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Stock Market & Financial Investment News

News Breaks
March 13, 2014
14:29 EDTSRE, GAS, EGNSempra, AGL interested in buying Energen Alagasco unit, Bloomberg reports
News For SRE;GAS;EGN From The Last 14 Days
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October 31, 2014
14:09 EDTGASDominion asks FERC to begin environmental review of Atlantic Coast Pipeline
Dominion (D), on behalf of its joint venture partners in the Atlantic Coast Pipeline, submitted a request to begin the pre-filing process with the Federal Energy Regulatory Commission, or FERC, asking the commission to begin its environmental review of the proposed $4.5B-$5B, 550-mile natural gas pipeline. Four U.S. energy companies, Dominion, Duke Energy (DUK), Piedmont Natural Gas (PNY) and AGL Resources (GAS), plan to build and own the pipeline, which would run from Harrison County, W.Va., southeast through Virginia with an extension to Chesapeake, Va., and then south through eastern North Carolina to Robeson County. The project will need the approvals of 40 federal, state and local regulatory agencies before construction can begin. The company expects to file its FERC application next summer, receive the FERC Certificate of Public Convenience and Necessity in the summer of 2016 and begin construction shortly thereafter. The pipeline is expected to be in service by late 2018.
October 30, 2014
17:02 EDTEGNEnergen reports Q3 adjusted EPS 62c, consensus 48c
Reports Q3 revenues $497.7M, consensus $329.4M. The company anticipates possible sale of majority of gas assets in San Juan Basin in 2015.
15:30 EDTEGNNotable companies reporting after market close
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October 23, 2014
08:36 EDTGASAGL Resources postpones Q3 earnings release
AGL Resources announced that the company is conducting a review of its historical application of accounting guidance primarily related to the timing of non-cash revenue recognition associated with its Georgia infrastructure replacement programs and expects to modify its financial statements. As a result of the additional time required to complete its review, the company is postponing its Q3 earnings release and conference call. The rescheduled date and time will be announced separately and are expected to be on or prior to the due date of the company's Form 10-Q filing for Q3. Importantly, a change in accounting treatment will not affect the company's previously-reported operating cash flows, nor is it expected to impact capital expenditure plans or dividend payments. The company's infrastructure replacement programs are expected to generate the same levels of return as previously communicated, as all amounts will be recovered in accordance with allowed recovery mechanisms. This review relates only to the timing of recognition and does not impact rates charged to customers. The company determined that, in accordance with the accounting principles that govern financial statements, it should not capitalize, nor include within current income, an equity rate of return on assets constructed as part of infrastructure replacement programs until the equity ROR is collected in rates to customers. Management currently expects a reduction to previously reported diluted EPS from continuing operations of approximately 3% for the first six months of 2014. Based on its initial analysis, management currently expects a reduction to previously reported diluted earnings per share from continuing operations of approximately 3% for the first six months of 2014. The cumulative impact on prior years is expected to be less than 1% of the company's total assets.

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