AVECC Partners With Itron & NRTC to Modernize Energy Infrastructure

Itron Inc. ITRI and its channel partner, National Rural Telecommunications Cooperative (“NRTC”) have recently been selected by Arkansas Valley Electric Cooperative Corporation (“AVECC”) to redefine AVECC’s power grid by utilizing its existing fiber optic network and implementing Itron’s advanced smart grid technology. AVECC serves nearly 63,000 members across the Arkansas River Valley, maintaining more than 6,000 miles of distribution lines.Backed by funding from the U.S. Department of Energy’s Grid Resilience and Innovation Partnerships (“GRIP”) Program, the project involves deploying Itron’s Gen5 Riva smart meters connected through Itron’s fiber-enabled communications technology. The initiative was undertaken to improve grid reliability, promote clean energy adoption and empower rural communities through advanced technology.ITRI’s Role in AVECC’s Grid Modernization EffortsRecognizing the need to improve grid reliability and efficiency, AVECC launched its Advanced Smart Grid Project in 2018 by deploying a Gigabit Passive Optical Network (GPON) fiber communications system. This high-speed, secure network provided connectivity to AVECC's electric substations and facilitated Internet access for community members. However, to further enhance energy distribution, AVECC is upgrading its GPON fiber infrastructure by integrating Itron’s Fiber MiniAP devices, enabling connectivity for Itron electric smart meters across its service area. This is likely to give AVECC better grid visibility, control and analytics while allowing members to access enhanced services and detailed usage data.The Fiber MiniAP is a highly flexible communication device that can extend industrial IoT (IIoT) network coverage in rural, low-meter-per-mile areas. It seamlessly supports both fiber and RF Mesh communications, enabling AVECC to connect smart grid assets, enhance network visibility and improve operational efficiency. As AVECC continues its smart grid journey, the deployment of Itron’s Gen5 Riva smart meters and Fiber MiniAP devices will enable utilities to harness advanced smart grid technologies for better energy management and reliability.Strong business pipeline activities, driven by the increasing adoption of the grid edge intelligence platform, are driving ITRI’s revenue growth. In the last reported quarter, revenues of $613 million beat the Zacks Consensus Estimate by 1.6% and grew 6% year over year, exceeding the high end of the company’s guided range. Driven by momentum, it expects revenues to be between $610 million and $620 million for the first quarter of 2025.ITRI’s Zacks Rank and Stock Price PerformanceITRI currently carries a Zacks Rank #2 (Buy). The stock has gained 14.1% in the past year against the Zacks Electronics-Testing Equipment industry’s decline of 3%.Image Source: Zacks Investment ResearchOther Stocks to ConsiderSome other top-ranked stocks from the broader technology space are InterDigital, Inc. IDCC, Ubiquiti Inc. UI and Arista Networks, Inc. ANET. IDCC & UI presently sport a Zacks Rank #1 (Strong Buy), while ANET carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.IDCC is a pioneer in advanced mobile technologies that enable wireless communications and capabilities. The company engages in designing and developing a wide range of advanced technology solutions, which are used in digital cellular as well as wireless 3G, 4G and IEEE 802-related products and networks. It has a long-term growth expectation of 15%.Ubiquiti’s effective management of its strong global network of more than 100 distributors and master resellers improved its visibility for future demand and inventory management techniques. In the last reported quarter, Ubiquiti delivered an earnings surprise of 33.3%. Its highly flexible global business model remains apt to adapt to the changing market dynamics to overcome challenges while maximizing growth.Arista delivered a trailing four-quarter average earnings surprise of 12.87%. It has a long-term growth expectation of 14.41%. It supplies products to a prestigious set of customers, including Fortune 500 global companies in markets such as cloud titans, enterprises, financials and specialty cloud service providers.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Itron, Inc. (ITRI): Free Stock Analysis Report InterDigital, Inc. (IDCC): Free Stock Analysis Report Arista Networks, Inc. (ANET): Free Stock Analysis Report Ubiquiti Inc. (UI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks