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Benzinga
Lithium And Hydrogen Trades: 5 Battery-Related Stocks To Watch
Stocks in electric battery technology have been heating up as automakers, airlines and equipment manufacturers continue to form partnerships with tech companies. Batteries are essential to many of the technologies that innovators hope will replace fossil fuel-burning machines. This bodes well for makers of lithium-ion batteries and hydrogen fuel cells. Five Battery Technology Companies To Watch: Australian mining company Piedmont Lithium ADR (NASDAQ: PLL) has been on a tear since it announced a deal with Tesla Inc (NASDAQ: TSLA) last September. Piedmont signed a five-year agreement to supply Tesla with one-third of its planned 160,000-tonnes-per-year spodumene concentrate, a type of lithium ore, from its deposits in North Carolina. Since the announcement, shares of Piedmont have soared more than 430%. This past November, Piedmont announced an expansion of its drilling operations, adding three new drill rigs in North Carolina. CEO Keith Phillips said in a press release that the North Carolina investment positions the company to be a part of “North America’s clean energy storage and EV revolution.” North Carolina-based Albemarle Corp (NYSE: ALB) is another one to watch. In January, Albemarle announced an expansion of its operations in Silver Peak, Nevada, where it hopes to accelerate lithium production from clay resources in the area. Albemarle also announced it was experimenting with a process to streamline lithium production from brine resources, a project sponsored by the U.S. Department of Energy. Shares rose to an all-time high on Jan. 20, but have since have since come down by 17%. Livent Corp (NYSE: LTHM) share prices surged last November after the company reported it had extended its lithium supply agreement with Tesla. Besides suppling chemicals for electric vehicle batteries, Livent also produces butyllithium and lithium metal for the pharmaceutical, aerospace and agrochemical industries. Although Livent shares have rocketed over 300% from March 2020 lows, shares dropped Friday after Livent reported less than stellar earnings. Hydrogen fuel cell company Plug Power Inc (NASDAQ: PLUG), based in Latham, New York, sells alternatives to traditional batteries. The company announced on Tuesday that it had entered into an agreement with Acciona S.A., a sustainable infrastructure company in Spain. The companies hope to grab 20% of the market share in Spain and Portugal through the establishment of a green hydrogen platform. Shares in Plug Power hit a high of $75.49 in January, a 134% increase since the start of the year but have recently retraced by almost 30%. FuelCell Energy Inc (NASDAQ: FCEL) has longtime partner Exxon Mobil Corporation (NYSE: XOM) behind it and in 2019 the collaboration expanded in a deal worth more than $60 million for large-scale carbon capture. Danbury, Connecticut-based FuelCell makes fuel cell power plants that generate clean energy for government, utility and municipality customers. Its products use hydrogen-rich fuels to generate power and also try to improve on the functions of traditional batteries. Shares in FuelCell soared over 175% in January, but have recently dropped over 30% as investors wait for consolidation. (Photo by Riccardo Annandale on Unsplash) See more from BenzingaClick here for options trades from BenzingaAfter Q4 Miss From Planet Fitness, 4 Analysts On What’s Ahead For Gym ChainVisa, ADP Partner To Unveil New Direct Deposit Option Via Debit Card© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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InvestorPlace
7 Blockchain Stocks to Buy to Go Beyond Crypto
Although cryptocurrencies have revolutionized the investment markets, they’re also incredibly risky. I would know. Recently, I explained that I had to exit out of the Bitcoin (CCC:BTC-USD) sector because it was too much. However, for those who are considering virtual currencies, you may be better served with blockchain stocks. First off, I simply don’t know where cryptocurrencies as a speculative vehicle will end up. That’s one of the reasons why I exited before the $50,000 target that I had previously called. Don’t get me wrong — I still believe in the continued rise of Bitcoin, and, therefore, I maintain a modest position. But I also had to get something out of this ride. Otherwise, it’d be for naught. Second, blockchain stocks represent investments in the underlying technology of Bitcoin and other virtual tokens. While I’m not 100% certain what the future of cryptos hold, I’m much more confident in the belief that the decentralized distributed public ledger system will carry on. Not only that, the blockchain will spark additional innovations in the world of fintech.InvestorPlace – Stock Market News, Stock Advice & Trading Tips This segues into my third point: The innovation underlining blockchain stocks represents true financial connectivity and integration. For instance, bank wire transfers are slow and expensive. Moreover, they become problematic when dealing with countries that may not have the most robust economic infrastructure. We need something that’s cheap and effective, and only the blockchain has forwarded a reasonable proposal. Beyond that, mitigating or outright eliminating the friction in peer-to-peer transactions will help our own economy manage the destruction caused by the novel coronavirus. With the possibility of an extended recession, the number of individuals being forced out of the financial system may rise substantially. Therefore, only technology will solve this dilemma, which benefits these blockchain stocks to buy. 7 Overvalued Stocks Investors Just Don’t Get Tired Of As you can see from the list below, the available companies are very diverse, ranging from blue-chip giants to speculative names. Therefore, blockchain stocks offer something for everyone, irrespective of your risk tolerance. Let’s take a look: Visa (NYSE:V) IBM (NYSE:IBM) CME Group (NASDAQ:CME) Nvidia (NASDAQ:NVDA) Advanced Micro Devices (NASDAQ:AMD) SolarWorld (OTCMKTS:SRWRF) Bitfarms (OTCMKTS:BFARF) Visa (V) Source: Kikinunchi / Shutterstock.com Initially, many corporate and government institutions regarded Bitcoin and other cryptocurrencies as competition for the global financial system. Nothing could be further from the truth. In reality, by utilizing the blockchain innovation, blue-chip companies like Visa can offer services that meet the increasing demands of their clients. In the credit card company’s case, management developed the Visa B2B Connect platform, which processes corporate cross-border business-to-business payments in a safe, secure and predictable manner. This is huge for Visa, as virtual currencies as a concept will not be going away anytime soon. Further, Visa stock can benefit from the superiority of the blockchain technology. Basically, the platform is more efficient than other alternatives because the trust component between two parties is not handled by a human (and therefore corruptible) entity but rather, an immutable digital record. If you’re not interested in the wild swings of the cryptocurrencies themselves, stable blockchain stocks like Visa provide exposure to a relevant innovation that won’t leave you hanging. IBM (IBM) Source: Laborant / Shutterstock.com When you hear the term blockchain stocks, you can’t help but think about the wild gyrations in the cryptocurrency markets. More than likely, something like IBM stock doesn’t immediately fit the profile. However, as sedate as “Big Blue” may be for some investors, it’s worth considering for safe exposure to this burgeoning technology. As you may know, the company established its IBM Blockchain platform to help enterprises and institutions deal with various challenges that extend beyond financial purposes. A brilliant example of this is the Covid-19 vaccine rollout. Thanks to the blockchain’s immutable characteristic, IBM is able to deliver real-time end-to-end traceability for vaccine distribution. While I hope that we never have to hear about Covid-anything in the future, if we do have another health crisis, Big Blue will be ready. That bodes well for IBM stock. 