LONDON, UK / ACCESSWIRE / February 05, 2018 / Active-Investors.com has just released a free research report on Quanta Services, Inc. (NYSE: PWR). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=PWR as the Company's latest news hit the wire. On February 02, 2018, the Company declared that it has bagged contracts for two large diameter mainline pipeline projects in the Appalachian region of US. The Company expects to earn an estimated aggregate revenue of over $550 million from these two projects. The Company has not given details of the pipeline customer. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Quanta Services most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Details of the two pipeline projects
The Company took on one of the two large diameter mainline pipeline projects in December 2017. This project will be shown as a backlog in the Company's books as on December 31, 2017. The second project was taken on by the Company in January 2018 and will be shown as a backlog in the Company's books as on March 31, 2018.
The projects involve the installation of approximately 78 miles of 36-inch and 42-inch steel pipe in West Virginia. The Company plans to dedicate three units (spreads) to complete the two projects. The construction on both the pipeline projects are expected to start in H1 2018, subject to the customers getting the requisite regulatory approvals. Both projects are expected to be completed by end of FY18.
Appalachian Region at the center stage of Pipeline projects
As per reports in the Pipeline & Gas Journal's November 2017 edition, year 2018 is expected to be very favorable for the pipeline industry given that many projects are awaiting the FERC's (Federal Energy Regulatory Commission) final decision. This clearly indicates that operators and contractors would be working overtime for the full year in 2018. Cathy Landry, Vice President, Communications, of the Interstate Natural Gas Association of America (INGAA) expects that over 31 projects in North America are on track to be in-service by year-end and are expected to account for 14 Bcf/d of natural gas. Out of these nearly one-third of the projects are expected to be in the Appalachian Region.
Natural gas production in the Appalachian region has soared from about 2 billion cubic feet a day in 2010 to $6 billion cubic feet a day in January 2018, according to the Energy Information Administration. The region has one the most productive and economic gas acreage in the country, and a slate of pipeline projects are expected to come on-line in FY18 in the Marcellus and Utica shales.
In late January 2018, FERC granted permission to the Mountain Valley Pipeline, a $3.5 billion, 301-mile natural gas pipeline to proceed with some construction in West Virginia, which includes access roads and construction staging areas.
About Quanta Services
Founded in 1997, Houston, Texas-based Quanta is a leading integrated infrastructure solutions provider for the electric power, oil & gas, and telecommunication industries. Its comprehensive services include designing, installing, repairing, and maintaining energy and communications infrastructure. The Company has four main business units - Electric Power, Pipeline/Oil and Gas, Telecommunication Services, and Specialty Services.
The Company's Pipeline/Oil and Gas business unit provides a wide range of oil and natural gas infrastructure services including transportation, logistics and construction. This division offers full engineering, procurement and construction (EPC) services plus specialized skills and unmatched resources to the pipeline lifecycle. The Company has the capacity and capability of safely completing any project including those with local, regional, national or international scope. It has presence in US, Canada, and Australia as well as in select locations across the globe.
During December 2017, Quanta's winning bid bagged the contract for the construction of the Ontario East-West Tie Line Project in northern Ontario from NextBridge Infrastructure.
Stock Performance Snapshot
February 02, 2018 - At Friday's closing bell, Quanta Services' stock fell 5.67%, ending the trading session at $36.09.
Volume traded for the day: 2.77 million shares, which was above the 3-month average volume of 1.38 million shares.
Stock performance in the previous six-month period - up 1.09%; and past twelve-month period - up 1.58%
After last Friday's close, Quanta Services' market cap was at $5.92 billion.
Price to Earnings (P/E) ratio was at 19.46.
The stock is part of the Industrial Goods sector, categorized under the General Contractors industry.
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