Investing
The Smart Grid Surge Hitting Home (ITRI, COMV, ELON, ED, CEG, DUK, FPL, NVE, POM, SO)
Published:
Last Updated:
We are seeing at least some significant moves from the company’s who have announced that they are grant recipients under part of the $3.4 billion Smart Grid pledge from the Obama administration day. We are seeing the big moves in the companies which traders and investors believe will receive the direct orders from the utilities, and are even seeing gains down in the utilities and power companies who are getting direct grants.
Itron Inc. (NASDAQ: ITRI), for smart metering systems, was up 3% at $59.56 with a $2.38 billion market cap. Comverge, Inc. (NASDAQ: COMV), for peaking and base load capacity solutions to electric utilities, operators, and electric markets, is up 10% at $12.95 with a $286 million market cap. Echelon Corporation (NASDAQ: ELON) is up 7% at $14.70 with a $598 million market cap.
In the utility sector we are seeing the following moves:
- Consolidated Edison Inc. (NYSE: ED) up 0.3% at $41.47; $136 million grant vs. $11.4 billion market cap.
- Constellation Energy Group, Inc. (NYSE: CEG) up 0.4% at $32.03; $200 million grant vs. $6.45 billion market cap.
- Duke Energy Corporation (NYSE: DUK) up 0.15% at $15.95; $200 million grant vs. $20.7 billion market cap.wins $200 million smart grid grant
- FPL Group Inc. (NYSE: FPL) down 2.2% at $50.95; $200 million grant vs. $21 billion market cap.
- NV Energy, Inc. (NYSE: NVE) up 1.3% at $11.52; $138 million grant vs $2.7 billion market cap.
- Pepco Holdings, Inc. (NYSE: POM) up 0.4% at $14.51; $168 million grant vs. $3.2 billion market cap.
- Southern Company (NYSE: SO) up 0.35% at $32.69; $165 million grant vs. $26 billion market cap.
Many of the beneficiary companies have not reported yet their awards.
Jon C. Ogg
October 27, 2009
Take This Retirement Quiz To Get Matched With A Financial Advisor (Sponsored)
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the
advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