7 Blue-Chip Stocks That Aren’t a Gamble And like other blue-chip blockchain stocks, IBM has several other revenue channels in case the decentralized ledger doesn’t pan out. In particular, its artificial intelligence (AI) and cybersecurity solutions are compelling under the current circumstances. CME Group (CME) Source: Marko Aliaksandr/ShutterStock.com Though not directly one of the blockchain stocks, CME Group nevertheless gave the entire digital currency complex a massive credibility boost. You see, as the world’s largest financial derivatives exchange, CME offers investors the ability to trade on almost anything. With cryptocurrencies as part of its offerings, the sector is now a legitimate one. In addition, buying CME stock provides you with exposure to Bitcoin trading without having to step into the arena. In a way, owning equity in CME is the loose equivalent of selling tickets to the big game rather than betting on one team to beat the other. No, you’re probably not going to get rich off CME, but you’re likely not going to be left destitute. Further, the ability to buy Bitcoin futures and trade options contracts affords the underlying asset the constant price movements that allow day trading to occur. Overall, CME Group’s involvement in the space is positive for the digitalized economy, and it should turn out to be a good deal for CME stock too. Nvidia (NVDA) Source: rafapress / Shutterstock.com Technically more of a crypto-mining play, I nevertheless included Nvidia in this list of blockchain stocks because mining is what makes most decentralized distributed public ledgers tick. Again, the beauty of this platform is that two parties that don’t necessarily trust each other don’t have to rely on a third-party intermediary that both may not mutually trust. Instead, the intermediary is the blockchain system itself. However, public blockchains require participation of nodes (computers) to verify transactions that occur within the system. This is where mining comes into the picture, with blockchain users competing for the right to verify such transactions and receive digital tokens as a reward. However, to win this competition consistently usually entails intensive hardware. Arguably, Nvidia provides the best processors for mining tasks, which greatly benefits NVDA stock. 7 Stocks That Elon Musk Loves — And That You Should Too Further, you don’t have to be a big believer in blockchain stocks to appreciate Nvidia. The semiconductor firm has exposure to multiple relevant businesses, including video games, machine learning and autonomous solutions. Thus, you really can’t go wrong with NVDA stock. Advanced Micro Devices (AMD) Source: Sundry Photography / Shutterstock.com If I’m going to mention Nvidia on this list of blockchain stocks, then I’m obligated to also include Advanced Micro Devices. Admittedly, this is part of self-preservation. Otherwise, I’d get a lot of heat from fans of AMD stock, and I’m already hundreds of emails behind. I don’t need any more to flood my inbox. Seriously, though, Advanced Micro more than deserves inclusion as a blockchain/crypto-mining play. In recent years, the company has been taking it to its larger rivals. Years ago, AMD was an afterthought in the broader chip-manufacturing space. Now, it’s a legitimate leader in multiple semiconductor segments, including graphics processing units (GPUs) that cater toward mining operations. Also, you may be interested to know that AMD stock could possibly be a leading indicator for Bitcoin and major altcoins. It appears that a sizable rally in AMD shares precedes robust moves in the cryptocurrency. If that’s true, I don’t see why the two assets can’t be mutually beneficial moving forward — higher interest crypto mining is generally good for both Bitcoin and AMD’s GPU revenues. SolarWorld (SRWRF) Source: Diyana Dimitrova / Shutterstock.com No, SolarWorld has nothing directly to do with blockchain stocks. And no, I haven’t lost my mind. Just hear me out for a second. Although cryptocurrencies to skeptics sound like digital fairy dust, the truth is that the process of mining these tokens require real “work.” That is, the energy needed to extract most virtual currencies require some level of sacrifice. Sure, sacrifice doesn’t necessarily give them value. However, it would be wrong to assume that crypto coins are materialized for nothing. However, as cryptocurrencies have become more popular, the energy requirements needed to extract many of these coins have become much more intensive. And this is where SRWRF stock comes into the picture. As a solar energy investment, the underlying product could potentially help make crypto mining more profitable for newcomers as it may mitigate utility costs. 9 Meme Stocks That Social Media Won’t Shut Up About Using solar energy to extract cryptocurrencies isn’t a new concept. However, it could become incredibly popular now that this market has attracted mainstream attention. While SRWRF stock is a speculative trade, it’s well worth consideration with “dumb” money. Bitfarms (BFARF) Source: Shutterstock Gone are the days when you can mine Bitcoin on your laptop. As the original digital token increased in value and popularity, so too did its mining difficulty. Now, it can cost thousands, even tens of thousands of dollars to run a Bitcoin mining operation — and you’re not even guaranteed to be successful with such a cash outlay! Therefore, crypto-mining farms — or dedicated mining centers — have popped up across the world. Bitfarms is one such mining farm, and, conceptually, it’s an intriguing one. Utilizing clean and competitively priced hydroelectricity, BFARF stock represents an environmentally responsible way to mine Bitcoin. As well, the company operates five mining facilities in Quebec, Canada. Geographically, this would seem to be an advantage as the colder climate should help prevent Bitfarms’ mining equipment from overheating. You’d think that this will help extend the life of the equipment, possibly making BFARF stock a shrewd speculative idea. Nevertheless, this is a wild one, so don’t get involved with money you can’t afford to lose. On the date of publication, Josh Enomoto held a long position in BTC. A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. More From InvestorPlace Why Everyone Is Investing in 5G All WRONG Top Stock Picker Reveals His Next Potential Winner It doesn’t matter if you have $500 in savings or $5 million. Do this now. #1 Play to Profit from Biden’s Presidency The post 7 Blockchain Stocks to Buy to Go Beyond Crypto appeared first on InvestorPlace.
