Feb 16, 2022 (WallStreetPR via Comtex) -- The electric grid is probably the most important piece of infrastructure we have.
At base, it's a network that connects nearly 10,000 power producing units covering well over a half million miles of power transmission lines across the United States.
Every piece of that puzzle is critical to maintaining daily life - powering how every one of us does everything we do every single day everywhere. We take it for granted. But a crisis in this domain of infrastructure would be catastrophic, and we would soon realize just how much we take for granted if it were to falter on anything like a sustained basis.
But our demands on this system continue to grow.
As we move toward even greater reliance - with growing numbers of electric vehicles on the road and more "smart" systems penetrating every aspect of our homes, vehicles, and commercial structures - this dependency is only going to grow in the years ahead.
That's why investors should be looking for ways to gain exposure to new innovators in the power grid space that could be poised to shape the story over coming years. With that in mind, we take a look below at some of the most interesting stocks moving this story forward right now.
Eaton Corp. PLC /zigman2/quotes/205393239/composite ETN +1.10% is a power management company that provides energy-efficient solutions for electrical, hydraulic, and mechanical power. It operates through its Electrical Americas and Electrical Global, Hydraulics, Aerospace, Vehicle, and eMobility segments.
The Electrical Americas and Electrical Global segment engages in sales contracts for electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality, wiring devices, circuit protection, utility power distribution, power reliability equipment, and service. The Hydraulics segment includes hydraulics components, systems, and services for industrial and mobile equipment. The Aerospace segment is produces aerospace fuel, hydraulics, and pneumatic systems for commercial and military use. The Vehicle segment engages in designing, manufacturing, marketing, and supply of drivetrain and powertrain systems and critical components that reduce emissions and improve fuel economy, stability, performance and safety of cars, light trucks, and commercial vehicles. The eMobility segment designs, manufactures, markets, and supplies electrical and electronic components and systems that improve the power management and performance of both on-road and off-road vehicles.
Eaton Corp. PLC /zigman2/quotes/205393239/composite ETN +1.10% recently announced that Kurt McMaken has been named senior vice president, operations finance and finance transformation. In this role, McMaken will lead the Global Operations and Transformation organization. This organization includes the company's financial planning and analysis and operations finance teams and has responsibility for the development of finance technology enhancements. McMaken will report to Tom Okray, Eaton's executive vice president and chief financial officer, and will be a member of the senior leadership team.
Since joining Eaton in 2001, McMaken has held a number of senior leadership roles in the company including senior vice president, corporate development, and treasury; vice president, finance, Electrical, for Europe, the Middle East and Africa (EMEA); corporate president, EMEA; and most recently senior vice president, finance and planning, Electrical Sector.
And the stock has been acting well over recent days, up something like 3% in that time. Over the past month, shares of the stock have suffered from clear selling pressure, dropping by roughly -7%.
Eaton Corp. PLC /zigman2/quotes/205393239/composite ETN +1.10% managed to rope in revenues totaling $4.8B in overall sales during the company's most recently reported quarterly financial data — a figure that represents a rate of top line growth of 2.4%, as compared to year-ago data in comparable terms. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($568M against $7.2B, respectively).
Viking Energy Group Inc. /zigman2/quotes/204256105/delayed VKIN +1.32% is an interesting stock. The company - a majority-owned subsidiary of Camber Energy Inc /zigman2/quotes/201242655/composite CEI -4.46% - is a growing oil and gas producer. But it also has exposure to the carbon capture theme through Camber's recent Exclusive Intellectual Property License Agreement with ESG Clean Energy involving a deal for ESG's patent rights and know-how related to stationary electric power generation, including methods to utilize heat and capture carbon dioxide.
Now VKIN is moving headlong into the power grid marketplace with its most recent announcement.
Viking Energy Group Inc. /zigman2/quotes/204256105/delayed VKIN +1.32% just put out news this week that it has acquired a 51% interest in two entities that own the intellectual property rights to fully developed, patent pending, ready-for-market proprietary Electric Transmission and Distribution Open Conductor Detection Systems.
According to the company's release, the purchase price for the interests acquired by Viking is up to $21,000,000, with $5,000,000 payable in shares of Viking on closing (i.e. $250,000 in common stock and $4,750,000 in preferred stock) and the balance payable upon certain sales thresholds to be achieved.