IAMGOLD Corp (IAG), AK Steel Holding Co. (AKS), Chesapeake Energy (CHK), Copano Energy, L.L.C. (CPNO), Hess Corp (HES), ArcelorMittal (MT) and Exxon Mobil (XOM) had ratings on them adjusted by analysts.
Macquarie upgraded AK Steel Holding Co. (AKS) from an Underperform rating to a Neutral rating.
Stifel Nicolaus upgraded Chesapeake Energy (CHK) from a Hold rating to a Buy rating.
Societe Generale upgraded IAMGOLD Corp. (IAG) from a Sell rating to a Hold rating.
RBC Capital downgraded Copano Energy, L.L.C. (CPNO) from an Outperform rating to a Sector Perform rating.
Capital One downgraded Hess Corp. (HES) from an Add rating to a Neutral rating.
HSBC downgraded ArcelorMittal (MT) from a Neutral rating to an Underweight rating.
Macquarie downgraded Exxon Mobil (XOM) from an Outperform rating to a Neutral rating.
Showing posts with label Copano Energy. Show all posts
Showing posts with label Copano Energy. Show all posts
Wednesday, January 30, 2013
Tuesday, October 19, 2010
Copano Energy (Nasdaq:CPNO) Distribution Rates Slowing
Saying the slower distribution rates of Copano Energy (Nasdaq:CPNO), they should underperform their peers, said Barclays (NYSE:BCS), which downgraded them from "Overweight" to "Equalweight."
"We downgrade CPNO due to slower distribution growth prospects compared to its Overweight rated peers: Given expected tight distribution coverage in 2010 and 2011 we estimate CPNO will leave its distribution flat and resume growth at 2-5% level in 2012-2014, based on our assumption that it can successfully deploy $150-200 mm of growth capital per year at 5x return multiple. While this requires strong execution skill, which CPNO has demonstrated in the past, we note that CPNO's growth forecast falls below our Overweight rated G&P MLPs that have either started to raise distribution or should be in a position to raise distribution in 2011 and beyond by 5-10% range," said Barclays.
Earnings per share estimates were lowered by Barclays for FY11 from $0.06 to -$0.09 and FY12 from $0.46 to $0.26.
Morgan Keegan also downgraded them from "Outperform" to "Market Perform."
Copano closed at $28.76, falling $0.80, or 2.71 percent.
"We downgrade CPNO due to slower distribution growth prospects compared to its Overweight rated peers: Given expected tight distribution coverage in 2010 and 2011 we estimate CPNO will leave its distribution flat and resume growth at 2-5% level in 2012-2014, based on our assumption that it can successfully deploy $150-200 mm of growth capital per year at 5x return multiple. While this requires strong execution skill, which CPNO has demonstrated in the past, we note that CPNO's growth forecast falls below our Overweight rated G&P MLPs that have either started to raise distribution or should be in a position to raise distribution in 2011 and beyond by 5-10% range," said Barclays.
Earnings per share estimates were lowered by Barclays for FY11 from $0.06 to -$0.09 and FY12 from $0.46 to $0.26.
Morgan Keegan also downgraded them from "Outperform" to "Market Perform."
Copano closed at $28.76, falling $0.80, or 2.71 percent.
Tuesday, July 13, 2010
Copano Energy (Nasdaq:CPNO) Downgraded by UBS AG (NYSE:UBS)
Copano Energy (Nasdaq:CPNO), which is in the business of providing natural gas companies with services like natural gas gathering, fractionation, treating and transportation, was downgraded by UBS today (NYSE:UBS) from "Buy" to "Neutral."
Earnings per share estimates for the second quarter were also lowered by UBS for Copano, dropping from $0.10 a share to $0.05 a share, based on commodity prices.
The price target on the other hand was upped slightly from $25.50 50 $26.
UBS feels the shares are fairly valued, after recently outperforming. Today at 1:11 PM EDT, shares were at $27.83.
Earnings per share estimates for the second quarter were also lowered by UBS for Copano, dropping from $0.10 a share to $0.05 a share, based on commodity prices.
The price target on the other hand was upped slightly from $25.50 50 $26.
UBS feels the shares are fairly valued, after recently outperforming. Today at 1:11 PM EDT, shares were at $27.83.
Wednesday, July 7, 2010
SM Energy (NYSE:SM) Lands Gas Services Agreement with Eagle Ford Gathering
SM Energy (NYSE:SM) and Eagle Ford Gathering, a joint venture between Copano Energy (Nasdaq:CPNO) and Kinder Morgan Energy Partners, L.P. (NYSE:KMP), have entered a 10-year gas services agreement, where SM Energy will produce 200,000 million British thermal units per day of Eagle Ford Shale natural gas.
For Eagle Ford's part of the deal, they'll offer gathering, transportation and processing services.
Eagle will build a pipeline for the purpose of collecting and transporting gas, which will flow through Kinder Morgan’s Laredo-to-Katy pipeline to Copano’s Houston Central plant. There the gas will be processed.
For the first phase of the project, Eagle will spend about $137 million, while SM Energy won't have to spend any upfront capital, as it is a fee-based deal on their part.
For Eagle Ford's part of the deal, they'll offer gathering, transportation and processing services.
Eagle will build a pipeline for the purpose of collecting and transporting gas, which will flow through Kinder Morgan’s Laredo-to-Katy pipeline to Copano’s Houston Central plant. There the gas will be processed.
For the first phase of the project, Eagle will spend about $137 million, while SM Energy won't have to spend any upfront capital, as it is a fee-based deal on their part.
