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SO

Southern Company

$50.97

-0.23 (-0.45%)

, CVX

Chevron

$119.34

0.35 (0.29%)

15:36
12/01/17
12/01
15:36
12/01/17
15:36

Southern Company to take $85M pre-tax charge in Q4 on Kemper settlement

On November 22, 2017, Mississippi Power, a subsidiary of Southern Company, (SO) reached an amended and restated settlement agreement with Chevron Products Company, a division of Chevron U.S.A. Inc. (CVX), the Federal Executive Agencies, and the Chemours Company (CC). On December 1, 2017, Mississippi Power reached a second amended and restated settlement agreement with the MPUS and the parties to the first amended and restated settlement agreement. It is anticipated that other parties, including the parties to the Original Kemper Settlement Agreement, will also file joinders in support of the Amended Kemper Settlement Agreement. The Amended Kemper Settlement Agreement provides for an annual revenue requirement of approximately $112.6M for costs related to the Kemper Facility based on a fixed return on equity for 2018 and 2019 of 8.6% calculated in accordance with Mississippi Power's Performance Evaluation Plan, excluding the performance adjustment, for future years, a performance-based ROE calculated pursuant to PEP, and amortization periods for the regulatory assets and liabilities associated with the In-Service Assets of eight years and six years, respectively. The revenue requirement also reflects a disallowance related to a portion of Mississippi Power's investment in the Kemper Facility requested for inclusion in rate base, which will be recorded in the fourth quarter 2017 as an additional charge to income of approximately $85M pre-tax, or $52M after tax.

SO

Southern Company

$50.97

-0.23 (-0.45%)

CVX

Chevron

$119.34

0.35 (0.29%)

CC

Chemours

$51.01

-0.395 (-0.77%)

  • 01

    Dec

  • 05

    Dec

SO Southern Company
$50.97

-0.23 (-0.45%)

09/29/17
09/29/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Southern Company (SO) upgraded to Outperform from Sector Perform at RBC Capital with analyst Shelby Tucker is increasingly convinced that the regulators are "committed to completing" the company's Vogtle project. 2. Conn's (CONN) upgraded to Outperform from Perform at Oppenheimer with analyst Brian Nagel saying the company's credit business, under new CEO Norm Miller, is "on a much more solid footing, and supportive of a return to expansion in retail." 3. Raytheon (RTN) upgraded to Buy from Hold at Deutsche Bank with analyst Myles Walton saying Raytheon is the most exposed to missile defense trends. 4. USA Truck (USAK), J.B. Hunt (JBHT), and Heartland Express (HTLD) were upgraded to Buy from Hold at Stifel. 5. Zynerba (ZYNE) upgraded to Overweight from Neutral at Piper Jaffray analyst Charles Duncan saying without over-interpreting the results from this "modest open-label program," the data establish an "activity signal and tolerability profile that merits further placebo-controlled study." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/29/17
RBCM
09/29/17
UPGRADE
RBCM
Outperform
Southern Company upgraded to Outperform from Sector Perform at RBC Capital
09/29/17
RBCM
09/29/17
UPGRADE
RBCM
Outperform
Southern Company upgraded based on valuation, Vogtle outlook at RBC Capital
As noted earlier, RBC Capital upgraded Southern Company to Outperform from Sector Perform. After meeting with Georgia regulators, analyst Shelby Tucker is increasingly convinced that the regulators are "committed to completing" the company's Vogtle project. As a result, he believes that the stock is undervalued. Target $53.
10/17/17
JANY
10/17/17
NO CHANGE
JANY
Buy
Janney Capital says South Jersey Industries pullback on deal news overdone
Janney Capital analyst Michael Gaugler noted that South Jersey Industries (SJI) shares fell over 9% after the company announced a deal to buy natural gas assets from Southern Co. (SO) for an effective price of $1.4B. However, he considers the prices agreed upon to be "very reasonable" in the current environment and he considers South Jersey's dividend not only safe but still likely to rise. The analyst, who thinks the market reaction was overdone, recommends investors in search of yield take positions in South Jersey and he keeps a Buy rating on the stock.
CVX Chevron
$119.34

0.35 (0.29%)

