Top Energy Stocks
Energy stocks are broadly higher with the NYSE Energy Sector
Index rising 1.1% and the S&P Energy Index climbing over 1.6%
this afternoon. Crude oil for December is up 74 cents at $86.39 per
barrel. December natural gas is up a penny at $3.57 per 1 million
In company news, EnerNOC (
) shares have hit new year highs today after posting non-GAAP Q3
earnings that beat expectations by $0.46 a share.
Adjusted earnings were $2.40 a share, excluding $0.19 in
stock-based compensation and amoritization expenses, up from $1.98
in the year-ago quarter. Revenue climbed 5.2% to $177.9 million,
also topping estimates.
ENOC now expects FY12 revenues in a range of $270 million to
$280 million, up $10 million from its prior guidance range and
in-line with analyst estimates. It also trimmed its projected GAAP
net loss this year to $0.80 to $0.95 a share from its prior
guidance of $1.00 to $1.40 a share. Adjusted EBITDA is now seen
coming in at $15 million to $20 million.
The company also raised its FY13 guidance for adjusted EBITDA,
GAAP earning per share and revenue.
In other sector news,
(+) CVI, (+4.9%) Posts $3.00 a share Q3 profit, $0.38 better
than expectations. Revenues climb 78.2% to $2.41 billion, beating
analyst estimates by $130 million.
(+) MIC, (+0.7%, nearer year highs) Said operations affected by
Hurricane Sandy are now coming back on line. Power to its bulk
storage facility in Bayonne, N.J., has been restored. All three of
its airport fuel facilities, along with its heliport facility, in
the New York City region have reopened.
(-) NRP, (-0.8%) Coal miner reports Q3 net earnings of $0.48 a
share, topping Street estimates by $0.06. Revenue slips 8.7% to
$94.2 million. The Street was at $85.83 million.
(-) AREX, (-2.5%, but well above day lows) Q3 earnings of $0.01
a share miss by $0.04. Revenue rises 18.2% to $33.04 million,
trailing analyst expectations by $80 million. Raised 2012 capital
budget by $35 million to $295 million.