Monday, April 5, 2010
Copano Energy (Nasdaq:CPNO) Names James E. Wade President and Chief Operating Officer of Texas Operating Segment
Copano Energy (Nasdaq:CPNO), L.L.C. today announced that James E. Wade has been appointed Senior Vice President of Copano and President and Chief Operating Officer of the Company's Texas operating segment subsidiaries, effective April 5, 2010. In this role, Mr. Wade will report to R. Bruce Northcutt, Copano's President and Chief Executive Officer, and will assume Mr. Northcutt's responsibilities for the day-to-day operating activities and business initiatives in Texas.
"Jim is an outstanding addition to our company," said Mr. Northcutt. "He brings to Copano a deep background in midstream management, including significant experience in business development and natural gas and natural gas liquids marketing. His qualifications and experience make him well-suited to lead our growth initiatives in Texas, where drilling and development activity is increasing and Copano is making strategic investments to create additional value for its unitholders. We are pleased to welcome Jim to the Copano team."
Mr. Wade joins Copano with over 25 years of commercial business development, gas supply and marketing experience in the energy industry. Most recently, Mr. Wade served as Vice President, Gas Supply, Marketing and Business Development for Southern Union Gas Services, a subsidiary of Southern Union Company . In this role, he was responsible for managing the business development group for the midstream business unit as well as managing the gas supply and natural gas and natural gas liquids marketing departments. Previously, until it was acquired by Southern Union Gas Services in 2006, he served as Vice President of Sid Richardson Energy Services. Mr. Wade joined Sid Richardson in 1998 and played an integral role in developing and executing a strategic plan that enabled it to grow from $150 million to $1.6 billion in midstream assets. From 1994 to 1998, Mr. Wade served as Vice President of Aquila Gas Pipeline Corporation. He began his career at Tenneco, where he held various roles. Mr. Wade received a Bachelors Degree in Business Administration from the University of Texas and serves as Chairman of the Texas Pipeline Association.
Houston-based Copano Energy, L.L.C. is a midstream natural gas company with operations in Oklahoma, Texas, Wyoming and Louisiana. Its assets include approximately 6,200 miles of active natural gas gathering and transmission pipelines, 200 miles of NGL pipelines and seven natural gas processing plants, with over one Bcf per day of combined processing capacity. For more information please visit www.copanoenergy.com.
This press release includes "forward-looking statements," as defined by the Securities and Exchange Commission. Forward-looking statements address activities or developments that Copano believes will or may occur in the future. These statements are based on management's experience and perception of historical trends, current conditions, expected future developments and other factors management believes are appropriate in the circumstances. Such statements are subject to a number of risks and uncertainties, many of which are beyond Copano's control, including the volatility of prices and market demand for natural gas and natural gas liquids; Copano's ability to continue to obtain new sources of natural gas supply; the ability of key producers to continue to drill and successfully complete and attach new natural gas supplies; Copano's ability to retain its key customers; general economic conditions; the effects of government regulations and policies; and other financial, operational and legal risks and uncertainties detailed from time to time in Copano's filings with the Securities and Exchange Commission.
"Jim is an outstanding addition to our company," said Mr. Northcutt. "He brings to Copano a deep background in midstream management, including significant experience in business development and natural gas and natural gas liquids marketing. His qualifications and experience make him well-suited to lead our growth initiatives in Texas, where drilling and development activity is increasing and Copano is making strategic investments to create additional value for its unitholders. We are pleased to welcome Jim to the Copano team."
Mr. Wade joins Copano with over 25 years of commercial business development, gas supply and marketing experience in the energy industry. Most recently, Mr. Wade served as Vice President, Gas Supply, Marketing and Business Development for Southern Union Gas Services, a subsidiary of Southern Union Company . In this role, he was responsible for managing the business development group for the midstream business unit as well as managing the gas supply and natural gas and natural gas liquids marketing departments. Previously, until it was acquired by Southern Union Gas Services in 2006, he served as Vice President of Sid Richardson Energy Services. Mr. Wade joined Sid Richardson in 1998 and played an integral role in developing and executing a strategic plan that enabled it to grow from $150 million to $1.6 billion in midstream assets. From 1994 to 1998, Mr. Wade served as Vice President of Aquila Gas Pipeline Corporation. He began his career at Tenneco, where he held various roles. Mr. Wade received a Bachelors Degree in Business Administration from the University of Texas and serves as Chairman of the Texas Pipeline Association.
Houston-based Copano Energy, L.L.C. is a midstream natural gas company with operations in Oklahoma, Texas, Wyoming and Louisiana. Its assets include approximately 6,200 miles of active natural gas gathering and transmission pipelines, 200 miles of NGL pipelines and seven natural gas processing plants, with over one Bcf per day of combined processing capacity. For more information please visit www.copanoenergy.com.
This press release includes "forward-looking statements," as defined by the Securities and Exchange Commission. Forward-looking statements address activities or developments that Copano believes will or may occur in the future. These statements are based on management's experience and perception of historical trends, current conditions, expected future developments and other factors management believes are appropriate in the circumstances. Such statements are subject to a number of risks and uncertainties, many of which are beyond Copano's control, including the volatility of prices and market demand for natural gas and natural gas liquids; Copano's ability to continue to obtain new sources of natural gas supply; the ability of key producers to continue to drill and successfully complete and attach new natural gas supplies; Copano's ability to retain its key customers; general economic conditions; the effects of government regulations and policies; and other financial, operational and legal risks and uncertainties detailed from time to time in Copano's filings with the Securities and Exchange Commission.
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