10/30/17
PIPR
10/30/17
NO CHANGE
Target $131
PIPR
Overweight
Piper says buy Chevron on Friday's selloff
Piper Jaffray analyst Guy Baber recommends buying shares of Chevron following Friday's 4% pullback. The analyst does not believe the earnings result in Q3 was as bad as feared. He sees the company's cash flow bouncing back in Q4 and keeps an Overweight rating on Chevron with a $131 price target.
10/19/17
WELS
10/19/17
NO CHANGE
Target $118
WELS
Market Perform
Chevron price target raised to $118 from $108 at Wells Fargo
Wells Fargo raised its price target for Chevron om valuation. The firm reiterates a Market Perform rating on the shares.
10/18/17
10/18/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Chevron (CVX) was downgraded to Hold from Buy at Societe Generale and to Market Perform on valuation at BMO Capital. 2. Ulta Beauty (ULTA) downgraded to Neutral from Overweight at Piper Jaffray with analyst Erinn Murphy saying her firm's Fall teen survey indicated spending declines in color cosmetics among all female teens. 3. Chipotle (CMG) downgraded to Underperform from Neutral at BofA/Merrill with analyst Gregory Francort saying he believes Chipotle has down a "very good job" managing labor costs but expects further gains to be difficult, combined with the tough sales backdrop, will limit further margin expansion. 4. Roche (RHHBY) downgraded to Neutral from Buy at Citi with analyst Andrew Baum saying Roche's rate of progress in the immuno-oncology field have underperformed. 5. Blackhawk (HAWK) downgraded to Neutral from Buy at Mizuho. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/30/17
JEFF
10/30/17
NO CHANGE
Target $137
JEFF
Buy
Chevron selloff Friday a buying opportunity, says Jefferies
Jefferies analyst Jason Gammel recommends using Friday's post-earnings selloff in shares of Chevron as a buying opportunity. In a research note titled "Take a Mulligan," the analyst attributes the Q3 earnings miss to non-recurring items. The analyst, while surprised the dividend was not raised, assumes that the dividend will grow by 5% per year through 2020. He believes Chevron is positioned for "significant production growth and a major inflection in its cash cycle." Gammel keeps a Buy rating on the shares with a $137 price target.
CC Chemours
$51.01

-0.395 (-0.77%)

09/12/17
SBSH
09/12/17
NO CHANGE
Target $59
SBSH
Buy
Chemours' Opteon refrigerant story still underappreciated, says Citi
After hosting investor meetings with management, Citi analyst P.J. Juvekar says Chemours' Opteon refrigerant story remains underappreciated as the company has yet to define the market size for various end-market applications. Investors are still trying to gauge the upside from Opteon, Juvekar tells investors in a research note. The analyst adds that CEO Mark Vergnano "seemed quite confident" the company would be able to negotiate successfully with NCDEQ and that the TiO2 cycle is moving in the right direction. Juvekar reiterates a Buy rating on Chemours with a $59 price target.
08/07/17
08/07/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Deere (DE) upgraded to Conviction Buy from Buy at Goldman Sachs. 2. Chemours (CC) upgraded to Neutral from Sell at UBS with analyst John Roberts saying Chemours' execution has disproved his prior concerns. 3. BP (BP) upgraded to Overweight from Neutral at Piper Jaffray with analyst Guy Baber saying the company's cash flow generation is in the early stages of a "multi-year positive inflection" while Macondo headwinds are subsiding. 4. L3 Technologies (LLL) upgraded to Conviction Buy from Buy at Goldman Sachs with analyst Nosh Poponak saying he favors increased exposure to Defense given the current industry cycle position, geopolitics, and Department of Defense budget dynamics. 5. Illumina (ILMN) upgraded to Buy from Hold at Canaccord with analyst Mark Massaro saying he sees a strong upgrade cycle for NovaSeq beginning in the tird quarter and lasting for three years. He believes we remain in the early innings on major waves of cancer growth and expects the continuation of robust growth of direct to consumer products, such as 23andMe, ancestry.com and now Helix. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/07/17
UBSW
08/07/17
UPGRADE
Target $50
UBSW
Neutral
Chemours upgraded to Neutral from Sell at UBS
UBS analyst John Roberts upgraded Chemours to Neutral and raised his price target for the shares to $50 from $36 after the company in Q2 beat his expectations on cost cutting and fluoroproducts growth. He says Chemours' execution has disproved his prior concerns.
08/04/17
JPMS
08/04/17
NO CHANGE
Target $55
JPMS
Overweight
Chemours price target raised to $55 from $50 at JPMorgan
JPMorgan analyst Jeffrey Zekauskas upped his price target for Chemours to $55 citing his "sharply raised" earnings and EBITDA estimates following the company's Q2 results. The analyst keeps an Overweight rating on the shares.

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STLD

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PETX

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HPE

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$14.41

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GRMN

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LMT

Lockheed Martin

$322.82

5.81 (1.83%)

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PG

Procter & Gamble

$91.89

0.89 (0.98%)

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PG

Procter & Gamble

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Novartis

$84.86

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SNSS

Sunesis

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T

AT&T

$38.24

0.5 (1.32%)

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HPE

HP Enterprise

$14.41

0.17 (1.19%)

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FSV

FirstService

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Energy Transfer Partners

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AMTD

TD Ameritrade

$51.98

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Bitcoin

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HIIQ

Health Insurance Innovations

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RM

Regional Management

$24.96

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NBY

NovaBay

$3.35

-0.0668 (-1.96%)

16:50
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T

AT&T

$38.24

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$90.25

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RUN

Sunrun

$6.06

0.2 (3.41%)

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RUN

Sunrun

$6.06

0.2 (3.41%)

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SINO

Sino-Global

$2.59

0.05 (1.97%)

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ALN

American Lorain

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BKH

Black Hills

$60.02

0.55 (0.92%)

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