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Stock Market & Financial Investment News

News Breaks
March 12, 2013
08:07 EDTKMI, BRK.A, CNI, ENB, CP, TRPCanada, Keystone can learn from Buffett's BNSF railroad, WSJ reports
If you want to get a sense of what's going to happen with Canadian oil amid TransCanada's (TRP) Keystone XL pipeline battle, see Warren Buffett's (BRK.A) latest letter, reports the Wall Street Journal's "Heard on the Street." Buffett writes that his BNSF railroad company now transports 500,000 barrels of oil a day. Much is from the Bakken shale, where production growth has outpaced pipelines. The resulting local glut led the discount between Bakken oil and Brent crude to surge beyond $45 a barrel a year ago (narrowed now to $19). BNSF has driven its trains through that price gap, enabling Bakken producers to get their barrels to customers rather than slow production. Canadian oil producers face a tougher battle. Western Canadian Select is a relatively heavy grade of oil, so it should be cheaper than a lighter benchmark like Brent. But the discount, now $38 a barrel, owes much to transportation bottlenecks. The Canadian Association of Petroleum Producers forecasts production from Western Canada will hit 5.5M barrels a day by 2020, about double 2011's output. The bottom line: If Keystone doesn't get built, those ambitions will likely have to be scaled back. Reference Link
News For A;TRP;ENB;KMI;CP;CNI From The Last 14 Days
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June 30, 2015
08:09 EDTCP, CNIRail estimates need to come down further, says Citi
Citi analyst Christian Wetherbee noted that consensus estimates in the rail sector for Q2 EPS have fallen an average of 8% since the firm moved below consensus last month, but believes the numbers have to come down further. Wetherbee cut his Q2 estimates by another 5%, lowered Q3 by 4% and cut his forecast for 2016 EPS by 3% and lowered price targets on stocks in the space by 6% on average. Wetherbee added that he believes Union Pacific (UNP) and Norfolk Southern (NSC) have the highest the pre-announcement risk in the group and lowered his targets on those stocks, as well as for Canadian National (CNI), Canadian Pacific (CP), CSX (CSC) and Kansas City Southern (KSU).
June 29, 2015
09:08 EDTTRPTransCanada announces Coastal GasLink signs project agreements
TransCanada announced its Coastal GasLink Pipeline Project has signed project agreements with Wet'suwet'en First Nation, Skin Tyee Nation, Nee-Tahi-Buhn Band, Yekooche First Nation, Doig River First Nation, and Halfway River First Nation, all of northern B.C. These agreements are a positive step for the project and these First Nations, whose traditional and treaty territories are located along the proposed Coastal GasLink natural gas pipeline route. The project agreements include various financial and other benefits related to the pipeline project. The agreements are part of the Coastal GasLink's long-term, comprehensive approach to working with Aboriginal groups on opportunities related to B.C.'s emerging liquefied natural gas industry, including developing skills training, employment and utilizing Aboriginal businesses in contracting opportunities.
June 24, 2015
15:47 EDTKMIBankers see Energy Transfer having upper hand for Williams, dealReporter says
Energy industry bankers believe Energy Transfer Equity (ETE) has a good chance of winning its hostile bid for Williams (WMB), with one guessing Williams is likely to sell at a higher offer, but still to Energy Transfer, and another believing Energy Transfer will likely have to tweak the offer terms to change Williamsí mind, said dealReporter, according to contacts. Both bankers referenced in the report said other suitors are likely to emerge, with Kinder Morgan (KMI) and Enterprise Products Partners (EPD) named as being "equally capable" of pursuing a deal.
June 23, 2015
16:54 EDTTRPTransCanada cuts 185 jobs, Reuters says
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June 22, 2015
17:04 EDTKMIOn The Fly: Top stock stories for Monday
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10:14 EDTCNIKansas City Southern could yield synergies for Canadian National, says Cowen
Cowen said Canadian National (CNI) has been increasing its presence and service offerings in the U.S. Gulf coast and a merger with Kansas City Southern (KSU) could increase competitiveness and result in substantial revenue synergies. The firm said Kansas City Southern trades at a 25% premium to the rail group and any merger would involve a great amount of political risk and has no reason to believe the company is contemplating such a move.
