Macquarie ETF Trust Macquarie Energy Transition ETF (ARCA: PWER)

Dernières nouvelles pour Macquarie ETF Trust Macquarie Energy Transition ETF (ARCA:PWER)

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The Macquarie Energy Transition ETF seeks to achieve its investment objective by investing, under normal circumstances, at least 80 percent of its net assets, plus the amount of any borrowings for investment purposes, in a diversified portfolio of securities in the energy, materials, industrial, renewable energy, and utilities sectors that meet the Funds investment criteria noted below. The investment criteria includes companies that meet the Managers definition of transition enablers or responsible producers, as further described below. The Funds strategy seeks to realize inefficiencies in the global transition to cleaner, lower carbon energy in a world of increasing energy demand and uncertain energy supply. The Fund may invest in companies of any size and located across the world; however, the Fund generally will focus its investments on companies domiciled in North America.

First Solar Inc

Sunrun Inc

Cf Industries Holdings Inc.

Shell Plc – Adr

Hudbay Minerals Inc

Schlumberger Nv - Common

Baker Hughes A Ge Co. Class A

Alcoa Corp

Valero Energy Corp.

Mp Materials Corp

Chesapeake Energy Corp

Steel Dynamics Inc

HF Sinclair Corp

Macquarie Energy Transition ETF

Power-One, Inc.

CF Industries Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CF#NYSE">CF</a>) on Tuesday inked a <a target="_blank" href="https://www.benzinga.com/pressreleases/25/04/b44694793/cf-industries-announces-joint-venture-with-jera-co-inc-and-mitsui-co-inc-for-production-and-offtak" rel="noreferrer noopener">joint venture</a> (JV) with Japanese energy company JERA Co., Inc. and global trading giant Mitsui &amp; Co., Inc.
After JV formation, CF Industries will hold 40% ownership, JERA 35% ownership, and Mitsui 25% ownership in the company.
The joint venture will build an autothermal reforming (ATR) ammonia production facility at CF Industries' Blue Point Complex in Louisiana, including a CO₂ dehydration and compression unit to prepare captured emissions for transport and sequestration.
The project is estimated to cost around $4 billion, with funding shared among the partners based on their ownership stakes.
The facility is projected to have a nameplate capacity of approximately 1.4 million metric tons per year and capture over 95% of CO₂ emissions.
Pre-construction and engineering at CF Industries' Blue Point Complex in Ascension Parish, Louisiana, are expected to begin in 2025, construction in 2026, and production by 2029.
1PointFive, a CCUS company and Occidental subsidiary, plans to transport and store about 2.3 million metric tons of CO₂ per year at its Pelican Sequestration Hub in Louisiana.
CF Industries also plans to operate and maintain the facility and invest $550 million in developing supporting infrastructure, including storage and loading systems.
Yukio Kani, JERA Global CEO and Chair, said,&nbsp;"This Blue Point project is a testament to the strong alliances we are building to advance low-carbon solutions. The U.S. remains a cornerstone market for JERA, and this initiative underscores our long-term commitment to expanding our presence with diversified and sustainable energy projects."
Mr. Kenichi Hori, President and Chief Executive Officer of Mitsui &amp; Co., Ltd, added, "Mitsui will establish a low-carbon ammonia value-chain worldwide by leveraging its presence in the US gas value chain from natural gas to chemicals including this project, and our strength and track record in the global trading of ammonia."
As of December 2024, CF's cash and <a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/b43831362/cf-industries-holdings-inc-reports-full-year-2024-net-earnings-of-1-22-billion-adjusted-ebitda-of-" rel="noreferrer noopener">cash equivalent stood at $1.61 billion</a>.
Investors can gain exposure to the stock via&nbsp;the Macquarie ETF Trust Macquarie Energy Transition ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PWER#NYSE">PWER</a>) and the First Trust Materials AlphaDEX Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXZ#NYSE">FXZ</a>).
Price Action: CF shares are up 4.05% at $71.25 at the last check Wednesday.
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</ul>
Photo via Shutterstock

Equities

Large Cap

News

Contracts

Movers

PWER

CF Industries, JERA, Mitsui Form $4 Billion JV To Build Low-Carbon Ammonia Plant In Louisiana

Generac Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GNRC#NYSE">GNRC</a>) shares are trading higher on Monday. Bank of America Securities analyst Dimple Gosai reinstated the company with a Buy rating <a href="https://www.benzinga.com/quote/gnrc/analyst-ratings" target="_blank" rel="noreferrer noopener">and a price forecast of $182</a>.
The backup power manufacturer is well-positioned to capitalize on worsening weather disasters and declining grid reliability, Gosai says.
With billion-dollar weather events now averaging 23 per year (nearly double the rate of the 2010s), key markets like Texas, Florida, and California remain underpenetrated, representing about 25% of the company&#8217;s total addressable market, adds the analyst.
Read: <a href="https://www.benzinga.com/general/travel/25/01/42826404/winter-storm-blair-blasts-millions-of-americans-triggers-flight-delays-power-outages-school-closures" target="_blank" rel="noreferrer noopener">Winter Storm Blair Blasts Millions Of Americans, Triggers Flight Delays, Power Outages, School Closures</a>
In particular, the analyst sees the company&#8217;s smart home energy tech, led by Ecobee and storage, as a growth driver.
The analyst expects the over-65 population to reach 82 million by 2030 (vs. 58 million in 2022). This increases the need for reliable power among retirees who depend on medical devices and refrigerated medications.
While Baby Boomers continue to be the primary buyers of home standby generators, demand is growing among Gen X and older Millennials, who value backup power for home security, extreme weather protection, and remote work, adds the analyst.
Additionally, Gosai says that the steady population growth in power outage-prone states like Texas and Florida (1.6%-1.7% annually) highlights the rising demand for resilient energy solutions.
Investors can gain exposure to the stock via AdvisorShares Trust AdvisorShares HVAC and Industrials ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HVAC#NYSE">HVAC</a>) and Macquarie ETF Trust Macquarie Energy Transition ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PWER#NYSE">PWER</a>).
Price Action: GNRC shares are up 4.15% at $136.97 at the last check Monday.
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Image: Shutterstock

Mid Cap

GNRC

HVAC

Generac Poised To Benefit From Blackouts, Declining Grid Reliability: BofA Analyst

