EnerNOC is a provider of clean and intelligent energy solutions including demand response services, energy efficiency, or monitoring-based commissioning services, energy procurement services, and emissions tracking and trading support services. At the end of the third quarter, the company boosted its commercial, institutional, and industrial demand response network to more than 5,100 megawatts under management, across more than 3,500 customers at 8,200 sites.
The company recently entered into a definitive agreement to acquire Global Energy Partners, an industry leader in designing and implementing utility energy efficiency and demand response programs, in order to expand its target market. EnerNOC also announced its participation in the U.K. Power Networks' Low Carbon London project to help the U.K. achieve its goal of moving to a low-carbon energy future. The partnership will run for three years starting this month.
JPMorgan favors ENOC as a long-term position because of the company's high-growth business model.
The EnerNOC model uses network operating centers to provide energy management and efficiency solutions for grid operators, utilities, and large companies. Generally, utilities invest in excess capacity to handle unusual demand spikes. The International Energy Association believes that load sharing with other utilities helps these companies save a huge sum of money, thereby cutting the need for additional power plants. Through this cost containment, utilities worldwide will save almost $60 billion in the upcoming 20 years.The company is well-positioned in the demand response market as it plans to launch two additional demand response products offering higher availability, enabling greater market penetration. Of the 27 analysts covering the stock, 63% recommend a buy with a target price of $35.80, implying an upside of 49% from current levels. Meanwhile, 33% of analysts recommend a hold.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV