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LINE

Linn Energy, LLC

5/23/2013, 9:33 AM ET

Quote & Headlines Market Currents StockTalk

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| Earnings
| Dividends
| M&A
| On the move

Thursday, May 9, 6:35 PM Energy stocks bubbled up as top ideas several times at the Ira Sohn investment conference. David Einhorn endorsed Oil States (OIS) if it elects to go the REIT route with its unique side business, Jonathon Jacobson reiterated questions swirling about how Linn Energy (LINE) accounts for hedging gains, and Tor Olav Troim talked up deepwater drillers including Seadrill (SDRL). Comment! [Energy, Quick Ideas]
Tuesday, May 7, 8:11 AM Linn Energy (LINE) CEO Mark Ellis disputes the assertion in the negative Barron's article that its units may be worth far less than the current quote: "We've had three different analyses done... None of the valuations [is] anywhere close to what was represented over the weekend in the Barron's article." LINE plans to raise its dividend ~6.2% this year, not cut it. LINE +1%, LNCO +1.3% premarket. 21 Comments [Energy]
Monday, May 6, 2:25 PM Wells Fargo's defense of Linn Energy (LINE -6.5%) and LinnCo (LNCO -6.6%) following Barron's negative article has lifted shares a bit from earlier lows. Wells considers today's selloff a buying opportunity, as the article merely "brings up old points of contention"; the firm continues to believe LINE’s distribution is secure and poised to grow at a mid-single-digit annual pace over the next five years. 23 Comments [Energy, On the Move]
Monday, May 6, 12:47 PM Midday top 10 gainers: MBI +41%. FSGI +32%. ABFS +31%. MNGA +25%. YRCW +22%. BORN +16%. PRMW +15%. CHLN +14%. RENN +14%. YY +14%.
Midday top 10 losers: PAL -18%. HGSH -11%. GEOS -9%. LNCO -9%. LINE -9%. CHCI -9%. VISN -8%. OSH -8%. TG -7%. LTBR -7%. 1 Comment [On the Move]
Monday, May 6, 9:12 AM Premarket gainers: CBMX +8%. YRCW +7%. APO +7%. CTIC +6%.
Losers: PAL -12%. LNCO -7%. LINE -6%. 12 Comments [On the Move]
Monday, May 6, 8:58 AM Linn Energy (LINE) -5.1% premarket after a weekend Barron's article warns of a sharp drop if the dividend gets cut. LINE's 7.5% dividend yield has supported the company's high unit price even as its fundamentals have faded; in Q1, LINE failed to produce enough cash to cover its distribution, even by its generous measure of distributable cash flow. LNCO -6.8% premarket. 31 Comments [Energy, On the Move]
Friday, May 3, 12:24 PM "Oil's well" with these energy stocks - BTE, APC, DVN, NTI, LINE/LNCO - which Corvette Kid says could average 40%-plus total return in 12-18 months. Of Baytex, shares can push $60 if production growth hits forecast targets and heavy oil prices continue to recover. Devon management has all but indicated a sale is on the table, which could bring 60% upside. 5 Comments [Energy, Quick Ideas]
Friday, April 26, 12:54 PM Linn Energy (LINE -0.8%) is downgraded to Reduce from Neutral with a $34 price target (from $38) at Global Hunter after disappointing Q1 results. The firm is cautious given the reduced guidance, high decline rates, move away from the Hogshooter and general inability to drive growth in DCFPU despite massive development spending and acquisitions. 21 Comments [Energy, Quick Ideas]
Thursday, April 25, 1:55 PM LINN Energy (LINE) and LinnCo (LNCO) boards approved change in distribution and dividend policies from quarterly to monthly from 2Q13. (PR) 13 Comments [Dividends]
Thursday, April 25, 6:49 AM Linn Energy (LINE): Q1 EPS of $0.16 misses by $0.08. (PR) Comment! [Earnings, Breaking News]
Thursday, April 25, 12:05 AM Notable earnings before Thursday’s open: ABC, AIXG, ALK, ALXN, AME, ASPS, AVT, AZN, BC, BG, BIIB, BLL, BMS, BMY, BSX, BWA, CAB, CAM, CCE, CELG, CFX, CL, CMS, CNX, COP, CRR, CSH, D, DAN, DLX, DNKN, DO, DOW, DST, EQT, ESI, ETR, FAF, GPK, GTI, GTLS, HERO, HOG, HP, HSY, IDCC, IMAX, JBLU, KKR, KMT, LEA, LINE, LKQ, LLL, LUV, LVLT, MDP, MJN, MMM, MO, NBL, NLSN, NMM, NYT, O, ODFL, ORI, OXY, PCS, PDS, PH, PHM, POT, PRLB, PTEN, PVR, RCL, RDWR, RRD, RS, RTN, RYN, SCG, SIAL, SUI, SWK, SWY, TASR, TSRA, TWC, UAL, UPS, UTHR, WBC, XOM, YNDX, ZMH Comment! [Earnings]
Wednesday, April 24, 5:30 PM Notable earnings before Thursday’s open: ABC, AIXG, ALK, ALXN, AME, ASPS, AVT, AZN, BC, BG, BIIB, BLL, BMS, BMY, BSX, BWA, CAB, CAM, CCE, CELG, CFX, CL, CMS, CNX, COP, CRR, CSH, D, DAN, DLX, DNKN, DO, DOW, DST, EQT, ESI, ETR, FAF, GPK, GTI, GTLS, HERO, HOG, HP, HSY, IDCC, IMAX, JBLU, KKR, KMT, LEA, LINE, LKQ, LLL, LUV, LVLT, MDP, MJN, MMM, MO, NBL, NLSN, NMM, NYT, O, ODFL, ORI, OXY, PCS, PDS, PH, PHM, POT, PRLB, PTEN, PVR, RCL, RDWR, RRD, RS, RTN, RYN, SCG, SIAL, SUI, SWK, SWY, TASR, TSRA, TWC, UAL, UPS, UTHR, WBC, XOM, YNDX, ZMH Comment! [Earnings]
Tuesday, April 23, 5:58 PM Linn Energy, LLC (LINE) declares $0.725/share quarterly dividend, in line with previous. Forward yield 7.45%. For shareholders of record May 08. Payable May 15. Ex-div date May 06. (PR) 1 Comment [Dividends]
Tuesday, April 9, 10:46 AM Global Hunter sees little upside left in Linn Energy (LINE), downgrading shares to Neutral from Accumulate after rising 7.2% YTD. The firm sees risks in LINE's relatively high enterprise-wide decline rate and relying on acquisitions to grow; "management will need to execute very well" to continue its distribution growth sustainably. 13 Comments [Energy, Quick Ideas]
Thursday, April 4, 7:37 AM Midstates Petroleum (MPO) agrees to buy oil and gas acreage in the Anadarko Basin in Texas and Oklahoma from Panther Energy and its partners Red Willow Mid-Continent and LINN Energy (LINE) for $620M. MPO says the deal is immediately accretive in 2013 to cash flow per share, earnings, EBITDA, proved reserves and production per share. Comment! [Energy, M&A]
Friday, March 22, 11:32 AM Trading volume in LinnCo (LNCO -0.3%) ticks up to 1.1M shares vs. average daily volume of 869K, perhaps due to Jim Cramer's apparent endorsement via Twitter. Earlier this week, Linn Energy (LINE -1.5%), owned by LNCO, said it cleared an antitrust hurdle to buy Berry Petroleum (BRY) for $4.3B; the deal was announced last month and is expected to close by the end of June. 6 Comments [Energy]