Energy: Electric Utilities 2009

Daniel FordBarclays

second teamHugh WynneSanford C. Bernstein

third team丹尼尔·艾格斯Credit Suisse

At No. 1 for a third consecutive year is Daniel Ford of Barclays Capital. The 42-year-old analyst is “frequently out in front of the herd on calling a change in trends,” observes one portfolio manager. In October 2008, Ford told clients to buy CMS Energy Corp., noting that recently passed energy reform legislation in Michigan would result in strong growth at the Jackson-based electricity distributor. Through August the stock sizzled up 34.1 percent, from $10 to $13.41, and left the sector’s 3.6 percent loss in the dark.

Hugh Wynne of Sanford C. Bernstein, who rises one rung to second place, “does the best work on some of the fundamentals of the power space,” marvels one buy-side enthusiast. In April, after the stock market had begun to rally, Wynne reminded investors to keep their expectations in check, noting that utilities stocks tend to underperform in the early stages of economic recovery. He also reiterated his buy recommendation on PG&E Corp., which at the time was down 4.1 percent for the year, to $37.12. The San Francisco–based utility’s shares had risen 9.3 percent, to $40.59, by late August, but still trailed the broad market by 7.6 percentage points since Wynne’s reiteration.

丹尼尔·艾格斯debuts in third place. The Credit Suisse analyst “produces exceptionally detailed reports that support keen insights on the industry,” says one ally. Strong growth prospects prompted Eggers to recommend Pinnacle West Capital Corp. in May, at $26.15. Shares of the Phoenix-based electricity supplier surged 25.9 percent, to $32.91, through August.

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See article, "2009 All-America Research Team: A Time To Rebuild".