Shell PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>), along with CNOOC Petrochemicals Investment Ltd., disclosed a final investment decision for the expansion of the petrochemical complex at <a target="_blank" href="http://shell.com/news-and-insights/newsroom/news-and-media-releases/2025/cspc-a-shell-cnooc-jv-invests-in-petrochemical-complex-expansion-in-china.html" rel="noreferrer noopener">Daya </a>Bay, Huizhou, in southern China.
The project is part of the joint venture, CNOOC and Shell Petrochemicals Company Limited (CSPC), a partnership between Shell Nanhai B.V. and CNOOC Petrochemicals.
The expansion will add a third ethylene cracker at the Daya Bay complex, with an annual capacity of 1.6 million tonnes of ethylene, along with downstream units producing chemicals like linear alpha olefins.
Additionally, a new facility will manufacture 320,000 tonnes of high-performance specialty chemicals annually, including polycarbonates and carbonate solvents.
The new facilities are designed to cater to the growing domestic demand in China, producing chemicals used across sectors such as agriculture, industrial, construction, healthcare, and consumer goods.
This investment will enhance CSPC&#8217;s competitiveness by extending its value chains, integrating with the existing site, and fostering innovation to meet the increasing demand in the rapidly expanding Chinese market.
Last week, Shell&#8217;s subsidiary,&nbsp;Shell Offshore Inc., started production at the Whale floating production <a target="_blank" href="https://www.benzinga.com/news/large-cap/25/01/42916217/whats-going-on-with-shell-shares-on-friday" rel="noreferrer noopener">facility&nbsp;in the Gulf of Mexico</a>.
Investors can gain exposure to the stock via&nbsp;VanEck Natural Resources ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAP#NYSE">HAP</a>) and&nbsp;Macquarie ETF Trust Macquarie Energy Transition ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PWER#NYSE">PWER</a>).
Price Action: SHEL shares are up 0.52% at $66.25 at the last check Wednesday.
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</ul>
Photo courtesy: Shutterstock.

Market Vectors RVE Hard Assets Producers ETF

SHEL

Shell & CNOOC Greenlight Major Petrochemical Expansion In Southern China

Equinor ASA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQNR#NYSE">EQNR</a>) shares are gaining on Thursday. The energy company has secured over $3 billion in project financing for its <a target="_blank" href="https://www.equinor.com/news/20250102-securing-financial-close-empire-wind-1" rel="noreferrer noopener">Empire Wind 1 offshore wind project</a>.
Financial close was achieved at the end of December 2024. The Empire Wind 1 project, expected to power 500,000 New York homes, will commence commercial operations in 2027. The project, spanning 80,000 acres and located 15-30 miles southeast of Long Island, will become the first offshore wind project connected to the New York City grid.
The total capital investment for the project, including South Brooklyn Marine Terminal redevelopment costs, is estimated at $5 billion.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/contracts/24/12/42344319/equinor-and-shell-unite-forces-to-dominate-uk-north-sea-oil-and-gas" rel="noreferrer noopener">Equinor and Shell Unite Forces to Dominate UK North Sea Oil and Gas</a>
Equinor, which acquired the Empire Wind lease in 2017, plans to bring in a new partner to farm down its stake in the project.
It is being developed in two phases, Empire Wind 1, with a capacity of 810 MW, and Empire Wind 2, with a potential capacity of more than 1,200 MW.
In April 2024, Equinor took full ownership of the Empire Wind lease and projects, and BP took full ownership of the Beacon Wind lease and projects through a cash-neutral swap transaction.
In an unrelated development, Equinor recently completed transactions to exit its upstream businesses in Azerbaijan and Nigeria, with an estimated total consideration of up to $2&nbsp;billion which is expected to positively impact <a target="_blank" href="https://www.benzinga.com/24/12/42392611/equinor-boosts-cash-flow-with-2-billion-exit-from-azerbaijan-and-nigeria" rel="noreferrer noopener">cash flow for the fourth quarter of 2024</a>.
Also, the company discovered a new oil field 17 kilometers west of the Troll field in the&nbsp;North sea, with estimated reserves ranging between <a target="_blank" href="https://www.benzinga.com/24/12/42535655/north-sea-surprise-equinor-uncovers-new-reserves-near-troll" rel="noreferrer noopener">2 and 12 million barrels of oil equivalent</a>.
Price Action: EQNR shares are trading higher by 3.10% at $24.43 on last check Thursday.

EQNR

ICOW

Equinor Powers Up Empire Wind 1 Project With Financing Package: Details

Alcoa Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>) shares are trading lower on Thursday after rebounding from Wednesday&#8217;s increase.
Yesterday, the company reported third-quarter sales of $2.904 billion, missing the consensus of $2.967 billion and adjusted EPS of $0.57, exceeding <a href="https://www.benzinga.com//node/41376546" target="_blank" rel="noreferrer noopener">the consensus of $0.28</a>.
JPMorgan analyst Bill Peterson raised the price target to $39 from $36 while <a href="https://www.benzinga.com/quote/AA/analyst-ratings" target="_blank" rel="noreferrer noopener">maintaining a Neutral rating</a>.
The analyst wrote that with low-hanging fruit already secured, future progress depends on savings from Kwinana's curtailment, the ramp-up at Warrick/Alumar and potential benefits from the Inflation Reduction Act (IRA).
The analyst anticipated additional support from lagged alumina pricing for the fourth quarter before it normalizes later next year.
The analyst said he is also eager for updates on the proposed San Ciprian resolution, which seemed to hinge on government and union cooperation before funding runs out in the coming months.
Also Read: <a target="_blank" href="https://www.benzinga.com//node/41387068" rel="noreferrer noopener">Alcoa Analysts Increase Their Forecasts After Upbeat Earnings</a>
Alcoa appeared to be adopting a disciplined approach to enhance efficiencies, reduce costs and streamline its portfolio, which was expected to strengthen its capital structure and generate further EBITDA growth independent of commodity pricing, added the analyst.
The analyst did reflect a cautious near-term outlook for aluminum due to conflicting indicators from China, the potential impact of the U.S. elections and the beginning of the Federal Reserve&#8217;s rate-cutting cycle.
The analyst believed the market needs more evidence of supportive fiscal stimulus from China, improved macroeconomic activity and significant inventory draws to trigger the next sustainable increase in aluminum pricing, likely extending into 2025.
Overall, the analyst said execution remained a "show me" story, with the next catalyst likely being a decision regarding the loss-making San Ciprian complex before the end of 2024.
Investors can gain exposure to the stock via&nbsp;Macquarie ETF Trust Macquarie Energy Transition ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PWER#NYSE">PWER</a>) and&nbsp;SPDR S&amp;P Metals &amp; Mining ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XME#NYSE">XME</a>).
AA Price Action: Alcoa shares are down 3.73% at $40.50 at publication Thursday.
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Photo: Shutterstock

