Mon, Apr. 4, 5:57 PM
- Dominion Resources (NYSE:D) -1.5% AH after saying it plans to sell 10.2M common shares, raising ~$750M of gross proceeds, through an underwritten public offering to Citigroup.
- D says it plans to use the proceeds for general corporate purposes, including to help fund its planned $4.4B acquisition of Questar (NYSE:STR) and to repay short-term debt.
- Now read Purchase agreements in place for Atlantic Coast pipeline, Dominion says
Mon, Feb. 1, 12:48 PM
Mon, Feb. 1, 9:19 AM
Mon, Feb. 1, 8:01 AM
- Dominion Resources (NYSE:D) agrees to acquire Questar (NYSE:STR) for ~$4.4B, including debt, in an attempt to expand its natural gas operations.
- Dominion's $25/share cash offer represents a ~23% premium to STR's closing price on Friday.
- Dominion says the combined company will serve ~2.5M electric utility customers and 2.3M gas utility customers in seven states, and operate more than 15.5K miles of natural gas transmission, gathering and storage pipelines and 24.3K MW of power generation.
- D -2.4%, STR +20.2% premarket.
Aug. 20, 2015, 1:04 PM
- Believing the production costs of its Wexpro unit have become unfavorable following the shale gas boom and the related drop in gas prices, Jefferies' Chris Sighinolfi has downgraded Questar (NYSE:STR) to Hold, and cut his target by $3 to $22.
- Sighinolfi observes management has "noted the difficulty in designing a Wexpro drilling program so that new cost-of-service production is at/below the current 5-yr Rockies-adjusted NYMEX curve," and is exploring options that would allow Wexpro's development work to continue.
- However, he thinks there's "little clarity regarding the magnitude of any potential return change, its anticipated financial impact, or the timing of such adjustments." Wexpro aggregate returns are expected to drop to 14% by 2019 from 18% in 2014.
Oct. 17, 2014, 6:06 PM
- QEP Resources (NYSE:QEP) +4.1% AH after Bloomberg reports that Williams Cos. (NYSE:WMB) is among the bidders for its Entrada Midstream natural gas pipeline unit, which could fetch ~$2.5B in a sale.
- Questar (NYSE:STR), QEP’s former parent, also is interested in Entrada, a spokesperson for the gas utility said separately today.
- Entrada and 56%-owned QEP Midstream (NYSE:QEPM) own nearly 3K miles of gas pipelines in the Rocky Mountain region, handling gas gathering and processing services for several major energy companies.
Oct. 14, 2014, 3:49 PM
- Questar (STR +2.4%) logs solid gains after it announced the opening of a compressed natural gas fueling station in Dallas.
- The new Texas station - STR's third in the state - will provide CNG fueling for various fleet operators with medium- and heavy-duty trucks.
- STR has other CNG stations in Texas, as well as two new stations in Kansas; it says it expects to open additional stations in California, Connecticut, Nevada, Missouri, Ohio, Illinois and Georgia over the next 12 months.
Feb. 12, 2013, 11:30 AM
Questar (STR -2.2%) is downgraded to Neutral from Buy at UBS, which notes much to like about the company, but shares are up ~21% YTD and catalysts the firm had outlined earlier plus upside potential of the pending pipeline strategic review are now well understood by the market. At current levels, STR's risk/reward profile has moderated, the firm says.| Feb. 12, 2013, 11:30 AM | 1 Comment
Sep. 24, 2012, 2:53 PM
Natural gas producer Questar (STR +4%) is among the day's top performers after shares are upgraded from Neutral to Buy with a raised $24 target price (from $21) at UBS based on its enviable asset profile, best-in-class returns, proven executive team, strong balance sheet and ongoing dividend growth potential.| Sep. 24, 2012, 2:53 PM
Sep. 24, 2012, 2:17 PM
Bill Barrett (BBG -3%) shares are lower despite disclosure of SAC Capital's raised 5.5% stake that's a positive bet on natural gas. Steve Cohen had slashed his Q2 position after BBG lowered production guidance, but in August the company revised estimates upwards. While BBG trades at a premium based on P/E, it's attractive on a P/S basis vs. peers NOG, STR, QEP and SGY.| Sep. 24, 2012, 2:17 PM