Sep. 21, 2014, 4:09 AM
- The bidding is now open on Energy Future Holdings' 80% stake in Oncor, a Texas transmission business that's being auctioned in a Chapter 11 proceeding.
- The deadline to pick a stalking horse (lead bidder) is Oct. 23. Competitors that make it to the second round must have their refined offers in by Nov. 21.
- Interested bidders may include NextEra Energy (NYSE:NEE), CenterPoint Energy (NYSE:CNP), and Iberdrola (OTCPK:IBDRY, OTCPK:IBDSF).
Sep. 8, 2014, 6:05 PM
- Cleco (NYSE:CNL) is nearing a deal to sell itself and has narrowed down the list of prospective buyers to Spanish power company Iberdrola (OTCPK:IBDRY, OTCPK:IBDSF) and Australian investment bank Macquarie (OTC:MCQEF), FT reports.
- Both bidders reportedly have discussed terms with CNL and a deal could be announced within weeks; a deal likely would fetch a premium to its market value, which now stands at $3.4B.
- The Louisiana electricity supplier has been the subject of takeover rumors since June, when it said it was exploring strategic options after receiving attention from Canada's Borealis (OTCPK:BOREF), which is no longer interested; CenterPoint Energy (NYSE:CNP) also is no longer involved in discussions.
Aug. 20, 2014, 11:33 AM
- CenterPoint Energy (CNP +0.4%) is upgraded to Buy from Hold with a $29 target price at Argus, based primarily on an expanding infrastructure improvement program and the new Enable Midstream Partners MLP formed as a joint venture between CNP, OGE Energy and ArcLight Capital Partners.
- CNP has a solid base of regulated utility assets and a well-managed non-regulated interstate gas pipeline and storage operation, Argus says; CNP is committed to electric and gas service expansion strategies in its regulated service territory, and sees significant growth opportunities in its non-regulated segment.
Aug. 6, 2014, 8:19 AM
Aug. 5, 2014, 5:30 PM
- ANR, AOL, APO, ARIA, AVA, AVT, BRKR, CEQP, CHK, CLH, CMLS, CNP, CONE, CSTE, CTSH, DBD, DISH, DNR, DVN, DWSN, EE, ELOS, GEO, GOV, GWPH, HFC, HNT, INXN, IPXL, ITC, KELYA, LINC, LIOX, MDLZ, MEMP, MVIS, NAVB, NUS, PERI, PH, PKD, POWR, RDC, RL, ROC, SBGI, SE, SEP, SF, SJI, SKYW, STWD, TAP, THI, TRGT, TWX, VC, VIAB, VITC, VOYA, WD, WIX, WPX, ZINC
Jul. 24, 2014, 5:33 PM
Jun. 20, 2014, 2:27 PM| Jun. 20, 2014, 2:27 PM | 2 Comments
May 21, 2014, 12:56 PM
- OGE Energy (OGE +0.5%) is reinstated with an Overweight rating and $41 target price at Barclays, which sees considerable earnings growth potential from OGE's recently formed Enable Midstream Partners (ENBL -0.2%).
- Barclays believes cash distributions provided from ENBL can sufficiently fund OGE's environmental capital requirements while also providing opportunity for dividend growth.
- The firm also initiates ENBL at Overweight with a $28 price target of $28, viewing ENBL as a relatively low-risk MLP with an attractive organic growth profile around highly integrated natural gas production and transportation assets exposed to the best liquids rich plays in Oklahoma.
- Finally, Barclays reinstates coverage of CenterPoint Energy (CNP) at Equal Weight with a $26 target; the firm likes the constructive regulation and underlying demand growth in Texas at the utilities and ENBL distribution growth, but believes shares are fairly valued at present.
- CNP and OGE subsidiaries own respective 54.7% and 26.7% of limited partner interests in ENBL.
May 1, 2014, 8:28 AM
Apr. 30, 2014, 5:30 PM
- AAWW, ABMD, ACIW, AFSI, AIT, AMT, ANR, ANSS, ARG, AVP, BBW, BDC, BDX, BG, BGCP, BKCC, BLL, BWA, BZH, CAH, CHD, CI, CIE, CLX, CME, CNP, CNSL, COP, CPN, CRCM, CROX, CVI, CVRR, DIN, DPZ, ENDP, EPD, EXAS, FCH, FCN, FIG, FIS, FSS, FUR, GG, GNRC, GWR, HAR, HEP, HSNI, HST, I, IART, IDA, IDCC, IIVI, INCY, IQNT, IRDM, IRM, IT, ITC, ITT, IVZ, JAH, K, KMT, LAZ, LINE, LLL, LM, MA, MD, MDC, MFA, MFC, MPC, MPLX, MSI, MTOR, MWW, MYL, NGLS, NILE, NNN, NVO, O, OAK, OCN, OGE, PCG, PCRX, PEG, PMC, PPL, PRLB, PTRY, PWE, PWR, Q, RFP, RGLD, RRD, SBH, SFY, SHOO, SHPG, SMP, SNMX, STRZA, SWC, TEVA, THRM, TMUS, TXT, UAN, UPL, VG, VIAB, VICL, WLT, WWE, XEL, XOM, YRCW.
Apr. 24, 2014, 5:09 PM
Apr. 11, 2014, 10:19 AM
- Enable Midstream Partners (ENBL) opened at $21.50 after pricing its IPO at $20, the midpoint of the expected $19-$21 range, and shares have continued higher to $21.92, up 9.6%.
- CenterPoint Energy (CNP) and OGE Energy (OGE), through subsidiaries, will own respective 54.7% and 26.7% of the limited partner interests in the owner of natural gas and crude oil infrastructure assets.
- IPO Preview
Apr. 1, 2014, 11:56 AM
- Enable Midstream Partners says it plans to raise $500M by offering 25M units in its IPO, expecting shares to price at $19-$21 each.
- Enable, which focuses on natural gas and oil infrastructure in the U.S., was formed last year as a limited partnership among CenterPoint Energy (CNP), OGE Energy (OGE) and ArcLight Capital.
- As of Dec. 31, ENBL's energy infrastructure portfolio included ~11K miles of gathering pipelines and 12 major processing plants; total revenue for 2013 was $2.49B.
Feb. 26, 2014, 8:18 AM
Feb. 26, 2014, 12:05 AM
Feb. 25, 2014, 5:30 PM
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