Price Target

Commodities

Global

Alcoa Analyst Boosts Price Target: Growth Strategy Hinges On Kwinana Savings, San Ciprian Resolution

Alcoa Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>) shares are trading higher on premarket Thursday. On Wednesday, the company reported third quarter sales of $2.904 billion, <a href="https://www.benzinga.com/pressreleases/24/10/b41368327/alcoa-corporation-reports-third-quarter-2024-results" target="_blank" rel="noreferrer noopener">missing the consensus of $2.967 billion</a>.
Alumina production dropped 4% sequentially&nbsp;to 2.44 million metric tons, mainly due to the full curtailment of the Kwinana refinery in June 2024.
Meanwhile, aluminum production rose 3% sequentially&nbsp;to 559,000 metric tons, driven by progress on the Alumar smelter restart.
In the Alumina segment, third-party shipments dropped 9% sequentially, mainly due to reduced trading activity.
In the Aluminum segment, total shipments fell 6% on a sequential basis, owing to lower trading and shipment timing.
Adjusted EBITDA, excluding special items, rose to $455 million from $325 million in the second quarter thanks to higher alumina prices and lower raw material costs.
Adjusted EPS&nbsp;of $0.57 exceeded<a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener"> the consensus of $0.28</a>.
The company ended the third quarter of 2024 with a cash balance of $1.3 billion.
Dividend: The Board of Directors declared a quarterly cash dividend of $0.10 per share, payable on November 15 to stockholders of <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41355285/alcoa-corporation-declares-quarterly-cash-dividend" rel="noreferrer noopener">record as of October 29</a>.
Outlook: Alcoa maintains its 2024 Alumina segment production forecast at 9.8 to 10 million metric tons while increasing its shipment projection to 12.9 to 13.1 million metric tons, up by 0.2 million metric tons from the prior forecast <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">due to higher trading volumes</a>.
This gap between production and shipments is attributed to the use of externally sourced alumina to meet contracts following the Kwinana refinery curtailment.
Aluminum segment production and shipment estimates remain unchanged, with production expected between 2.2 and 2.3 million metric tons, and shipments between 2.5 and 2.6 million metric tons.
In fourth quarter, Alumina Segment Adjusted EBITDA is expected to see a $30 million sequential benefit from higher shipments and lower costs, while the Aluminum Segment is anticipated to perform flat, maintaining the third quarter levels.
Alcoa President and CEO William F. Oplinger said, &#8221;We gained flexibility after closing the Alumina Limited acquisition and announced the sale of our interest<a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40873786/alcoa-pockets-1-1b-from-saudi-joint-venture-sale-details" rel="noreferrer noopener"> in the Ma&#8217;aden joint ventures</a>.&#8221;
&#8220;Positive markets and our focus on continuous improvement led to stronger results for the third quarter, while we continue to execute initiatives to further enhance our operations.&#8221;
In a separate release, Alcoa and IGNIS Equity Holding disclosed plans to move forward with a <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41367645/alcoa-and-ignis-eqt-progress-toward-strategic-agreement-to-support-future-of-alcoa-san-cipri-n-ope" rel="noreferrer noopener">strategic cooperation agreement</a>.
The partnership aims to support the ongoing operation of Alcoa&#8217;s San Ciprián facilities.
This week, the company announced a long-term agreement to supply Aluminium Bahrain B.S.C. (Alba) with up to 16.5 million tonnes of smelter-grade <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41328920/alcoa-announces-long-term-alumina-supply-contract-extension-with-aluminium-bahrain" rel="noreferrer noopener">alumina over the next ten years</a>.
Investors can gain exposure to the stock via&nbsp;Macquarie ETF Trust Macquarie Energy Transition ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PWER#NYSE">PWER</a>) and&nbsp;SPDR S&amp;P Metals &amp; Mining ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XME#NYSE">XME</a>).
Price Action: AA shares are up 5.18% at $44.25 premarket at the last check Thursday.
Photo via Shutterstock
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</ul>

Earnings

Guidance

Alcoa Beats Q3 EPS Expectations, Rides Alumina Price Surge Despite Production Hiccups

Alcoa Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>) shares are trading higher after it entered a binding agreement with Saudi Arabian Mining Company (Ma&#8217;aden) to sell its 25.1% ownership in the<a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b40868965/alcoa-announces-agreement-to-sell-its-25-1-stake-in-maaden-joint-venture-to-maaden" rel="noreferrer noopener"> </a><a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b40868965/alcoa-announces-agreement-to-sell-its-25-1-stake-in-maaden-joint-venture-to-maaden" rel="noreferrer noopener">Ma&#8217;aden Joint Venture</a><a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b40868965/alcoa-announces-agreement-to-sell-its-25-1-stake-in-maaden-joint-venture-to-maaden" rel="noreferrer noopener"> for around $1.1 billion</a>.
The transaction comprises around 86 million Ma&#8217;aden shares, valued at $950 million based on the 30-day volume-weighted average price as of September 12, 2024, and $150 million in cash.
The 2009 Saudi joint venture includes Ma&#8217;aden Bauxite and Alumina Company&nbsp;(MBAC) and Ma&#8217;aden Aluminium Company&nbsp;(MAC). Alcoa holds 25.1% of the joint venture, valued at $545 million as of June 30, 2024.
As per the deal, Alcoa will retain its Ma&#8217;aden shares for at least three years, with one-third becoming transferable after the third, fourth, and fifth anniversaries of the transaction&#8217;s closing.
During this holding period, Alcoa can hedge or borrow against its shares. In certain conditions, the holding period may be shortened.
After the transaction, Alcoa will hold approximately 2% of Ma&#8217;aden&#8217;s outstanding shares.
The transaction is pending regulatory approvals, Ma&#8217;aden shareholder approval, and other customary conditions, with an expected closing in the first half of 2025.
William F. Oplinger, Alcoa&#8217;s President and CEO, said, &#8220;The transaction simplifies our portfolio, enhances visibility in the value of our investment in Saudi Arabia and provides greater financial flexibility for Alcoa, an important part of improving our long-term competitiveness.&#8221;
&#8220;Since 2009, Alcoa has been a valued partner of Ma&#8217;aden, and our aluminium business has benefited substantially from our strategic partnership,&#8221; stated Bob Wilt, Ma&#8217;aden&#8217;s CEO.
Alcoa closed the second quarter with a <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/b39825296/alcoa-corporation-reports-second-quarter-2024-results" rel="noreferrer noopener">cash balance of $1.49 billion.</a>
Investors can gain exposure to the stock via&nbsp;Macquarie ETF Trust Macquarie Energy Transition ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PWER#NYSE">PWER</a>) and SPDR S&amp;P Metals &amp; Mining ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XME#NYSE">XME</a>).
Price Action: AA shares are up 1.45% at $32.99 premarket at the last check Monday.
Photo via Shutterstock
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Asset Sales

