PG&E Corporation (NYSE:PCG) is among the Best Affordable Stocks Under $40 to Buy. PG&E Corporation (NYSE:PCG) has gained more than 5% since its fiscal Q4 2025 earnings, released on February 12. Wall Street maintains a positive outlook, with analysts’ 12-month price target reflecting more than 15% upside from the current levels. ​Recently, on February 13, Wells Fargo reiterated a Buy rating on the stock with a $24 price target. On the same day, Ryan Levine from Citi also maintained a Buy rating on the sto ...

Core Insights - CenterPoint Energy (CNP) is expected to report quarterly earnings of $0.46 per share, a 15% increase year-over-year, with revenues projected at $2.33 billion, reflecting a 2.9% year-over-year increase [1]. Earnings Estimates - There has been no revision in the consensus EPS estimate for the quarter over the last 30 days, indicating stability in analysts' forecasts [2]. - Revisions to earnings projections are crucial for predicting investor behavior and stock price performance [3]. Revenue Projections - Analysts project 'Revenues- Electric Transmission and Distribution' to reach $1.15 billion, indicating a year-over-year increase of 5.5% [5]. - 'Revenues- Natural Gas Distribution' is forecasted to be $1.20 billion, reflecting a 2.6% year-over-year increase [5]. - 'Revenues- Utility' is expected to reach $2.31 billion, also suggesting a 2.6% year-over-year increase [5]. Operating Income Estimates - The average estimate for 'Operating Income / (loss)- Natural Gas Distribution' is $300.31 million, up from $275.00 million year-over-year [6]. - The consensus estimate for 'Operating Income / (loss)- Electric Transmission and Distribution' is $317.31 million, compared to $215.00 million from the previous year [6]. Stock Performance - Over the past month, shares of CenterPoint have increased by 6%, while the Zacks S&P 500 composite has decreased by 2% [6]. - Currently, CNP holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the overall market in the near future [6].

Financial Data and Key Metrics Changes - The company reported GAAP diluted EPS of $2.94 and non-GAAP diluted EPS of $3.58, reflecting a 5.3% growth from 2024 on a non-GAAP basis [7][9][15] - The quarterly dividend is being increased by 1.5% to $0.67 per share [7] - The company is initiating 2026 earnings guidance in the range of $3.68-$3.83 per share, representing a 5% growth at the midpoint from 2025 results [8][16] Business Line Data and Key Metrics Changes - The improved margin reflects new rates and regulatory execution, although it was offset by mild weather and higher operating costs [10][12] - Adjusted earnings for the fourth quarter were $1.17, compared to $1.13 in Q4 2024, despite unfavorable weather impacts [11][15] Market Data and Key Metrics Changes - The company has made significant progress in data center growth opportunities, signing a third letter of intent for a 500+ MW data center and advancing with Sabey to a development agreement [7][24] - The company is actively pursuing large load customers in both Montana and South Dakota, with ongoing discussions and agreements in place [26][27] Company Strategy and Development Direction - The company announced an all-stock merger agreement with Black Hills Corporation, expected to close in the second half of 2026, which aims to enhance scale and growth opportunities [4][20] - The updated five-year capital plan is set at $3.21 billion, a 17% increase over the prior plan, focusing on self-funded capital and maintaining high credit quality [8][17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the legislative outcomes in Montana, which support transmission investments and wildfire risk management [5][6] - The company is optimistic about its ability to serve large load customers and the benefits of the merger, which is expected to create long-term value for both shareholders and customers [20][22] Other Important Information - The company has filed joint requests for merger approval in multiple states and is preparing for hearings in the second quarter of 2026 [23] - The company is addressing environmental concerns related to Colstrip and is prepared to invest in necessary upgrades if required [81][83] Q&A Session Summary Question: Update on large load tariff filing - The company plans to file a large load tariff once a signed ESA is in place, aiming for completion by the end of Q2 2026 [39][41] Question: Education plan for stakeholders regarding data centers - Management is focused on demonstrating the benefits of data centers and ensuring that they contribute fairly to system costs [42][45] Question: ESA strategy and financing implications - The company is working to ensure that ESAs protect customers while also addressing the unique needs of each data center [60][62] Question: Update on South Dakota plant and environmental upgrades - The South Dakota plant is expected to be completed by 2030, and the company is prepared to invest in environmental upgrades as necessary [78][81] Question: Concerns about merger regulatory delays - Management is confident in the timelines for both South Dakota and Montana, stating that the processes are progressing as expected [94][95]

