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CenterPoint Energy Resources Corp. to Commence Exchange Offer for Any and All of Its $762 Million of 7.875 Percent Senior Notes Due 2013
Tuesday, January 4, 2011 - 9:14am | 81CenterPoint Energy Resources Corp., an indirect, wholly-owned subsidiary of CenterPoint Energy, Inc. (NYSE: CNP), today announced that it intends to commence an offer to certain eligible holders to exchange $762 million principal amount of its 7.875 percent Senior Notes due 2013 for a combination...
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Jefferies Raises PT On Exelon
Tuesday, January 4, 2011 - 8:43am | 26Jefferies & Company has raised the price target on Exelon (NYSE: EXC) from $44 to $46.50 and maintains its Buy rating.
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EQT Announces 2011 Capital Expenditure Forecast
Tuesday, January 4, 2011 - 8:36am | 120EQT Corporation (NYSE: EQT) announces the company's 2011 capital expenditure \ forecast of $970 million; 19% lower than the 2010 CAPEX forecast. Sales of produced natural gas in 2011 are projected to be 175 Bcfe, 31% higher than the 2010 estimate of 134 Bcfe. The CAPEX forecast includes $691...
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EQT Corporation Announces Sale of Kentucky Natural Gas Processing Complex
Tuesday, January 4, 2011 - 8:22am | 59EQT Corporation (NYSE: EQT) and MarkWest Energy Partners (NYSE: MWE) today announced that MarkWest is acquiring EQT's natural gas processing complex in Langley, Kentucky and an associated natural gas liquids pipeline for $230 million. The transaction is expected to close during the first quarter...
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RW Baird Upgrades HE To Outperform
Tuesday, January 4, 2011 - 7:13am | 52Analysts at RW Baird upgrade Hawaiian Electric Industries Inc (NYSE: HE) from “neutral” to “outperform.” The target price for HE has been raised from $25 to $27. HE shares gained 0.57% to close at $22.92 yesterday. More Analyst Ratings here
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The Pain of Economic Change
Tuesday, January 4, 2011 - 6:36am | 499by Tom aka Rusty Rustbelt The Pain of Economic Change Michigan is the only state in the union showing a net negative population trend in the recent census report, and is an interesting case study of the pain of economic change. For several decades after WWII, Michigan enjoyed above average...
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BostonGen Sold to Constellation Energy with FERC Approval for $1.1B
Monday, January 3, 2011 - 5:54pm | 66EBG Holdings, the parent of Boston Generating, LLC announced today that the Federal Energy Regulatory Commission issued an order on December 22, 2010 approving the sale of the Company's assets to Constellation Energy (NYSE: CEG) for approximately $1.1 billion. All necessary regulatory approvals...
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Constellation Energy Completes Acquisition of 2,950 MW Boston Generating Gas Fleet
Monday, January 3, 2011 - 5:01pm | 69Constellation Energy (NYSE: CEG) today announced it has completed a $1.1 billion agreement to purchase the 2,950-megawatt Boston Generating fleet in New England. Under terms of the agreement, Constellation Energy acquired Boston Generating's five power plants located in the Boston area: four...
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Pepco Energy Awarded Energy Savings Performance Contract
Monday, January 3, 2011 - 3:08pm | 113Pepco Energy Services, Inc., a subsidiary of Pepco Holdings, Inc. (NYSE: POM), has been chosen by the Franklin County Housing Authority, headquartered in Chambersburg, Pennsylvania, to implement a comprehensive energy savings performance contract. The $3.9 million contract calls on Pepco Energy to...
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PNM Resources' Case Schedule Extended (PNM)
Monday, January 3, 2011 - 2:38pm | 176The rate case schedule for PNM Resources' (NYSE: PNM) New Mexico utility, PNM, was extended today by four weeks to allow the parties additional time to continue to work on a settlement. On Dec. 20, PNM filed a motion with state regulators to extend the schedule after it had reached an agreement...
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Sempra Sells California Facility - Analyst Blog
Monday, January 3, 2011 - 1:33pm | 475Sempra Generation, a subsidiary of Sempra Energy (SRE), has sold its 50% interest in the Elk Hills Power generation facility to Occidental Petroleum Corporation (OXY). Occidental will pay Sempra cash plus year-end cash distribution totaling $179 million for the purchase. The Elk Hills Power...
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Sempra Sells California Facility - Analyst Blog
Monday, January 3, 2011 - 1:00pm | 475Sempra Generation, a subsidiary of Sempra Energy (SRE), has sold its 50% interest in the Elk Hills Power generation facility to Occidental Petroleum Corporation (OXY). Occidental will pay Sempra cash plus year-end cash distribution totaling $179 million for the purchase. The Elk Hills Power...
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Wells Fargo Upgrades EGN To Outperform
Monday, January 3, 2011 - 11:55am | 117Wells Fargo is upgrading shares of Energen Corporation (NYSE: EGN) to Outperform and is increasing its valuation range from $51-53 to $59-61. “Key reasons for our upgrade include: (1) recent Permian acquisition adds attractive Bone Spring, Avalon, and potentially Wolfcamp oil shale, (2) down...
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AES Corp. Extends Repurchase Prog - Analyst Blog
Monday, January 3, 2011 - 11:04am | 717AES Corporation (AES) extended its ongoing stock repurchase program into fiscal 2011. The stock repurchase program of up to $500 million of AES common stock was introduced on July 7, 2010, and was set to expire on December 31, 2010. At the end of the third quarter of 2010, the company had $485...
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CEG to Sell 550 MW Gas Plant - Analyst Blog
Monday, January 3, 2011 - 10:36am | 562Constellation Energy Group Inc. (CEG) signed an agreement to sell its Quail Run natural gas plant of 550 MW in west Texas to High Plains Diversified Energy Corporation (HPDEC) for $185.3 million. High Plains Diversified Energy is a municipal utility formed by the West Texas Municipal Power Agency...