Altus Power, Inc. operates as a clean electrification company in the United States. It is involved in the on-site solar generation for commercial, industrial, and public customers; community solar; energy storage; and electric vehicle charging businesses. The company was founded in 2009 and is based in Stamford, Connecticut.
IPO Year: 2021
Exchange: NYSE
Website: https://www.altuspower.com
Date | Price Target | Rating | Analyst |
---|---|---|---|
8/21/2024 | $8.00 → $4.00 | Overweight → Equal-Weight | Morgan Stanley |
6/3/2024 | $6.50 | Buy | Seaport Research Partners |
5/15/2024 | Overweight → Neutral | JP Morgan | |
4/10/2024 | $7.00 | Buy | Maxim Group |
11/30/2023 | $10.00 | Outperform | Northland Capital |
4/3/2023 | $12.00 → $9.00 | Overweight | Morgan Stanley |
1/10/2023 | $12.00 | Equal-Weight → Overweight | Morgan Stanley |
1/4/2023 | $15.00 | Outperform | Evercore ISI |
11/14/2022 | $10.00 | Neutral → Overweight | JP Morgan |
10/25/2022 | $14.00 | Buy | UBS |
Altus Power (NYSE:AMPS), the largest commercial scale provider of clean electric power, today announced the acquisition of an 8.5 MW solar array in New Jersey. The ground-mounted project generates clean, electric power that will be sold to PJM, the local independent system operator, as well as Solar Renewable Energy Credits (SRECs), and increases the size of the company's New Jersey portfolio to 185.5 MW in aggregate. "New Jersey is a national leader in renewable energy and we're pleased to expand our footprint in the Garden State," said Gregg Felton, CEO, Altus Power. "This acquisition includes 63 acres of land which enhances our flexibility to redevelop this site in the future and maximiz
Seaport Global analyst Jeff Campbell initiates coverage on Altus Power (NYSE:AMPS) with a Buy rating and announces Price Target of $6.5.
Roth MKM analyst Justin Clare maintains Altus Power (NYSE:AMPS) with a Buy and lowers the price target from $7 to $5.
JP Morgan analyst Mark Strouse downgrades Altus Power (NYSE:AMPS) from Overweight to Neutral.
B. Riley Securities analyst Christopher Souther maintains Altus Power (NYSE:AMPS) with a Buy and lowers the price target from $7 to $6.
Evercore ISI Group analyst James West maintains Altus Power (NYSE:AMPS) with a Outperform and lowers the price target from $9 to $7.
Altus Power (NYSE:AMPS) reported quarterly earnings of $0.05 per share which beat the analyst consensus estimate of $(0.08) by 162.5 percent. This is a 66.67 percent increase over earnings of $0.03 per share from the same period last year. The company reported quarterly sales of $40.659 million which beat the analyst consensus estimate of $39.920 million by 1.85 percent. This is a 38.40 percent increase over sales of $29.378 million the same period last year.
Limited number of spots available in soon to be energized project at the Morgan Stanley campus in Purchase, NY In the city that never sleeps, every New York minute counts. And now, in just a minute, you can make a lasting impact on your energy bill and the environment. Say hello to Altus Power Community Solar, the no-strings-attached way to power your community with the benefits of clean, renewable energy. Altus Power (NYSE:AMPS), the largest commercial scale provider of clean electric power, is offering slots to both renters and homeowners who are looking for opportunities to save on their annual utility costs while supporting New York's transition to clean electric power. "New Yorkers
Benefits of clean electric power to be delivered to DB Schenker and local Community Solar subscribers Altus Power (NYSE:AMPS), the largest commercial scale provider of clean electric power, today announced plans to develop a new 750kW solar system in Cherry Valley, Illinois, in partnership with the building developer, Venture One, and the long-term owner, Affinius Capital (formerly USAA Real Estate and Square Mile Capital). The benefits of the clean electric power generated by the array will be delivered under a long-term contract to the tenant, DB Schenker, helping to decarbonize their operations at the site. "Our growing reputation among real estate developers as a one-stop provider o
Second Quarter Financial Highlights Second quarter 2024 revenues of $52.5 million, a 13% increase as compared to second quarter 2023 GAAP net income of $33.1 million for second quarter 2024, as compared to $3.4 million for second quarter 2023 Adjusted EBITDA* of $31.2 million for second quarter 2024, or a 2% increase as compared with second quarter 2023 Recent Business Highlights Increased portfolio size by 42% as compared to second quarter of 2023 Generated 364 million kilowatt hours of clean electric power, the equivalent of approximately 254,000 metric tons of carbon dioxide avoided annually Number one owner of commercial-scale solar1, with a portfolio of nearly 1 gi
