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News Breaks
June 26, 2014
17:57 EDTQEPQEP Resources files for spin-off of midstream business
QEP Resources announced that its wholly owned subsidiary, QEP Field Services Company, QEPFS, filed a Registration Statement on Form 10 with the SEC in connection with the spinoff of QEPs midstream field services business into a separate publicly traded company. The Form 10 contains a preliminary Information Statement about the potential terms and conditions of a spin-off of QEPFS to QEP shareholders. The Form 10 also provides initial information about QEPFS as a standalone business, including financial information, risk factors and a discussion of the business strengths and strategies. Immediately prior to the completion of the spin-off, QEPFS intends to change its name to Entrada Midstream. In addition to owning natural gas gathering and processing assets, QEPFS owns the general partner of QEP Midstream Partners and an approximate 55.8% limited partner interest in QEPM. Concurrent with the preparation of the Form 10, and as part of its previously announced strategic alternatives process, QEP is engaged in a process to solicit and evaluate proposals for alternative transactions for separating the midstream business. Following analysis of any such proposals, QEP will select the alternative it believes creates the most value for its shareholders. We continue to make good progress on the separation of our midstream business, commented Chuck Stanley, Chairman, President and CEO of QEP. We believe that the filing of the Form 10 and the parallel process to solicit alternative transactions gives QEP the most options to unlock value for shareholders.
News For QEP From The Last 14 Days
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November 19, 2015
10:00 EDTQEPOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Dick's Sporting (DKS) upgraded to Buy from Neutral at Monness Crespi... Fairchild (FCS) upgraded to Neutral from Underperform at Credit Suisse... Fiesta Restaurant (FRGI) upgraded to Strong Buy from Outperform at Raymond James... General Dynamics (GD) upgraded to Buy from Hold at Argus... Genomic Health (GHDX) upgraded to Outperform from Market Perform at Cowen... National Grid (NGG) upgraded to Outperform from Sector Perform at RBC Capital... ON Semiconductor (ON) upgraded to Buy from Neutral at Citi... Papa John's (PZZA) upgraded to Buy from Neutral at Sidoti... QEP Resources (QEP) upgraded to Buy from Neutral at Goldman... Seagate (STX) upgraded to Buy on selloff, dividend yield at Craig-Hallum... Sunoco (SUN) upgraded to Outperform at Credit Suisse... Tetraphase (TTPH) upgraded to Buy from Neutral at SunTrust... Wendy's (WEN) upgraded to Conviction Buy from Neutral at Goldman.
08:14 EDTQEPQEP Resources upgraded to Buy from Neutral at Goldman
Goldman transferred coverage on QEP Resources with a Buy rating from a Neutral rating and $19 price target. Analyst Pavan Hoskote expects shares to outperform from recently acquired assets that will drive strong 2016 oil growth, cash flow above spending, and attractive low leverage.
November 17, 2015
08:10 EDTQEPMitsubishi UFJ to hold a conference
Oil & Gas Conference is being held in New York on November 17.
November 16, 2015
19:32 EDTQEPQEP Resources management to meet with JPMorgan
Meeting to be held in New York on November 18 hosted by JPMorgan.
17:02 EDTQEPPoint72 added to lululemon position, subtracted from Netflix position
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09:59 EDTQEPOmega bought Valeant in Q3, sold some SuneEdison
Leon Cooperman's Omega Advisors gave a quarterly update on its stakes in a filing this morning, disclosing its positions as of September 30. NEW STAKES: Pfizer (PFE), Valeant (VRX) Walgreens Boots Alliance (WBA), TerraForm Global (GLBL), Cigna (CI). INCREASED STAKES: Google Class A (GOOGL), Facebook (FB), Delta Air Lines (DAL). DECREASED STAKES: SunEdison (SUNE), Shire (SHPG), Citi (C), KAR Auction (KAR), LyondellBasell (LYB). LIQUIDATED STAKES: McKesson (MCK), 21st Century Fox (FOXA), General Motors (GM), QEP Resources (QEP), eBay (EBAY).

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