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UPDATE: CVPS Receives New Unsolicited Offer
Thursday, June 23, 2011 - 9:02am | 87Central Vermont Public Service (NYSE: CV) today received an unsolicited acquisition offer from GazMetro, which the board of directors will review in due course based on our fiduciary responsibilities and contractual commitments to Fortis Inc. "This offer requires us to convene our board of...
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Update: Jefferies Lowering Price Target On PNM Resources
Thursday, June 23, 2011 - 8:34am | 145Jefferies & Co. is lowering its price target on shares of PNM Resources (NYSE: PNM) to $16 from $16.50, but it keeps its Hold rating on shares. In a note to clients, Jefferies writes, "We are increasing our 2011 EPS estimate by $0.05 to $0.80 to reflect an expected implementation of higher...
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Benzinga's Top Downgrades
Thursday, June 23, 2011 - 8:06am | 138Analysts at Morgan Stanley downgraded Dollar General Corp (NYSE: DG) from “overweight” to “equal-weight.” DG's shares closed at $33.98 yesterday. Dollar General's trailing-twelve-month profit margin is 4.85%. Analysts at JP Morgan downgraded F5 Networks Inc (NASDAQ: FFIV) from “overweight” to “...
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Ladenburg Thalmann Initiates Middlesex Water Company At Neutral, $20 PT
Thursday, June 23, 2011 - 7:50am | 26Ladenburg Thalmann has initiated coverage on Middlesex Water Company (NASDAQ: MSEX) with a Neutral rating and $20 price target.
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Brean Murray Initiates Connecticut Water Service At Buy, $30 PT
Thursday, June 23, 2011 - 7:11am | 28Brean Murray Carret & Company has initiated coverage on Connecticut Water Service (NASDAQ: CTWS) with a Buy rating and $30 price target.
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Jefferies Raises PT On PNM Resources To $16.50
Thursday, June 23, 2011 - 7:06am | 27Jefferies & Company has raised the price target on PNM Resources (NYSE: PNM) from $16 to $16.50 and maintains its Hold rating.
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JP Morgan Downgrades Portland General Electric To Neutral, $27 PT
Thursday, June 23, 2011 - 6:18am | 27JP Morgan has downgraded Portland General Electric Company (NYSE: POR) from Overweight to Neutral and maintains its $27 price target.
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Coal Generators Power Struggle: Consumers To Foot The Electric Bills?
Thursday, June 23, 2011 - 1:46am | 1624By EconMatters Utility giant American Electric Power (AEP) sent shock wave last week by suggesting consumers could see their electricity bills jump an estimated 40-60% in the next few years. AEP is one of the country's largest investor-owned utilities, serving parts of 11 states with more than 5...
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Coal Generators Power Struggle: Consumers To Foot The Electric Bills?
Thursday, June 23, 2011 - 1:45am | 113By EconMatters Utility giant American Electric Power (AEP) sent shock wave last week by suggesting consumers could see their electricity bills jump an estimated 40-60% in the next few years. AEP is one of the country's largest investor-owned utilit... Go to http://SwingTradingDaily.com for full...
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Wednesday's S&P Sector Recap 6/22/11
Wednesday, June 22, 2011 - 5:44pm | 1502The S&P 500 traded in positive territory for most of session on Wednesday, but sellers came in around 2:25pm, as the index neared its intraday high of 1298.61. The S&P proceeded to drop 11.47 points to close at 1287.14 – down 8.38 on the day. The Sector Breakdown for Wednesday's session...
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Robert C. Flexon to resign as CFO of UGI Corporation to Become CEO of Dynegy
Wednesday, June 22, 2011 - 5:06pm | 81UGI Corporation (NYSE: UGI) today announced that Robert C. Flexon, chief financial officer, will resign effective July 10 to become president and chief executive officer of Dynegy Inc. Lon R. Greenberg, chairman and chief executive officer of UGI, said, “We are disappointed to be losing Bob, but we...
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Options Brief: Nicor Inc.
Wednesday, June 22, 2011 - 1:54pm | 74Shares of Nicor Inc. (NYSE: GAS) are lower on the session by 0.09%, trading at $54.54. Overall put volume is now running at 60.53x the daily average, with 50% of all puts traded being purchases on the offer. 1,150 contracts have traded on the session so far. Nicor Inc. is a holding company...
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Minnesota Power Accelerates Timing of New Wind Project in North Dakota
Wednesday, June 22, 2011 - 9:01am | 164Minnesota Power, an ALLETE company (NYSE: ALE), has accelerated its plans to build a third wind energy project in North Dakota, citing a competitive turbine market, federal production tax credits and regulatory support as factors for moving up its timeline. The Company submitted a plan to the...
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Synthesis Energy Systems and Midas Resources Announce the Formation of SES Resource Solutions
Wednesday, June 22, 2011 - 8:36am | 272Synthesis Energy Systems (Nasdaq: SYMX) and Midas Resources AG announced today the formation of SES Resource Solutions, Ltd, a 50/50 joint venture between SES and Midas. SRS has been created to provide an expanded business development platform to increase and accelerate the value created for SES...
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PostRock to Buy 24.5% Stake in Constellation Energy Partners
Tuesday, June 21, 2011 - 4:24pm | 188PostRock Energy Corporation (Nasdaq: PSTR) today announced that it had agreed to purchase all of Constellation Energy Group, Inc.'s (NYSE: CEG) interests in Constellation Energy Partners LLC (NYSE: CEP). PostRock will acquire 5,918,894 Class B Member Interests, representing approximately 24.5% of...