Latest news with #utility
Reuters
a day ago
- Business
- Reuters
UK's Thames Water may be required to restate accounts, FT reports
June 20 (Reuters) - Britain's Thames Water may be forced to restate its financial accounts for the year ending March 2024, the Financial Times reported on Friday, in another possible setback for the struggling utility as it attempts to avoid nationalisation. Thames Water is trying to understand the consequences of having to restate key figures in its accounts published last year, the report added, citing documents it had seen. Reuters could not immediately verify the report.
Yahoo
a day ago
- Business
- Yahoo
Is Ameren Stock Outperforming the S&P 500?
Saint Louis, Missouri-based Ameren Corporation (AEE) generates and distributes electricity and natural gas to residential, commercial, industrial, and wholesale end markets in Missouri and Illinois. With a market cap of $25.5 billion, Ameren operates through Ameren Missouri, Ameren Illinois Electric Distribution, Ameren Illinois Natural Gas, and Ameren Transmission segments. Companies with a market cap of $10 billion or more are categorized as "large-cap stocks." Ameren fits this description perfectly, with its market cap exceeding this threshold, reflecting its substantial size and influence in the utility sector. Is Palantir Stock Poised to Surge Amidst the Israel-Iran Conflict? 'It Has No Utility': Warren Buffett Doesn't Care How High Gold Goes, He Isn't a Buyer CoreWeave Stock Is Too 'Expensive' According to Analysts. Should You Sell CRWV Now? Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. Ameren touched its all-time high of $104.10 on Mar. 4 and is currently trading 9.3% below that peak. AEE stock has dropped 5.4% over the past three months, notably lagging behind the S&P 500 Index's ($SPX) 6.5% gains during the same time frame. Nevertheless, Ameren has significantly outperformed the broader market over the longer term. AEE stock has gained 5.9% on a YTD basis and 34.5% over the past 52 weeks, compared to SPX's 1.7% uptick in 2025 and 9% returns over the past 52 weeks. To confirm its overall bullish trend and recent downturn, AEE stock has traded consistently above its 200-day moving average since mid-July last year, but dropped below its 50-day moving average in early April. Ameren's stock prices gained 1.4% in the trading session after the release of its mixed Q1 results on May 1. The company's operating revenues from electric sales soared 18.9% year-over-year to $1.6 billion, along with a notable uptick in natural gas sales to $475 million. This led to its overall revenues growing 15.5% year-over-year to $2.1 billion, surpassing the consensus estimates by 5.7%. However, Ameren's profitability didn't flare as expected, due to an increase in operating and interest expenses. Its non-GAAP EPS grew by a modest 4.9% compared to the year-ago quarter to $1.07, and missed the Street's expectations by 93 bps. While the stock has lagged behind its peer Consolidated Edison, Inc.'s (ED) 12.9% gains in 2025, Ameren has significantly outperformed ED's 11.4% returns over the past 52 weeks. Among the 16 analysts covering the AEE stock, the consensus rating is a 'Moderate Buy.' Its mean price target of $104.07 suggests a 10.2% upside potential from current price levels. On the date of publication, Aditya Sarawgi did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
BBC News
a day ago
- Automotive
- BBC News
Temporary traffic lights in Hull's Spring Bank cause delays
Roadworks causing delays on a busy junction near Hull city centre will be completed by 25 June, a utility firm has traffic lights have been set up on Spring Bank and Park have reported congestion along both sides of Spring Bank, with queues back to the junction with Beverley Road and Ferensway at peak company Northern Powergrid said it was carrying out work to "overlay 263 ft (80m) of cable in the carriageway". "We expect work to be completed by the 25 June and the site to be completely reinstated," a spokesperson said."We thank customers for their patience whilst we work as quickly and as safely as possible." Listen to highlights from Hull and East Yorkshire on BBC Sounds, watch the latest episode of Look North or tell us about a story you think we should be covering here.
Zawya
a day ago
- Business
- Zawya
Oman invites bids for two key substation projects
Oman Electricity Transmission Company (OETC) has invited bids from leading utility project developer/ developer consortiums for the construction of 400kV and a 132kV substation projects. For the 400kV unit, the scope of work includes construction of Majan 400/220/132kV grid station along with associated 400kV Lilo (underground cables) work linking SFZ Grid Station to SIS Grid Station, said OETC in a statement. For the 132kV substation project, the work involves construction of Sultan Haitham City 132/33kV grid station as well as associated 132kV Lilo (underground cables) work linking Mobillah grid station to Mobillah industrial grid station. The deadlline for submitting the bids has been set at July 22. A key player in the power sector, Oman Electricity Transmission Company is the owner and operator of the main transmission network across the sultanate. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Bloomberg
2 days ago
- Business
- Bloomberg
UK Resists Preferential Treatment for Struggling Thames Water
The UK government is rejecting calls for preferential treatment for Thames Water and stepping up preparations for all possible outcomes — including special administration — as the heavily indebted utility struggles to stabilize its finances. 'The government would always act in the national interest on these issues,' Environment Secretary Steve Reed told UK lawmakers on Thursday. 'Thames Water must meet its statutory and regulatory obligations to their customers and to the environment. It is only right that the company is subject to the same consequences as any other water company.'
