Plug Power, Boardwalk Pipeline Partners, Tesla, Honda and General Motors highlighted as Zacks Bull and Bear of the Day
CHICAGO, April 11, 2014 /PRNewswire/ -- Zacks Equity Research highlights Plug Power (Nasdaq: PLUG-Free Report) as the Bull of the Day and Boardwalk Pipeline Partners (NYSE: BWP-Free Report) as the Bear of the Day. In addition, Zacks Equity Research provides analysis onTesla (Nasdaq: TSLA-Free Report), Honda (NYSE: HMC-Free Report) and General Motors (NYSE: GM-Free Report).
Here is a synopsis of all five stocks:
Plug Power (Nasdaq: PLUG-Free Report) has seen an explosion of volume over the last month as speculation of its fuel cell technology will be used in all type of cars. Along with that volume increase there has been an increase in volatility as the stock has moved in dramatic fashion. Today, it is a Zacks Rank #1 (Strong Buy) stock and is the Bull of the Day.
Not too long ago, Tesla (Nasdaq: TSLA-Free Report) announced plans to build what they call a Gigafactory. The Gigafactory is designed to reduce cell costs much faster than the status quo and, by 2020, produce more lithium ion batteries annually than were produced worldwide in 2013. The instant read through on this is that demand is moving higher for fuel cells.
Plug Power is an alternative energy technology provider working with fuel cell systems for the industrial off-road markets worldwide. Plug Power Inc. was founded in 1997 and is headquartered in Latham, New York.
Boardwalk Pipeline Partners (NYSE: BWP-Free Report) was hit for a 44% drawdown after its last earnings report on February 10, 2014. The stock was crushed down to the low teens and analysts lowered estimates. Today, it is a Zacks Rank #5 (Strong Sell) stock and is the Bear of the Day.
The big reason for the 44% one day drop in share prices came as the company cut its dividend payout from $0.5325 to $0.10. The company noted that this would help strengthen is balance sheet and would help to avoid issuing new units.
A drop of 78% in net income was the primary reason for the dividend reduction.
Boardwalk Pipeline Partners owns and operates three interstate natural gas pipeline systems including integrated storage facilities. The company also owns approximately 255 miles of NGLs pipelines serving customers in Louisiana. In addition, it has underground storage caverns having aggregate capacity of approximately 207.0 billion cubic feet of working natural gas and 17.6 million barrels of NGLs.
The company serves customers, including producers of natural gas, local distribution companies, marketers, electric power generators, industrial users, and interstate and intrastate pipelines. It is headquartered in Houston, Texas.
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