Itron (ITRI) DER Optimizer Solution Adopted by Duke Energy

Itron’s ITRI IntelliSOURCE-powered DER Optimizer solution is being implemented by Florida-based Duke Energy to operate a new managed Electronic Vehicles (or “EV”) charging program.

Duke Energy will deploy the DER Optimizer solution in the first quarter of 2022 and use it for the next four years. Duke Energy will be able to gather permitted EV charging session data (almost real time) and obtain vital insights into residential EV charging behavior over the next four years by utilizing the DER Optimizer solution.

Itron further stated that the program would identify and offer credits for EV owners to charge their vehicles during off-peak hours. Itron’s DER Optimizer solution will help Duke Energy gauge the dynamics of supply and demand of EV-charging residential consumers in Florida and ascertain good practices for the residential EV Off Peak program, added the company.

Itron is also merging with the Rolling Energy Resources’ EV telematics platform. The platform can connect to cars through their built-in Application Programming Interfaces or APIs, thereby eliminating the need for additional hardware and charging stations. This results in easier onboarding of clients and their cars into the EV program, noted Itron.

Itron, Inc. Price and Consensus

Itron, Inc. price-consensus-chart | Itron, Inc. Quote

Opportunities Galore in the Utility Sector For Itron

Itron is one of the leading suppliers of a wide selection 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 is working toward expanding its worldwide presence, taking leverage of reliable and efficient solutions in the utility sector. Itron announced that it would deploy its Temetra mobile meter data collection system and its fixed network solution to upgrade Consolidated Utility District’s (or “CUD”) advanced metering infrastructure and provide other enhanced capabilities, including leak detection. The project will commence in the first quarter of 2022 and is expected to become operational this summer.

Temetra is also being implemented by Ireland’s electricity distribution network operator — Electricity Supply Board Networks or ESB Networks. Itron’s Temetra will help ESB Networks to enhance meter data management by reading more than 1.75 million meters across its service territory and boosting operational optimization.

However, the company is facing component shortages that are offsetting robust customer demand. Sluggishness in the Device Solutions and Networked Solutions segment was a major concern. In the last reported quarter, revenues of $485.6 million declined 7.5% year over year.

Itron currently has a Zacks Rank #3 (Hold). Shares of ITRI have lost 38.4% against the industry’s rise of 2.8% in the past year.

Stocks to Consider

Some better-ranked stocks worth considering from the broader technology sector are Broadcom AVGO, Apple AAPL and Texas Instruments TXN. Texas Instruments sports a Zacks Rank #1 (Strong Buy), while Broadcom and Apple carry a Zacks Rank of 2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Broadcom’s fiscal 2022 earnings is pegged at $35.49 per share. The long-term earnings growth rate of AVGO is pegged at 14.5%.

Broadcom’s earnings beat the Zacks Consensus Estimate in all the preceding four quarters, the average being 1.9%. Shares of AVGO have increased 33.7% in the past year.

The Zacks Consensus Estimate for Apple’s fiscal 2022 earnings is pegged at $6.16 per share. The long-term earnings growth rate is pegged at 12.5%.

Apple’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average being 20.3%. Shares of AAPL have rallied 40.5% in the past year.

The Zacks Consensus Estimate for Texas Instruments’ 2022 earnings is pegged at $9.09 per share. The long-term earnings growth rate is 9.3%.

Texas Instruments’ earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average being 12.4%. Shares of TXN are up 1.9% in the past year.

Investor Alert: Legal Marijuana Looking for big gains?

Now is the time to get in on a young industry primed to skyrocket from $13.5 billion in 2021 to an expected $70.6 billion by 2028.

After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could kick start an even greater bonanza for investors. Zacks Investment Research has recently closed pot stocks that have shot up as high as +147.0%.

You’re invited to immediately check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.