Several commodity companies were upgraded by analysts Monday, including RRI Energy, Inc. (GEN), The Mosaic Company (MOS), NRG Energy, Inc. (NRG), Rosetta Resources Inc. (ROSE), Schlumberger (SLB), Valero Energy Co. (VLO) and Whiting Petroleum Co. (WLL).
Macquarie upgraded RRI Energy, Inc. (GEN) from a "Neutral" rating to an "Outperform" rating.
UBS AG (NYSE: UBS) upgraded RRI Energy, Inc. (GEN) from a "Neutral" rating to a "Buy" rating.
Barclays Capital upgraded RRI Energy, Inc. (GEN) from an "Equalweight" rating to an "Overweight" rating.
Citigroup (NYSE: C) upgraded The Mosaic Company (MOS) from a "Neutral" rating to a "Buy" rating. They raised their price from $62.00 $66.00 on the company.
Barclays Capital upgraded NRG Energy, Inc. (NRG) from an "Equalweight" rating to an "Overweight" rating.
Tudor Pickering upgraded Rosetta Resources Inc. (ROSE) from a "Hold" rating to a "Buy" rating.
Argus upgraded Schlumberger (SLB) from a "Hold" rating to a "Buy" rating. They placed a price target of $85.00 on the company.
UBS upgraded AG Valero Energy Co. (VLO) from a "Neutral" rating to a "Buy" rating.
Susquehanna upgraded Whiting Petroleum Co. (WLL) "Neutral" rating to a "Positive" rating.
Showing posts with label RRI Energy. Show all posts
Showing posts with label RRI Energy. Show all posts
Monday, July 23, 2012
Tuesday, October 26, 2010
Citigroup (NYSE:C) Upgrades RRI Energy (NYSE:RRI) on Long-term Outlook
Although Citigroup's Brian Chin didn't have a lot of good to say in the near term about RRI Energy (NYSE:RRI), over the long term he does believe the company will perform better, and raised his rating on them from "Hold" to "Buy."
Chin said:
"We project forward capacity prices will move higher because of increasingly restrictive EPA policies for power plants. This will tighten power supply in the Pennsylvania/Jersey/Maryland region, causing capacity prices to rise over the next 2-3 auctions. Catalysts for our thesis: The EPA will finalize its SO2 and Hazardous Air Pollutants rules over the next 12-18 months. RRI Energy is the most levered name to this dynamic, because it has no regulated utility to dilute its earnings.
"We continue to be bearish forward natural gas prices, and RRI remains levered to natural gas prices. The annual capacity auction takes place in May 2011, and even our forecast expects capacity prices to be relatively flattish next year. Our RRI upgrade then, is clearly more of a long term call on our part."
RRI closed Monday at $3.55, gaining $0.03, or 0.85 percent. Citi has a price target of $5.50 on the company.
Chin said:
"We project forward capacity prices will move higher because of increasingly restrictive EPA policies for power plants. This will tighten power supply in the Pennsylvania/Jersey/Maryland region, causing capacity prices to rise over the next 2-3 auctions. Catalysts for our thesis: The EPA will finalize its SO2 and Hazardous Air Pollutants rules over the next 12-18 months. RRI Energy is the most levered name to this dynamic, because it has no regulated utility to dilute its earnings.
"We continue to be bearish forward natural gas prices, and RRI remains levered to natural gas prices. The annual capacity auction takes place in May 2011, and even our forecast expects capacity prices to be relatively flattish next year. Our RRI upgrade then, is clearly more of a long term call on our part."
RRI closed Monday at $3.55, gaining $0.03, or 0.85 percent. Citi has a price target of $5.50 on the company.
Tuesday, September 21, 2010
Citigroup (NYSE:C) Says Comverge Likely (Nasdaq:COMV) Target
The recent announcement that Constellation Energy (NYSE:CEG) would be acquiring CPower has Citigroup (NYSE:C) thinking Comverge (Nasdaq:COMV) could very well become a takeover target.
Comverge has plummeted in value in just a couple short months, dropping at times almost 40 percent since the latter part of July.
The inability to control operating costs has been the major problem with Comverge, and if a company were to acquire them with the will and ability to cut costs, said Citigroup, they would probably be able to turn that around.
Possible suitors according to Citi are Progress Energy (NYSE:PGN), RRI (NYSE:RRI), Allegheny Energy (NYSE:AYE), Calpine (NYSE:CPN), or even Constellation Energy.
Citi maintains their "Hold" rating on Comverge, while dropping their price target from $13 to $8 a share. Comverge closed Monday at $6.90, gaining $0.30, or 4.55 percent.
Volume was almost four times the 3-month average of 153,639, ending the day at 605,402.
Comverge has plummeted in value in just a couple short months, dropping at times almost 40 percent since the latter part of July.
The inability to control operating costs has been the major problem with Comverge, and if a company were to acquire them with the will and ability to cut costs, said Citigroup, they would probably be able to turn that around.
Possible suitors according to Citi are Progress Energy (NYSE:PGN), RRI (NYSE:RRI), Allegheny Energy (NYSE:AYE), Calpine (NYSE:CPN), or even Constellation Energy.
