Dec. 12, 2013, 12:52 PM
Dec. 12, 2013, 9:11 AM
Dec. 11, 2013, 4:48 PM
- UNS Energy (UNS) agrees to be acquired by Fortis (FRTSF), Canada's largest investor-owned gas and electric distribution utility, for $60.25/share, a 31% premium to today's closing price.
- The $4.3B deal, which includes the assumption of ~$1.8B in debt, would provide additional capital and new resources for UNS subsidiaries including Tucson Electric Power and UniSource Energy Services.
- Fortis serves more than 2.4M through its electric utilities in five Canadian provinces and two Caribbean countries, a natural gas company in British Columbia, and a gas and electric utility in New York.
- UNS +30.2% AH.
Jun. 20, 2013, 1:57 PM
UNS Energy (UNS -5.1%) slips after Jefferies downgrades the shares to Hold and cuts its price target from $57 to $49.50. The firm cites regulatory uncertainty introduced by the ACC review of retail competition. If the ACC adopts retail competition, future earnings of Arizona regulated electric companies will depend on commodity prices for gas and power, the length of the transition period and the regulatory treatment of stranded cost. Jefferies recommends investors move to the sideline until the issues are resolved.| Jun. 20, 2013, 1:57 PM
Apr. 19, 2013, 3:50 PM
Unisource Energy (UNS +1.7%) trades higher today after Zacks upgraded the shares to Outperform from Neutral with a price target of $52.10. The company is a small-cap electric power utility serving customers across Arizona, and is the one of the least volatile stocks in the S&P SmallCap 600 universe. Seeking Alpha contributor Dividendinvestr agrees, noting that the company has a dividend yield of 3.6%, a payout ratio of 65% of current-year EPS estimates, and has produced an annualized total return of 18.6% over the past five years.| Apr. 19, 2013, 3:50 PM
Nov. 27, 2012, 2:10 PM
Utilities (XLU +0.5%) could be poised for a rebound after a rough month. Yesterday, utility stocks jumped on the strength of electricity providers after Deutsche Bank upgraded Exelon (EXC +2%). Today, the sector again moves higher after ISI Group upgrades EXC to Buy from Neutral. Also: UNS +1.7%, NVE +1.6%, PPL +1.2%.| Nov. 27, 2012, 2:10 PM | 6 Comments