Top 2 Utilities Stocks That May Rocket Higher In June
Portfolio Pulse from Avi Kapoor
The article highlights two oversold utility stocks, National Grid plc (NYSE:NGG) and Pure Cycle Corporation (NASDAQ:PCYO), which may present buying opportunities. National Grid reported a significant equity raise and a decrease in full-year revenue, while Pure Cycle posted an increase in quarterly sales driven by its Sky Ranch Master Planned community.
June 12, 2024 | 11:58 am
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NEGATIVE IMPACT
National Grid reported a £7 billion equity raise and a year-over-year decrease in full-year revenue. The company plans to streamline its business by selling its UK LNG asset and US onshore renewables business. The stock fell around 22% over the past month.
The significant equity raise and revenue decrease, along with the strategic shift to streamline operations, have negatively impacted investor sentiment, leading to a substantial drop in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Pure Cycle posted an increase in quarterly sales driven by its Sky Ranch Master Planned community. The company is accelerating lot deliveries, with substantial progress expected in the remaining half of the fiscal year. The stock fell around 4% over the past month.
The increase in quarterly sales and accelerated lot deliveries indicate positive operational performance, which may lead to a short-term price increase despite the recent stock decline.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100