Altus Power (NYSE:AMPS), the largest commercial-scale provider of clean electric power, announced today that Richard A. Shapiro has joined its Board of Directors. Shapiro will serve as chair of the Compensation Committee. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240801889693/en/Richard Shapiro (Photo: Business Wire) "Altus Power's position as the largest player in the commercial solar space, together with our expertise and platform capability allow us to deliver the benefits of locally-generated clean electric power, providing our customers with greater access and energy security. As we scale our portfolio of solar assets,
CBRE Group, Inc. (NYSE:CBRE) today reported financial results for the second quarter ended June 30, 2024. Key Highlights: Revenue up 9%; net revenue up 11% Resilient Business(1) net revenue increased 14%, bolstered by Turner & Townsend's 18% growth Advisory transaction revenue - leasing and capital markets - rose 5%, supported by growth of 13% in U.S. leasing revenue and 20% in mortgage origination fees GAAP EPS down 34% to $0.42; Core EPS down 2% to $0.81 Deployed $1.3 billion of capital year-to-date across M&A and REI co-investments Both net cash flow from operations and free cash flow improved by approximately $300 million; free cash flow conversion was nearly 90%
Altus Power, Inc. (NYSE:AMPS), the largest commercial-scale provider of clean electric power, today announced that it will report financial results for the second quarter of 2024 after the closing of the New York Stock Exchange on Thursday, August 8th. Following the release, Altus CEO Gregg Felton and CFO Dustin Weber will host a conference call at 4:30pm ET to review results and provide a brief business update. Interested investors and other parties can listen to a webcast of the live conference call by logging onto the Investor Relations section of the Company's website at Altus Power, Inc. | Events & Presentations. The conference call can be accessed live over the phone by dialing
Altus Power (NYSE:AMPS), the largest commercial scale provider of clean electric power, today announced the acquisition of an 8.5 MW solar array in New Jersey. The ground-mounted project generates clean, electric power that will be sold to PJM, the local independent system operator, as well as Solar Renewable Energy Credits (SRECs), and increases the size of the company's New Jersey portfolio to 185.5 MW in aggregate. "New Jersey is a national leader in renewable energy and we're pleased to expand our footprint in the Garden State," said Gregg Felton, CEO, Altus Power. "This acquisition includes 63 acres of land which enhances our flexibility to redevelop this site in the future and maxim
Former Altus Power Co-CEO Adds to the Leadership of Rapidly-Growing Student Finance Firm NEW YORK, June 18, 2024 /PRNewswire/ -- Edly, Inc. – a leading fintech platform that allows investors to participate in funding solutions for students and college athletes – today announced the appointment of Lars Norell as Executive Chairman. In this capacity, Norell, the founder and former co-CEO of Altus Power (NYSE:AMPS), will provide added leadership to Edly as it continues to rapidly expand its innovative funding solutions to capital providers, students, athletes and schools. Norell
Altus Power, Inc. (NYSE:AMPS), the largest commercial scale provider of clean electric power, today announced its CEO, Gregg Felton, and CFO, Dustin Weber, will attend various industry conferences and investor meetings over the next several weeks. Felton and Weber will participate in fireside chats at the 3rd Annual Evercore ISI Global Clean Energy & Transition Technologies Summit (June 12) and the JP Morgan 2024 Energy, Power & Renewables Conference (June 18), both in New York. Both will also participate in the Roth 10th Annual London Conference (June 26-27). "We're excited to begin the summer by meeting with the investor community in order to provide additional insights on the commercia
First Quarter Financial Highlights First quarter 2024 revenues of $40.7 million, a 38% increase as compared to first quarter 2023 GAAP net income of $4.1 million for first quarter 2024, an increase as compared to $3.8 million for first quarter 2023 Adjusted EBITDA* of $19.7 million for first quarter 2024, or a 23% increase as compared with first quarter 2023 Recent Business Highlights Added ~4,000 Community Solar customers, bringing total to over 24,000 Increased portfolio size by 45% to 981 MW as compared to first quarter 2023 Projects with CBRE Investment Management begin construction in Maryland Largest owner of commercial scale solar assets in the US1 Quarter
SC 13G/A - Altus Power, Inc. (0001828723) (Subject)
SC 13G/A - Altus Power, Inc. (0001828723) (Subject)
SC 13D/A - Altus Power, Inc. (0001828723) (Subject)
SC 13D/A - Altus Power, Inc. (0001828723) (Subject)
SC 13G/A - Altus Power, Inc. (0001828723) (Subject)
SC 13G/A - Altus Power, Inc. (0001828723) (Subject)
4 - Altus Power, Inc. (0001828723) (Issuer)
3 - Altus Power, Inc. (0001828723) (Issuer)
4 - Altus Power, Inc. (0001828723) (Issuer)
4 - Altus Power, Inc. (0001828723) (Issuer)
4 - Altus Power, Inc. (0001828723) (Issuer)
4 - Altus Power, Inc. (0001828723) (Issuer)
4 - Altus Power, Inc. (0001828723) (Issuer)
4 - Altus Power, Inc. (0001828723) (Issuer)
4 - Altus Power, Inc. (0001828723) (Issuer)
4 - Altus Power, Inc. (0001828723) (Issuer)
Morgan Stanley downgraded Altus Power from Overweight to Equal-Weight and set a new price target of $4.00 from $8.00 previously
Seaport Research Partners initiated coverage of Altus Power with a rating of Buy and set a new price target of $6.50
JP Morgan downgraded Altus Power from Overweight to Neutral
Maxim Group initiated coverage of Altus Power with a rating of Buy and set a new price target of $7.00
Northland Capital initiated coverage of Altus Power with a rating of Outperform and set a new price target of $10.00
Morgan Stanley resumed coverage of Altus Power with a rating of Overweight and set a new price target of $9.00 from $12.00 previously
Morgan Stanley upgraded Altus Power from Equal-Weight to Overweight and set a new price target of $12.00
Evercore ISI initiated coverage of Altus Power with a rating of Outperform and set a new price target of $15.00
JP Morgan upgraded Altus Power from Neutral to Overweight and set a new price target of $10.00
UBS initiated coverage of Altus Power with a rating of Buy and set a new price target of $14.00
4 - Altus Power, Inc. (0001828723) (Issuer)
4 - Altus Power, Inc. (0001828723) (Issuer)
4 - Altus Power, Inc. (0001828723) (Issuer)
4/A - Altus Power, Inc. (0001828723) (Issuer)
4 - Altus Power, Inc. (0001828723) (Issuer)
Second Quarter Financial Highlights Second quarter 2024 revenues of $52.5 million, a 13% increase as compared to second quarter 2023 GAAP net income of $33.1 million for second quarter 2024, as compared to $3.4 million for second quarter 2023 Adjusted EBITDA* of $31.2 million for second quarter 2024, or a 2% increase as compared with second quarter 2023 Recent Business Highlights Increased portfolio size by 42% as compared to second quarter of 2023 Generated 364 million kilowatt hours of clean electric power, the equivalent of approximately 254,000 metric tons of carbon dioxide avoided annually Number one owner of commercial-scale solar1, with a portfolio of nearly 1 gi
CBRE Group, Inc. (NYSE:CBRE) today reported financial results for the second quarter ended June 30, 2024. Key Highlights: Revenue up 9%; net revenue up 11% Resilient Business(1) net revenue increased 14%, bolstered by Turner & Townsend's 18% growth Advisory transaction revenue - leasing and capital markets - rose 5%, supported by growth of 13% in U.S. leasing revenue and 20% in mortgage origination fees GAAP EPS down 34% to $0.42; Core EPS down 2% to $0.81 Deployed $1.3 billion of capital year-to-date across M&A and REI co-investments Both net cash flow from operations and free cash flow improved by approximately $300 million; free cash flow conversion was nearly 90%
Altus Power, Inc. (NYSE:AMPS), the largest commercial-scale provider of clean electric power, today announced that it will report financial results for the second quarter of 2024 after the closing of the New York Stock Exchange on Thursday, August 8th. Following the release, Altus CEO Gregg Felton and CFO Dustin Weber will host a conference call at 4:30pm ET to review results and provide a brief business update. Interested investors and other parties can listen to a webcast of the live conference call by logging onto the Investor Relations section of the Company's website at Altus Power, Inc. | Events & Presentations. The conference call can be accessed live over the phone by dialing
Altus Power (NYSE:AMPS), the largest commercial scale provider of clean electric power, today announced the acquisition of an 8.5 MW solar array in New Jersey. The ground-mounted project generates clean, electric power that will be sold to PJM, the local independent system operator, as well as Solar Renewable Energy Credits (SRECs), and increases the size of the company's New Jersey portfolio to 185.5 MW in aggregate. "New Jersey is a national leader in renewable energy and we're pleased to expand our footprint in the Garden State," said Gregg Felton, CEO, Altus Power. "This acquisition includes 63 acres of land which enhances our flexibility to redevelop this site in the future and maxim