Alcoa Pockets $1.1B From Saudi Joint Venture Sale: Details

Shell PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>), along with ENI S.p.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/E#NYSE">E</a>), reportedly have spearheaded an initial funding round for Boston-based climate technology start-up Mantel Capture.
Mantel Capture is developing a method to use molten salts to capture carbon dioxide emissions from refineries, factories, and other industrial sites, reported Reuters.
Mantel aims to extract 95% of carbon from smokestack emissions using molten salts.
The company claims this method is particularly cost-effective, leveraging the high temperatures within industrial furnaces and boilers to minimize the additional energy needed compared to other capture technologies.
As per the report, the $30 million secured in the Series A round will enable Mantel to construct a demonstration project at a paper mill capable of capturing 1,800 metric tons of emissions annually—about ten times the half ton per day achieved in their laboratory tests.
The report quoted Mantel CEO Cameron Halliday saying in an interview, &#8220;This is a technology that could radically change the energy industry, but there is still risk to what we&#8217;re doing.&#8221;
Halliday added, &#8220;At a scale of hundreds of thousands to millions of tons, Mantel could theoretically capture carbon at about $30 to $50 a ton, making it economically viable in many countries offering either incentives for carbon capture or taxing emissions, and far below competing systems.&#8221;
As per the report, Hector MacQuarrie, a principal at Shell Ventures, noted that Shell will monitor pilot projects before fully committing to the technology.
However, he also mentioned that this technology could significantly advance carbon capture for industries that are difficult to decarbonize.
Investors can gain exposure to Shell via&nbsp;Macquarie ETF Trust Macquarie Energy Transition ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PWER#NYSE">PWER</a>)&nbsp;and&nbsp;VanEck Natural Resources ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAP#NYSE">HAP</a>).
Price Action: SHEL shares are down 0.28% at $68.32 at the last check Thursday.
Photo courtesy: Shutterstock
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Media

Shell Backs Climate Technology Start-up for Emissions Reduction: Report

Talos Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TALO#NYSE">TALO</a>) shares are trading lower on Thursday. The company disclosed that its Ewing Bank 953 well has successfully discovered commercial <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/n40726122/talos-energy-announces-new-discovery-and-adds-additional-2024-prospect-in-the-gulf-of-mexico" rel="noreferrer noopener">quantities of oil and natural gas</a>.
Additionally, Talos has agreed to participate in the Sebastian prospect, which is currently being drilled in the Mississippi Canyon Block 387 of the U.S. Gulf of Mexico.
Talos holds a 33.3% working interest, with Walter Oil &amp; Gas Corp. holding 56.7% and Gordy Oil Company 10%.
The EW 953 well has discovered approximately 127 feet of net pay at 19,000 feet TVD, with an estimated gross recoverable potential of 15–25 million barrels of oil equivalent (MMBoe).
Initial production is expected at 8–10 thousand barrels of oil equivalent per day (MBoe/d) by mid-2026. The well will be tied back to the South Timbalier 311 Megalodon platform.
Drilling at the Sebastian prospect, started in late August 2024, targets the Upper Miocene K-1 reservoir at about 12,000 feet TVD. It is estimated to hold 9–16 MMBoe, with an initial production rate of 6–10 MBoe/d. Results are expected by the late fourth quarter of 2024.
Talos Interim President and Chief Executive Officer&nbsp;Joe Mills&nbsp;said, &#8220;This discovery follows a series of successful single-well subsea exploitation wells tied back to Talos-owned existing infrastructure, like&nbsp;Venice&nbsp;and Lime Rock, Sunspear, and Claiborne sidetrack.&#8221;
&#8220;Additionally, we were able to include the Sebastian prospect in our second-half 2024 drilling portfolio without requiring updates to our capital expenditures guidance for the year.&#8221;
Last month, Talos Energy announced that Tim Duncan has resigned as President and Chief Executive Officer,&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40653266/why-talos-energy-shares-are-falling-today" rel="noreferrer noopener">effective August 29, 2024</a>.
According to&nbsp;Benzinga Pro, TALO stock has lost over&nbsp;37%&nbsp;in the past year. Investors can gain exposure to the stock via Invesco S&amp;P SmallCap Energy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSCE#NASDAQ">PSCE</a>).
Price Action: TALO shares are down 0.42% at $10.77 at the last check Thursday.
Price Action:
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<li><a href="https://www.benzinga.com/news/earnings/24/09/40726231/nio-q2-earnings-eps-beat-deliveries-growth-strong-q3-outlook-and-more" target="_blank" rel="noreferrer noopener">NIO Q2 Earnings: EPS Beat, Deliveries Growth, Strong Q3 Outlook And More</a></li>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Small Cap

