How NextEra Energy’s Business Mix Is Shifting
NextEra Energy (NEE) has been reducing its relatively riskier competitive operations and increasing regulated business, which seems to be a common trend among peers.
NextEra Energy (NEE) has one of the cleanest generation mixes among peers.
NextEra Energy is one of the fastest-growing utilities in the country. In this series, we’ll discuss its operational and financial metrics and see whether it’s attractive from a long-term investment perspective.
TransCanada (TRP) operates through five segments—Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, and Energy.
TransCanada (TRP) was founded more than 65 years ago, and its operations spread across seven Canadian provinces, 38 US states, and Mexico.
Having assessed Carrizo Oil & Gas’s EV-to-EBITDA (enterprise value to earnings before interest, tax, depreciation, and amortization) ratio, let’s now take a look at its valuation.
Carrizo Oil & Gas’s (CRZO) EV-to-adjusted EBITDA (enterprise value to adjusted earnings before interest, tax, depreciation, and amortization) ratio was ~9.1x in 1Q17.
In 1Q17, Carrizo Oil & Gas (CRZO) reported CFO (cash flow from operations) of $76 million, a ~41% rise compared to its CFO in 1Q16.
According to Carrizo Oil & Gas (CRZO), it has no near-term maturities. In 2020, its 7.5% senior unsecured notes will be due.
Carrizo Oil & Gas’s (CRZO) net debt-to-adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) ratio rose from 1Q15 to 3Q16.
For 2017, CRZO expects its production to average between ~54.5 Mboepd (thousand barrels of oil equivalent per day) and 56.1 Mboepd.
Crude oil represented 62% of Carrizo Oil & Gas’s total production in 1Q17. Oil’s share as a percentage of CLR’s total production has mostly remained the same since 1Q15.
Now that we’ve looked at how Carrizo Oil & Gas’s (CRZO) portfolio has shifted over the past couple of years, let’s take a look at its current acreage position.
As we’ve learned, Carrizo Oil & Gas (CRZO) recently announced that it would be acquiring properties in the Delaware Basin to strengthen its position in the area.
Carrizo Oil & Gas (CRZO) holds 103,000 net acres and over 1,200 net undrilled locations in the Eagle Ford Shale.
Targa’s Logistics and Marketing segment includes all the activities necessary to convert mixed NGLs into NGL products.
Although Xcel Energy (XEL) has been steadily making profits, its cash from operations seems to be insufficient to fund its capital expenditure needs.
While coal has lost its dominant position in US power generation over the past few years, Xcel Energy’s generation mix is still overshadowed by coal.
Xcel Energy (XEL) has a market capitalization of $23 billion and appears to be one of the potentially attractive utility stocks in 2017.
Kinder Morgan (KMI) reduced its net debt by $3.1 billion in 2016. Its net debt stood at $38.2 billion at the end of 2016.