Jul. 16, 2015, 3:17 PM
- WEC Energy (WEC +2.1%) is upgraded to Outperform from Neutral with a $54 price target, raised from $50, at Baird, which says the combination with Integrys (NYSE:TEG) should fuel attractive long-term total returns reflecting accelerated infrastructure investment opportunities that should support above-average EPS and dividend compound annual growth of 5%-7%.
- Baird says the combined firm appears well positioned to execute on a solid pipeline of regulated capital investment, backed by a constructive regulatory environment which supports timely returns on and of capital as well as a valuation boost from expanded natural gas LDC and transmission businesses.
Jun. 26, 2015, 5:28 PM
- J.B. Hunt Transportation (NASDAQ:JBHT) +1.6% AH after being selected to join the S&P 500 index, replacing Integrys Energy (NYSE:TEG), which is being acquired by Wisconsin Energy.
- Molina Healthcare (NYSE:MOH) will replace JBHT in the S&P MidCap 400, and MYR Group (NASDAQ:MYRG) will replace MOH in the S&P SmallCap 600.
Jun. 24, 2014, 2:55 PM
- Wisconsin Energy (WEC +1.9%) regains some of yesterday's 3.5% loss following its acquisition of Integrys (TEG +1.5%) for $71.47/share, which represents a 17.3% premium to Friday's closing price.
- Wells Fargo upgrades WEC to Outperform and raises its target price for shares to $50-$51 from $49-$50, believing the deal makes strategic sense given synergies associated with geographic fit and potential opportunities via an increased ownership in Wisconsin transmission grid owner ATC; however, CRT Capital cuts its WEC target price to $44 from $48, citing subsequent increased regulatory risk and potential year-long overhang (Briefing.com).
- For TEG shareholders, the deal brings a healthy 17% premium and they’re getting shares in a very solid company, says Morningstar's Charles Fishman.
Jun. 23, 2014, 12:46 PM
Jun. 23, 2014, 9:15 AM
Oct. 1, 2012, 2:10 PM
Integrys (TEG +3.8%) springs to highs of the day after D.A. Davidson upgrades shares to Buy with a new $59 price target (up from $55) following TEG's purchase of the Fox Energy Center in Wisconsin. The firm says Fox potentially adds ~$20M to the utility's annual regulated earnings power and sets the stage for higher earnings in 2013 and a cash return in 2014.| Oct. 1, 2012, 2:10 PM | 1 Comment