Financial Data and Key Metrics Changes - The company reported GAAP diluted EPS of $2.94 and non-GAAP diluted EPS of $3.58 for the full year 2025, reflecting a 5.3% growth from 2024 on a non-GAAP basis [7][10][16] - The quarterly dividend was increased by 1.5% to $0.67 per share [7] - The company initiated 2026 earnings guidance in the range of $3.68-$3.83 per share, representing a 5% growth at the midpoint compared to 2025 results [17] Business Line Data and Key Metrics Changes - The improved margin for the fourth quarter was attributed to new rates and regulatory execution, although it was offset by mild weather and higher operating costs [11][12] - Adjusted earnings for the fourth quarter were $1.17, compared to $1.13 in Q4 2024, despite unfavorable weather impacting results [12][16] Market Data and Key Metrics Changes - The company is actively pursuing data center growth opportunities, having signed a third letter of intent for a 500+ MW data center and progressed with another from a letter of intent to a development agreement [4][7] - The company is focusing on large load customers in Montana and South Dakota, with significant interest from data centers in both states [27][28] Company Strategy and Development Direction - The company announced an all-stock merger agreement with Black Hills Corporation, expected to close in the second half of 2026, which aims to enhance scale, position, and growth opportunities [4][21] - The updated five-year capital plan is set at $3.21 billion, a 17% increase over the prior plan, reflecting the inclusion of new projects [17][18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the legislative outcomes in Montana, which support transmission investment and mitigate wildfire-related risks [5][6] - The company is committed to maintaining high credit quality and is focused on self-funding its capital plan while managing equity issuance carefully [19][20] Other Important Information - The company has filed joint requests for merger approval in multiple states and is preparing for hearings expected in the second quarter of 2026 [24] - The company is also addressing environmental concerns related to its Colstrip operations and is prepared to invest in necessary upgrades if required [80][81] Q&A Session Summary Question: Update on large load tariff filing - The company plans to file a large load tariff in sync with a signed ESA, aiming for completion by the end of Q2 2026 [38][40] Question: Education plan for stakeholders regarding data centers - Management highlighted ongoing discussions to educate stakeholders on the benefits of data centers and the importance of a tariff that protects customers [41][44] Question: ESA strategy and financing implications - The company is focused on ensuring that ESAs are aligned with tariffs to protect customers, with plans to file by the first half of 2026 [58][60] Question: Update on South Dakota plant and turbine queue - The company is investing in turbines for the 131 MW plant, expected to be completed by 2030 [76][78] Question: Environmental upgrades at Colstrip - Management indicated readiness to invest in environmental controls if necessary, while maintaining a focus on keeping Colstrip operational [80][81] Question: Concerns about merger regulatory timelines - The company is working with regulators in South Dakota and Montana, expressing confidence in the timelines despite some delays [92][93]

Core Viewpoint - Fortis Inc. demonstrated strong financial and operational performance in 2025, with a focus on reliability, affordability, and disciplined capital execution, leading to solid results and a commitment to long-term value creation [3] Financial Performance - Net earnings for 2025 were reported at $1.7 billion, or $3.40 per common share, an increase from $1.6 billion, or $3.24 per common share in 2024 [4] - Adjusted net earnings per common share rose to $3.53 in 2025 from $3.28 in 2024, reflecting a growth of $151 million or $0.25 per share [5][9] - For Q4 2025, net earnings were $422 million, or $0.83 per common share, compared to $396 million, or $0.79 per common share in Q4 2024 [10] Capital Expenditures and Growth Plans - Fortis announced a five-year capital plan of $28.8 billion, aimed at driving a long-term rate base growth of 7% and supporting annual dividend growth of 4-6% through 2030 [3][20] - Capital expenditures totaled $5.6 billion in 2025, contributing to a midyear rate base of $42.4 billion, representing a 7% growth over 2024 [12][20] Regulatory Updates - The Arizona Corporation Commission approved an Energy Supply Agreement for a planned data center in Tucson Electric Power's service territory, expected to be operational by 2027 [15] - A Recommended Opinion and Order on the UNS Gas General Rate Application suggested an allowed ROE of 9.57% and a 56% common equity component, pending ACC approval [16] Climate Resiliency and Decarbonization Efforts - Fortis released its 2026 Climate Resiliency Report, detailing climate risks and adaptation measures, with a commitment to a coal-free generation mix by 2032 and net-zero emissions by 2050 [17][19] - The company achieved a 38% reduction in scope 1 greenhouse gas emissions through 2025 compared to 2019 levels [19] Outlook and Future Opportunities - The capital plan is expected to increase the midyear rate base to $57.9 billion by 2030, with a compound annual growth rate of 7% [20] - Future growth opportunities include expanding the electric transmission grid, investments in renewable gas and liquefied natural gas infrastructure, and enhancing grid resiliency [21]

