The Zacks Analyst Blog Highlights: AT&T, Verizon Communications, Atlantic Tele-Network, Leap Wireless International and DTE Energy
CHICAGO, Sept. 12, 2013 /PRNewswire/ -- Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include the AT&T Inc. (NYSE:T-Free Report), Verizon Communications Inc. (NYSE:VZ-Free Report), Atlantic Tele-Network Inc. (Nasdaq:ATNI-Free Report), Leap Wireless International (Nasdaq:LEAP-Free Report) and DTE Energy Company (NYSE:DTE-Free Report).
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Here are highlights from Wednesday's Analyst Blog:
AT&T Closes Verizon Spectrum Buyout
AT&T Inc. (NYSE:T-Free Report) recently announced that it has closed the acquisition of airwaves from Verizon Communications Inc. (NYSE:VZ-Free Report) for $1.9 billion. Under this transaction, the company received spectrum in the 700 MHz B band. The purchase will bolster the company's network capacity in 18 states across the U.S covering a population of 42 million.
Apart from the cash consideration, Verizon received Advanced Wireless Services (AWS) spectrum licenses from AT&T in areas like Phoenix, AZ.; Los Angeles and Fresno, CA; Albuquerque, NM; and Portland, OR. The deal went through Federal Communications Commission (FCC) approval last week.
AT&T also plans to acquire spectrum from Atlantic Tele-Network Inc. (Nasdaq:ATNI-Free Report) for $780 million. Further, the company is likely to take over the largest prepaid wireless operator in the U.S. –Leap Wireless International (Nasdaq:LEAP-Free Report) – for $1.2 billion.
This acquisition will also give AT&T control over Leap's spectrum in the PCS and AWS bands covering 137 million people, thereby enhancing the spectrum base of the former. AT&T plans to use the unutilized spectrum of Leap to expand its 4G LTE deployment, rendering more capacity, better network connectivity and increased mobile Internet usage.
AT&T's LTE network serves as the benchmark of mobile technology and the life-blood for operators across the world. The company is running ahead of schedule to deploy 4G Long-Term Evolution (LTE) services. The company currently covers about 225 million users with its services and expects to connect 270 million people by 2013 end.
Given the accelerated rate of investment in network build-out and spectrum acquisition, we believe AT&T is likely to remain successful in its LTE growth goals, leading to higher revenues and improved earnings per share.
Currently, AT&T retains a Zacks Rank #3 (Hold).
DTE Gets Nod to Buy Wind Power
DTE Energy Company (NYSE:DTE-Free Report) has received approval from The Michigan Public Service Commission to purchase 20 megawatt (MW) of wind power from a subsidiary of Heritage Sustainable Energy, a Michigan wind energy producer.
The 20-year contract between DTE Energy and Heritage Sustainable Energy calls for the purchase of all the power produced from Big Turtle Wind Farm LLC. Located in Rubicon Township in Huron County in Michigan's Thumb area, this wind farm is spread over an area of 2,800 acres and is expected to come online in late 2014. The 20 MW of electricity will be enough to power 9,000 homes.
The Big Turtle Wind Farm will have 10 2-MW turbines. This wind farm is unique in the sense that instead of using turbines of established manufacturers, it will employ turbines of a local company, Ventower Industries. In fact, the farm intends to promote new technology advanced by Ventower Industries and other local Michigan suppliers, which would comprise at least 50% of the total content.
By 2015, the company expects to add more than 900 MW, or 10% of its power. This wind power contract comes on the heels of the company's efforts to meet the state's renewable energy goals. This contract would bring the company's renewable energy portfolio to 9.8%, thereby implying that the company is just 0.2 percentage points away from its goal of reaching 10.0% by 2015.
In the current climate of promoting green energy, power purchase agreements (PPAs) are an easy way for renewable-energy producers and regulated utilities to fulfill their renewable energy goals.
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