PSCE

TALO

Talos Energy's Major Offshore Discovery: Oil And Gas Found In Gulf Of Mexico

Shell plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>) shares are trading lower premarket Tuesday. The company inked a 10-year LNG agreement with Turkey&#8217;s Petrol Taşıma AŞ (BOTAŞ).
As per the deal, Shell will supply BOTAŞ with up to 4 billion cubic meters of liquefied natural gas (<a target="_blank" href="https://www.botas.gov.tr/Icerik/botas-and-shell-sign-long-term/1008" rel="noreferrer noopener">LNG</a>) annually from its U.S. and global portfolios, starting in 2027.
The agreement will enable BOTAŞ to broaden its LNG access and leverage its extensive terminal and pipeline infrastructure, aiding Türkiye in diversifying its gas resources and positioning itself as a significant regional gas hub.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40633899/shell-considers-job-cuts-in-oil-and-gas-workforce-report" rel="noreferrer noopener">Shell Considers Job Cuts In Oil And Gas Workforce: Report</a>
Alparslan BAYRAKTAR, the Republic of Türkiye's Minister of Energy and Natural Resources, said, &#8220;Our goal in natural gas, 99% of which we imported until the discovery of Black Sea Gas, is to diversify the supply side and offer natural gas to our citizens and industry in a more competitive and affordable rate. In this context, we have strengthened our infrastructure with international pipelines, LNG terminals and underground storage projects.&#8221;
According to Reuters calculations, Turkey has the flexibility to meet a significant portion of its national gas consumption with liquefied natural gas (LNG) instead of pipeline gas, thanks to a gasification capacity of approximately 0.16 bcm per day.
Notably, Shell&nbsp;is committed to expanding its LNG capacity by 20-30% by 2030 from its 2022 levels, which is in line with its outlined targets <a target="_blank" href="https://www.benzinga.com/markets/equities/24/06/39372721/shell-secures-major-lng-deal-with-temaseks-pavilion-energy-details" rel="noreferrer noopener">during the 2023 Capital Markets Day</a>.
Last month, Shell USA, Inc. subsidiaries agreed to sell their 100% stake in the Sinco pipeline system and Colex terminal to a <a target="_blank" href="https://www.shell.us/media/2024-media-releases/shell-to-sell-sinco-pipeline-system-and-colex-terminal-to-edgewater-midstream.html" rel="noreferrer noopener">subsidiary</a> of Edgewater Midstream LLC, pending regulatory approval.
Shell stock has gained&nbsp;around&nbsp;16% in the last 12 months. Investors can gain exposure to the stock via&nbsp;Macquarie ETF Trust Macquarie Energy Transition ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PWER#NYSE">PWER</a>)&nbsp;and&nbsp;VanEck Natural Resources ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAP#NYSE">HAP</a>).
Price Action: SHEL shares are down 2.40% at $69.94 premarket at the last check Tuesday.
Image by siam.pukkato via Shutterstock
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

What's Going On With Shell Shares Premarket Tuesday?

Shell plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>) reportedly plans to reduce its oil and gas exploration and development workforce by 20%.
This move follows significant reductions in the renewables and low-carbon businesses, reported Reuters.
As per the report, the proposed 20% reduction is contingent upon consultations with employee representative bodies.
The restructuring of Shell&#8217;s exploration, wells development, and subsurface units will result in hundreds of job cuts globally, with notable impacts on its offices in Houston, The Hague, and, to a lesser extent, Britain.
The report quoted Shell as saying, &#8220;Shell aims to create more value with less emissions by focusing on performance, discipline, and simplification across the business. That includes delivering structural operating cost reductions of $2-3 billion by the end of 2025.&#8221;&nbsp;
Recently, Shell has reduced operations in offshore wind, solar, and hydrogen, and has sold off retail power businesses, refineries, and certain oil and gas production assets, including those in Nigeria.
Shell and&nbsp;PetroChina joint venture, Arrow Energy, recently revealed plans to develop&nbsp;Phase&nbsp;2 of the Surat <a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40307821/shell-and-petrochina-to-develop-phase-2-of-surat-gas-project-details" rel="noreferrer noopener">Gas Project in Queensland, Australia</a>.
This month, the company reported second-quarter revenue of $74.46 billion, <a target="_blank" href="https://www.benzinga.com/news/earnings/24/08/40098587/shells-mixed-bag-q2-revenue-beats-expectations-but-profit-and-production-decline-sequentially" rel="noreferrer noopener">beating consensus of $61.33 billion.</a>
Shell stock has gained&nbsp;around&nbsp;16%&nbsp;in the last 12 months. Investors can gain exposure to the stock via&nbsp;Macquarie ETF Trust Macquarie Energy Transition ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PWER#NYSE">PWER</a>)&nbsp;and&nbsp;VanEck Natural Resources ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAP#NYSE">HAP</a>).
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40508904/gevo-and-shell-team-up-to-drive-green-revolution-in-motorsports-details" rel="noreferrer noopener">Gevo And Shell Team Up To Drive Green Revolution In Motorsports: Details</a>
Price Action: SHEL shares are up 0.60% at $72.38 at the last check Thursday.
Photo courtesy: Shutterstock
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Shell Considers Job Cuts In Oil And Gas Workforce: Report

On Thursday, the Australian government reportedly granted Equinor ASA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQNR#NYSE">EQNR</a>) and Oceanex Energy a license to assess the feasibility of constructing a wind farm in waters off the country&#8217;s east coast.
The feasibility license permits developers to conduct environmental assessments and geotechnical surveys, reported Reuters.
Energy Minister Chris Bowen announced that the proposed Novocastrian Wind project, located more than 20 km offshore Newcastle in New South Wales, could potentially generate over 2 gigawatts (GW) of electricity, sufficient to power 1.2 million homes, per the report.
Bowen added that if feasibility is confirmed, Oceanex, in partnership with Equinor, will be eligible to apply for a commercial license to develop the offshore wind project.
The decision was made a day after the opposition Coalition proposed on Wednesday to build seven nuclear plants by 2050 to replace coal-fired power, despite Australia&#8217;s current ban on nuclear power.
Prime Minister Anthony Albanese criticized the policy, describing it as &#8220;a recipe for an economic catastrophe&#8221; that would increase costs for taxpayers.
Albanese has been focusing on expanding renewable energy projects to achieve its goal of reaching net zero emissions by 2050 and phasing out coal-fired power.
The government aims for 82% of the power supply to be sourced from renewables by 2030, but currently, the figure stands at about 40%. This is despite committing over A$40 billion ($26.7 billion) to support new wind, solar, and battery projects through underwriting, the report further added.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/06/39189027/equinor-executes-offtake-agreement-for-empire-wind-1-details" rel="noreferrer noopener">Equinor Executes Offtake Agreement For Empire Wind 1: Details</a>
Investors can gain exposure to the stock via&nbsp;Macquarie ETF&nbsp;Trust Macquarie Energy Transition ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PWER#NYSE">PWER</a>) and&nbsp;Pacer Developed&nbsp;Markets International Cash Cows 100 ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ICOW#BATS">ICOW</a>).
Price Action: EQNR shares are up 0.78% at $27.26 premarket at the last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Australia Grants Equinor Feasibility License For Offshore Wind Project: Report

