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Stock Market & Financial Investment News

News Breaks
January 16, 2013
08:02 EDTSU, KMISuncor battles Kinder Morgan over pipeline pricing, Globe and Mail reports
Suncor Energy (SU) is battling the Canadian unit of Kinder Morgan Inc. (KMI), which is seeking approval for a $5.4B expansion of its Trans Mountain pipeline, over prices, reports the Globe and Mail. Major oil companies want to ship to the west coast to take advantage of higher prices on world markets than they can get by shipping to refineries in the U.S. Midwest and Southeast. But some of them are balking at the price, or tolls, which they say would allow Kinder Morgan to earn returns on the project that are far above its historical 7% to 12%. Reference Link
News For SU;KMI From The Last 14 Days
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July 31, 2015
06:57 EDTSUSuncor CEO: Company eyes 'better' takeover opportunities, WSJ reports
Suncor CEO Steve Williams said that the company is focused on developing its own assets and buying back shares, though strategic acquisitions remain a third option for making use of its growing cash reserves, the Wall Street Journal reports, citing comments from the company's conference call. “Our view was that the prices were still too high and that the natural choices we looked at we were not prepared to pay the prices for. Clearly as time is going on they’ve moved down and there are better opportunities there,” Williams said. Reference Link
July 30, 2015
05:21 EDTSUSuncor lowers FY15 CapEx view to C$5.8B-C$6.4B from $6.2B-$6.8B
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05:18 EDTSUSuncor reports Q2 EPS operating C$0.63 vs. C$0.77 last year
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July 29, 2015
20:08 EDTSUSuncor raises quarterly dividend to 29c per share from 23c per share
Suncor Energy's board has approved a quarterly dividend of 29c per share on its common shares, payable September 25, to shareholders of record at the close of business on September 4.
July 28, 2015
10:31 EDTKMIKinder Morgan starts binding open season for Mier-Monterrey pipeline expansion
Kinder Morgan Gas Natural de Mexico, a subsidiary of Kinder Morgan, announced the start of a binding open season to solicit interest for incremental firm natural gas transportation service on its Mier-Monterrey pipeline, which would expand capacity to approximately 1.34B cubic feet per day. The expansion project, which would be completed by the fourth quarter of 2017, will consist of the looping of the existing Mier-Monterrey pipeline system from the Mexico-United States border to Huinalá, Nuevo León, Mexico, and a new lateral from Pesquería, Nuevo León, Mexico, to Escobedo, Nuevo León, Mexico. The open season bid period begins on Aug. 13, 2015, and ends at 5 p.m. Central Time on Aug. 22, 2015.
July 24, 2015
16:44 EDTKMIUIL Holdings to invest in natural gas pipeline project
UIL Holdings Corporation (UIL) will invest in a natural gas transmission pipeline project that, when complete, is expected to alleviate capacity constraints in the system that serves New England and the northeast region. UIL announced its investment in the development of Kinder Morgan’s (KMI) proposed Northeast Energy Direct natural gas pipeline project, which will extend approximately 188 miles of new transmission pipeline from New York State, through Massachusetts and New Hampshire. The new pipeline is expected to begin commercial operation in 2018. Under an agreement signed this week, UIL has acquired a 2.5% interest, or approximately $80M, in Northeast Expansion. UIL will also have additional options -- under limited circumstances -- to increase its equity participation. Northeast Expansion is the joint venture responsible for development, construction and ownership of the new pipeline, which will be part of Kinder Morgan’s Tennessee Gas Pipeline system.
July 21, 2015
07:46 EDTSUJacobs wins five year contract from Suncor
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