First Quarter Financial Highlights First quarter 2024 revenues of $40.7 million, a 38% increase as compared to first quarter 2023 GAAP net income of $4.1 million for first quarter 2024, an increase as compared to $3.8 million for first quarter 2023 Adjusted EBITDA* of $19.7 million for first quarter 2024, or a 23% increase as compared with first quarter 2023 Recent Business Highlights Added ~4,000 Community Solar customers, bringing total to over 24,000 Increased portfolio size by 45% to 981 MW as compared to first quarter 2023 Projects with CBRE Investment Management begin construction in Maryland Largest owner of commercial scale solar assets in the US1 Quarter
GAAP EPS Up 10% to $0.41 Core EPS Down 15% to $0.78 CBRE Group, Inc. (NYSE:CBRE) today reported financial results for the first quarter ended March 31, 2024. Consolidated Financial Results Overview The following table presents highlights of CBRE performance (dollars in millions, except per share data; totals may not add due to rounding): % Change Q1 2024 Q1 2023 USD LC (1) Operating Results Revenue $ 7,935 $ 7,411 7.1 % 6.9
Altus Power, Inc. (NYSE:AMPS), the largest commercial-scale provider of clean electric power, today announced that it will report financial results for the first quarter of 2024 after the closing of the New York Stock Exchange on Thursday, May 9, 2024. The earnings release will be followed by a conference call for investors at 4:30 PM Eastern Time. The call will feature prepared remarks from Gregg Felton, Co-Chief Executive Officer and Dustin Weber, Chief Financial Officer. The prepared remarks will be followed by a question-and-answer session which will also include Lars Norell, Co-Chief Executive Officer of Altus Power. The conference call may be accessed via live webcast on a listen-
Full Year 2023 Financial Highlights Full year 2023 revenues of $155.2 million, a 53% increase compared to full year 2022 GAAP net loss of $26.0 million for full year 2023, compared to net income of $52.2 million for full year 2022 Adjusted EBITDA* of $93.1 million for full year 2023, a 59% increase compared to full year 2022 Net cash provided by operating activities of $79.4 million, a 125% increase over 2022 Adjusted EBITDA margin* of 60% for full year 2023, compared to 58% for full year 2022 Business Highlights Added ~150 enterprise customers, bringing total to over 450 Increased portfolio size by 91% to 896 MW during 2023 Completed ~74 MW of new-build assets an
Q4 GAAP EPS rose to $1.55 Q4 Core EPS rose to $1.38 FY GAAP EPS declined to $3.15 FY Core EPS declined to $3.84 CBRE Group, Inc. (NYSE:CBRE) today reported financial results for the fourth quarter and year ended December 31, 2023. Consolidated Financial Results Overview The following table presents highlights of CBRE performance (dollars in millions, except per share data; totals may not add due to rounding): % Change % Change Q4 2023 Q4 2022 USD LC (1) FY 2023 FY 2022 USD LC (1) Operating Results
Altus Power, Inc. (NYSE:AMPS), the leading commercial-scale provider of clean electric power, today announced that it will report financial results for the full year of 2023 after the closing of the New York Stock Exchange on Thursday, March 14, 2024. The earnings release will be followed by a conference call for investors at 4:30 PM Eastern Time. The call will feature prepared remarks from Lars Norell, Co-Chief Executive Officer and Dustin Weber, Chief Financial Officer. The prepared remarks will be followed by a question-and-answer session which will also include Gregg Felton, Co-Chief Executive Officer of Altus Power. The conference call may be accessed via live webcast on a listen-o
10-Q - Altus Power, Inc. (0001828723) (Filer)
8-K - Altus Power, Inc. (0001828723) (Filer)
8-K - Altus Power, Inc. (0001828723) (Filer)
8-K - Altus Power, Inc. (0001828723) (Filer)
8-K - Altus Power, Inc. (0001828723) (Filer)
DEFA14A - Altus Power, Inc. (0001828723) (Filer)
8-K/A - Altus Power, Inc. (0001828723) (Filer)
10-Q - Altus Power, Inc. (0001828723) (Filer)
8-K - Altus Power, Inc. (0001828723) (Filer)
DEFA14A - Altus Power, Inc. (0001828723) (Filer)
Altus Power (NYSE:AMPS), the largest commercial-scale provider of clean electric power, announced today that Richard A. Shapiro has joined its Board of Directors. Shapiro will serve as chair of the Compensation Committee. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240801889693/en/Richard Shapiro (Photo: Business Wire) "Altus Power's position as the largest player in the commercial solar space, together with our expertise and platform capability allow us to deliver the benefits of locally-generated clean electric power, providing our customers with greater access and energy security. As we scale our portfolio of solar assets,
