-backed wind farms.
Environmental Benefit
Early this year, AT&T had announced its partnership with NextEra in a joint renewable energy venture in a bid to support low carbon economy and back two wind energy centers in Webb and Duval Counties, TX and Caddo County, OK. These agreements combined will enable the delivery of 820 MW of power in total, constituting one of the largest corporate renewable energy purchases in the United States. The project is expected to cut total greenhouse gas emissions equivalent to reducing the number of cars on the road by roughly 530,000 per year. The primary goal of this project is to develop technology capable of saving 10 times more carbon in its operational footprint by 2025.
Community Benefits
The project also focuses on financially assisting students of counties namely, Webb, Duval, Wilbarger and Hardeman Counties with scholarship, providing a degree in wind energy from TSTC.
Apart from a low carbon environment, the $350 million dollar project also looks forward to the various positive externalities that will benefit the local community. Thousands of homes will have electricity round the year, about 1,000 construction jobs will be made available, and an estimated flow of nearly $190 million in property tax revenues for local communities, and more than $167 million in lease payments to landowners will be enabled.
A Strategic Move?
This year is turning out to be a very productive one for the media, telecommunications and renewable energy juggernaut AT&T. With the historic win against the Department of Justice in the Times Warner merger case along with the aggressive steps in the renewable energy sector, AT&T has proved to be a very tough competitor. This energy-efficiency initiative comes after T-Mobile (TMUS - Free Report) announced its pledge to use energy from renewable sources for 100% of its energy use by 2021. However, it cannot be said that this announcement has influenced AT&T’s new project, given that the company has heavily invested in more than 65,000 energy efficiency projects resulting in $427 million annual savings per year, since 2010.
Price Performance
Driven by such continued investments and initiatives, the stock has outperformed the industry in the past month, with an average return of 1.7% compared with growth of 0.9% for the latter.
Comtech has an expected long-term earnings growth rate of 5%.
Motorola has an expected long-term earnings growth rate of 8%.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
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AT&T-NextEra Ink Deal to Invest in Wind Farm for Clean Energy
AT&T Inc. (T - Free Report) recently announced that it has signed a new power purchase agreement with NextEra Energy Resources wherein it will buy 300 megawatts (MW) of wind energy from two new wind farm projects in Wilbarger and Hardeman Counties, TX. The agreement was signed between AT&T and subsidiaries of NextEra, one of the largest wholesale generators of electric power in the United States, further expanding their partnership in the renewable energy program. AT&T also announced a scholarship fund, AT&T Wind Energy Scholarship fund, comprising a contribution of $50,000 to Texas State Technical College (“TSTC”), in an effort to encourage and support technical students in counties with AT&T-backed wind farms.
Environmental Benefit
Early this year, AT&T had announced its partnership with NextEra in a joint renewable energy venture in a bid to support low carbon economy and back two wind energy centers in Webb and Duval Counties, TX and Caddo County, OK. These agreements combined will enable the delivery of 820 MW of power in total, constituting one of the largest corporate renewable energy purchases in the United States. The project is expected to cut total greenhouse gas emissions equivalent to reducing the number of cars on the road by roughly 530,000 per year. The primary goal of this project is to develop technology capable of saving 10 times more carbon in its operational footprint by 2025.
Community Benefits
The project also focuses on financially assisting students of counties namely, Webb, Duval, Wilbarger and Hardeman Counties with scholarship, providing a degree in wind energy from TSTC.
Apart from a low carbon environment, the $350 million dollar project also looks forward to the various positive externalities that will benefit the local community. Thousands of homes will have electricity round the year, about 1,000 construction jobs will be made available, and an estimated flow of nearly $190 million in property tax revenues for local communities, and more than $167 million in lease payments to landowners will be enabled.
A Strategic Move?
This year is turning out to be a very productive one for the media, telecommunications and renewable energy juggernaut AT&T. With the historic win against the Department of Justice in the Times Warner merger case along with the aggressive steps in the renewable energy sector, AT&T has proved to be a very tough competitor. This energy-efficiency initiative comes after T-Mobile (TMUS - Free Report) announced its pledge to use energy from renewable sources for 100% of its energy use by 2021. However, it cannot be said that this announcement has influenced AT&T’s new project, given that the company has heavily invested in more than 65,000 energy efficiency projects resulting in $427 million annual savings per year, since 2010.
Price Performance
Driven by such continued investments and initiatives, the stock has outperformed the industry in the past month, with an average return of 1.7% compared with growth of 0.9% for the latter.
Zacks Rank & Stock to Consider
AT&T currently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the industry are Comtech Telecommunications Corp. (CMTL - Free Report) , sporting a Zacks Rank #1 (Strong Buy) and Motorola Solutions, Inc. (MSI - Free Report) carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Comtech has an expected long-term earnings growth rate of 5%.
Motorola has an expected long-term earnings growth rate of 8%.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>