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Recommendations
ACP cancellation negative for mainline pipeline industry overall, says Stifel » 14:23
07/06/20
07/06
14:23
07/06/20
14:23
PWR

Quanta Services

$38.94 /

+0.07 (+0.18%)

, D

Dominion

$75.03 /

-7.65 (-9.25%)

, DUK

Duke Energy

$79.91 /

-1.93 (-2.36%)

, PRIM

Primoris

$17.01 /

-0.535 (-3.05%)

After Dominion Energy (D)…

After Dominion Energy (D) and Duke Energy (DUK) announced the cancelation of the Atlantic Coast Pipeline, or ACP, Stifel analyst Noelle Dilts noted that the project had been awarded to a consortium of contractors including Quanta Services (PWR) and Primoris Services (PRIM) and that the project has not been included in either company's guidance or analyst estimates due to the uncertainty regarding its path forward. Dilts noted that the project was viewed as upside potential for both companies, but this has now been removed, and she views the new development as a negative for the pipeline industry overall. The analyst has a Buy rating on Quanta Services, noting that the development has no direct impact to her estimates on Quanta.

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PWR Quanta Services
$38.94 /

+0.07 (+0.18%)

PRIM Primoris
$17.01 /

-0.535 (-3.05%)

DUK Duke Energy
$79.91 /

-1.93 (-2.36%)

D Dominion
$75.03 /

-7.65 (-9.25%)

PWR Quanta Services
$38.94 /

+0.07 (+0.18%)

06/23/20 Stifel
Quanta Services price target raised to $50 from $46 at Stifel
05/28/20 Northland
Quanta Services initiated with an Outperform at Northland
05/18/20 Citi
Quanta Services remains top Engineering & Construction pick at Citi
04/27/20 Citi
KBR upgraded to Buy from Neutral at Citi
D Dominion
$75.03 /

-7.65 (-9.25%)

07/06/20 JPMorgan
EQT could benefit from pipeline cancellation, says JPMorgan
07/06/20 JPMorgan
Dominion now positioned as 'best-in-class' utility, says JPMorgan
07/06/20 Guggenheim
Guggenheim 'loves' Dominion gas transmission sale, decision to scrap pipeline
06/09/20 Seaport Global
Dominion initiated with a Buy at Seaport Global
DUK Duke Energy
$79.91 /

-1.93 (-2.36%)

06/09/20 Seaport Global
Duke Energy initiated with a Neutral at Seaport Global
05/20/20 Wells Fargo
Duke Energy price target lowered to $88 from $108 at Wells Fargo
PRIM Primoris
$17.01 /

-0.535 (-3.05%)

07/11/19 DA Davidson
DA Davidson reduces Q2 earnings estimate on Primoris due to Midwest weather
PWR Quanta Services
$38.94 /

+0.07 (+0.18%)

PRIM Primoris
$17.01 /

-0.535 (-3.05%)

DUK Duke Energy
$79.91 /

-1.93 (-2.36%)

D Dominion
$75.03 /

-7.65 (-9.25%)

  • 19
    Nov
PWR Quanta Services
$38.94 /

+0.07 (+0.18%)

D Dominion
$75.03 /

-7.65 (-9.25%)

PWR Quanta Services
$38.94 /

+0.07 (+0.18%)

D Dominion
$75.03 /

-7.65 (-9.25%)

PWR Quanta Services
$38.94 /

+0.07 (+0.18%)

DUK Duke Energy
$79.91 /

-1.93 (-2.36%)

D Dominion
$75.03 /

-7.65 (-9.25%)

Hot Stocks
Primoris announces pipeline award valued over $100M » 07:56
07/01/20
07/01
07:56
07/01/20
07:56
PRIM

Primoris

$17.75 /

+0.23 (+1.31%)

Primoris Services…

Primoris Services Corporation announced a new pipeline award valued over $100M. The contract was secured by the Pipeline & Underground segment. This award was signed in the second quarter of 2020. The award is for the installation of over 80,000 feet of various diameter pipeline in Texas. Work is scheduled to commence in the third quarter of 2020, and completion is expected in the second quarter of 2021.

