Enbridge Energy Partners LP (EEP), Enbridge Energy Management, L.L.C. (EEQ), NuStar Energy L.P. (NS), Plains All American (PAA), CRH PLC (CRH), Genesco (GCO) and Rowan Companies, Inc. (RDC) had ratings and price targets initiated or adjusted by analysts.
Goldman Sachs upgraded Enbridge Energy Partners LP (EEP) from a "Sell" rating to a "Neutral" rating.
Goldman Sachs upgraded Enbridge Energy Management, L.L.C. (EEQ) from a "Sell" rating to a "Neutral" rating.
Goldman Sachs upgraded NuStar Energy L.P. (NS) from a "Sell" rating to a "Neutral" rating.
Goldman Sachs upgraded Plains All American (PAA) from a "Neutral" rating to a "Buy" rating.
Deutsche Bank downgraded CRH PLC (CRH) from a "Buy" rating to a "Hold" rating.
CL King downgraded Genesco (GCO) from a "Buy" rating to a "Neutral" rating.
Pritchard upgraded Rowan Companies, Inc. (RDC) from a "Neutral" rating to a "Buy" rating.
Showing posts with label Enbridge Energy. Show all posts
Showing posts with label Enbridge Energy. Show all posts
Wednesday, February 29, 2012
Tuesday, February 21, 2012
Enbridge (ENB) (APC) (ED) (AEIS) (BRCM) (NSC) Ratings, Price Targets
Enbridge Inc. (ENB), Anadarko Petroleum (APC), Consolidated Edison, Inc. (ED), Advanced Energy Industries, Inc. (AEIS), Broadcom Corp (BRCM) and Norfolk Southern Corp. (NSC) had ratings and price targets on them adjusted by analysts.
JPMorgan Chase & Co. downgraded Anadarko Petroleum (APC) from an "Overweight" rating to a "Neutral" rating.
Caris & Co. initiated coverage on Consolidated Edison, Inc. (ED). They placed an "Average" rating on the company.
Desjardins upgraded Enbridge Inc. (ENB) from a "Hold" rating to a "Buy" rating.
Citigroup upgraded Advanced Energy Industries, Inc. (AEIS) from a "Neutral" rating to a "Buy" rating.
Auriga upgraded Broadcom (BRCM) from a "Hold" rating to a "Buy" rating.
JPMorgan Chase & Co. downgraded Norfolk Southern Corp. (NSC) from an "Overweight" rating to a "Neutral" rating.
JPMorgan Chase & Co. downgraded Anadarko Petroleum (APC) from an "Overweight" rating to a "Neutral" rating.
Caris & Co. initiated coverage on Consolidated Edison, Inc. (ED). They placed an "Average" rating on the company.
Desjardins upgraded Enbridge Inc. (ENB) from a "Hold" rating to a "Buy" rating.
Citigroup upgraded Advanced Energy Industries, Inc. (AEIS) from a "Neutral" rating to a "Buy" rating.
Auriga upgraded Broadcom (BRCM) from a "Hold" rating to a "Buy" rating.
JPMorgan Chase & Co. downgraded Norfolk Southern Corp. (NSC) from an "Overweight" rating to a "Neutral" rating.
Monday, November 1, 2010
Has Enbridge Energy (NYSE:EEP) Finally Turned the Corner?
After reputation problems results from the pipeline spills, Barclays (NYSE:BCS) sees Enbridge Energy Partners (NYSE:EEP) as having turned the corner, maintaining their "Equalweight" on them while raising the price target.
Barclays said, "Turning the corner following pipeline spills. Combining better-than-expected 3Q results, a restart of Lines 6A and 6B, expected accretion from the Elk City acquisition and reaffirmation of distribution growth guidance, we feel EEP has turned the corner following the pipeline spills. While EEP will likely have a few messy accounting quarters and higher '11 maintenance capex, the spill overhang is largely removed, in our opinion."
Since the middle of September Enbridge has rebounded in share price nicely.