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Benzinga
Michael Burry’s Top 5 Holdings: Pfizer, CitiGroup, Kraft Heinz, More
On Tuesday, Feb. 16, the SEC released filings from many high-profile investors such as Warren Buffett, Cathie Wood and Michael Burry. Burry, of “The Big Short” fame, had GameStop as his biggest holding in June when the stock was at only $4. He reportedly sold his shares before the stock skyrocketed all the way up to more than $300 per share. Here are Burry’s top five holdings by dollar amount according to the most recent filing. No. 5: DistributionNOW, $10,770,000 In Common Stock NOW Inc (NYSE: DNOW) is an energy company located in Houston, Texas. Demand for energy in Texas will certainly be a catalyst, so this move should be interesting to watch. No. 4: Lumen Technologies, $11,213,000 In Common Stock Lumen Technologies Inc (NYSE: LUMN), parent company of CenturyLink, offers communication technology such as WiFi and cloud services. Burry is betting here that COVID-19 restrictions will keep people working from home. No. 3: Kraft Heinz Co., $20,439,000 In Call Options (Notional Value) Burry bought $204,390 in call options on Kraft Heinz Co (NASDAQ: KHC) that could be worth more than $20 million if executed. Kraft Heinz Company is of course a staple consumer goods company in the United States, producing hundreds of household products. The call options indicate that Burry is very bullish in the short term. No. 2: Pfizer $31,079,000 in Call Options (Notional Value) Burry purchased more than $300,000 in Pfizer Inc. (NYSE: PFE) call options. Burry is hoping that the Pfizer vaccine proves to be the most effective out of the bunch. If he’s right, this move could really pay off. No. 1, Michael Burry’s Biggest Position: CitiGroup, $33,272,000 in Call Options (Notional Value) In what might be a surprise to some investors, Burry’s biggest position in the most recent filing was Citigroup Inc (NYSE: C). Burry bought more than $330,000 in call options on the investment firm. CitiGroup’s stock hasn’t moved much throughout the last six months, but Burry is betting it will with these $33 million in call options. Photo by Norbert Nagel via Wikimedia. See more from BenzingaClick here for options trades from BenzingaKubient Is Using Advanced Cloud Technology To Innovate Digital Advertising by Eliminating FraudTexas Hit By Freezing Cold, Enacts Rolling Blackouts© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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TipRanks
3 Stocks Flashing Signs of Strong Insider Buying
For an individual investor to beat the market, you need an edge. Investing strategies come in different forms and you can rely on several factors to achieve the end goal of strong returns. Be it following analyst ratings, upcoming catalysts or recognizing the latest market moving trends. There is another option: following the signal from those in the know – the corporate insiders. These are the company officers whose positions give them both access to frequently privileged information on business plans and finances and the experience necessary to translate that into smart stock trades. And better yet – they are not wholly free actors. Being responsible to shareholders and Boards of Directors for company profits, these insiders cannot use their inside knowledge for selfish purposes. Which means that following their stock trades, especially of their own companies, can be a viable investment strategy. Fortunately, federal regulations require that the insiders make their inside trades public – to keep the playing field level. To make that search easier, the TipRanks Insiders’ Hot Stocks tool gets the footwork started – identifying stocks that have seen informative moves by insiders, highlighting several common strategies used by the insiders, and collecting the data all in one place. We’ve picked three stocks with recent informative buys to show how the data works for you. Calix, Inc. (CALX) The first stock we’re looking at is Calix, a cloud computing tech company. Calix follows a subscription model, offering cloud software, systems, platforms, services, and solutions to the communications industry. Calix’s products give the customers real-time data and data insights into their end-users, allowing them to more efficiently monetize their business and customer interactions. Calix, like many high-tech software platform companies, offers a system that can streamline operations – a vital advantage in today’s expanding remote work climate. The company’s revenues reflect the growth-oriented environment: the top line showed year-over-year growth in each quarter of 2020, with the most recent, Q4, coming in at $170 million being the best of the past two years. EPS, at 37 cents, was up 15% from Q3, and was positive for the second quarter in a row – a feat the company had been unable to achieve over the past two years. With a background like that, it’s no wonder that this stock is seeing insider buying. The most recent purchase is from Board member Donald Listwin, who bought up 20,000 shares, shelling out almost $715,000. 5-star analyst Paul Silverstein, of Cowen, notes that Calix has adopted an age-old strategy for beating the forecasts: “4Q20 fuels our view that near- and long-term earnings power and cash flow continue to be significantly greater than what Street has modeled… we respectfully note that CALX has established a clear pattern of appropriately and admirably taking a highly conservative stance as to risk assessment and, concomitantly, under-promising and over-delivering.” Silverstein clearly likes Calix’s approach, and he rates the stock an Outperform (i.e. Buy). On top of this, the analyst gives the stock a $45 price target, which implies a one-year upside of 23%. (To watch Silverstein’s track record, click here) What does the rest of the Street think? Looking at the consensus breakdown, opinions from other analysts are more spread out. 3 Buys and 2 Holds add up to a Moderate Buy consensus. In addition, the $37.40 average price target indicates a modest upside from current levels. (See CALX stock analysis on TipRanks) DXC Technology Company (DXC) Founded in 2017, in part as a spin-off from Hewlett Packard Enterprises, DXC is a leader in the business-to-business (B2B) IT field. The company’s products allow global companies to run their critical systems and ops efficiently, with security and scalability at a variety of levels. DXC’s enterprise tech enhances performance and competitiveness, and therefore the customer experience. The company has been seeing a dropoff in revenues over the past two years. It saw $19.5 billion in revenues for calendar year 2020, but is on track come in at ~$18 billion for fiscal 2021. The most recent quarter reported, fiscal 3Q21, showed $4.29 billion at the top line, falling 14.6% year over year. However, earnings, at $4.29, were far stronger than the 80-cent and 96-cent losses reported in the previous two quarters. Despite the falling revenues, the company has maintained its dividend, paying out 21 cents per common share over the past year, for a current yield of 3.2%. Looking at the recent insider trades, we see that Board member Raul Fernandez made two purchases this month, buying up 11,443. Fernandez paid nearly $300,00 for the new shares. In a comprehensive review of DXC, RBC analyst Daniel Perlin, rated 5-stars at TipRanks, writes: “We believe that FQ3/21’s results provided proof points that DXC’s transformation is progressing. In terms of customer focus, we note that revenue in the quarter increased 3.1% q/q and 1.7%… the second quarter in a row of sequential improvement…” Perlin went on to list several reasons for his bullish thesis: “1) management succeeding on its strategic plan and achieving its FY22 targets; 2) DXC evolving into an at-scale digital / new technology player, which should help offset declines in traditional solutions; and 3) valuation is attractive relative to peers, especially given potential upside to synergy targets.” Perlin uses these comments to support an Outperform (i.e. Buy) rating on DXC, and a $38 price target that indicates room for a robust 46% upside in the next 12 months. (To watch Perlin’s track record, click here) The Wall Street analysts are taking a range of views on this stock, as shown by the 10 recent reviews – which include 4 Buys and 6 Holds. Added up, it comes out to a Moderate Buy analyst consensus rating. The average price target, at $31, implies a 19% one-year upside from the current trading price of $26.06. (See DXC stock analysis on TipRanks) Northern Oil and Gas (NOG) Last but not least is Northern Oil and Gas, a highly localized hydrocarbon explorer, with assets in the states of Montana and North Dakota, specifically, the Williston Basin. NOG owns a large acreage footprint in the region, holding title to the lands on which developers will drill and complete oil and gas wells. This year, NOG has made two moves to increase its operating capital. The second move was announced on February 8 – an offering of senior notes at 8.125%, due in 2028. Proceeds are to be used to repay various outstanding debts and interest obligations, and then to help fund acquisition of new natural gas assets. The new land acquisitions targeted are in the Appalachian region, and will mark a true expansion for Northern Oil and Gas. The first capital move, however, is more interesting for this current article. On February 4, the company announced that it was putting 12.5 million shares of common stock on the market, at a price of $9.75 per share. Capital raised will be used first to fund the Appalachian Basin land buy, and then to repay debt and fund general operations – these are standard conditions on this type of capital drive. Company Board member Stuart Lasher bought 25,000 shares of NOG just a few days after the public stock offering was announced. The recent bloc of shares was picked up for $243,750. RBC’s Scott Hanold is clearly bullish on this company’s expansion to a new region, writing, “NOG’s Appalachian acquisition was strategic by accelerating leverage reduction, balance sheet clean-up, and diversifying its asset and commodity footprints. The move into the Marcellus gas play underpins management’s aptitude to focus on generating the best economic returns…” Hanold rates NOG an Outperform (i.e. Buy), and his $15 price target suggests the stock has room for 37% growth this year. (To watch Hanold’s track record, click here) With 4 recent reviews, all Buys, the Strong Buy analyst consensus rating here is unanimous. Northern’s shares are priced at $10.99 and they have an average price target of $14.75, indicating that the stock has a 34% one-year upside potential. (See NOG stock analysis on TipRanks) To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
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Bloomberg
A Giant Flaw in Texas Blackouts: It Cut Power to Gas Supplies
(Bloomberg) — When the Texas power grid was on the brink of collapse and its operator plunged thousands into darkness, it didn’t make an exception for the oil and gas field.Power was, unsurprisingly, diverted to hospitals and nursing homes. Ercot, as the grid manager is known, was staving off utter catastrophe, its chief executive later said.But leaving shale fields like the Permian Basin dark had an unintended consequence. Producers who depend on electricity to power their operations were left with no way to pump natural gas. And that gas was needed more than ever to generate electricity.As one executive described: It was like a death spiral.The result was a vicious cycle that serves as a painful lesson to any power grid operator and utility company dealing with rolling outages during extreme weather. Several energy companies say that, while frozen infrastructure and equipment malfunctions caused gas volumes to plummet, a lack of power also had a profound impact on supply. It’s a phenomenon that highlights just how interconnected — and interdependent — Texas’s energy network is.In the Permian, most drillers target more valuable crude, with gas typically considered an unwanted byproduct. That wasn’t the case over days of forced power outages as nearly every source of fuel faltered in the unprecedented cold that slammed Texas.Even with its explorers focusing on crude, the state is the country’s biggest gas producer, and the fuel makes up just over half of the sources of its power generation mix.A crucial part of the natural gas system was knocked out by the power outages: compressor stations that help keep gas flowing through pipelines.As Ercot started asking utilities to prompt big customers to reduce consumption Sunday evening, those stations went down and the pressure across multiple gas pipelines started to drop, ultimately tripping some utilities off line because of lack of fuel.That, in turn, led some areas of the Eagle Ford shale and the Permian to simply turn off gas production completely.The situation got much worse in the early hours of Monday as demand continued to climb. Ercot simply didn’t have the power, and millions of homes fell into darkness.Ercot executives have said the utilities ultimately determine which circuits to turn off during a rotating outage. The grid operator didn’t have information on power being cut to gas compressor stations, a spokeswoman said in an email.At its peak, nearly 40% of U.S. oil output was shuttered due to the extreme cold and associated blackouts. Three-quarters of the U.S. frack fleet was lost this week, leaving 41 crews working to blast water, sand and chemicals underground to release trapped oil and gas, Matt Johnson, chief executive officer at Primary Vision Inc., said Friday.Already, companies including Marathon Oil Corp. and Devon Energy Corp. have begun using restored power from local grids or generators to restart output, according to people familiar with the matter.It’s not yet clear how long it will take to restore all the lost oil and gas supply, but oil traders and executives have said they hope most of the production lost will return within days as temperatures rise and power becomes available.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
