Jul. 2, 2014, 2:16 PM
- Exelon (EXC -3.5%) has shed 5.5% in the past two days after storms with hurricane force winds swept through Commonwealth Edison's territory in the central U.S., knocking out power to as many as 427K customers.
- The National Weather Service says five tornadoes touched down in Illinois during storm.
- Based on past storms of similar magnitude, EXC estimates remaining customers will have their service restored by late Thursday night, with the exception of some pockets in hardest hit areas.
- In southeast Michigan, ~140K DTE Energy (DTE -1.6%) customers lost power at the height of the storm.
May 30, 2013, 11:17 AM
Utilities are getting a bit of a reprieve after taking a beating over the past few days. Option implied volatility has been increasing as investors rotate out of high dividend yield positions in the wake of a rise in treasury yields: AEE +1.7%, D +0.3%, DTE +1.9%, EIX +0.6%, ETR +1.3%, EXC +0.7%, FE +0.9%, NEE +1.7%, PEG +0.8%, PPL +0.5%, SRE +1.3%, TE +0.5%, AEP +0.8%, DUK +0.6%, ED NU +1.6%, PCG +1.2%, SO +0.4%, XEL +1.3%.| May 30, 2013, 11:17 AM | 5 Comments
Nov. 19, 2012, 4:54 PM
Atlas Resource Partners (ARP) agrees to acquire Barnett Shale and Marble Falls assets in Texas from DTE Energy (DTE) for ~$255M. ARP increases 2013 distribution guidance and expects immediately accretive cash flow from the added oil and natural gas production, which averaged ~3,800 boe/day YTD. To fund the deal, ARP announces a public offering of 6.8M common units. ARP -2.9% AH.| Nov. 19, 2012, 4:54 PM
Dec. 19, 2011, 12:26 PMDTE Energy (DTE +1.3%) moves up after Credit Suisse raises its rating on the shares to Outperform, saying the positive regulatory environment in Michigan - where the company is headquartered - should translate into 5-6% EPS growth, plus a slightly better than group 4.6% dividend yield. | Dec. 19, 2011, 12:26 PM