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PRIM Primoris
$17.75 /

+0.23 (+1.31%)

PRIM Primoris
$17.75 /

+0.23 (+1.31%)

07/11/19 DA Davidson
DA Davidson reduces Q2 earnings estimate on Primoris due to Midwest weather
PRIM Primoris
$17.75 /

+0.23 (+1.31%)

Hot Stocks
Primoris announces heavy civil award valued over $55M » 07:31
06/25/20
06/25
07:31
06/25/20
07:31
PRIM

Primoris

$16.61 /

-0.45 (-2.64%)

Primoris Services…

Primoris Services Corporation announced a new heavy civil award valued over $55M. The contract was secured by the Civil segment. The project was awarded by the United States Army Corps of Engineers and is located in southeastern Louisiana. The project involves excavating a flood control channel across a four-lane highway and railroad track and building three bridges to span the new channel. Work is scheduled to commence in the second quarter of 2020, and completion is expected in the fourth quarter of 2021.

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PRIM Primoris
$16.61 /

-0.45 (-2.64%)

PRIM Primoris
$16.61 /

-0.45 (-2.64%)

07/11/19 DA Davidson
DA Davidson reduces Q2 earnings estimate on Primoris due to Midwest weather
PRIM Primoris
$16.61 /

-0.45 (-2.64%)

Hot Stocks
Primoris announces solar award valued over $95M » 07:41
06/24/20
06/24
07:41
06/24/20
07:41
PRIM

Primoris

$17.06 /

-0.06 (-0.35%)

Primoris Services…

Primoris Services Corporation announced a new solar award valued over $95M. The contract was secured by the Power, Industrial, & Engineering segment. The award is for the engineering, procurement, and construction of a utility-scale solar facility in the Southwest. The $95M award value excludes approximately $10M previously announced as a Limited Notice to Proceed on June 1. Work will commence in the third quarter of 2020, and completion is expected by the end of 2021.

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PRIM Primoris
$17.06 /

-0.06 (-0.35%)

PRIM Primoris
$17.06 /

-0.06 (-0.35%)

07/11/19 DA Davidson
DA Davidson reduces Q2 earnings estimate on Primoris due to Midwest weather
PRIM Primoris
$17.06 /

-0.06 (-0.35%)

Hot Stocks
Primoris announces solar award valued over $155M » 07:43
06/18/20
06/18
07:43
06/18/20
07:43
PRIM

Primoris

$17.53 /

-0.64 (-3.52%)

Primoris Services…

Primoris Services announced a new solar award valued over $155M. The contract was secured by the Power, Industrial, & Engineering segment. The award is for the engineering, procurement, and construction of a utility-scale solar facility in the Southwest. The scope of work includes foundations, electrical, mechanical, and civil construction. Work to support the initial engineering, site investigation, long lead procurement, and cost optimization commenced in the first quarter of 2020, with project completion expected in the fourth quarter of 2021.

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PRIM Primoris
$17.53 /

-0.64 (-3.52%)

PRIM Primoris
$17.53 /

-0.64 (-3.52%)

07/11/19 DA Davidson
DA Davidson reduces Q2 earnings estimate on Primoris due to Midwest weather
PRIM Primoris
$17.53 /

-0.64 (-3.52%)

Hot Stocks
Primoris announces utility award valued over $60M » 07:42
06/17/20
06/17
07:42
06/17/20
07:42
PRIM

Primoris

$18.17 /

+1.45 (+8.67%)

Primoris Services…

Primoris Services Corporation announced the renewal of a Master Service Agreement with a major utility customer with a five-year anticipated value of $60M. The contract was secured by the Utilities & Distribution segment. The award is for the design of natural gas and electric distribution systems in the Western and Midwest regions of the U.S. It is estimated that the MSA will generate approximately $12 million per year over the course of the contract. While the agreement does not obligate the customer to award Primoris a specific dollar amount, our discussions and history with the customer form the basis for our anticipated value.

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PRIM Primoris
$18.17 /

+1.45 (+8.67%)

PRIM Primoris
$18.17 /

+1.45 (+8.67%)

07/11/19 DA Davidson
DA Davidson reduces Q2 earnings estimate on Primoris due to Midwest weather
PRIM Primoris
$18.17 /

+1.45 (+8.67%)

Over a month ago
Hot Stocks
Primoris announces utility award valued over $45M » 07:39
06/11/20
06/11
07:39
06/11/20
07:39
PRIM

Primoris

$17.25 /

-1.12 (-6.10%)

Primoris Services…

Primoris Services Corporation announced three new utility awards valued over $45M. The contracts were secured by ARB Underground, part of the Utilities & Distribution segment. The awards are for four miles of gas pipe replacement work in Southern California and power line replacement work in Northern California. Work is scheduled to commence in the second quarter of 2020, and completion is expected in the second quarter of 2021.