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Benzinga
Palantir Replaces GameStop As WallStreetBets’ Top Interest
Palantir Technologies Inc (NYSE: PLTR) is emerging as the new darling of the Reddit investor forum r/WallStreetBets. What Happened: The comment volume on the Peter Thiel co-founded company stood at 2,535 as against 1,465 on GameStop Corp (NYSE: GME), according to SwaggyStocks, a website that monitors WallStreetBets trends. The data analytics firm’s shares fell to their lowest level since late January after it reported disappointing fourth-quarter results with earnings per share of 6 cents per share. On average, analysts estimated a profit of 2 cents per share. See also: How to Buy GameStop (GME) Stock On Thursday, the company’s shares extended losses for the sixth straight trading day as a stock lock-up period expired, freeing up 80% or 1.8 billion shares for sale. Since declaring results, Palantir stock has fallen over 16%. Why It Matters: The selloff has attracted the attention of the online crowd who are further enthused by the loose association with Tesla Inc (NASDAQ: TSLA) CEO Elon Musk — who was a former business partner of Thiel, the Wall Street Journal reported. Previously, WallStreetBets targeted heavily shorted stocks such as GameStop and AMC Entertainment Holdings Inc (NYSE: AMC). Unlike GameStop or AMC, Palantir is not in the crosshairs of short-sellers. The GameStop short squeeze drama has now moved to Congress where on Thursday the House Financial Services Committee held a special hearing on the matter. See Also: GameStop Fame’s Roaring Kitty To Congress: ‘In Short, I Like The Stock’ Price Action: Palantir shares closed nearly 7% lower at $25.17 on Thursday and rose 4.85% to $26.39 in the after-hours session. Photo by Tech.Co on Flickr See more from BenzingaClick here for options trades from BenzingaMusk’s Dogecoin Army Recruit Gene Simmons Turns Cardano Adherent — Here’s WhyDelay Pfizer COVID-19 Vaccine’s 2nd Inoculation To Boost Supply? Here’s What Research Is Saying© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Reuters
Bitcoin and ethereum prices ‘seem high,’ says Musk
The chief executive of Tesla Inc, whose recent tweets have fueled the digital-currency rally, made the remark on Twitter while replying to a user who said that gold was better than both bitcoin and conventional cash. Musk, who earlier in the week remarked that he found the prospect of holding bitcoin adventurous for an S&P 500 company, said in a tweet: “Money is just data that allows us to avoid the inconvenience of barter …” Bitcoin, the world’s most popular cryptocurrency, hit a fresh high in Asian trading on Saturday, extending a two-month rally a day after the digital currency’s market capitalization exceeded $1 trillion.
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InvestorPlace
10 Dividend Stocks Increasing Their Payouts
There are two types of dividend stocks: those that increase their annual dividend payments year after year, often referred to as Dividend Aristocrats, and those that grow their annual dividends by double-digit percentages every year. In early January, Rob Carrick, one of Canada’s best personal finance columnists, wrote an article about dividend stocks that doubled their payouts over the past 10 years. With an assist from Tom Connolly of DividendGrowth.ca, they’ve put together a list of stocks that have delivered 10-year annualized dividend growth of 7.2%. InvestorPlace – Stock Market News, Stock Advice & Trading Tips Why 7.2%? That’s the amount of growth you’d need based on the Rule of 72 — 72 divided by 7.2% equals 10– the number of years growth required to double a company’s dividend payout. Now the names on the list, while excellent businesses, are mostly traded exclusively on the Toronto Stock Exchange. Thus, some of them are only available over-the-counter, through a broker that has access to the TSX, or not at all. Of the 15, eight trade on a U.S. exchange. I’d check them out. Masco (NYSE:MAS) Rollins (NYSE:ROL) Moelis & Company (NYSE:MC) Tractor Supply (NASDAQ:TSCO) Victory Capital (NASDAQ:VCTR) GlaxoSmithKline (NYSE:GSK) T. Rowe Price (NASDAQ:TROW) S&P Global (NYSE:SPGI) Open Text (NASDAQ:OTEX) FirstService (NASDAQ:FSV) 7 Overvalued Stocks Investors Just Don’t Get Tired Of In the meantime, here are 10 dividend stocks that are likely to do the same. Dividend Stocks to Buy: Masco (MAS) Source: Africa Studio / Shutterstock.com Business has been good for the global leader in home improvement and building products whose brands include Behr Paint, Delta faucets, and Endless Pools. On Feb. 9, the Michigan-based company announced that it was increasing its annual dividend by 68% from 56 cents to 94 cents, starting with the Q2 2021 payment. Also, the company announced a new $2 billion share repurchase program effective immediately. “The anticipated dividend increase we’ve announced today, along with the new $2B share repurchase authorization, underscores our strong financial position and the Board’s confidence in our future,” stated Chief Executive Officer Keith Allman. In recent years, Masco has ridden the home improvement boom to deliver a five-year annualized total return of 17.3% through Feb. 12. With a trailing 12-month (TTM) free cash flow (FCF) of $840 million, it has an FCF yield of 5.3% based on an enterprise value of $15.8 billion. Rollins (ROL) Source: Shutterstock I’ve always liked Rollins, one of the world’s largest providers of pest control services. In May 2016, I included ROL in a group of 10 top stocks that ought to be in every retirement portfolio. It’s up 224% since then, and that doesn’t even include the dividends. “Over the long haul, it hasn’t disappointed delivering 18 consecutive years of earnings growth and 14 consecutive years of dividend increases averaging 12%,” I wrote on May 18, 2016. In fiscal 2020, Rollins increased sales and earnings by 7.2% and 13.3%, respectively. Accounting for the 3-for-2 split on Dec. 10, 2020, Rollins’ board announced on Jan. 26 that it would increase its quarterly dividend by 50% over Q4 2020 to 8 cents starting with its February 2021 payment. The company paid out $161 million in dividends in 2020, up from $154 million in 2019. The company repurchases very little of its stock. Between 2017 and 2019, it repurchased just $28 million of its shares, opting to use most of its free cash for dividends and acquisitions. Rollins has a trailing 12-month free cash flow (FCF) of $380 million. That works out to an FCF yield of 2% based on an enterprise value of $18.8 billion. It’s not cheap at current prices, but it will deliver an above-average total return [dividend income plus capital appreciation] over time. 7 Blue-Chip Stocks That Aren’t a Gamble Definitely buy this one on the dips. Moelis & Company (MC) Source: PopTika/ShutterStock.com Moelis & Company is an independent investment bank based in New York City that went public in April 2014 at $25 a share. If you bought some of its initial public offering (IPO) and still hold it today, you’re sitting on a 119% return. There is no question the investment bank has had its ups and downs. In June 2018, it flirted with $70 before falling gradually to its 52-week low of $22.11 during the March 2020 correction. On Feb. 10, 2021, the company reported record Q4 2020 revenues of $422 million, up 89% from a year earlier. On the bottom line, its adjusted net income was $146 million, up considerably from $26 million in Q4 2019. In 2020, the company paid out dividends and executed share repurchases totaling almost $275 million. It included a $2 a share special dividend paid out in December while also increasing the regular quarterly dividend by 44% from the previous quarter and 8% from pre-Covid-19 levels. Tractor Supply (TSCO) Source: James R. Martin/Shutterstock.com Tractor Supply is one of my all-time favorite companies, retail or otherwise. Its business model servicing the rural lifestyle makes abundant sense. In 2001, Tractor Supply made a transformative acquisition, acquiring bankrupt Michigan-based Quality Stores, a competitor with 85 stores at the time. It had 323 stores. Today, it has almost 2,000. It hasn’t been as lucky with another acquisition it made. In 2016, it acquired Petsense, a retailer of pet supplies, for $116 million. Petsense had 136 stores at the time. In Q4 2020, the company had non-cash pre-tax impairment charges of $74.1 million related to its Petsense operations. As a result of the charge, Tractor Supply’s operating income in the fourth quarter was $184.5 million, 3.1% lower than a year earlier. On the plus side, fourth-quarter sales were 31.3% higher over Q4 2019. The board announced on Jan. 28 that it would increase its quarterly dividend by 30% to 52 cents a share. 7 Stocks That Are Ready for a Retail Rebound Tractor Supply is an outstanding retail stock to own for the long haul. Victory Capital (VCTR) Source: kan_chana/ShutterStock.com I thought Victory Capital was the only firm on my list of 10 dividend stocks that I’m unfamiliar with. Then it dawned on me that it’s the company behind VictoryShares and ETFs such as the VictoryShares Nasdaq Next 50 ETF (NASDAQ:QQQN). However, if the San Antonio-based asset management firm keeps delivering quarterly results as it did in Q4 2020, I’ll have to get a lot more acquainted with it in a real hurry. The company finished fiscal 2020 with $136.4 billion in assets under management (AUM), 33% higher than a year earlier. A part of the increase was due to its 2019 acquisition of USAA Asset Management. On the bottom line, Victory generated record adjusted net income of $285.5 million in 2020, 48% higher than a year earlier. As part of the Feb. 10 press release of its fourth-quarter earnings, Victory Capital’s board announced a 29% increase in its quarterly dividend to 9 cents a share. It is the company’s third increase in a year. GlaxoSmithKline (GSK) Source: Willy Barton / Shutterstock.com Anyone who suffers from back or joint pain is likely familiar with Voltaren, one of GlaxoSmithKline’s many products made by its consumer healthcare products division, merged with Pfizer’s (NYSE:PFE) consumer healthcare business in August 2019. It plans to separate the joint-venture into its own separate company. In addition to Voltaren, it makes Polident, Otrivin, Advil, Tums, and Centrum, and many others. Once GSK separates its consumer healthcare products business, it will focus on pharmaceuticals and vaccines. On Feb. 3, GSK reported its full-year results. They included a 3% sales increase year-over-year of 34.1 billion euros ($41.3 billion) and an FCF of 5.4 billion euros ($6.6 billion), 7% higher than in 2019. As for the dividend, it’s a bit of a mixed bag. Although the company increased its quarterly payment by 15% from $0.1746 a share to $0.2008 starting with the December 2020 payment, it also said that it wouldn’t increase the total dividend payments in 2021 from what it paid out in 2020. These 7 Semiconductor Stocks Are Actually Winning From the Chip Shortage I’ve put it on the list of dividend stocks because it should provide investors with a much better entry point to buy its stock. It’s a definite value play at this point. T. Rowe Price (TROW) Source: Pavel Kapysh / Shutterstock.com One of the four financial services companies on my list of dividend stocks, the Baltimore-based company announced on Feb. 10 that it was raising its quarterly dividend by 20% to $1.08 per share, the 35th consecutive year it has done so. That makes it a Dividend Aristocrat. The $4.32 annual payout yields a reasonable 2.7%. On Jan. 28, T. Rowe Price reported Q4 2020 revenues of $1.73 billion, 18% higher than a year earlier, while adjusted earnings per share were 42% up over a year earlier. It was a good year for the investment manager in terms of asset gathering. In 2020, it had net client inflows of $5.6 billion, finishing the year with $1.47 trillion in assets under management. Its average assets under management in 2020 increased by 12.5%. The company finished 2020 debt-free with $6.2 billion in cash and investments in T.Rowe Price products. That’s up from $5.6 billion a year earlier. As long-term investments go, income investors ought to like T. Rowe Price. S&P Global (SPGI) Source: Shutterstock This isn’t the first time I’ve picked S&P Global as a stock to buy because of its increasing dividend. In April 2020, I picked SPGI stock along with nine other S&P 500 dividend stocks. Since then, it’s up 26%, a respectable, if not spectacular, return over 10 months. On Jan. 27, it announced that it was increasing its quarterly dividend by 15% to 77 cents from 67 cents. S&P Global has paid a dividend each year since 1937 and increased its annual dividend for 48 consecutive years. In 2020, SPGI returned $1.8 billion to shareholders, including $645 million for dividends and $1.16 billion in share repurchases, no mean feat during a pandemic. “Increasing the dividend demonstrates our confidence and optimism in the continued strength of our cash flow generation and financial position,” said Douglas L. Peterson, CEO of S&P Global. “Returning cash to shareholders remains a cornerstone of our shareholder value proposition.” 