Equinor ASA&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQNR#NYSE">EQNR</a>) finalized a Purchase and Sale Agreement (PSA) with the New York State Energy Research and Development Authority (NYSERDA) for renewable <a target="_blank" href="https://www.equinor.com/news/20240604-solidifies-new-york-offtake-contract-empire-wind-1" rel="noreferrer noopener">power </a>from the Empire Wind 1 offshore wind project.
This agreement follows NYSERDA&#8217;s disclosed in February that Equinor had been chosen as a conditional winner in New York&#8217;s fourth offshore wind solicitation.
Construction is underway at the South Brooklyn Marine Terminal for Empire Wind 1, the first offshore wind project directly linked to the New York City grid. Power delivery is slated to begin by late 2026.
Empire Wind 1 is projected to achieve forward-looking real base project returns within the guided range for renewable projects, with a strike price of $155.00 per MW/h. Equinor plans to secure project financing after the final investment decision and expects closure by the end of 2024.
The signing of the offtake agreement further solidifies Empire Wind 1&#8217;s progress towards powering 500,000 New York homes with renewable energy. It will create over 1,000 union jobs during construction, boost local economies, and advance New York and the East Coast offshore wind industry.
Apart from this, Equinor is <a target="_blank" href="https://www.equinor.com/news/20240604-divests-interests-gina-krog-area" rel="noreferrer noopener">divesting </a>19.5% stakes in production licenses PL 048E (Eirin field) and PL 1201 to PGNiG Upstream Norway AS (PGNiG) in the Gina Krog field.
The Plan for Development and Operation (PDO) for Eirin was greenlit in January 2024. The field will be a subsea facility connected to the Gina Krog platform. The subsea template is being constructed in Egersund and will be installed in the summer of 2024.
Last month, Equinor ASA and Troll partnered to invest NOK 12 billion ($1.1 billion) in Troll West gas <a target="_blank" href="https://www.benzinga.com/markets/equities/24/05/39005429/equinor-and-partners-pump-1-1b-into-troll-west-expansion-fueling-europes-future" rel="noreferrer noopener">infrastructure for sustained exports until 2030</a>.
Investors can gain exposure to the stock via&nbsp;Macquarie ETF&nbsp;Trust Macquarie Energy Transition ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PWER#NYSE">PWER</a>)&nbsp;and&nbsp;Pacer Developed&nbsp;Markets International Cash Cows 100 ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ICOW#BATS">ICOW</a>).
Price Action: EQNR shares are down 0.25% at $27.69&nbsp;at the last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Company

Equinor Executes Offtake Agreement For Empire Wind 1: Details

Equinor ASA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQNR#NYSE">EQNR</a>) and the Troll partners have decided to invest just over NOK 12 billion (~$1.1 billion) to <a href="https://www.equinor.com/news/20240524-investing-to-maintain-high-gas-production-at-troll" target="_blank" rel="noreferrer noopener">develop </a>further the gas infrastructure in the Troll West gas province.
The investment will accelerate reservoir production and thus maintain the current high gas export levels from the Troll and Kollsnes value chain until 2030.
The company expects production from the reservoir&nbsp;equivalent&nbsp;to increase to about 55 billion standard cubic&nbsp;meters&nbsp;of gas, and at&nbsp;peak level, the annual contribution from the new development will amount to around 7 billion standard cubic&nbsp;meters&nbsp;of gas.
The stage&nbsp;2 of the Troll Phase 3 project includes eight new wells from two new templates with subsea controls extended from existing templates, with the&nbsp;first wells are scheduled to come on stream at the end of 2026.
&#8220;We have been working alongside our partners, Gassco&nbsp;and&nbsp;the Norwegian authorities&nbsp;to&nbsp;maximise&nbsp;energy deliveries from the Norwegian continental shelf (NCS) since 2022.&nbsp;This project will allow Troll and Kollsnes to continue their substantial contributions to the role of the NCS in guaranteeing European energy security in challenging times. The gas from Trollalone meets around 10 % of&nbsp;Europe's&nbsp;demands,"&nbsp;said Kjetil Hove, executive vice president for Exploration and Production Norway.
Last week, Equinor received approval from the New York State Public Service Commission to start building its&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/05/38890869/equinor-reportedly-scores-final-permit-empire-wind-1-to-blast-off-in-2026" rel="noreferrer noopener">Empire Wind 1 offshore wind farm</a>.
Last month, Equinor reported first-quarter FY24&nbsp;with $24.79 billion in adjusted revenue,&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38430077/why-oil-gas-major-equinor-shares-are-higher-premarket-thursday" rel="noreferrer noopener">beating&nbsp;consensus of $22.24 billion</a>.
Investors can gain exposure to the stock via&nbsp;Macquarie ETF&nbsp;Trust Macquarie Energy Transition ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PWER#NYSE">PWER</a>) and&nbsp;Pacer Developed&nbsp;Markets International Cash Cows 100 ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/ICOW#BATS">ICOW</a>).
Price Action: EQNR shares are up 0.18% at $28.58 premarket&nbsp;at the last check Friday.
Photo via Company

Equinor And Partners Pump $1.1B Into Troll West Expansion, Fueling Europe's Future

