The World's #1 Renewable Energy Network for News, Information, and Companies.
Untitled Document

Ten Clean Energy Stocks for 2014: March Update

After a rough January, the stock market recovered in February, while clean energy stocks partied like it was 2013.

My annual Ten Clean Energy Stocks model portfolio also had a good month, rising 6.0 percent, and is now up 4.7 percent for the year in dollar terms, and up % in local currency terms.  My broad market benchmark (the iShares Russell 2000 index) is up 7.5 percent for the period and 1.5 percent for the year.  Clean energy stocks soared higher, with the Powershares WilderHill Clean Energy ETF (NYSE:PBW) up 16.3 percent for the period and 15.7 percent for the year. 

Turning to individual stocks in the model portfolio, several companies have reported 2013 results.  I cover this and other significant news below.

Individual Stock Notes

(Current prices as of February 3rd, 2014.  The "High Target" and "Low Target" represent the ranges within which I predicted these stocks would end the year, although I expect a minority will stray beyond these bands due to unanticipated events.)

1. Hannon Armstrong Sustainable Infrastructure (NYSE:HASI)
Current Price: $14.05. 12/26/2013 Price: $13.85.   Annual Yield: 6.3%.  Low Target: $13.  High Target: $16.  
YTD Total US$ Return: 1.4%

Sustainable Infrastructure REIT Hannon Armstrong announced full year results.  While management reaffirmed their 13 percent to 15 percent target for core earnings and dividend growth, the company took a provision of $0.69 per share on investment in a geothermal loan, which was a larger  write-down than I had anticipated. Some of this may be recovered in future quarters.

Because of the loss, management presented significant details about the credit quality of its other assets in the conference call, 96 percent of which is investment grade.  This seems to have reassured investors, as the stock has been rising to bring its yield more in-line with other clean energy income stocks.

2. PFB Corporation (TSX:PFB, OTC:PFBOF)
Current Price: C$5.30. 12/26/2013 Price: C$4.85.   Annual Yield: 4.5%.  Low Target: C$4.  High Target: C$6. 
YTD Total C$ Return: 10.5%.  
YTD Total US$ Return: 6.8%

Green Building company PFB scaled back its stock repurchase program in February, but board member and large shareholder, Edward Kernaghan has continued his purchases, buying 3,700 shares since the last update.  The company paid its regular C$0.06 dividend in February.

3. Capstone Infrastructure Corp (TSX:CSE. OTC:MCQPF).
Current Price: 
C$3.84. 12/26/2013 Price: C$3.55. Annual Yield: 7.8%.  Low Target: C$3.  High Target: C$5.   
YTD Total C$ Return: 10.3% 
.  YTD Total US$ Return: 6.6%

Independent power producer Capstone will hold its annual results conference call on March 7th.

4. Primary Energy Recycling Corp (TSX:PRI, OTC:PENGF).
Current Price: C$5.44.  
12/26/2013 Price: C$4.93.  Annual Yield: 4.1%.  Low Target: C$4.  High Target: C$7.  
YTD Total C$ Return: 11.5% 
.  YTD Total US$ Return: 7.8% 

Waste heat recovery firm Primary Energy announced the long-anticipated recontacting of its largest facility on Friday.  In the two trading days since, only 920 shares have traded, compared to a three month average daily trading volume of over 20,000 shares.  This reflects a lack of willing sellers as shareholders await the company's annual results, to be released on March 18th.

5. Accell Group (Amsterdam:ACCEL, OTC:ACGPF).
Current Price: 
€14.27. 12/26/2013 Price: €13.59.  Annual Yield: 3.9%.  Low Target:11.5.  High Target: €18. 
YTD Total 
  Return: 5.0% .  YTD Total US$ Return: 5.0% 


Bicycle manufacturer and distributor Accell announced annual results on February 21st. Sales increased 10 percent, led by a 23 percent increase in e-bike sales.  Earnings declined 18 percent mostly due to reorganization costs.  The company proposed a €0.55 annual dividend, to be approved at the annual meeting. The lower earnings and dividend were expected, and the stock has reacted favorably since the announcement.