08:47 EDTKMIKinder Morgan not likley to bid Williams, says Credit Suisse
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June 19, 2015
07:35 EDTENBEnbridge agrees to transfer Canadian Mainline to Enbridge Income Fund for $30.4B
Enbridge has reached agreement with Enbridge Income Fund to transfer its Canadian Liquids Pipelines Business, held by Enbridge Pipelines, or EPI, and Enbridge Pipelines Athabasca, or EPA, and certain Canadian renewable energy assets to the Fund for consideration payable at closing valued at $30.4B. The Transaction is subject to customary regulatory approvals and closing conditions, as well as a vote of the public shareholders of Enbridge Income Fund Holdings, which is expected to occur in August. The Transaction is a key component of Enbridge's Financial Strategy Optimization introduced in December of last year which included an increase in the company's targeted dividend payout. It advances the company's sponsored vehicle strategy and supports Enbridge's previously announced 33 percent dividend increase in 2015 and expected annual average dividend per share, or DPS, growth of 14%-16% from 2016 through to 2018. It also positions Enbridge to extend its industry leading DPS growth beyond 2018. The Transaction is expected to provide Enbridge with an alternate source of funding for its enterprise wide growth initiatives and enhance its competitiveness for new organic growth opportunities and asset acquisitions. In conjunction with the execution of the Transaction, Enbridge will commence employing supplemental cash flow metrics as part of its normal course quarterly reporting of financial performance and in its guidance. Among other measures, management also expects to utilize available cash flow from operations, or ACFFO, as defined under Non-GAAP Measures below, to assess the performance of its base business and expected growth program as well as its dividend outlook. ACFFO is currently expected to grow at a compound average annual rate of approximately 18% from 2014-2018, inclusive of the impacts of the Transaction. Going forward, the company will express its dividend payout range as a percentage of ACFFO rather than adjusted earnings. The target dividend payout policy range will be 40%-50% of ACFFO, which is approximately equivalent to the previous payout range of 75%-85% of adjusted earnings. The Transaction will significantly increase the Fund's scale and scope and create a transparent source of long-term growth driven by the $15B low risk, commercially secured growth program embedded within the transferred business, $2B of which is already in service. ENF's dividend is expected to be increased by approximately 10% on closing and by an expected further 10% at the beginning of 2016 and each year thereafter through 2019.
07:31 EDTENBEnbridge agrees to transfer Canadian Mainline to Enbridge Income Fund for $30.4B
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June 17, 2015
20:02 EDTKMIKinder Morgan CEO Kean, chairman Kinder purchased 212K shares, Barron's says
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15:36 EDTCNICanadian National signs memorandum of understanding with Port of New Orleans
Canadian National signed a memorandum of understanding with the Port of New Orleans that will see the parties develop additional supply chain efficiencies aimed at drawing more container traffic over the port to North American markets. JJ Ruest, Canadian's EVP and Chief Marketing Officer, said, "We and our Port of New Orleans gateway partners have a mutual interest in ensuring a more competitive rail movement of containerized goods through the gateway and into the Midwest and mid-continent... The expanded Panama Canal is expected to offer greater freight traffic opportunities to the ports of New Orleans and Mobile. Our plan to implement level-of-service agreements at these two ports and raise their involvement in rail transportation should help them take advantage of rising container trade with Asia and South America." The Port of New Orleans has an intermodal rail terminal adjacent to its Napoleon Avenue Container Terminal providing on-dock access for all rail shipments. The new Mississippi River Intermodal Terminal is currently under construction. The $25M project, planned for completion in 1Q16, will result in a more efficient container transfer terminal located within the container yard, offering on-dock access and improving Canadian's link to the terminal and helping grow its container volumes, as claimed by the company.
08:45 EDTABofA/Merrill life sciences analysts hold an analyst/industry conference call
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08:32 EDTAAgilent to participate in a conference call with Janney Capital
Janney Capital hosts a conference call with Agilent Technologies' President & CEO, Michael McMullen, on June 17 at 12 pm.
June 16, 2015
18:14 EDTCPCanadian Pacific plans to purchase up to 853K shares through going private deals
Canadian Pacific announced that it intends to purchase for cancellation up to 853,000 of its common shares pursuant to private agreements to be entered into between CP and three arm's-length third-party sellers. Purchases will be made in accordance with three issuer bid exemption orders issued by the Ontario Securities Commission each dated June 16, and pursuant to the Orders, may be made in several transactions prior to March 17, 2016. The price CP will pay for its common shares purchased by way of private agreements will be at a discount to the prevailing market price of CP common shares on the Toronto Stock Exchange at the time of purchase. Purchases made by CP will be counted towards CP's normal course issuer bid announced on March 16, 2015 for up to 9.14M CP common shares and will not exceed, in aggregate, one third of the maximum number of common shares CP may purchase under the Bid, being 3.05M common shares.
10:01 EDTKMIOn The Fly: Analyst Initiation Summary
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10:01 EDTCNIOn The Fly: Analyst Upgrade Summary
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07:41 EDTCP, CNIRail sector risk/reward attractive, but patience required, says UBS
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07:13 EDTKMIKinder Morgan initiated with a Buy at SunTrust
Target $48.
06:43 EDTCNICanadian National upgraded to Outperform from Market Perform at Raymond James
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