8 Electric Vehicle Stocks That Are More Than Just a Fad It has a very attractive FCF yield of 4.2% based on TTM FCF of $3.49 billion and an $82.34 billion enterprise value. Open Text (OTEX) Source: Shutterstock One of two Canadian companies that I’ve chosen for this article, Open Text is a cloud-based software company whose products and solutions help manage and utilize their information. The last year has not been kind to shareholders. Open Text stock’s generated a 52-week total return of just 2.5%, well below its software application peers, who gained 55.8% over the past year. However, its latest earnings report delivered hope. Excluding currency, the company reported recurring revenue of $674 million in Q2 2021, 19.5% higher than a year earlier. At the same time, its free cash flow was 46.5% higher to $275 million. Its free cash flow on a TTM basis is $1.07 billion for an FCF yield of 6.9% based on an enterprise value of $15.5 billion. That FCF yield’s approaching value territory. On Feb. 4, Open Text announced its March 2021 dividend would be $0.2008 a share, 15% higher than a year earlier. FirstService (FSV) Source: Shutterstock FirstService is the second of my Canadian picks of dividend stocks. The provider of residential property management and property services has been on my favorites list for some time. In December, I put FSV on my list of Canadian stocks to own that make money from America. On Feb. 4, FirstService announced it was increasing its quarterly dividend by 10% from $0.15 to $0.165. The annual payment of 66 cents yields a meager 0.4%. However, you won’t be sorry for owning its stock. It’s got a five-year annualized total return of 32.8%, almost three times the return of the U.S. markets as a whole. The dividend increase is FirstService’s fifth consecutive year upping it by 10% or more. Highlights of fiscal 2020 include a 15% increase in revenues to $2.77 billion, while its adjusted earnings per share were up 15% year-over-year to $3.46. “We capped off the year with a very strong fourth quarter, largely driven by organic growth,” said CEO Scott Patterson. “We are proud of our performance throughout 2020, demonstrating strength and stability in the face of the pandemic, and we look forward to capitalizing on our growth opportunities as the environment improves.” This could be the best fly-under-the-radar dividend stock available. On the date of publication, Will Ashworth did not have (either directly or indirectly) any positions in the securities mentioned in this article. Will Ashworth has written about investments full-time since 2008. Publications where he’s appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. He particularly enjoys creating model portfolios that stand the test of time. He lives in Halifax, Nova Scotia. At the time of this writing Will Ashworth did not hold a position in any of the aforementioned securities. More From InvestorPlace Why Everyone Is Investing in 5G All WRONG Top Stock Picker Reveals His Next Potential Winner It doesn’t matter if you have $500 in savings or $5 million. Do this now. #1 Play to Profit from Biden’s Presidency The post 10 Dividend Stocks Increasing Their Payouts appeared first on InvestorPlace.
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Benzinga
Coca-Cola Raises Quarterly Dividend, Moves To Acquire BodyArmor: What You Need To Know
Coca-Cola Co’s (NYSE: KO)’s dividend got a little sweeter Thursday. Coca-Cola approved the company’s 59th consecutive annual dividend increase, raising the quarterly dividend 2.4% from 41 cents to 42 cents per common share. The dividend increase is applicable for outstanding shares of Coca-Cola. A report Friday from BevNet revealed that Coke might move forward in acquiring popular sports drink BodyArmor. “We can confirm that The Coca-Cola Company has filed a pre-acquisition notification with the Federal Trade Commission (FTC) relating to its intent to acquire a controlling interest in BodyArmor,” Coke told BevNET. “In 2018, Coca-Cola became a shareholder in BodyArmor, in a deal that was structured to create value for both companies while also defining a path to ownership in the future. Until closing, both companies will continue to operate independently in accordance with their existing agreement.” Why It Matters: The Coke brand is far more than soda pop in 2021, what with the family of drink choices consisting of health-conscious, nutritious options like Smart Water, Honest Teas and fairlife dairy products. It can be said BodyArmor is a direct competitor to Coke’s popular electrolyte sports drink Powerade. The acquisition would allow Coke to further expand its market share in the sports drink space. KO Price Action: Shares of Coca-Cola were trading down 0.27% at $50.60 at last check Friday. Coke has a 52-week high of $60 and a 52-week low of $36.27. See Also: How To Buy Coca-Cola Stock. See more from BenzingaClick here for options trades from BenzingaThinking About Buying Stock In Roku, Disney, Gevo Or Palantir?FuelCell, Plug Power Hammered As Texas Governor Blames Renewables For Electricity Crisis© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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InvestorPlace
5 Renewable Energy Stocks Whose Time Has Come
Although several sectors got hammered pretty badly last year, certain areas did exceptionally well. Renewable energy stocks, for instance, had an amazing year despite the novel coronavirus pandemic. In fact, the pandemic has acted as a tailwind for renewable energy stocks. Governments the world over are placing a premium on renewable energy. That’s primarily the reason you see EV stocks do so well. However, many investors may be skeptical that this is a false dawn. Renewable energy stocks are still considered a chic area of investing. One that does not necessarily give the impression of stability and long-term growth.InvestorPlace – Stock Market News, Stock Advice & Trading Tips 7 Overvalued Stocks Investors Just Don’t Get Tired Of But don’t let those thoughts deter you from investing in this space. There are some great names in this industry that are doing fantastically well and will continue to do so for the foreseeable future. Let’s look at five such names. First Solar (NASDAQ:FSLR) Brookfield Renewable Partners (NYSE:BEP) NextEra Energy Partners (NYSE:NEP) Ameresco (NYSE:AMRC) Canadian Solar (NASDAQ:CSIQ) Renewable Energy Stocks: First Solar (FSLR) Source: IgorGolovniov / Shutterstock.com Solar power is all the rage these days. Coal power plants are closing rapidly as solar energy is becoming cheaper with each passing day. It’s no