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. 16, 2014, 6:58 PM
- Kevin Birzer of the Tortoise MLP & Pipeline Fund has averaged 24% annual returns over the past three years, and his top current holding is Spectra Energy (NYSE:SE) thanks to its "great footprint of assets" and low risk via $20B in pipeline growth projects with solid commitments up front.
- SE can grow its distributions at a ~10% rate for many years to come, Birzer says; combined with a ~3% yield, he sees 14% annual returns over the long term.
- Birzer also likes Williams Cos. (NYSE:WMB), which has a footprint in all the big U.S. plays except the Bakken and says it can grow cash flow 15%/year through 2017; Oneok (NYSE:OKE), with total returns of ~13%/year; Plains GP Holdings (NYSE:PAGP) as a Permian Basin play; and Kinder Morgan (NYSE:KMI), whose management team Birzer believes is "running assets for the long term."
Jul. 15, 2014, 9:17 AM
May. 7, 2014, 6:32 AM
May. 6, 2014, 5:30 PM
- AGN, ALE, AOL, ARIA, ARQL, ATRO, AVA, AYR, BAM, BUD, CHK, CLH, COT, CTSH, DUK, DVN, DWSN, DX, EE, ENB, END, FWLT, GTIV, GWPH, HNT, HTZ, HUM, INXN, KELYA, KING, LAMR, LGND, LINC, LMIA, MDLZ, MEMP, MZOR, NAVB, NJR, NTLS, NVDQ, POM, PRGO, QRE, RIGL, ROC, SBGI, SE, SEP, SFUN, SNSS, SPAR, SPB, STRA, SUSP, SUSS, TAP, THI, TLM, TMHC, TPC, TRGT, USAC, VOYA, VSI, WBAI, WPX, WRES, XEC.
Apr. 23, 2014, 4:58 PM
- A subsidiary of China’s Cnooc (CEO) agrees to partner with a unit of BG Group (BRGYY, BRGXF) on the U.K. firm’s proposed Prince Rupert liquefied natural gas terminal on Canada’s west coast.
- BG last year filed plans with Canadian regulators for a proposed $16B LNG export terminal capable of processing up to 2.9B cf/day, or 21.6M metric tons/year, and has partnered with Spectra Energy (SE) on a pipeline to the coast.
- It is unclear what Cnooc’s agreement with BG means for a rival development proposed by Cnooc-owned Nexen Energy.
Apr. 15, 2014, 9:19 AM
Feb. 5, 2014, 8:15 AM
- Spectra Energy (SE) and Spectra Energy Partners (SEP) announce their business outlook and three-year financial plan.
- SE sees 2014 distributable cash flow of more than $1.2B; SEP sees 2014 distributable cash flow of $935M, with a CAGR of 13% through 2016.
- SE expects dividends to grow at least 9% annually; SEP expects at least 8%-9% annual growth of distributions through 2016.
- Investment of ~$1.3B in expansion capital in 2014 and an average annual growth capex of ~$2B through 2016; SEP's share of capex is ~70% in 2014, 60% in 2015, 45% in 2016.
- Plans to pursue additional $10B of natural gas and liquids opportunities over the previously announced $25B through the end of the decade.
Feb. 4, 2014, 11:44 AM
- Spectra Energy (SE +2.2%) is higher after reporting its Q4 earnings rose 11% Y/Y as it completed the sale of its U.S. operations to Spectra Energy Partners (SEP +0.7%) and boosted revenue in its remaining segments.
- Overall operating revenue jumped 16% to $1.57B, while overall operating expenses increased 11% to $1.09B.
- Operating revenue in its western Canada transmission and processing segment rose 22% to $533M as its Empress NGL business posted stronger earnings due to higher propane sales prices, lower costs and improved contracting structures.
- Distribution revenue rose 12% on higher approved rates and colder weather but was weighed by a lower Canadian dollar and higher operating and fuel costs.
- SEP's Texas Eastern subsidiary files with the FERC to build a ~$468M pipeline extension that would allow it to move natural gas from Ohio to the Gulf Coast.
Feb. 4, 2014, 6:32 AM| Comment!
Feb. 4, 2014, 12:05 AM
Feb. 3, 2014, 5:30 PM
Jan. 6, 2014, 9:39 AM
Nov. 11, 2013, 9:11 AM
- Spectra Energy (SE, SEP) says it has secured new long-term contracts totaling 650K dth/day of natural gas shipments for the expansion of its Texas Eastern pipeline system.
- SE says the system is strategically located to provide natural gas from the growing Marcellus, Utica and Eagle Ford production areas to meet demand growth in the industrial and LNG export sectors.
Nov. 9, 2013, 9:11 AM
- Natural gas prices in Manhattan are cheaper than in Louisiana these days, thanks to a pipeline that opened Nov. 1 which has effectively doubled the amount of natural gas flowing into Manhattan and steadily pulled down the island’s delivery price.
- Spectra Energy’s (SE) new pipeline, the first to be built to New York in 40 years, gathers gas from various sources including Pennsylvania's Marcellus Shale.
- SE says lower natural gas prices will reduce energy costs businesses and residents pay by $350M/year in New York and by the same in New Jersey, and analysts say the claims are legit; it will help clean up the air too.
- The pipeline met opposition from groups arguing that it encourages fracking, but New Yorkers already consumed fracked natural gas - now they’ll at least stop overpaying for it.
- ETFs: UNG, GAZ, UGAZ, BOIL, DGAZ, UNL, KOLD, NAGS, GASZ, DCNG.
Nov. 4, 2013, 3:48 PM
- Williams Partners (WPZ +0.2%) says the remaining natural gas supply on its Transco Northeast Supply Link entered service on Friday, marks the first major expansion of the Transco pipeline designed specifically to connect supply from the Marcellus shale with northeast U.S. markets.
- The WPZ line is the fourth in the region that recently entered service, with Spectra Energy (SE) and Kinder Morgan Partners (KMP) both announcing new pipelines and upgrades that are expected to temper northeast natural gas prices this winter.
- The expansion pushes Transco's total system capacity past 10B cf/day, enough gas to serve more than 42M homes.
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