Equinor ASA&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQNR#NYSE">EQNR</a>) shares are trading higher after the company reported&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/g38421739/equinor-first-quarter-2024-results" rel="noreferrer noopener">first-quarter FY24 results</a>.
Adjusted revenue and other income declined 13% Y/Y to $24.79 billion, above the consensus of $22.24 billion.
Equity liquids production rose 2% Y/Y to 2,164&nbsp;mboe&nbsp;per day, led by increased capacity at Johan Sverdrup and ramp-up of Breidablikk and&nbsp;new wells on stream.
Also, the equity gas production fell 1% Y/Y to 1,046 mboe per day in the quarter. Group average liquids price rose 3% Y/Y to $76.0/bbl, and realised piped gas price US tumbled 28% Y/Y to $2.33/mmbtu.
Equinor produced 774 GWh from renewables, up 48% Y/Y, led by onshore power plants in Brazil and higher production from offshore wind farms.
Operating cash flow stood at $9.0 billion, down 39% Y/Y, in the quarter. Adjusted EPS of $0.96 <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">beat the consensus of $0.80</a>.
Dividend: The board of directors declared a first-quarter ordinary cash dividend per share of $0.35 and an extraordinary cash dividend of $0.35, payable on August 28, 2024, to shareholders of&nbsp;record&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/g38421741/equinor-asa-key-information-relating-to-cash-dividend-for-first-quarter-2024" rel="noreferrer noopener">as of August 19, 2024</a>.
Repurchase: The company started the second tranche of the share buyback program for 2024 on May 14, with a&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/g38421744/equinor-to-commence-second-tranche-of-the-2024-share-buy-back-programme" rel="noreferrer noopener">total value of up to $1.6 billion</a>.
In February 2024, the board of directors disclosed a two-year share buyback program for 2024-2025 of $10 billion-$12 billion in total, with&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/02/36981251/why-oil-gas-major-equinor-shares-are-diving-premarket-wednesday" rel="noreferrer noopener">up to $6 billion for 2024</a>.&nbsp;
In the quarter, Equinor completed nine exploration wells offshore with two commercial discoveries and had three wells ongoing at the end of the quarter.
FY24 Outlook&nbsp;Reaffirmed: Equinor expects production to be stable Y/Y and organic capital expenditures&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">to be around $13 billion</a>.
Equinor expects total capital distributions in&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/02/36981251/why-oil-gas-major-equinor-shares-are-diving-premarket-wednesday" rel="noreferrer noopener">FY24 of $14 billion in FY24</a>.
Anders Opedal, President and&nbsp;CEO,&nbsp;said, &#8220;On the&nbsp;NCS&nbsp;we got approval for the Eirin project&nbsp;and&nbsp;the Sleipner and Gudrun fields are now partially operating with power from shore, all contributing to lower cost and emissions from production.&#8221;
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/03/37840788/equinor-infuses-6b-annually-to-maintain-norways-oil-game-report" rel="noreferrer noopener">Equinor Infuses $6B Annually To Maintain Norway&#8217;s Oil Game:&nbsp;Report</a>
&#8220;We maintain a value-driven approach to renewables growth. In the quarter, we achieved significantly better terms for our Empire Wind 1 project in the US and started the commercial production from the Mendubim solar plants in Brazil.&#8221;
Investors can gain exposure to the stock via&nbsp;Macquarie ETF Trust Macquarie Energy Transition ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PWER#NYSE">PWER</a>) and&nbsp;Pacer Developed Markets International Cash Cows 100 ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/ICOW#BATS">ICOW</a>).
Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/03/37422013/equinor-expands-helicopter-diversity-for-norwegian-continental-shelf-operations-details" rel="noreferrer noopener">Equinor Expands Helicopter Diversity For Norwegian Continental Shelf Operations: Details</a>
Price Action: EQNR shares are up 4.02% at $28.19 premarket at&nbsp;the last check Thursday.

Dividends

Buybacks

Why Oil & Gas Major Equinor Shares Are Higher Premarket Thursday

Alcoa Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>) gets a price target bump from a couple of analysts following better-than-expected&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/AA/analyst-ratings" rel="noreferrer noopener">first-quarter FY24 results</a>.
Yesterday, the company reported an EPS loss of $(0.81), which beat the consensus loss of $(0.55) and revenue of $2.60 billion, beating the&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38302798/alcoa-stock-climbs-on-q1-results-heres-why" rel="noreferrer noopener">consensus estimate of $2.56 billion</a>.
Alcoa expects alumina production to be 9.8 million and 10 million metric tons and alumina shipments to be 12.7 million and&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">12.9 million metric tons for FY24</a>.
BMO Capital Markets&nbsp;analyst Katja Jancic raised the price target to $37 (from $35) and maintained the Market Perform rating.
The analyst says Alcoa is well-positioned to benefit from the positive aluminum price momentum and continued multiple actions to deliver profitability improvements over time.
Also, Jancic continues to project that the acquisition of the remaining 40% of Alcoa World Alumina &amp; Chemicals (AWAC) is expected to be beneficial in the longer term, given higher economic interest and simplified structure/greater flexibility.
Last month, Alcoa inked a binding Scheme Implementation Deed to acquire&nbsp;Alumina Limited&nbsp;Alumina Stock&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/AWCMF#OTC">AWCMF</a>) for $2.2 billion in&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/03/37611427/alcoa-seals-2-2b-deal-to-acquire-alumina-limited-amplifying-market-presence" rel="noreferrer noopener">an all-scrip, or all-stock, transaction</a>.&nbsp;
Consequently, the analyst estimates EPS of $(0.64) vs. $(0.79) earlier in FY24 and $1.43 (vs $1.61 prior) for FY25.
Also,&nbsp;Jefferies&nbsp;increased the price target to $48 (from $45) and reiterated a Buy rating.
Meanwhile,&nbsp;J.P.Morgan&nbsp;analyst Bill Peterson writes that Aluminum demand continues to improve across markets (ex, Europe construction), which supports firming prices and improved profitability despite ongoing challenges at Warrick, Alumar, and San Ciprian mines.
The analyst estimates an EPS loss of $(1.17) (vs. $0.35 earlier) for FY24 and $2.59 (vs. $3.10 prior) for FY25.
Also, the analyst cut the second-quarter FY24 EBITDA to $245 million (vs. prior $272 million), but expects guided headwinds can be more than offset by improved pricing in both segments (alumina/aluminum +4%/+11% QTD), driving higher earnings Q/Q.&nbsp;
Also, Peterson cut the EBITDA to $1.0 billion (from $1.1 billion) for 2024.
Investors can gain exposure to the stock via&nbsp;SPDR S&amp;P Metals &amp; Mining ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XME#NYSE">XME</a>) and&nbsp;Macquarie ETF Trust Macquarie Energy Transition ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PWER#NYSE">PWER</a>).
Price Action: AA shares are down 0.19% at $35.49 on the last check Thursday.
Photo via Wikimedia Commons

