Earnings Presentation צבע טקסט כותרת 1 Legal disclaimer This presentation contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements contained in this presentatio ...

Vantage segment1548C—162135(25)G613323J(6)Energy Trading segment123(12)D3114125(34)D9100Non- utility operations277(4)3276260(36)9233Corporate and Other(268)14E(258)(185)——(185)16F(27)G7Net IncomeAttributable toDTE Energy Company$ 1,462$ 49$ 19$ 1,530$ 1,404$ 16$ (4)$ 1,416(1) Excluding tax related adjustments, the amount of income taxes was calculated based on a combined federal and state income tax rate, considering the applicablejurisdictions of the respective segments and deductibility of specific operat ...

Core Viewpoint - Constellation Energy is expected to report its fourth-quarter and full-year financial results soon, likely before February 20, which may present an investment opportunity if strong guidance is provided [1][8]. Financial Performance - In the last earnings report on November 7, Constellation Energy reported adjusted operating earnings of $3.04 per share, an increase from $2.74 per share year-over-year [3]. - The company narrowed its full-year guidance, projecting adjusted earnings per share of $9.05 to $9.45 for 2025, with an expectation of fourth-quarter earnings between $3.03 and $3.43 per share [3]. Market Data - The current stock price of Constellation Energy is $12.25, with a market capitalization of $90 billion [4]. - The stock has experienced a 4.44% increase recently, but has faced a decline over the past few months despite positive earnings and expansion initiatives [5][8]. Strategic Developments - Constellation Energy completed a significant $26.6 billion acquisition of Calpine, enhancing its position as a diversified power producer by combining its nuclear fleet with Calpine's natural gas and geothermal assets [5]. - The company has secured a 380-megawatt agreement with CyrusOne for a new data center, contributing to a total of 1.1 gigawatts of power agreements between the two [6]. - The U.S. Nuclear Regulatory Commission approved license amendments and renewals for several clean energy centers, allowing for over $500 million in investments to modernize these facilities [7]. Investment Outlook - Despite recent stock price declines, the company is well-positioned to capitalize on increasing power demand from data centers, making it a potentially attractive investment before the earnings report [9].

Core Viewpoint - Constellation Energy's stock has recently declined due to regulatory discussions on emergency auctions and price caps in its key market, despite its strong position as a wholesale energy seller benefiting from rising prices [1][2][6]. Group 1: Stock Performance and Market Position - Constellation Energy's stock price has fallen to under $290 per share, down 32% from its 52-week high of $412.70, and currently trades at a forward price-to-earnings ratio of 24.4, down from 43.1 [2][11]. - The company has a market capitalization of $90 billion and operates in a highly competitive power market, particularly in the PJM Interconnection region [2][5]. Group 2: Regulatory Impact - Recent regulatory proposals include caps on electricity rates in the Mid-Atlantic market, which could limit the upside for wholesale power producers like Constellation [2][6]. - Lawmakers have encouraged PJM to conduct a one-time emergency auction for new baseload power generation, which may affect Constellation's revenue potential from future auctions [4][6]. Group 3: Strategic Initiatives - Constellation has successfully cleared all its PJM capacity in the recent 2027-2028 auction, generating revenue at a clearing price of $333.44 per megawatt-day [8]. - The company is signing long-term, fixed-price power purchase agreements (PPAs) with major tech companies like Microsoft and Meta Platforms, which helps to lock in revenue and mitigate market volatility [9][10].

Core Viewpoint - UBS maintains a Neutral rating for Eversource Energy and raises the price target from $75 to $80, reflecting confidence in the company's future performance [2][5] Financial Performance - Eversource reported earnings of $1.69 billion, or $4.56 per share for 2025, a significant increase from 2024's earnings of $811.7 million, or $2.27 per share [2][5] - The company's non-GAAP recurring earnings for 2025 were $1.77 billion, or $4.76 per share, indicating strong operational performance [3][5] Stock Performance - The stock price has risen by $3.04, a 4.32% increase, with a current trading range between $70.59 and $74.13 [3] - Over the past year, Eversource's stock reached a high of $75.25 and a low of $52.28, with a market capitalization of approximately $27.52 billion and a trading volume of 4,278,991 shares [4]

