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Itron's (ITRI) Smart Meters to Revamp CenterPoint's Systems
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Itron, Inc. (ITRI - Free Report) recently entered into a contract with CenterPoint Energy, Inc. (CNP - Free Report) to deploy 3 million Itron Intelis natural gas ultrasonic smart meters for modernizing the latter’s natural gas distribution system.
Incorporated in 2002, Houston, TX-based CenterPoint is an energy delivery company that provides electric transmission & distribution, natural gas distribution and competitive natural gas sales and services operations. The company serves more than 7 million metered customers in Louisiana, Minnesota, Mississippi, Ohio and Texas.
Per the latest contract, CenterPoint will leverage Itron’s smart natural gas metering solution to improve safety and service for its customers while enhancing its distribution system’s reliability and efficiency.
Itron’s Intelis gas meter is a compact ultrasonic device that transforms the standard one-way gas distribution network into an interactive two-way energy network that provides useful insights into distribution and consumption by consumers so they can better manage, budget and conserve their energy usage. The Intelis natural gas meter enhances safety with integrated features such as the built-in automatic shutoff valve. This allows the gas meter to shutoff automatically in the event of a high flow or high-temperature incident to reduce the threat of a natural gas explosion.
The Intelis gas meter incorporates embedded intelligence that can automatically sense and stop excess flow, increasing the safety of utility personnel, consumers, and communities. This allows for detecting and preventing potentially dangerous conditions. The meter also features an embedded air detection sensor, which alerts utilities of potential meter tampering or removal, improving safety, theft detection and revenue protection.
These advanced safety and operational features help protect consumers and the utility workforce while offering an intelligent platform for utilities for further value addition beyond basic meter automation. Owing to such benefits, the Intelis natural gas smart metering solution has already exceeded 500,000 shipments to utilities in North America.
CenterPoint is highly optimistic about the deal. Through investment in Itron’s natural gas system, CenterPoint plans to drive safety and reliability at its utilities while also advancing the transition to a clean energy future by reducing related vehicle carbon emissions. Per CenterPoint, these natural gas smart meters will be a win-win for its customers and the environment.
Meanwhile, Itron is excited about deploying its smart meter solution at CenterPoint and delivering unprecedented operational excellence and safety levels. This solution will allow CenterPoint to have two-way communication for monitoring and billing its natural gas assets and boost intelligence capability across distribution networks.
Utility Sector Opportunities Bright
Headquartered in Liberty Lake, WA, Itron is one of the prominent suppliers of a wide array of standard, advanced and smart meters and meter communication systems, including networks and communication modules, sensors, data analytics and services and software devices globally.
Itron has been consistently working toward expanding its global presence, taking advantage of reliable and efficient solutions in the utility sector.
Recently, Itron joined forces with Emerson to offer reliable thermostats as part of its Bring Your Own Device (BYOD), direct install demand response (DR) and distributed energy resource (DER) programs. This will enable utilities to better engage with customers, enhancing grid reliability and sustainability. The alliance will also provide a cost-efficient, customer-focused way of managing air conditioning or heating load throughout a service territory.
Prior to that, Itron and the City of Fuengirola, Spain, collaborated to transform the latter’s smart city vision into a reality. Per the collaboration, the City of Fuengirola, which houses more than 82,000 permanent residents, will deploy Itron’s smart city platform. This solution will include a city-wide mesh network developed for industrial Internet of Things (IIoT) devices and Itron’s device and data management platform, SLV.
Shares of ITRI have plunged 43.1% compared with the industry’s fall of 4.7% in the past year.
Flex has a projected earnings growth rate of 19.75% for fiscal 2022. The Zacks Consensus Estimate for Flex’s fiscal 2022 earnings has been revised upward by 9 cents in the past 60 days.
Flex’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average surprise being 25.6%. Shares of FLEX have dropped 2.7% in the past year.
Iridium has a projected earnings growth rate of 157.14% for 2022. The Zacks Consensus Estimate for Iridium’s 2022 earnings has been revised upward by 2 cents in the past 60 days.
Iridium’s earnings beat the Zacks Consensus Estimate in two of the last four quarters and met estimates twice, the average surprise being 39.4%. Shares of IRDM have gained 4.2% in the past year.