The Board of Directors has Accepted the Resignation of Lars Norell as co-CEO and Appointed Gregg Felton as sole Chief Executive Officer Altus Power, Inc. (NYSE:AMPS) ("Altus Power" or the "Company") announced today that the Board of Directors has accepted the resignation of Lars Norell as a co-CEO and as a director of the Company, effective April 26, 2024, and has appointed Gregg Felton as sole Chief Executive Officer of the Company. Mr. Felton will assume all of the duties formerly performed by Mr. Norell. Christine Detrick, Chairperson of Altus Power, said, "The Board has confidence that Gregg will move Altus Power forward with positive momentum and drive long-term shareholder value c
Altus Power (NYSE:AMPS), the largest commercial scale provider of clean, electric power, today announced the appointment of Robert Bernard, CBRE's Chief Sustainability Officer, to its Board of Directors. Bernard assumes the board seat made available by the recent retirement of Bill Concannon, who led CBRE's partnership with Altus Power since 2021. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240304865757/en/Robert Bernard (Photo: Business Wire) "With more than two decades of experience investing in companies that drive sustainable investment and as Microsoft's first Chief Environmental Strategist, Rob's wealth of experience al
Altus Power, Inc. (NYSE:AMPS), a leading commercial-scale provider of clean electric power, announced today that Tina Chan Reich has joined its Board of Directors. Ms. Reich will serve as a member of both the Audit Committee and the Nominating and Corporate Governance Committee. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231101847943/en/Tina Chan Reich, Altus Power Board Member (Photo: Business Wire) "Altus Power is already supplying hundreds of large enterprises and thousands of residential customers with the benefits of clean electric power. As we grow, we will continue to develop and enhance our current digital platform t
Altus Power (NYSE:AMPS), the leading independent owner and operator of commercial-scale solar solutions, today released its 2022 Sustainability Report, "Making Power, Making Progress," highlighting the company's progress and commitment to sustainability in the areas of Environmental, Social and Governance (ESG). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230731701321/en/ "Altus Power was founded with the goal of addressing the urgent need to transform the way we generate and consume power. Our solar arrays produce clean and affordable electric power, displacing utility power generated from fossil fuels and directly enabling
Altus Power, Inc. ("Altus Power" or the "Company") (NYSE:AMPS), the premier independent developer, owner and operator of commercial-scale solar facilities, today announced the appointment of Sophia Lee as its Chief Sustainability Officer, in addition to her current role as the Company's Chief Legal Officer. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230206005246/en/(Photo: Business Wire) "Sophia's dedication to formalizing our firm-wide commitment to sustainability practices and her determination to embed environmental, social and governance (ESG) principles into every facet of our business has helped Altus Power make further
Altus Power, Inc. ("Altus Power" or the "Company") (NYSE:AMPS), the premier independent developer, owner and operator of commercial-scale solar facilities, today announced that Diane Brink has joined its Board of Directors. Ms. Brink will additionally chair the Compensation Committee and serve as a member of the Audit Committee. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230124005225/en/(Photo: Business Wire) "Diane's proven track record leading marketing and customer experience complements the skill set of our current Board of Directors," said Christine Detrick, Chairperson of Altus Power. "Altus Power is in the business of
STAMFORD, Conn., Feb. 22, 2022 /PRNewswire/ -- Altus Power, Inc. ("Altus Power" or the "Company") (NYSE:AMPS) today announced the hiring of Chris Shelton to the position of Head of Investor Relations. Shelton began work in this position on February 7th, 2022. Shelton, who most recently worked for Millennium Management prior to joining Altus Power, will oversee all investor relations activities for the company. With over 18 years of buy-side experience investing in, and as an analyst covering, the utility and renewables sectors, Shelton brings a wealth of public market experie
STAMFORD, Conn., Jan. 26, 2022 /PRNewswire/ -- Altus Power, Inc. ("Altus Power" or the "Company") (NYSE:AMPS) today announced the hiring of Dan Alcombright to the newly created position of Chief Platform Officer. Alcombright began work in this position on January 3rd, 2022. Alcombright, who most recently worked for Duke Energy prior to joining Altus Power, will join the Company's leadership team and oversee its strategy to scale operations across the platform, build sustainable value through its alliances with portfolio partners CBRE, Blackstone and others, and accelerate grow