Tue, Jun. 3, 11:29 AM
- Dominion Resources (D +0.1%) says it is seeking FERC approval of two projects estimated to cost ~$235M to move natural gas from the Appalachian region to markets in upstate New York and West Virginia.
- The project planned for upstate New York, which includes two new compressor stations and upgrades at a number of other stations, would provide improved access to natural gas for National Grid (NGG) units Niagara Mohawk and Brooklyn Union.
- The second proposed project includes a number of station upgrades as well as a new interconnection with CNX Gas.
Nov. 21, 2013, 7:30 AM
- National Grid's (NGG) H1 pretax profit -7% to £979M and missed consensus of £999M, hurt by a weaker performance in the U.S.
- Operating profit -1% to £1.57B.
- EPS-1% to 20.4 pence.
- The fall in earnings also reflects the "temporary additional cost of pre-financing asset growth at attractive interest rates," National Grid said.
- The firm intends to invest £3.5B this year, slightly below a prior forecast.
- The utility's U.K. businesses are on schedule to deliver “strong returns."
- National Grid expects net debt to rise by £1B this fiscal year, excluding the impact of currency swings.
- Shares +0.65% premarket. (PR)
Apr. 8, 2013, 5:47 PMFour companies which have invested heavily in gas-fired generation - Calpine (CPN), Exelon (EXC), National Grid (NGG) and Public Service Enterprise (PEG) - urge a court to throw out a lawsuit that would invalidate the EPA's new rules curbing emissions of mercury and other air pollutants. The move exposes a rift within the power sector, which usually speaks with one voice against clean-air regulations. | 2 Comments
Feb. 10, 2013, 3:39 AMAirports in the North East are slowly ramping up operations after over 5,700 U.S. flights were cancelled yesterday and on Friday mostly because of the snow storm , with another 241 canceled for today. The blizzard dropped up to 40 inches of snow, cut power to over half a million customers, and left at least nine people dead. Entergy's (ETR) Pilgrim nuclear plant in Massachusetts shut down safely after losing its outside power supply. (Flight tracker) | Comment!
Feb. 8, 2013, 5:09 AMAirlines have canceled at least 2,200 flights for today and another 500 for tomorrow ahead of a blizzard in the North-Eastern U.S. that's forecast to dump up to 2 1/2 feet of snow, with affected airlines including United Continental (UAL), JetBlue Airways (JBLU), Delta Air Lines (DAL) and AMR (AAMRQ.PK). Power utilities bracing for the storm include National Grid (NGG), PSE&G’s (PEG) and Connecticut Light & Power (NU). | 1 Comment
Jan. 24, 2013, 12:45 PMBarclays calls Northeast Utilities (NU) its top regulated utility pick for 2013 for its “best-in-class management team poised to deliver top-decile (6-9%) earnings and dividend growth through a combination of rate base growth opportunities in transmission and natural gas infrastructure, coupled with strong cost management." The firm also likes NI, WEC, NGG, WR and DUK. | Comment!
Nov. 15, 2012, 9:52 AMNY AG Eric Schneiderman has reportedly subpoenaed the Long Island Power Authority (LIPA) - whose system is operated by National Grid (NGG) - and ConEd (ED) over their handling of Superstorm Sandy. Schneiderman's probe adds to a "thorough review" of New York's power utilities that was initiated by Governor Andrew Cuomo. | 3 Comments
Nov. 15, 2012, 9:36 AMNational Grid (NGG): H1 pretax profit +21% to £1.15B vs consensus of £1.1B, operating profit +7% to £1.59B. Restoration costs outside the LIPA service area following Superstorm Sandy expected to exceed £100M. However, that's only part of the total costs, and expenses could also rise if legal claims over the storm are successful. Ups interim dividend by 4% to 14.49 pence a share. Shares +0.9%. (PR) | Comment!
Nov. 14, 2012, 5:10 AMWith over 130,000 New York State residents still without power following Superstorm Sandy, Governor Andrew Cuomo has created a commission to investigate the area's utilities for their handling of the storm and to recommend reform. "It has to be overhauled and you need a new system," Cuomo said. NY power companies include ConEd (ED), CH Energy (CHG) and National Grid (NGG). | 8 Comments
Jul. 25, 2012, 10:25 AMInvestors starved for income should be wary of overpaying for yield, particularly when it comes to utilities, Russ Koesterich of iShares warns. Utilities trade at a discount of ~25% on average to the S&P 500, but they're now trading at a premium of more than 8%. But National Grid (NGG) might be one utility stock that’s been beaten up enough to get long, Greg Harmon suggests. | 1 Comment
Jul. 4, 2012, 3:52 AM
Nov. 1, 2011, 9:55 AMIt's on panicky days like these that long-term investors should look at utility stocks, Tim Beyers writes. At least one utility that says it's in "full restoration mode" from the weekend nor'easter, National Grid (NGG -1.5%), boasts a 7.6% yield and sports a P/E of 9.8, well below the industry norm. Beyers also likes SPH, APU, NRGY and PNG. | 3 Comments
Oct. 7, 2011, 3:02 PM
Sep. 1, 2011, 7:32 AM
Apr. 13, 2011, 9:00 AM
Mar. 18, 2011, 9:00 AMPremarket gainers: CRA +29%. CTIC +10%. GPL +5%. RCL +5%. CIGX +5%. EXK +5%. VE +5%. SI +4%. URRE +4%. CCJ +4%. NGG +4%. DNN +4%. NOK +4%. SLW +3%. HL +3%. DAL +3%. UN +3%. TOT +3%. AMR +3%. FTK +3%. UAL +3%. US +3%. CSCO +3%.
Losers: AFFY -8%. NKE -7%. PLX -4%. PPO -4%. CPGI -3%. TM -3%. HTS -3%. OAS -3%. | 1 Comment
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