6. New Flyer Industries (TSX:NFI, OTC:NFYEF).
Current Price: C$11.33.  
12/26/2013 Price: C$10.57.  Annual Yield: 5.2%.  Low Target: C$8.  High Target: C$16.  
YTD Total C$ Return: 8.1% 
.  YTD Total US$ Return: 4.5%.

Leading transit bus manufacturer New Flyer will announce annual results on March 19th.  The company paid its normal C$0.04875 monthly dividend.

7. Ameresco, Inc. (NASD:AMRC).
Current Price: $9.99 
12/26/2013 Price: $9.64.   Annual Yield: N/A.  Low Target: $8.  High Target: $16.  
YTD Total US$ Return: 3.6%.

Energy performance contracting firm Ameresco will announce its annual results on March 13th.  The Pentagon announced that Ameresco is now eligible to bid on projects included in its $7 Billion green energy program.

8. Power REIT (NYSE:PW).
Current Price: $9.25 
12/26/2013 $9.34 Price: $8.42.  Annual Yield: N/A.  Low Target: $7.  High Target: $20.
YTD Total US$ Return: 9.9%

I took a look at the preferred stock offering from solar and rail real estate investment trust Power REIT, and decided to invest.

9. MiX Telematics Limited (NASD:MIXT).
Current Price: $11.88. 
12/26/2013 Price: $12.17.  Annual Yield: N/A.  Low Target: $8.  High Target: $25.
YTD Total US$ Return: -2.4%

Global provider of software as a service fleet and mobile asset management, MiX Telematics, announced its fiscal third quarter results on February 6th, including slightly-better than anticipated growth in its closely watched subscription revenues.  After the results were out, I interviewed CEO Stefan Joselowitz and industry expert Clem Driscoll.  I had initially included MiX in this portfolio because I felt it was the best valued company is a rapidly growing industry which can significantly reduce fuel uses and improve driver safety.  

After doing the research for that article, I am even more enthusiastic about the company.  In addition to the stock being a better value than those of its competitors, I believe MiX is a leader in globalization and its tools to provide driver feedback, which improve efficiency and safety.  Given the recent stock pullback, I added to my holdings, and consider the current price an excellent entry point.

10. Alterra Power Corp. (TSX:AXY, OTC:MGMXF).
Current Price: C$0.30 
  12/26/2013 Price: C$0.28.   Annual Yield: N/A.  Low Target: C$0.20.  High Target: C$0.60.
YTD Total C$ Return: 7.1% .  YTD Total US$ Return: 3.6%.

Renewable energy developer and operator Alterra Power completed the acquisition of a 202-MW wind development and announced the results of its 66 percent owned Icelandic subsidiary, HS Orka.  Revenues and electricity production increased, but EBITDA and income were down, mostly due to one-off factors. HS Orka continues to use most of its cash flow to rapidly pay down debt.  This cash flow should be available for other uses from 2017 onwards.

Two Speculative Penny Stocks for 2014

Ram Power Corp (TSX:RPG, OTC:RAMPF)
Current Price: C$0.08   12/26/2013 Price: C$0.08.   Annual Yield: N/A.  Low Target: C$0.20.  High Target: C$0.60.
YTD Total C$ Return: 0% .  YTD Total US$ Return: -3.3%.

Geothermal power developer Ram completed the remediation of its San Jacinto-Tizate project on January 22nd, and expects to complete a plant capacity test in March.  Management expects the remediation to have increased the  plant capacity to between 58 and 63 MW.  We can expect the stock to appreciate significantly if it is in the upper part of the range.  If it fails to reach 58 MW, look out below!

Finavera Wind Energy (TSX-V:FVR, OTC:FNVRF).  
Current Price: C$0.075   12/26/2013 Price: C$0.075.   Annual Yield: N/A.  Low Target: C$0.20.  High Target: C$0.60.
YTD Total C$ Return: 0% .  YTD Total US$ Return: 0%.

There were no updates from wind project developer Finavera.