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Itron's (ITRI) Smart Meters to Revamp CenterPoint's Systems
Itron, Inc. (ITRI - Free Report) recently entered into a contract with CenterPoint Energy, Inc. (CNP - Free Report) to deploy 3 million Itron Intelis natural gas ultrasonic smart meters for modernizing the latter’s natural gas distribution system.
Incorporated in 2002, Houston, TX-based CenterPoint is an energy delivery company that provides electric transmission & distribution, natural gas distribution and competitive natural gas sales and services operations. The company serves more than 7 million metered customers in Louisiana, Minnesota, Mississippi, Ohio and Texas.
Per the latest contract, CenterPoint will leverage Itron’s smart natural gas metering solution to improve safety and service for its customers while enhancing its distribution system’s reliability and efficiency.
Itron’s Intelis gas meter is a compact ultrasonic device that transforms the standard one-way gas distribution network into an interactive two-way energy network that provides useful insights into distribution and consumption by consumers so they can better manage, budget and conserve their energy usage. The Intelis natural gas meter enhances safety with integrated features such as the built-in automatic shutoff valve. This allows the gas meter to shutoff automatically in the event of a high flow or high-temperature incident to reduce the threat of a natural gas explosion.
The Intelis gas meter incorporates embedded intelligence that can automatically sense and stop excess flow, increasing the safety of utility personnel, consumers, and communities. This allows for detecting and preventing potentially dangerous conditions. The meter also features an embedded air detection sensor, which alerts utilities of potential meter tampering or removal, improving safety, theft detection and revenue protection.
These advanced safety and operational features help protect consumers and the utility workforce while offering an intelligent platform for utilities for further value addition beyond basic meter automation. Owing to such benefits, the Intelis natural gas smart metering solution has already exceeded 500,000 shipments to utilities in North America.
CenterPoint is highly optimistic about the deal. Through investment in Itron’s natural gas system, CenterPoint plans to drive safety and reliability at its utilities while also advancing the transition to a clean energy future by reducing related vehicle carbon emissions. Per CenterPoint, these natural gas smart meters will be a win-win for its customers and the environment.
Meanwhile, Itron is excited about deploying its smart meter solution at CenterPoint and delivering unprecedented operational excellence and safety levels. This solution will allow CenterPoint to have two-way communication for monitoring and billing its natural gas assets and boost intelligence capability across distribution networks.
Utility Sector Opportunities Bright
Headquartered in Liberty Lake, WA, Itron is one of the prominent suppliers of a wide array of standard, advanced and smart meters and meter communication systems, including networks and communication modules, sensors, data analytics and services and software devices globally.
Itron has been consistently working toward expanding its global presence, taking advantage of reliable and efficient solutions in the utility sector.
Recently, Itron joined forces with Emerson to offer reliable thermostats as part of its Bring Your Own Device (BYOD), direct install demand response (DR) and distributed energy resource (DER) programs. This will enable utilities to better engage with customers, enhancing grid reliability and sustainability. The alliance will also provide a cost-efficient, customer-focused way of managing air conditioning or heating load throughout a service territory.
Prior to that, Itron and the City of Fuengirola, Spain, collaborated to transform the latter’s smart city vision into a reality. Per the collaboration, the City of Fuengirola, which houses more than 82,000 permanent residents, will deploy Itron’s smart city platform. This solution will include a city-wide mesh network developed for industrial Internet of Things (IIoT) devices and Itron’s device and data management platform, SLV.
Shares of ITRI have plunged 43.1% compared with the industry’s fall of 4.7% in the past year.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Itron currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader technology space are Flex Ltd (FLEX - Free Report) and Iridium Communications (IRDM - Free Report) . While Flex flaunts a Zacks Rank of 1 (Strong Buy), Iridium carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Flex has a projected earnings growth rate of 19.75% for fiscal 2022. The Zacks Consensus Estimate for Flex’s fiscal 2022 earnings has been revised upward by 9 cents in the past 60 days.
Flex’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average surprise being 25.6%. Shares of FLEX have dropped 2.7% in the past year.
Iridium has a projected earnings growth rate of 157.14% for 2022. The Zacks Consensus Estimate for Iridium’s 2022 earnings has been revised upward by 2 cents in the past 60 days.
Iridium’s earnings beat the Zacks Consensus Estimate in two of the last four quarters and met estimates twice, the average surprise being 39.4%. Shares of IRDM have gained 4.2% in the past year.