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Stock Market & Financial Investment News

News Breaks
December 20, 2012
16:52 EDTUPL, CORRCorEnergy sees Ultra Petroleum asset acquisition accretive to distribution
CorEnergy Infrastructure Trust (CORR) announced that it has closed its previously announced acquisition of a Liquids Gathering System from Ultra Petroleum (UPL). The LGS will continue to be operated by UPL under a long-term triple net lease. Located in the Pinedale field in Wyoming, the LGS is a vital component of natural gas production in one of the top five natural gas fields in the U.S. "We are pleased to have completed our largest acquisition of REIT-qualifying assets to-date," said CEO, David Schulte. "This is a mission-critical asset, with a high-quality tenant, and it represents a cornerstone for our energy infrastructure REIT strategy. The acquisition is accretive to our distribution and our Board of Directors has indicated that it intends to approve an increase in our quarterly distribution from 11c to 12.5c for the first full quarter following the acquisition. The REIT structure provides our investors direct access to U.S. energy infrastructure in an attractive vehicle with transparent cash flow."
News For CORR;UPL From The Last 14 Days
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June 30, 2015
13:42 EDTCORRCorEnergy completes GIGS acquisition, board confirms dividend raise
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10:59 EDTCORRCorEnergy could be worth $13 per share, says Wells Fargo
Wells Fargo views CorEnergy's (CORR) recently announced plans to buy the Grand Isle Gathering System from Energy XXI (EXXI) as a net positive, but also a deal that carries risks due to the financial health of the seller. The firm maintains its Outperform rating on CorEnergy and raised its price target range on the stock to $9-$11, but added that it believes the stock could be worth $13 per share if Energy XXI's financial position improves and the visibility of future payments increases.
June 24, 2015
10:00 EDTCORROn The Fly: Analyst Upgrade Summary
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08:17 EDTCORRCorEnergy 11.25M share Secondary priced at $6.00
BofA/Merrill and Wells Fargo acted as joint book running managers for the offering.
07:22 EDTCORRCorEnergy upgraded on accretive deal at RBC Capital
As noted earlier, RBC Capital upgraded CorEnergy to Outperform from Sector Perform. The firm thinks that the company's acquisition of the Grand Isle Gathering System will significantly increase its cash flow, allowing it to significantly raise its dividend. Target to $8 from $7.
06:34 EDTCORRCorEnergy upgraded to Outperform from Sector Perform at RBC Capital
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June 23, 2015
13:37 EDTCORROn The Fly: Top stock stories at midday
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June 22, 2015
19:00 EDTCORROn The Fly: After Hours Movers
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16:25 EDTCORREnergy XXI monetization of GIGS takes current liquidity to nearly $1B
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16:21 EDTCORRCorEnergy intends to increase annualized dividend rate following deal completion
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16:19 EDTCORRCorEnergy to acquire GIGS from Energy XX for $245M in cash
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16:14 EDTCORRCorEnergy files to sell common stock and convertible notes
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June 19, 2015
17:31 EDTCORRCorEnergy subsidiaries formalize forbearance terms
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