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Stock Market & Financial Investment News

News Breaks
June 26, 2014
07:02 EDTALE, PNW, AVA, EE, UIL, GXP, POR, WR, IDA, EDENumber of electric utilities could become takeover targets, says Bernstein
Bernstein identifies the following electric utilities as potential takeover targets: UIL Holdings (UIL), Empire District Electric (EDE), Portland General Electric (POR), El Paso Electric (EE), IDACORP (IDA), Great Plains Energy (GXP), Avista (AVA), Westar Energy (WR), Pinnacle West (PNW), and Allete (ALE).
News For UIL;EDE;POR;EE;IDA;GXP;AVA;WR;PNW;ALE From The Last 14 Days
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January 30, 2015
08:55 EDTPNW, EEPinnacle West not interested in selling despite approaches, The Deal says
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January 29, 2015
15:54 EDTPNWPinnacle West approached by suitors, The Deal reports
Pinnacle West has been approached by suitors, but executives are not interested in selling, said The Deal, according to contacts.
10:00 EDTPNWOn The Fly: Analyst Downgrade Summary
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08:27 EDTPNWPinnacle West downgraded to Neutral at UBS
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January 28, 2015
16:13 EDTPNWPinnacle West downgraded to Neutral from Buy at UBS
January 27, 2015
15:17 EDTALEAllete announces strategic partnership with U.S. Water
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10:00 EDTPNWOn the Fly: Analyst Downgrade Summary
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08:38 EDTPNWPinnacle West downgraded to Hold from Buy at Argus
Argus downgraded Pinnacle West to Hold based on valuation.
08:01 EDTALEAllete to buy 87% of U.S. Water Services for $168M
ALLETE announced that it has signed a definitive agreement to purchase U.S. Water Services, Inc., an integrated industrial water management company. ALLETE will initially purchase 87% of U.S. Water for $168M, based on a total implied enterprise value of $194M. Current employees and management of U.S. Water will continue to own the remaining 13%. ALLETE will purchase the remaining 13% interest in the future for a contingent amount based on U.S. Water’s future earnings. The transaction is expected to close upon satisfaction of customary closing conditions, including compliance with Hart-Scott-Rodino antitrust clearing requirements. U.S. Water generated revenue of approximately $120 million during 2014, and ALLETE projects future revenue growth of 10 percent to 15 percent annually. ALLETE expects the acquisition to provide long-term earnings growth and diversity, and have no material impact on 2015 earnings per share. ALLETE’s previously stated 2015 earnings guidance is unchanged, and excludes transaction costs. The transaction will be financed with a combination of cash, equity raised from existing programs and temporary short-term debt.
January 26, 2015
15:44 EDTGXPKCP&L plans to install, operate 1,000 electric vehicle charging stations
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January 23, 2015
08:31 EDTALEAllete raises quarterly dividend 3.1% to 50.5c per share
ALLETE announced that its Board of Directors has increased the quarterly dividend on the company’s common stock to 50.5c per share, an increase of 3.1%. On an annual basis, the increased dividend is equivalent to $2.02 per share. The regular quarterly dividend is payable March 1 to common shareholders of record at the close of business February 16.
January 21, 2015
17:16 EDTAVAAvista reaches settlement in Oregon natural gas rate request
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January 20, 2015
17:17 EDTGXPGreat Plains Energy unit announces plans to stop burning coal at three plants
Kansas City Power & Light Company, or KCP&L, a subsidiary of Great Plains Energy, announced that in the coming years it will no longer burn coal at three of its coal-fired power plants, Montrose Station, one of its units at Lake Road Station and two of its units at Sibley Station. This announcement furthers the company’s commitment to a sustainable energy future and balanced generation portfolio. Lake Road’s boiler already has the ability to burn natural gas and the company plans to operate on natural gas once it ceases coal combustion. In the coming years, KCP&L will make final decisions regarding whether to retire the units at Montrose and Sibley, or convert them to an alternative fuel source. The decision comes in part as a result from recent Environmental Protection Agency regulations, which would require KCP&L to make significant environmental upgrades in the coming years in order to continue burning coal at these power plants. While this decision will impact employees at Montrose, Lake Road and Sibley, the utility does not anticipate that any employees will lose jobs as a result. KCP&L will find job opportunities within the company for displaced employees.

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