They closed Friday at $61.49, dropping $0.09, or 0.15 percent. Barclays raised their price target from $58 to $62 on Enbridge.
For earnings per share, that was adjusted for FY11 EPS from $2.72 to $2.92 and FY12 from $3.00 to $3.05.
Barclays said, "Turning the corner following pipeline spills. Combining better-than-expected 3Q results, a restart of Lines 6A and 6B, expected accretion from the Elk City acquisition and reaffirmation of distribution growth guidance, we feel EEP has turned the corner following the pipeline spills. While EEP will likely have a few messy accounting quarters and higher '11 maintenance capex, the spill overhang is largely removed, in our opinion."
Since the middle of September Enbridge has rebounded in share price nicely.
They closed Friday at $61.49, dropping $0.09, or 0.15 percent. Barclays raised their price target from $58 to $62 on Enbridge.
For earnings per share, that was adjusted for FY11 EPS from $2.72 to $2.92 and FY12 from $3.00 to $3.05.
Tuesday, October 12, 2010
BP (NYSE:BP) Toledo Plant Restart Pushes Spot Gasoline Prices Down
The restarting of BP's (NYSE:BP) alkylation unit at its Toledo, Ohio, refinery lowered the price of spot gasoline in the region.
Operations at the plant were shuttered for maintenance, which normally produces about 160,000 barrels-a-day on average.
BP decided to do maintenance after the pipeline of Enbridge Energy Partners LP (NYSE:EEP) was closed.
The unit produces 87-octane gasoline, which shrunk in Chicago by 6.5 cents a gallon, or 0.5 percent. In Group 3, or the Midwest, the spread fell by 2.63 cents a gallon, or 0.5 percent there as well.
Operations at the plant were shuttered for maintenance, which normally produces about 160,000 barrels-a-day on average.
BP decided to do maintenance after the pipeline of Enbridge Energy Partners LP (NYSE:EEP) was closed.
The unit produces 87-octane gasoline, which shrunk in Chicago by 6.5 cents a gallon, or 0.5 percent. In Group 3, or the Midwest, the spread fell by 2.63 cents a gallon, or 0.5 percent there as well.
Monday, September 13, 2010
Citigroup (NYSE:C): No Estimates on When Enbridge (NYSE:EEP) Pipeline to Restart
A deadline from the Environmental Protection Agency has passed, and the Enbridge (NYSE:EEP) pipeline transporting oil from Canada across the U.S. remains closed.
Consequently, the price of oil soared to its highest level since August 11, increasing $1.59 to $78.04 early in the trading session at the New York Mercantile Exchange.
Citigroup analyst Tim Evans in a note, "The petroleum markets were trading higher in early going Monday, with support coming from a stronger equity market, a weaker U.S. dollar, and ongoing concerns regarding the Enbridge pipeline outage as there were still no estimates on how long the disruption of Midwest crude oil deliveries will last."
Workers are getting ready to cut the section of the pipeline which caused the leak and replace it.
Over 6,000 barrels of oil have leaked from the pipe.
Consequently, the price of oil soared to its highest level since August 11, increasing $1.59 to $78.04 early in the trading session at the New York Mercantile Exchange.
Citigroup analyst Tim Evans in a note, "The petroleum markets were trading higher in early going Monday, with support coming from a stronger equity market, a weaker U.S. dollar, and ongoing concerns regarding the Enbridge pipeline outage as there were still no estimates on how long the disruption of Midwest crude oil deliveries will last."
Workers are getting ready to cut the section of the pipeline which caused the leak and replace it.
Over 6,000 barrels of oil have leaked from the pipe.
EPA Tells Enbridge (NYSE:EEP) to End Leak by Noon Monday
The EPA has directed Enbridge Energy Partners (NYSE:EEP) that they have until Monday noon to stop the leaking oil from their pipeline in a Chicago suburb.
Terri Larson, a spokesman for Enbridge, said, "The leak site itself is contained but oil is continuing to drain out of the pipeline. As that oil drains out crews are cleaning it up."