Core Viewpoint - Fortis Inc. has declared dividends for its shareholders, highlighting its financial stability and commitment to returning value to investors [2][5]. Group 1: Dividend Declaration - The Board of Directors of Fortis has declared dividends payable on June 1, 2026, to shareholders of record as of May 15, 2026 [2]. - The common share dividend and preference share dividends are designated as eligible dividends for federal and provincial dividend tax credit purposes [2]. Group 2: Company Overview - Fortis is a diversified leader in the North American regulated electric and gas utility industry, with 2024 revenue of CAD 12 billion and total assets of CAD 75 billion as of September 30, 2025 [3]. - The company employs 9,600 individuals and serves utility customers across five Canadian provinces, ten U.S. states, and the Caribbean [3]. - Fortis shares are listed on the TSX and NYSE under the symbol FTS [3]. Group 3: Dividend Amounts - The declared dividends include: - CAD 0.3063 per share on the First Preference Shares, Series "F" - CAD 0.3826875 per share on the First Preference Shares, Series "G" - CAD 0.26144 per share on the First Preference Shares, Series "H" - CAD 0.224630 per share on the First Preference Shares, Series "I" - CAD 0.2969 per share on the First Preference Shares, Series "J" - CAD 0.3418125 per share on the First Preference Shares, Series "K" - CAD 0.3433125 per share on the First Preference Shares, Series "M" - CAD 0.64 per share on the Common Shares [5].

Financial Data and Key Metrics Changes - For Q4 2025, the company reported adjusted earnings of $0.51 per share, an increase from $0.49 in the same period last year [14] - Full-year adjusted EPS for 2025 was $1.90, up from $1.75 in 2024, reflecting strong regulatory execution and cost management [14][15] - The FFO to debt ratio improved to 16.1%, exceeding the targeted range of 14%-16% [21] Business Line Data and Key Metrics Changes - The base utility investment plan includes $21 billion over the next five years, focusing on grid modernization and safety [15] - The Amazon project at GenCo represents a capital investment of $6-$7 billion through 2032, with most falling within the five-year planning window [15] Market Data and Key Metrics Changes - The company is actively engaged in approximately 24 data center projects, reflecting strong demand in Virginia, the data center capital of the world [10] - In Indiana, the Economic Development Team managed over 140 active projects, indicating robust economic development across the service territory [10] Company Strategy and Development Direction - The company aims to deliver safe, reliable, and competitive energy while focusing on disciplined capital deployment and operational excellence [4] - A commitment to customer affordability is highlighted through regulatory and rate design tools that mitigate bill impacts [6] - The company is advancing its data center initiative, with key milestones achieved in zoning approvals and ongoing negotiations for new capacity [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strategic direction and highlighted the potential for significant upside in developing projects supporting data center growth [8][22] - The company anticipates continued growth in adjusted EPS, reaffirming guidance for 2026 at $2.02-$2.07 per share, representing an 8% year-over-year growth [18][22] Other Important Information - The company has maintained ISO 55001 and API 1173 certifications, emphasizing its commitment to safety management [8] - A 7.1% increase in dividends for 2026 was approved, reflecting alignment with earnings growth [20] Q&A Session Summary Question: Update on strategic negotiations for GenCo - Management indicated that the organization is focused on executing data center opportunities, expecting faster execution compared to previous deals like Amazon [26][27] Question: Pennsylvania strategy and rate case considerations - Management confirmed no current plans for a rate case in Pennsylvania, following a recent successful rate case that increased revenue [29] Question: Timing for NIPSCO gas rate case filing - Management stated that no determination has been made regarding a rate case filing for NIPSCO at this time [32] Question: Scale of future GenCo opportunities - Management noted that they are in strategic negotiations for 1-3 GW, with various sizes and shapes of contracts being considered [33] Question: Impact of Senate Bill 103 on large load customer opportunities in Ohio - Management is working on optimizing regulatory strategies based on recent legislative changes, but no upside from economic development has been incorporated into current forecasts [35] Question: Update on Schahfer coal plant operations - Management confirmed that they will comply with federal orders regarding the Schahfer plant and are prepared to operate it reliably [39] Question: Coordination between electric and gas operations - Management highlighted ongoing efforts to improve coordination between gas and electric operations across the U.S. for better reliability [41] Question: Future reporting for GenCo - Management anticipates breaking out GenCo as its own segment in future financial reports, likely starting in 2026 [43]