surprise why First Solar is up 18.3% in the last three months alone. The American solar panel manufacturer builds PV solar modules with thin-film semiconductor technology. It claims to meet solar needs at every stage of the product lifestyle. Everything from financing to end-of-life panel recycling. The main reason why I am excited about this one is its recent performance. In the past three quarters, the company beat analyst expectations every time. We don’t have the fourth-quarter numbers, but we can be bullish, considering our data. In Q3, the solar panel manufacturer exceeded expectations. EPS came in at $1.45 per share, beating analyst estimates of 61 cents per share, a 137.7% beat per Refinitiv. The $1.45 per share earned on $928 million in revenue also handily beat the year-ago figures of 29 cents per share, on $546.8 million in revenue. If you survey the analyst sentiment, then it’s a bit bearish at this point. Out of 18 analysts covering the stock, only five have a bullish rating. According to data gathered by Refinitiv, the consensus 12-month price target stands at $88.90 per share, a 10% downside from the current price. I am not surprised. FSLR stock has a one-year return of 86.8%. Understandably, analysts want it to cool down. But the fact remains, it’s an excellent pick in the solar space. Brookfield Renewable Partners (BEP) Source: IgorGolovniov / Shutterstock.com Let’s move to a diversified conglomerate from more of a pureplay. Brookfield Renewable Partners is a subsidiary of financial juggernaut Brookfield Asset Management (NYSE:BAM), which owns a 60% stake in the company. BEP has a roughly 20,000 megawatt portfolio and more than 5,300 generating facilities in North America, South America, Europe, and Asia. It also has a 23-gigawatt development pipeline in place. The company derives the bulk of its revenue from hydro and wind energy. However, it’s planning for most of its revenues to come from solar in the future. As part of that initiative, it recently paid $810 million to purchase Exelon’s solar business. 7 Blue-Chip Stocks That Aren’t a Gamble The one negative that I will highlight is valuation. BEP stock trades at a high 103.8 times forward price-to-earnings. Granted, I understand that a big institutional name comes with stability, and you have to pay the price for it. Nonetheless, paying triple digits does seem awfully high. I like the stock, but I would wait for a better entry point. Renewable Energy Stocks: NextEra Energy Partners (NEP) Source: Shutterstock Another name with significant institutional support, NextEra Energy Partners, is structured as a limited partnership. In essence its a subsidiary of NextEra Energy (NYSE:NEE). The company operates a plethora of clean energy projects in solar, wind, and natural gas. Renewable energy produces the most revenue for the company. Much like the other stocks on this list, NEP is on absolute fire at the moment, outperforming the S&P 500 by 25.6% and its sector by 51.6% in the past year. Meanwhile, its sector underperformed the market by 25.9% during the past year. That’s what happens if you perform well in a challenging market. In the last 12 quarters, the company has exceeded analyst expectations a total of seven times. While that is impressive on its own, the bigger deal is the positive earnings surprises in the last three quarters on the trot. The company reported EPS of $0.85 last earnings season. Consensus estimates compiled by Refinitiv averaged $0.301 per share, translating to a beat of 182.4%. Out of 19 analysts covering the stock, 13 have either a “strong buy” or “buy” rating on NEP stock. Ameresco (AMRC) Source: Shutterstock Ameresco is a green energy solutions provider that offers its services to public and private companies. It recently inked a $173-million energy savings performance contract to upgrade the Norfolk Naval Shipyard in Virginia. According to the company, the new system will decrease electricity imported from the grid by 68%. These kinds of large-scale contracts are why I like Ameresco over some of the energy stocks out there. However, there is a flip side to the argument. You have to understand that when you invest in this one, you buy into a company that does a lot of its work with the public sector. Hence, it can get stuck in the bureaucratic quagmire. 7 Stocks That Elon Musk Loves — And That You Should Too Other than this, the company is a rock-solid performer. In the last 12 quarters, Ameresco has reported 11 positive earnings surprises. Looking ahead, analysts expect revenues to increase by 13.5% and 24.5% in fiscal 2020 and 2021, respectively. Out of seven analysts covering AMRC stock, six have either a “strong buy” or “buy” rating on it. Canadian Solar (CSIQ) Source: Shutter B Photo / Shutterstock.com One of the most vertically integrated solar companies globally, Canadian Solar is a great performer with a global presence. That’s one of the main reasons it has done so well in the past year. In the last 12 quarters, CSIQ reported positive earnings surprises eleven times. For the last six quarters, the company has a perfect record, with the third quarter EPS of $0.150 per share beating estimates by 412.5%. Due to its business model, the company can reduce costs and improve margins. With solar positioned to become one of the preeminent sources of power in the future, Canadian Solar is in a prime position to benefit. Geographic diversification and a vertically integrated structure will ensure the Candian energy company grows at a brisk pace. Unlike some of the other members of this list, CSIQ is trading at reasonable multiples. Shares are at 36.7 times forward P/E despite rising 51.1% in the last three months. On the date of publication, Faizan Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. Faizan Farooque is a contributing author for InvestorPlace.com and numerous other financial sites. Faizan has several years of experience analyzing the stock market and was a former data journalist at S&P Global Market Intelligence. His passion is to help the average investor make more informed decisions regarding their portfolio. More From InvestorPlace Why Everyone Is Investing in 5G All WRONG Top Stock Picker Reveals His Next Potential Winner It doesn’t matter if you have $500 in savings or $5 million. Do this now. #1 Play to Profit from Biden’s Presidency The post 5 Renewable Energy Stocks Whose Time Has Come appeared first on InvestorPlace.
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Yahoo Finance
Morgan Stanley sees ‘GM SPACtopus’ taking on EV market
Morgan Stanley mobility analyst Adam Jonas is pretty adept at keeping his finger on the pulse of what’s hot with the investment community – and right now it’s all about SPACs (Special Purpose Acquisition Companies) and EVs (Electric Vehicles).
