Chesapeake Utilities Corporation (CPK - Free Report) announced that it has entered into a partnership with CleanBay Renewables Inc. (CleanBay) to provide clean energy forcustomers. This agreement will offer the company an opportunity to bring more renewable natural gas to its Delmarva operations.
Insight Into the Arrangement
Per the arrangement, the renewable natural gas produced at CleanBay's planned Westover, MD bio-refinery will be transferred to the market with the help of Chesapeake Utilities and its subsidiaries Eastern Shore Natural Gas Company (ESNG) and Marlin Gas Services.
Using a virtual pipeline concept, Marlin Gas will transport renewable natural gas from the CleanBay facility to ESNG, Chesapeake Utilities’ interstate infrastructure pipeline, from where it will be circulated to end users including the low-carbon, renewable vehicle fuel customers.
Benefits
According to CleanBay’s executive chairman, the process by which poultry litter is turned into renewable natural gas is a sustainable and environmentally-friendly. This will positively impact the region's poultry ecosystem and also reduce U.S. greenhouse gas emissions for end-users including powering vehicle fleets with clean, green energy. Moreover, this deal is in line with the company’s strategic vision of providing its customers with eco-friendly and diverse energy.
CleanBay's Westover infrastructure will recycle more than 150,000 tons of chicken litter annually and likely generate 765,000 MMBTUs of sustainable renewable natural gas, which can meet the needs of nearly 10,000 homes. Also, the clean energy produced at each facility will lower 550,000 tons of greenhouse gas emission equivalents on an annual basis.
Global Scenario
With increasing awareness to trim toxic emissions globally, companies are adopting clean energy sources to provide an environmentally-friendly resource to its end users. Adhering to this, Chesapeake Utilities and its units are set on a mission to produce clean, affordable and reliable energy throughout its infrastructure.
Zacks Rank & Price Performance
Currently, the stock carries a Zacks Rank #3 (Hold). Shares of the company have lost 9.2% in the past six months compared with the industry’s decline of 30.7%.
Stocks to Consider
A few better-ranked stocks are Atmos Energy Corporation (ATO - Free Report) , Southwest Gas Corporation (SWX - Free Report) and Sempra Energy (SRE - Free Report) , all carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Atmos Energy’s fiscal 2020 earnings has moved 0.21% north over the past 60 days. It’slong-term (three-five years) earnings are expected to grow at 7.20%.
The long-term earnings growth rate for Southwest Gasis pegged at 6%. The Zacks Consensus Estimate for 2020 earnings has remained unchanged over the past 60 days.
SempraEnergy’s long-term earnings growth rate is 7.18%. It has a trailing four-quarter positive earnings surprise of 11.05%, on average.
Zacks Top 10 Stocks for 2020
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Chesapeake Utilities Corporation (CPK - Free Report) announced that it has entered into a partnership with CleanBay Renewables Inc. (CleanBay) to provide clean energy forcustomers. This agreement will offer the company an opportunity to bring more renewable natural gas to its Delmarva operations.
Insight Into the Arrangement
Per the arrangement, the renewable natural gas produced at CleanBay's planned Westover, MD bio-refinery will be transferred to the market with the help of Chesapeake Utilities and its subsidiaries Eastern Shore Natural Gas Company (ESNG) and Marlin Gas Services.
Using a virtual pipeline concept, Marlin Gas will transport renewable natural gas from the CleanBay facility to ESNG, Chesapeake Utilities’ interstate infrastructure pipeline, from where it will be circulated to end users including the low-carbon, renewable vehicle fuel customers.
Benefits
According to CleanBay’s executive chairman, the process by which poultry litter is turned into renewable natural gas is a sustainable and environmentally-friendly. This will positively impact the region's poultry ecosystem and also reduce U.S. greenhouse gas emissions for end-users including powering vehicle fleets with clean, green energy. Moreover, this deal is in line with the company’s strategic vision of providing its customers with eco-friendly and diverse energy.
CleanBay's Westover infrastructure will recycle more than 150,000 tons of chicken litter annually and likely generate 765,000 MMBTUs of sustainable renewable natural gas, which can meet the needs of nearly 10,000 homes. Also, the clean energy produced at each facility will lower 550,000 tons of greenhouse gas emission equivalents on an annual basis.
Global Scenario
With increasing awareness to trim toxic emissions globally, companies are adopting clean energy sources to provide an environmentally-friendly resource to its end users. Adhering to this, Chesapeake Utilities and its units are set on a mission to produce clean, affordable and reliable energy throughout its infrastructure.
Zacks Rank & Price Performance
Currently, the stock carries a Zacks Rank #3 (Hold). Shares of the company have lost 9.2% in the past six months compared with the industry’s decline of 30.7%.
Stocks to Consider
A few better-ranked stocks are Atmos Energy Corporation (ATO - Free Report) , Southwest Gas Corporation (SWX - Free Report) and Sempra Energy (SRE - Free Report) , all carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Atmos Energy’s fiscal 2020 earnings has moved 0.21% north over the past 60 days. It’slong-term (three-five years) earnings are expected to grow at 7.20%.
The long-term earnings growth rate for Southwest Gasis pegged at 6%. The Zacks Consensus Estimate for 2020 earnings has remained unchanged over the past 60 days.
SempraEnergy’s long-term earnings growth rate is 7.18%. It has a trailing four-quarter positive earnings surprise of 11.05%, on average.
Zacks Top 10 Stocks for 2020
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2020?
Last year's 2019 Zacks Top 10 Stocks portfolio returned gains as high as +102.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Access Zacks Top 10 Stocks for 2020 today >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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