5 Stocks Slump to 52-Week Lows: EXC, ACI, NRG, CLD, PVA

NEW YORK ( TheStreet) -- Shares of the following stocks fell to 52-week lows on Monday: Exelon ( EXC), Arch Coal ( ACI), NRG Energy ( NRG), Cloud Peak Energy ( CLD) and Penn Virginia ( PVA).

Exelon

"Antelope valley Solar Ranch One is a 230MW (AC) project FSLR has sold to Exelon (PPA with PG&E)," Credit Suisse analysts wrote in an April 5 report. "On Feb 9, FSLR had indicated in an 8-K that FSLR and Exelon had extended a deadline for initial funding of the DoE loan to Feb 24, 2012 (for AVSR). In the event the funding did not close by Feb 24, FSLR would have been required to repurchase AVSR plus $75mm and cover additional costs incurred by Exelon. On Feb 23, FSLR filed another 8K noting that FSLR/Exelon have extended the deadline to Apr 6, 2012. Given that the first advance of the loan has closed today (Apr 5), and FSLR and Exelon jointly note that they have 'finalized' the transfer of ownership to Exelon, this reduces the risk to AVSR revenue and earnings contribution in 2012 to our model."

Shares of Exelon dropped to a 52-week low on Monday of $38.15. The stock's 52-week high of $45.45 was set on Nov. 9.

Exelon has an estimated price-to-earnings 13.12 times; the average for conventional electricity companies is 30.59.. For comparison, Southern ( SO) and Dominion Resources ( D) both have higher forward P/Es of 15.91 and 14.9, respectively.

Fifteen of the 21 analysts who cover Exelon rated it hold; six analysts gave the stock a buy rating.

TheStreet Ratings gives Exelon a C+ grade and hold rating. The stock has fallen 11.74% year to date.

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Arch Coal

"We are lowering our earnings per share and earnings before interest, taxes, depreciation and amortization estimates for ACI due to lower met coal prices, higher costs, and a reduced met and thermal volume outlook," Davenport analysts wrote in a March 22 report. "Our EPS estimates fall to $0.35 in 2012 (from $1.01) and $0.85 in 2013 (from $1.30). Our EBITDA estimates fall to $945MM in 2012 (from $1.10B) and $1.11B in 2013 (from $1.24B)."

Shares of Arch Coal reached a 52-week low Monday of $9.95. The stock's 52-week high of $35.06 was set on May 2.

Arch Coal's forward P/E is 9.29; the average for coal companies is 13.23. For comparison, Peabody Energy ( BTU) has a lower forward P/E of 6.63.

Sixteen of the 30 analysts who cover Arch Coal rated it hold. Eleven analysts gave the stock a buy rating and three rated it sell.

TheStreet Ratings gives Arch Coal a C grade and hold rating. The stock has fallen 30.74% year to date.


NRG Energy

"We believe the current low gas price environment is overshadowing continued bullish pricing signals in Texas, where NRG is the state's second largest generator," Bank of America Merrill Lynch analysts wrote in a March 13 report. "Unlike CPN, which is a pureplay spark spread and more sensitive to 5x16 power prices which have recently improved, we think 7x24 prices will eventually rebound once natural gas prices stabilize and benefit NRG. In addition, despite its greater hedge position we note NRG's disclosures as of 2/14/2012 indicate that a 1,000 btu/KWh change in heat rates results in $146 MM increase in 2014 EBITDA."

Shares of NRG Energy hit a 52-week low Monday of $14.88. The stock's 52-week high of $25.66 was set on July 25.

NRG Energy's forward P/E is 451.52; the average for conventional electricity companies is 30.91. For comparison, Nextera Energy ( NEE) has a lower forward P/E of 12.62.

Eight of the 14 analysts who cover NRG Energy rated it buy. Five analysts gave the stock a hold rating and one rated it sell. The stock has fallen 3.87% year to date.

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Cloud Peak Energy

"BMO Research recommends contrarian energy investors look into Cloud Peak," BMO Capital Markets analysts wrote in a March 8 report. "Cloud Peak has an attractive coal contract position with 94% of FY2012 production priced at $13.47/t and approximately 60% of FY2013 production priced at US$14.27/t. In addition, Cloud expects to sell ~4.5Mt to the export market via Westshore Terminals in Vancouver; just 4% of volumes, but at very attractive margins given strong thermal coal pricing in the Pacific Basin."

Shares of Cloud Peak Energy hit a 52-week low Monday of $14.75. The stock's 52-week high of $24.34 was set on Oct. 28.

Cloud Peak Energy's forward P/E is 7.06; the average for coal companies is 13.24. For comparison, Walter Energy ( WLT) has a higher forward P/E of 8.08.

Ten of the 19 analysts who cover Cloud Peak Energy rated it buy. Eight analysts gave the stock a hold rating and one rated it sell.

TheStreet Ratings gives Cloud Peak Energy a C grade and hold rating. The stock has fallen 21.07% year to date.


Penn Virginia

"PVA continues to face funding concerns, which is causing it to slow down the core Eagle Ford program (dropping to 2 rigs from 3 rigs) and also preventing PVA from extending its asset base into liquids-rich plays (Mississippian Lime)," Credit Suisse analysts wrote in a March 2 report. "While we believe PVA will be able to close the projected funding gap of about $125MM for 2012 at the current futures strip with its approximately $190MM of liquidity ( about $7MM cash and $183MM available on its revolver), the company will be limited in its ability to drive growth and returns."

Shares of Penn Virginia dropped to a 52-week low of $4.06 on Monday. The stock's 52-week high of $15.96 was set on April 11.

Analysts were split on Penn Virginia with seven giving the stock a buy rating and another seven rating it hold.

TheStreet Ratings gives Penn Virginia a D grade and sell rating. The stock has fallen 22.68% year to date.

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-- Written by Alexandra Zendrian

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