Citi maintains their "Hold" rating on Comverge, while dropping their price target from $13 to $8 a share. Comverge closed Monday at $6.90, gaining $0.30, or 4.55 percent.
Volume was almost four times the 3-month average of 153,639, ending the day at 605,402.
Tuesday, September 7, 2010
Alliant Energy (NYSE:LNT), RRI Energy (NYSE:RRI) Upgraded by Macquarie, Bank of America (NYSE:BAC)
Continuing to receive a lot of attention, the energy sector has been receiving a number of upgrades and downgrades recently, and on the upgrade side, Alliant Energy (NYSE:LNT) and RRI Energy (NYSE:RRI) got a boost from Macquarie and Bank of America (NYSE:BAC).
Macquarie upgraded Alliant Energy (NYSE:LNT) from "Neutral" to "Outperform," while Bank of America upgraded RRI from "Neutral" to "Buy."
Alliant Energy Corporation, which engages in electric and gas utility businesses in the United States, was at $35.77, down $0.07, or 0.20 percent as of 3:35 PM EDT.
RRI Energy, Inc., which provides energy, capacity, ancillary, among other energy services to wholesale customers in power generation markets in the United States, dropped to $3.66, losing $0.08, or 2.01% percent, at 3:36 PM EDT.
Macquarie upgraded Alliant Energy (NYSE:LNT) from "Neutral" to "Outperform," while Bank of America upgraded RRI from "Neutral" to "Buy."
Alliant Energy Corporation, which engages in electric and gas utility businesses in the United States, was at $35.77, down $0.07, or 0.20 percent as of 3:35 PM EDT.
RRI Energy, Inc., which provides energy, capacity, ancillary, among other energy services to wholesale customers in power generation markets in the United States, dropped to $3.66, losing $0.08, or 2.01% percent, at 3:36 PM EDT.
Tuesday, April 13, 2010
RRI Energy (NYSE:RRI), Mirant Corp. (NYSE:MIR) Closing Deal
Mirant Corp. and RRI Energy Inc. Merger
The merger between RRI Energy (NYSE:RRI) and Mirant Corp. (NYSE:MIR) has generated a lot of interest, and the companies said the deal should close before the end of 2010.
After the deal is completed, Mirant Corp. and RRI Energy Inc. will become among the largest independent energy companies in the U.S.
Much of the impetus for making the deal was in relationship to controlling costs, at least over the short term.
As far as the benefits of making the deal for cost savings, it is estimated the combined company will cut costs by $150 million on an annual basis, while needing to spend about $125 million one time to bring it all together.
The merger between RRI Energy (NYSE:RRI) and Mirant Corp. (NYSE:MIR) has generated a lot of interest, and the companies said the deal should close before the end of 2010.
After the deal is completed, Mirant Corp. and RRI Energy Inc. will become among the largest independent energy companies in the U.S.
Much of the impetus for making the deal was in relationship to controlling costs, at least over the short term.
As far as the benefits of making the deal for cost savings, it is estimated the combined company will cut costs by $150 million on an annual basis, while needing to spend about $125 million one time to bring it all together.
Sunday, April 11, 2010
Mirant (NYSE:MIR), RRI Energy (NYSE:RRI) Merging
Mirant Corp. and RRI Energy Merge
In what will become one of the largest independent energy companies in America, Mirant Corp. (NYSE:MIR) and RRI Energy (NYSE:RRI) are merging in a stock-swap deal worth $1.61 billion.
Once the merger is completed the two companies will take on the new name of GenOn Energy, with Mirant Ceo and Chairman Edward R. Muller leading the company through 2013. At that time he will retire and the current CEO and president of RRI, Mark M. Jacobs, will take the reins from there.
Until then, Jacobs will be the president of the new company and chief operating officer and director as well.
Terms of the deal are Mirant shareholders will receive 2.835 RRI common shares for each share of Mirant they hold. The share swap will be based on the closing price of RRI on Friday April 9 of $3.95. At that price Mirant is valued at $1.61 billion.
At close shareholders of Mirant will own 54 percent of the new company while RRI Energy shareholders will hold the other approximate 46 percent.
In what will become one of the largest independent energy companies in America, Mirant Corp. (NYSE:MIR) and RRI Energy (NYSE:RRI) are merging in a stock-swap deal worth $1.61 billion.
Once the merger is completed the two companies will take on the new name of GenOn Energy, with Mirant Ceo and Chairman Edward R. Muller leading the company through 2013. At that time he will retire and the current CEO and president of RRI, Mark M. Jacobs, will take the reins from there.
Until then, Jacobs will be the president of the new company and chief operating officer and director as well.
Terms of the deal are Mirant shareholders will receive 2.835 RRI common shares for each share of Mirant they hold. The share swap will be based on the closing price of RRI on Friday April 9 of $3.95. At that price Mirant is valued at $1.61 billion.
At close shareholders of Mirant will own 54 percent of the new company while RRI Energy shareholders will hold the other approximate 46 percent.
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