Crews have been working day and night to clean up the draining oil.
The leak was discovered on Thursday in Romeoville, a Chicago suburb, and the pipeline the leak was coming from was shut down in response.
According to Terrance McGill, President of the Partnership, no new oil is "reaching the roadway, the nearby ditch or the retention pond."
Terri Larson, a spokesman for Enbridge, said, "The leak site itself is contained but oil is continuing to drain out of the pipeline. As that oil drains out crews are cleaning it up."
Crews have been working day and night to clean up the draining oil.
The leak was discovered on Thursday in Romeoville, a Chicago suburb, and the pipeline the leak was coming from was shut down in response.
According to Terrance McGill, President of the Partnership, no new oil is "reaching the roadway, the nearby ditch or the retention pond."
Wednesday, September 8, 2010
Enbridge (NYSE:ENB) Building BP (NYSE:BP), Husky (TSE:HSE) Project Pipeline
Enbridge Inc. (NYSE:ENB) has landed the deal to build a pipeline for BP (NYSE:BP) and Husky Energy Inc (TSE:HSE) to transport oil from their Sunrise Oil Sands project.
The largest pipeline builder in the oil sands region, this deal for Enbridge will bring them $456 million, for the 70-mile long line. It will extend from the project site to its Cheecham terminal.
Estimates are the pipeline will be completed by 2013, and will start carrying approximately 90,000 barrels a day, but ultimately will transport 270,000 barrels a day, as production at the site increases.
To meet the growing supply, Enridge also has plans to increase the number of tanks to store the oil at the terminal.
Increasing oil production in the region is helping Enbridge land more jobs, as they're going to expand a line for Cenovus Energy Inc. (NYSE:CVE) at C$185 million, and also will construct another line for Suncor Energy Inc. (NYSE:SU), getting paid C$370 for that job.
The largest pipeline builder in the oil sands region, this deal for Enbridge will bring them $456 million, for the 70-mile long line. It will extend from the project site to its Cheecham terminal.
Estimates are the pipeline will be completed by 2013, and will start carrying approximately 90,000 barrels a day, but ultimately will transport 270,000 barrels a day, as production at the site increases.
To meet the growing supply, Enridge also has plans to increase the number of tanks to store the oil at the terminal.
Increasing oil production in the region is helping Enbridge land more jobs, as they're going to expand a line for Cenovus Energy Inc. (NYSE:CVE) at C$185 million, and also will construct another line for Suncor Energy Inc. (NYSE:SU), getting paid C$370 for that job.
Monday, July 26, 2010
Enbridge Energy (NYSE:EEP) Beats Earnings, Revenue Estimates
Enbridge Energy (NYSE:EEP) announced second-quarter profits after the markets closed on Friday, reporting earnings and profits significantly above analysts' estimates.
Earnings for the oil and gas pipeline operator increased to $0.85 a share, against expectations of $0.71. Revenue also surpassed projections, reaching $1.75 billion; $14 million above the $1.61 billion being looked for.
With revenue close to level, it points to the cost-cutting measures put in place by the company as to its earnings performance.
On the revenue side, the liquids unit led the way, with growth in that segment increasing 60 percent to $167.8 million, up from the $104.8 million last year in the same quarter.
The gas division on the other hand fell 27 percent to $38.8 million, down from $52.8 million in 2009. Lower gas volume was the major reason behind that, along with lower NGL as well.
Earnings for the oil and gas pipeline operator increased to $0.85 a share, against expectations of $0.71. Revenue also surpassed projections, reaching $1.75 billion; $14 million above the $1.61 billion being looked for.
With revenue close to level, it points to the cost-cutting measures put in place by the company as to its earnings performance.
On the revenue side, the liquids unit led the way, with growth in that segment increasing 60 percent to $167.8 million, up from the $104.8 million last year in the same quarter.
The gas division on the other hand fell 27 percent to $38.8 million, down from $52.8 million in 2009. Lower gas volume was the major reason behind that, along with lower NGL as well.
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