Analyst Color

Reiteration

Analyst Ratings

Trading Ideas

AWCMF

Alcoa Well-Positioned To Benefit From Positive Pricing Momentum, Analyst Says

It may be time for solar stocks to emerge out of the doldrums and bask under the glorious sunshine. Gordon Johnson of Axiom Capital, who was decisively bearish on solar stocks, is revisiting his call and upgraded a few prominent names in the sector.
<h3>Bear Way Back From 2008</h3>
Back in October 2008, the analyst made his first call on the sector, which was markedly bearish. Johnson rated the sector an Underperform and Suntech Power Holdings Co., Ltd. (ADR) (Previously traded (OTC: <a class="ticker" href="/stock/stpfq#OTC">STPFQ</a>)), another stock he covered in the sector, saw its stocks sink deep into the abyss, falling to $5 from $24, as Sweden, an end market scaled back on spending. This created a supply glut.
In an interview with Barron's in September 2009, Johnson called out SunPower Corporation (NASDAQ: <a class="ticker" href="/stock/spwr#NASDAQ">SPWR</a>) at a Sell, with a $15 price target. For both Yingli Green Energy Holding Co Ltd (ADR)(NYSE: <a class="ticker" href="/stock/yge#NYSE">YGE</a>) and Trina Solar Limited (ADR) (NYSE: <a class="ticker" href="/stock/tsl#NYSE">TSL</a>), he had Hold ratings, with a price target of $24 for Trina and $9 for Yingli.
<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/analyst-ratings/analyst-color/16/10/8537698/how-will-the-presidential-election-affect-solar-stocks">How Will The Presidential Election Affect Solar Stocks</a></bzrelatedlink>
In about a year, SunPower slumped to around $12, Yingli was steady around $10 and Trina around $30.
<h3>A Questionable Call In 2012</h3>
After a horrid 2011, which saw the shares of the solar companies losing $27 billion in market capitalization, Johnson saw salvation for the sector in 2012. In an en masse upgrade, he raised his ratings on First Solar, Inc. (NASDAQ: <a class="ticker" href="/stock/fslr#NASDAQ">FSLR</a>), Yingli, Trina, Suntech Power and Power One Inc (Previously traded (NASDAQ: <a class="ticker" href="/stock/pwer#NASDAQ">PWER</a>)). The rationale behind the move: The inventory glut is clearing up, thanks to increasing solar installations in Germany and the U.K.
Over a one-year horizon, the paradise lost remained lost for these companies.
<h3>Bearish In 2013 But Stocks Strong</h3>
In mid-2013, when solar stocks rallied strongly, Johnson recommended shorting the sector, as he firmly believed, solar energy plants will never attain grid parity, a point where an alternative energy costs same or less than traditional sources. The analyst saw downside to the stocks in the sector. First Solar, Trina and JA Solar Holdings Co., Ltd. (ADR) (NASDAQ: <a class="ticker" href="/stock/jaso#NASDAQ">JASO</a>) were on his shorting list. However, since mid-2013, the stocks only went from strength to strength.
Johnson was again negative on the sector in 2014, citing balance sheet risks for the companies, as they were up against Chinese cell/module vendors. The stocks had a rough ride for much of 2014 and 2015.
<h3>An About Face For The Chronic Bear</h3>
Johnson now sees light at the end of the tunnel. Axiom Capital upgraded Yingli, Trina and JA Solar all to Buy from Sell and SolarCity Corp (NASDAQ: <a class="ticker" href="/stock/scty#NASDAQ">SCTY</a>) to Hold. The price target on Yingli shares was raised to $5.40, Trina to $15 and JA Solar to $10.
The analyst based his new found optimism on the proposed FiT cut by China in July 2017, his view that multi-wafer, multi-cell price declines may be bottoming out, the underperformance of the Solar TAN Index attracting clean energy funds' focus on solar stocks and a possible Hillary Clinton's re-election that could lead to more investment into the sector.
<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/analyst-ratings/analyst-color/16/10/8536747/solars-most-noted-bear-turns-bullish-upgrades-solarcity-">Solar's Most Noted Bear Turns Bullish, Upgrades SolarCity, Trina, JA And Yingli</a></bzrelatedlink>
<h3>At Last Check ...</h3>
<ul>
<li>First Solar was down 0.55 percent at $39.53.</li>
<li>JA Solar was up 5.24 percent at $6.93.</li>
<li>Power One is no longer publicly traded.</li>
<li>SolarCity Corp was down 2.64 percent at $19.52.</li>
<li>SunPower was flat on the day at $8.84.</li>
<li>Suntech is no longer publicly traded.</li>
<li>Trina was up 1.12 percent at $10.38.</li>
<li>Yingli was up 2.57 percent at $3.99.</li>
</ul>
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Gordon Johnson And Solar Stocks: A Chronology Of Bearishness

Amended 13D Filing from Becker Drapkin Mgmt on Powersecure Shows 6.3% Stake, Had Shown 5.61% Stake as of Aug. 11th

Power-One, Inc. (Nasdaq: <a class="ticker" href="/stock/pwer#Nasdaq">PWER</a>), a leading global manufacturer of renewable energy and energy-efficient power conversion and management solutions, announced today that it entered into a non-exclusive, worldwide, Field of Use agreement with Bellnix Co., Ltd. for Digital Power Technology (DPT) patents from Power-One.

Digital Power Technology drives increased system efficiency, improved design flexibility, faster time to market, decreased board space requirements and lower system costs. DPT also enables telemetry capability, providing access to critical information including current, temperature and voltage. Telemetry allows the system to accurately monitor its power consumption and thermal performance, enabling designers to easily engineer key features such as system power optimization, fault detection and predictive maintenance features into their end products.

Applications utilizing FPGAs, ASICS, DSPs continue to drive board densities higher, requiring complex power architectures to handle and manage the increasing number of voltage rails and output voltages. Digital Power Technology is an extremely effective solution for these complex power requirements during design, manufacturing and operation.

"Power-One is pleased to license its Digital Power Technology to Bellnix, a well-respected Japanese supplier for AC/DC and DC/DC converters," said Steve Hogge President of Power Solutions business unit at Power-One. "With the increasing number of leading power supply and semiconductor companies partnering with Power-One, we continue to expand the market by providing energy-efficient technologies with increased functionality for our customers."

"These DPT patents support Bellnix's new product category," said Kenichiro Suzuki, Managing Director. "Configurability through serial communication is crucial to system optimization and maximizing power conversion performance."

Power-One designs and manufactures energy-efficient power conversion and power management solutions for renewable energy, routers, data storage and servers, wireless communications, optical networking, medical diagnostics, railway controls, semiconductor test equipment and custom applications. Power-One, with headquarters in Camarillo, CA, has global sales offices, manufacturing and R&amp;D operations in Asia, Europe and the USA. Please visit www.power-one.com for more information.

Bellnix CO., Ltd. is a leading switching regulator manufacturer. Headquartered in Saitama-ken, Japan, Bellnix offers variety of switching modulators including Digital Controlled POLs, Fast Transient POLs, High Voltage DC-DC converter modules, DOSA compliance Power Modules and custom power modules. For more information, visit the Bellnix website at <a href="http://www.bellnix.com.">http://www.bellnix.com.</a>

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Power-One and Bellnix Enter Into Patent License Agreement 

Power-One, Inc. (NASDAQ: <a class="ticker" href="/stock/pwer#NASDAQ">PWER</a>) sees Q2 sales of $215.0M-230.0M vs $214.63M estimate.

Power-One, Inc. Sees Q2 Sales $215.0M-230.0M vs $214.63M Est

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