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Stock Market & Financial Investment News

News Breaks
April 7, 2014
07:03 EDTLG, EGNEnergen to sell natural gas utility to Laclede Group for $1.6B
Energen Corporation (EGN) announced that it has signed a definitive stock purchase agreement to sell its natural gas utility business, Alabama Gas Corporation, to The Laclede Group (LG). The value of the transaction is $1.6B, subject to customary closing adjustments, and is comprised of $1.28B in cash and approximately $320M of debt. Energenís after-tax proceeds are estimated to be $1.1B, after consideration of accelerated intangible drilling costs. Energen plans to use cash proceeds from the transaction to immediately reduce short-term indebtedness, thereby enhancing its financial capacity to potentially accelerate the pace of drilling and development of its Permian Basin assets in 2015 and beyond.
News For EGN;LG From The Last 14 Days
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November 24, 2015
07:04 EDTLGLaclede board increases quarterly dividend by 6.5% to 49c
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07:04 EDTLGLaclede sees long-term CapEX to increase to $335M by 2020
Looking longer term, the Company anticipates that its level of capital spending will increase from $315 million in 2016 to approximately $335 million by 2020, or a total of more than $1.6 billion over the next five years, driven by higher utility investment. Laclede also confirms its long-term net economic earnings per share growth target of 4 - 6 percent.
07:03 EDTLGLaclede sees FY16 NEE $3.34-$3.44, consensus $3.37
Sees FY16 CapEx $315M, with Gas Utilities accounting for $310M of that total. This increase reflects the continued ramp-up of infrastructure upgrades in both Missouri and Alabama. Laclede expects that 70 percent of its fiscal 2016 capital expenditures will be recovered in rates with minimal lag under the existing regulatory mechanisms in Missouri and Alabama. In addition, approximately 10% of the remaining total spend is anticipated to support Missouri-based new business expansion that will add to operating margin.
07:02 EDTLGLaclede reports Q4 EPS (43c), consensus (35c)
Reports Q4 revenue $204.2M, consensus $287.11M.
November 16, 2015
17:10 EDTEGNSoros took stake in Paypal, liquidated Herbalife stake
Soros Fund Management gave a quarterly update on its stakes in a filing this afternoon. NEW STAKES: Paypal (PYPL), CIT Group (CIT), Schlumberger (SLB), Kraft Heinz (KHC), and Amazon (AMZN). INCREASED STAKES: Allergan (AGN), Lions Gate (LGF), Energen (EGN), Southwest Airlines (LUV), and Qunar Cayman Islands (QUNR). DECREASED STAKES: LyondellBasell (LYB), YPF (YPF), Time Warner Cable (TWC), Dow Chemical (DOW), and Monsanto (MON). LIQUIDATED STAKES: Herbalife (HLF), Lennar (LEN), DR Horton (DHI), United Continental (UAL), and Nice Systems (NICE).

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