Core Viewpoint - NextEra Energy (NEE) has shown strong performance with a 12.2% increase in share price over the past month, outperforming the Zacks Utility - Electric Power industry and the broader market [1][9]. Financial Performance - NEE's share price increase is attributed to solid operational performance and an expanding customer base, leading to higher demand for its services [2]. - The company plans to invest approximately $94.2 billion from 2026 to 2030, with $58.6 billion allocated to its Florida Power & Light (FPL) segment and $35.6 billion to the Energy Resource segment [12][9]. - Earnings per share (EPS) for 2026 is projected to be between $3.92 and $4.02, with expected annual growth of 8% through 2032 [15]. Market Position - NEE is currently trading above its 50 and 200-day simple moving averages, indicating a bullish trend [7]. - The company's trailing 12-month return on equity (ROE) stands at 12.18%, surpassing the industry average of 10.7%, indicating efficient use of shareholders' equity [19]. Dividend Policy - NEE has raised its quarterly dividend to 62.32 cents per share, with plans to increase the dividend rate by 10% annually at least through 2026 [22]. Strategic Initiatives - The company is pursuing strategic acquisitions, including the acquisition of Symmetry Energy Solutions and a portion of Consolidated Edison's interest in the Mountain Valley Pipeline, to enhance its operational capabilities [13]. - NEE's Energy Resources subsidiary is focused on long-term investments in clean energy, with a renewable backlog exceeding 29.8 gigawatts [14]. Economic Environment - Florida's expanding economy, characterized by strong job growth and population inflows, is driving higher electricity demand, benefiting NEE's operations [11].

Key Takeaways EIX's Q4 EPS is projected to rise 40% year over year on solid revenue growth.SCE will reflect higher 2025 base revenues and start $902M retroactive recovery.Edison International's revenues expected to rise 9.9%, though higher operating costs may offset gains.Edison International (EIX) is scheduled to release fourth-quarter 2025 results on Feb. 18, after market close. The company delivered an earnings surprise of 8.3% in the last reported quarter. Let’s discuss the factors that are likely to be ...

Core Insights - The joint venture between Transource Energy and FirstEnergy Transmission has received approval for a major electric transmission project in central Ohio, aimed at enhancing grid capacity and reliability in the Columbus region [1] - The project will involve approximately 300 miles of new 765-kilovolt (kV) lines and upgrades to substations, significantly increasing service reliability and supporting economic growth [1] - The initiative is part of PJM's 2025 Regional Transmission Expansion Plan and is expected to address rising electricity demand due to economic growth and the increasing number of manufacturing facilities and data centers in the area [1] Company Overview - Transource Energy is a partnership between American Electric Power (AEP) and Evergy, focusing on competitive electric transmission projects across the U.S., with AEP owning 86.5% and Evergy 13.5% of Transource [1] - AEP plans to invest $72 billion from 2026 to 2030 to enhance service and support growing energy needs, operating the largest electric transmission system in the nation with approximately 40,000 line miles [1] - FirstEnergy Transmission, jointly owned by FirstEnergy Corp. and Brookfield Super-Core Infrastructure Partners, operates approximately 24,000 miles of transmission lines, serving over six million customers across several states [1]

Analysts predict a 22.4% decline in EPS to $0.52 for Q4 2025, despite a projected 2% revenue increase to $3.24 billion.Stability in EPS estimates over the past 30 days highlights analyst confidence, potentially impacting short-term stock performance.Financial metrics reveal a P/E ratio of 21.85 and a debt-to-equity ratio of 2.15, indicating market favorability but significant leverage.FirstEnergy Corporation (NYSE:FE) is set to release its fourth-quarter 2025 earnings on February 17, 2026. Analysts predict ...

This midwestern utility will be in the spotlight when it reports Q4 results later this week.To some, a midwestern power company might sound boring. However, Evergy (EVRG +2.45%) is anything but boring. Thanks to a boom in data center construction in Kansas and Missouri, this electric utility stock has been a solid winner over the last 12 months.Evergy is scheduled to announce its 2025 fourth-quarter and full-year results later this week. Should you buy the stock before Feb. 19?NASDAQ : EVRGEvergyToday's Cha ...