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June 2, 2014
14:34 EDTNEE, BTU, ACI, D, CNX, ANR, EXC, ARLP, WLT, CLDEPA proposes cut in power plant carbon emissions
As expected, the EPA announced today that it was proposing mandating a 30% cut in carbon emissions by U.S. power plants from 2005 levels by 2030. The proposal would be implemented through a state-federal partnership under which states identify a path forward using either current or new electricity production and pollution control policies to meet the goals of the proposed program, the agency added. Coal companies are expected to be significantly affected by the plan. Publicly traded companies in the space include Alliance Resource Partners (ARLP), Alpha Natural (ANR), Arch Coal (ACI), CONSOL (CNX), Cloud Peak (CLD), Peabody (BTU) and Walter Energy (WLT). Publicly traded electric utilities include Dominion (D), NextEra Energy (NEE), and Exelon (EXC).
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May 22, 2015
13:01 EDTANRAlpha Natural affiliates to downsize central Appalachian mining operations
Operating affiliates of Alpha Natural have notified employees of the expected idling of the mining and processing operations where they work. In accordance with requirements of the Worker Adjustment and Retraining Notification Act, notices were given today to 439 employees at Rockspring Development's Camp Creek Underground Mine and Processing Plant in Wayne County, West Virginia, regarding the expected idling of those facilities based on the mine operator's current assessment of market conditions. Additionally, three other Alpha-affiliated mine operators announced last week that reductions in force were taking place at their locations due to sustained weak market conditions and government regulations that have challenged the entire Central Appalachian coal industry. A total of 71 employees were impacted. These actions are being triggered by persistent weakness in U.S. and overseas coal demand and depressed price levels, along with government regulations that are causing electric utilities to close existing coal-fired power plants and forego construction of new coal-fired capacity. Excess supply of coal worldwide also has contributed to sustained price weakness.
May 21, 2015
09:23 EDTDDominion 2.8M share Spot Secondary priced at $72.10
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May 20, 2015
16:45 EDTDDominion completes planned $500M market equity issuances for 2015
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16:39 EDTDDominion files to sell 2.8M shares of common stock
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13:07 EDTANRAlpha Natural downgraded to Underperform from In-Line at Imperial Capital
Imperial Capital downgraded Alpha Natural to Underperform and reduced its price target to 40c from $1.50. The firm said Alpha can no longer access $750M in first lien basket now that the latest 12 month 1L secured leverage is greater than 2X and downgraded shares due to the significant deterioration in outlook.
May 19, 2015
15:36 EDTEXCPepco takeover by Exelon approved by Delaware regulators, Bloomberg reports
Delaware's PSC voted 3-0 in favor of approving he takeover, Bloomberg reported, citing an email statement from a spokesman for the regulator.
08:10 EDTEXCHouse Energy & Commerce Committee to hold a hearing
The Energy & Power Subcommittee holds a hearing entitled, "Discussion Draft Addressing Energy Reliability and Security" with Director Bardee of FERC, President & CEO Fanning of Southern Company, Executive Vice President Dominguez of Exelon Corp., and Vice President Heitman of ABB, Inc. on May 19 at 10 am. Webcast Link
May 18, 2015
09:36 EDTBTUActive equity options trading on open
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08:02 EDTEXCExelon, Pepco accept, pledge to fulfill conditions in merger order from MPSC
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May 15, 2015
16:51 EDTCNXGreenlight Capital gives quarterly update on stakes
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14:46 EDTEXCExelon, Pepco say MPSC approval must be 'carefully' reviewed
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13:38 EDTEXCMaryland PSC conditionally approves Exelon, Pepco merger
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12:39 EDTNEEWells identifies NextEra, Sempra as among favorite utility names
Utilities as a group have dropped in recent months and there are several names in the sector that offer relative value and exposure to secular growth trends, Wells Fargo stated in a note to investors today. WHAT'S NEW: The utilities sector is trading at a forward multiple that is 93% of the S&P 500, versus the ten year average of 102%, according to Wells. Moreover, utilities are "slightly cheap" relative to interest rates, the firm thinks. NextEra Energy (NEE) and Sempra Energy (SRE) have the best growth opportunities in the utility space, according to Wells. They also have proven management teams and are well-positioned to exploit long-term trends, including renewable energy and energy infrastructure, the firm believes. ITC Holdings (ITC) has reached an attractive entry point and, to a degree, offers a near-term hedge against an interest rate increase, according to the firm. Edison International (EIX) and Xcel Energy (XEL) are underappreciated regulated utilities, added Wells. Edison trades in-line with its peers despite superior EPS growth potential and Xcel trades at a 3%-6% discount to the sector despite its at least in-line EPS growth and comparable regulatory risk, which might ease, the firm added. PRICE ACTION: In early afternoon trading, NextEra rose 0.5%, Sempra gained 0.6%, Edison added 0.6%, Xcel climbed 0.4% and ITC was little changed.
07:49 EDTNEEWells Fargo identifies favorite utility names
Wells Fargo says that NextEra Energy (NEE) and Sempra Energy (SRE) have the best growth opportunities in the utility space as well as proven management teams, and are well-positioned to exploit long-term trends. ITC Holdings (ITC) has reached an attractive entry point, and, to a degree, offers a near-term hedge against an interest rate increase, according to the firm. Edison International (EIX) and Xcel Energy (XEL) are underappreciated regulated utilities, added Wells.
May 11, 2015
15:52 EDTNEEHawaiian Electric to host special shareholder meeting
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08:14 EDTCNXMorgan Stanley to hold a conference
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07:20 EDTDDeutsche Bank to hold a conference
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May 10, 2015
12:54 EDTNEE, DDuke, Edison, other utilities could return 8% annually, Barron's says
Shares of Duke Energy (DUK), Southern Company (SO), Consolidated Edison (ED), Edison International (EIX), PG&E (PCG), American Electric (AEP), Dominion (D), and NextEra Energy (NEE) could return 8% or more annually in coming years, Barron's contends in a feature article. Though utilities are sometimes seen as no-growth businesses, Barron's argues that infrastructure replacement projects, rate hikes, and dividend boosts make the sector look attractive. Reference Link
May 8, 2015
09:28 EDTWLTOn The Fly: Pre-market Movers
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09:22 EDTWLTWalter Energy to make interest payments, continue talks with debtholders
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