Final Thoughts

Clean energy stocks are starting off the year at a blistering pace.  Although my picks have not kept up, I'm very happy with the 4.7 percent return from these relatively conservative and income-heavy stocks.  Of the ten, only MiX is down, and I'm also happy to see the stock there for now.  Its recent US listing only came to my attention in December, and the current weakness comes at an opportune time, as I am becoming more enthusiastic about the company's long term prospects.


DISCLAIMER: Past performance is not a guarantee or a reliable indicator of future results.  This article contains the current opinions of the author and such opinions are subject to change without notice.  This article has been distributed for informational purposes only. Forecasts, estimates, and certain information contained herein should not be considered as investment advice or a recommendation of any particular security, strategy or investment product.  Information contained herein has been obtained from sources believed to be reliable, but not guaranteed.

This article ws originally published on AltEnergy Stocks and was republished with permission.

Lead image: Rate of exchange via Shutterstock

Untitled Document

Get All the Renewable Energy World News Delivered to Your Inbox - FREE!

Subscribe to Renewable Energy World Magazine and our award-winning e-Newsletter to stay up to date on current news and industry trends.

 Subscribe Now



A Case Study in Energy-Transition Momentum

Tim King South Australia is clearly at the forefront of the global energy transition as it establishes a fast-moving model oth...

US Senate Democrats Unveil Energy Bill That Restores PTC and Extends ITC

Brian Eckhouse, Bloomberg Senate Democrats unveiled a bill that would provide more tax credits for renewable energy while killing some tax ince...

Sage Grouse Removed as Threat to Biggest Wind Farm in U.S.

Christopher Martin, Bloomberg Billionaire Phil Anschutz’s plans to build a $5 billion wind farm in southeast Wyoming will no longer be stymied by t...

CEO Gilles: Challenge in Geothermal is to 'Level Playing Field' with Wind, Solar

Jennifer Delony The current challenge for the geothermal energy industry is what U.S. Geothermal CEO Dennis Gilles calls “leveling th...


Fronius Shifting the Limits in Solar-Plus: It’s not just about products, it’s about solutions.

Fronius USA, who just recently launched the all-new Fronius SnapINverter line this past...

IREC Announces Changes in Regulatory Team

The Interstate Renewable Energy Council (IREC), a not-for-profit organization which for...

IREC Awarded New Funding to Advance Digital Credentials

The Interstate Renewable Energy Council (IREC) proudly announces funding for an innovat...

$100 Discount on 5-day Advanced PV Project Experience Workhop

Upcoming 5-day Workshops: Nov. 7 - 11 Feb. 6 - 10


NY Gov. Cuomo Pledges to Create Carbon Market use Solar, Wind to reduce Climate Change

This week former Vice President Al Gore joined with New York Gov. Andrew Cuomo (D) to sign the Under 2 MOU, a directi...
clean energy

In Clean Energy, The Truth Matters

A group of about 20 protesters gathered outside the Sheraton in Burlington, Vt., early on Oct. 8 as attendees arrived...

Industry Focus: Cleantech: 1366 Technologies joins Solarcity in New York

1366 is set to build a factory just up the road (OK, it is a long road – NYS Thruway) from Solarcity.  The...


Tom Konrad is a private money manager and freelance writer focused on Peak Oil and Climate Change as investment themes. He manages portfolios for individual clients and is Head of Research for the JPS Green Economy Fund (http://jpsgreeneconomyfund...


Volume 18, Issue 4


To register for our free
e-Newsletters, subscribe today:


Tweet the Editors! @jennrunyon



Successfully Integrating Solar: A Proactive Approach

•      What does the increasing solar penetrati...

Solar Power Asset Management and Performance

SEIA and SEPA collaborated with industry leaders to present the first ev...

Solar Power Northeast

  From the team that produced Solar Power Southeast and the sol...


Saving Vs. Gaining

Whenever I do a national keynote speech or customized coaching session f...

SPI Brings Out The Best In Solar

Phew…...those cross-country flights sure take a lot out of a guy....

Join us at the New Solar Power Northeast

From the team that produced Solar Power Southeast and the sold out P...


Renewable Energy: Subscribe Now

Solar Energy: Subscribe Now

Wind Energy: Subscribe Now

Geothermal Energy: Subscribe Now

Bioenergy: Subscribe Now