Financial Data and Key Metrics Changes - For Q4 2025, the company reported adjusted earnings of $0.51 per share, an increase from $0.49 in the same period last year [14] - Full-year adjusted earnings were $1.90 per share compared to $1.75 in 2024, reflecting strong financial management and regulatory execution [14] - The company achieved a Funds From Operations (FFO) to Debt ratio of 16.1%, exceeding the targeted guidance range and up 150 basis points from the previous year [21] Business Line Data and Key Metrics Changes - The base business continues to perform well, with a full-year adjusted EPS of $1.90 and FFO to debt of 16.1%, both surpassing guidance [5][14] - The capital plan includes $21 billion of base utility investment over the next five years, focusing on grid modernization and safety [15] - The Amazon project at GenCo represents a significant capital investment of $6-$7 billion through 2032, aligning cash inflows with customer ramp rates [15] Market Data and Key Metrics Changes - The company is actively engaged in approximately 24 data center projects, reflecting strong demand in Virginia, which is noted as the data center capital of the world [10] - In Indiana, the Economic Development Team managed over 140 active projects, indicating robust economic development across the service territory [10] Company Strategy and Development Direction - The company aims to deliver safe, reliable, and competitive energy while focusing on disciplined capital deployment and operational excellence [4] - A commitment to customer affordability is highlighted through regulatory and rate design tools that mitigate bill impacts [6] - The company is advancing its data center initiative, with key milestones achieved, including zoning approvals for the Amazon project [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strategic direction and highlighted the importance of regulatory support in achieving financial commitments [20] - The company anticipates continued growth in adjusted EPS, reaffirming guidance for 2026 at $2.02-$2.07 per share, representing approximately 8% year-over-year growth [18] - Management noted that significant upside remains in developing projects supporting data center growth and economic development [8] Other Important Information - The company has maintained ISO 55001 and API 1173 certifications, underscoring its commitment to safety management [8] - A 7.1% increase in dividends for 2026 was approved, reflecting the company's commitment to aligning dividend growth with earnings growth [20] Q&A Session Summary Question: What should investors look for regarding GenCo's progress? - Management indicated that a dedicated team is focused on executing data center opportunities, suggesting faster execution for future transactions compared to the Amazon deal [25][27] Question: How is the Pennsylvania strategy being considered? - Management stated that there are no current plans for a rate case in Pennsylvania, following a recent successful rate case that increased revenue [29] Question: What is the status of the NIPSCO gas rate case filing? - Management confirmed that no determination has been made to file for a rate case at this time, considering various factors [32] Question: What is the significance of Senate Bill 103 for large load customer opportunities in Ohio? - Management noted that they are working on optimizing regulatory strategies based on recent legislative changes, but no upside from economic development has been incorporated into the current forecasts [36] Question: What is the plan for the Schahfer coal plant? - Management confirmed that they will comply with federal orders to operate the Schahfer plant beyond its planned retirement, with flexibility in the capital plan to accommodate this [40]

Core Viewpoint - WEC Energy Group, Inc. is a significant player in the regulated natural gas and electric service market, with a market cap of $36.7 billion, and operates across several U.S. states, providing a mix of energy solutions [1] Performance Summary - Over the past 52 weeks, WEC stock has risen 11.6%, underperforming the S&P 500 Index, which increased by 14.4%. However, on a year-to-date basis, WEC shares are up 7.1%, outperforming the S&P 500's 1.4% gain [2] - The company's stock has slightly lagged behind the State Street Utilities Select Sector SPDR ETF, which returned 11.9% over the same period [3] Financial Performance - In Q4 2025, WEC Energy reported adjusted EPS of $1.42 and revenue of $2.54 billion, beating expectations. However, shares fell 1.2% due to a significant year-over-year decline in GAAP earnings, which dropped to $316.6 million ($0.97 per share) from $453.5 million ($1.43 per share) in Q4 2024, primarily due to an Illinois settlement charge [5] - For the fiscal year ending in December 2026, analysts project WEC's adjusted EPS to grow by 6.3% year-over-year to $5.60. The company has a strong earnings surprise history, beating consensus estimates in the last four quarters [6] Analyst Ratings and Price Targets - The consensus rating among 19 analysts covering WEC is a "Moderate Buy," consisting of eight "Strong Buy" ratings, 10 "Holds," and one "Strong Sell" [6] - TD Cowen analyst Shelby Tucker reiterated a "Hold" rating on WEC and maintained a price target of $125. The mean price target of $121.26 suggests a premium of 7.4% to current levels, while the highest price target of $140 indicates a potential upside of nearly 24% [7]

Q4 2025 Financial Results and Strategic Update February 10, 2026 Forward-Looking Statements and Use of Non-GAAP Measures This presentation contains "forward-looking statements" including within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included in this presentation are forward-looking statements. These forward-looking statements include statements regarding Unitil Corporation and its subsidiari ...