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Stock Market & Financial Investment News

News Breaks
February 28, 2014
08:57 EDTBBEPBreitBurn Energy downgraded to Neutral from Outperform at RW Baird
Baird downgraded BreitBurn Energy following the Q4 miss and tempered outlook. Price target lowered to $20 from $22.
News For BBEP From The Last 14 Days
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July 25, 2014
10:02 EDTBBEPOn The Fly: Analyst Downgrade Summary
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07:52 EDTBBEPBreitBurn Energy merger positive, says Stifel
After BreitBurn (BBEP) agreed to merger with QR Energy (QRE), Stifel thinks the deal provides BreitBurn with increased financial flexibility, possible cost synergies, and meaningful scale that can be leveraged both operationally and in the acquisition market. The firm thinks the combined entity can raise its distribution 5.5% per year. It raised its price target on BreitBurn to $24 from $21 and keeps a Buy rating on the shares.
06:54 EDTBBEPBreitBurn Energy coverage assumed with a Neutral at Credit Suisse
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06:14 EDTBBEPBreitBurn Energy downgraded to Market Perform from Outperform at Raymond James
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July 24, 2014
08:27 EDTBBEPQR Energy to host conference call
Conference call to discuss acquisition by Breitburn Energy Partners and 2Q14 earnings results will be held on July 24 at 10:30 am. Webcast Link
08:25 EDTBBEPBreitBurn Energy to host conference call
Conference call to discuss acquisition of QR Energy and 2Q14 results will be held on July 24 at 9 am. Webcast Link
06:54 EDTBBEPBreitBurn Energy sees FY14 average net daily production 19,000-20,500 Boed
06:53 EDTBBEPBreitBurn Energy sees Q3 average net daily production 20,500-21,000 Boed
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06:51 EDTBBEPBreitBurn Energy reports Q2 EPS ($1.05), may not compare to consensus 19c
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06:34 EDTBBEPBreitBurn Energy to acquire QR Energy for $3B
Breitburn Energy (BBEP) and QR Energy (QRE) signed a definitive merger agreement pursuant to which Breitburn will acquire QR Energy in a unit-for-unit exchange implying a transaction value of approximately $3.0B, including QR Energy’s existing net debt and outstanding Class C Convertible Preferred Units. As a result of the merger, Breitburn's pro forma enterprise value will be approximately $7.8B with current average daily production of approximately 57,300 boe/d, 67% liquids. The transaction is expected to be accretive to distributable cash flow per unit, and upon closing of the transaction, Breitburn has agreed to recommend to its Board a distribution increase to $2.08 per unit on an annualized basis. The transaction is expected to close in late 2014 or early 2015.

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