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PRIM Primoris
$17.25 /

-1.12 (-6.10%)

PRIM Primoris
$17.25 /

-1.12 (-6.10%)

07/11/19 DA Davidson
DA Davidson reduces Q2 earnings estimate on Primoris due to Midwest weather
PRIM Primoris
$17.25 /

-1.12 (-6.10%)

Hot Stocks
Primoris announces solar award with initial value of $10M » 07:38
06/01/20
06/01
07:38
06/01/20
07:38
PRIM

Primoris

$16.71 /

+0.03 (+0.18%)

Primoris Services…

Primoris Services Corporation announced the award of a Limited Notice to Proceed for a new solar project with an initial value of $10M and an anticipated final contract value of over $100M. The contract was secured by Primoris Renewable Energy, part of the Power, Industrial, & Engineering segment. The LNTP is for the initial engineering work on a utility-scale solar facility in the Southwest. It is very typical for clients in the solar industry to issue LNTPs to support initial engineering, site investigation, long lead procurement items, and cost optimization activities at the beginning of utility-scale projects. Historically, Primoris' LNTPs for solar projects have resulted in contracts for the execution of the entire project. We should note that Primoris has only taken the value of the LNTP into backlog and will not place the entire contract value into backlog until the final contract is fully executed. The initial phase of work will commence in the third quarter of 2020. It is anticipated that construction on the entire project will be completed in the third quarter of 2021.

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PRIM Primoris
$16.71 /

+0.03 (+0.18%)

PRIM Primoris
$16.71 /

+0.03 (+0.18%)

07/11/19 DA Davidson
DA Davidson reduces Q2 earnings estimate on Primoris due to Midwest weather
PRIM Primoris
$16.71 /

+0.03 (+0.18%)

Hot Stocks
Primoris announces industrial awards valued over $62M » 07:33
05/20/20
05/20
07:33
05/20/20
07:33
PRIM

Primoris

$14.34 /

-0.37 (-2.52%)

Primoris Services…

Primoris Services Corporation announced two new industrial awards with a combined value over $62M. The contracts were secured by Primoris Industrial Constructors, part of the Power, Industrial, and Engineering segment. The first award is for the construction of the outside the battery limits portion of a renewable diesel expansion project in Louisiana. The scope includes civil, mechanical, structural, and electrical work. The project was designed by Primoris Design & Construction under a separate contract, and Primoris Industrial Constructors will coordinate with Primoris Design & Construction to ensure an efficient engineering and construction interface. Work is scheduled to commence in the second quarter of 2020, and completion is expected in the third quarter of 2021. The second award is for the civil portion of an air separation unit and partial oxidation plant expansion project in Texas. The plant expansion will help lower the existing plant's NOx and CO2 emissions. The scope includes foundations, underground piping, and a grounding grid. Work is scheduled to commence in the second quarter of 2020, and completion is expected in the third quarter of 2020.

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PRIM Primoris
$14.34 /

-0.37 (-2.52%)

PRIM Primoris
$14.34 /

-0.37 (-2.52%)

07/11/19 DA Davidson
DA Davidson reduces Q2 earnings estimate on Primoris due to Midwest weather
PRIM Primoris
$14.34 /

-0.37 (-2.52%)

Hot Stocks
Primoris announces industrial award valued over $200M » 08:00
05/11/20
05/11
08:00
05/11/20
08:00
PRIM

Primoris

$14.84 /

+0.51 (+3.56%)

Primoris Services…

Primoris Services announced a new industrial award valued over $200 million. The contract was secured by ARB Industrial, part of the Power, Industrial, and Engineering segment. The award is for the engineering, procurement and construction of a renewable fuels facility in Bakersfield, California. The retooled facility will produce renewable diesel from organic feedstocks such as vegetable oils. Fuel produced at the facility will be available to be blended into transportation fuel, reducing overall greenhouse gas emissions. The scope includes upgrades to the existing facility as well as civil, mechanical, structural, and electrical work. Other activities include balance of plant engineering and some procurement. ARB Industrial is partnering with OnQuest and Primoris Design & Construction to perform certain engineering scope. The initial phase of work and mobilization has commenced and the entire project is anticipated to be completed in the third quarter of 2022.

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PRIM Primoris
$14.84 /

+0.51 (+3.56%)

07/11/19 DA Davidson
DA Davidson reduces Q2 earnings estimate on Primoris due to Midwest weather

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