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NWN

Northwest Natural Gas

$62.63

0.075 (0.12%)

, PCG

PG&E

$42.98

2.44 (6.02%)

18:17
06/22/18
06/22
18:17
06/22/18
18:17

Northwest Natural to sell Gill Ranch Storage to SENSA Holdings

NW Natural (NWN) announced that NW Natural Gas Storage has entered into an agreement to sell its wholly-owned subsidiary Gill Ranch Storage to SENSA Holdings, an investment partnership led by eCorp Storage. Gill Ranch Storage owns a 75% undivided interest in the Gill Ranch facility, located outside of Fresno, California, amounting to approximately 15 Bcf of underground natural gas storage capacity. The remaining interest in the facility is owned by Pacific Gas & Electric (PCG). The transaction follows a comprehensive review process that concluded Gill Ranch was no longer core to the company's strategy. NW Natural Gas Storage will continue to provide management services to the Gill Ranch facility for up to 18 months after the transaction closes under a transition services agreement. All Gill Ranch facility personnel are expected to remain in their current capacity. The sale is subject to certain closing conditions, including approval by the California Public Utility Commission, a right of first refusal that can be exercised by PG&E until August 4, 2018, and other usual and customary closing conditions. The sale is expected to be final in 2019.

NWN

Northwest Natural Gas

$62.63

0.075 (0.12%)

PCG

PG&E

$42.98

2.44 (6.02%)

  • 26

    Jun

NWN Northwest Natural Gas
$62.63

0.075 (0.12%)

03/05/18
03/05/18
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. Monster Beverage (MNST) upgraded to Buy from Hold at Deutsche Bank with analyst Steve Power saying the selloff since the company's "weak" results on March 1 is an "overly negative reaction," presenting a buying opportunity. 2. Northwest Natural Gas (NWN) upgraded to Market Perform at Wells Fargo with analyst Sarah Akers citing valuation. 3. Valeant (VRX) upgraded to Buy from Hold at Deutsche Bank with analyst Gregg Gilbert saying with the shares down 20% since the company reported "solid" fourth quarter results and a "decent" 2018 outlook, the price target suggests "significant upside" over the next year if Valeant continues to execute. 4. Newpark Resources (NR) upgraded to Buy from Hold at Johnson Rice with analyst George Venturatos citing its improving market share in the core Fluids segment, leverage to recent rig count gains and its strong free cash flow profile. 5. Tractor Supply (TSCO) upgraded to Buy from Neutral at MoffettNathanson. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/05/18
WELS
03/05/18
UPGRADE
Target $52
WELS
Market Perform
Northwest Natural Gas upgraded to Market Perform at Wells Fargo
Wells Fargo analyst Sarah Akers upgraded Northwest Natural Gas to Market Perform from Underperform with an unchanged price target of $52. The analyst cites valuation for the upgrade with the shares down 25% over the past three months.
02/27/18
02/27/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. FTS International (FTSI) initiated with an Overweight at Barclays, an Overweight at Piper Jaffray, an Outperform at Wells Fargo, an Outperform at Credit Suisse, an Overweight at Morgan Stanley, a Buy at Guggenheim and an Outperform at Evercore ISI. 2. Qorvo (QRVO) and Integrated Device (IDTI) initiated with an Overweight and Macom (MTSI) initiated with a Neutral at Piper Jaffray. 3. New Jersey Resources (NJR) and Vectren (VVC) initiated with a Neutral, One Gas (OGS) and Northwest Natural Gas (NWN) initiated with an Underperform and UGI (UGI) and Atmos Energy (ATO) initiated with a Buy at BofA/Merrill. 4. Park Hotels & Resorts (PK) initiated with a Neutral at Citi. 5. Tractor Supply (TSCO) initiated with an Outperform at Bernstein. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/27/18
02/27/18
UPGRADE

Neutral
Northwest Natural Gas upgraded to Neutral at Hilliard Lyons
As previously reported, Hilliard Lyons analyst Spencer Joyce upgraded Northwest Natural Gas to Neutral from Underperform, stating that his view toward its near-term risk/reward is "as positive as it has been in some time." However, he still thinks Northwest faces one of the more challenged long-term growth outlooks in the gas utility industry and continues to view the stock as a "potential source of funds" for investors in the sector.
PCG PG&E
$42.98

2.44 (6.02%)

06/20/18
MSCO
06/20/18
NO CHANGE
Target $58
MSCO
Overweight
Morgan Stanley sees 'significant' chance PG&E not in violation for Tubbs fire
After looking in further depth into the largest of the Northern California wildfires, the Tubbs fire, Morgan Stanley analyst Stephen Byrd concluded that there is a "significant probability" that PG&E did not violate any vegetation management requirements and may not be the cause of this fire. Byrd, who cautions that the Tubbs fire is a large fire and "the fact pattern surrounding the cause(s) of this fire could be complex," maintains an Overweight rating and $58 price target on PG&E shares.
06/19/18
GDHS
06/19/18
NO CHANGE
GDHS
PG&E would be 'contiguous fit' in Berkshire power portfolio, says Gordon Haskett
Gordon Haskett analyst Don Bilson noted that Warren Buffett bought Portland-based PacifiCorp in 2005 and then bought a Nevada utility in 2013, adding that PG&E (PCG) would be a "contiguous fit" in Berkshire Hathaway's (BRK.A) portfolio. PG&E's current market cap of $20B is "hardly daunting" for Berkshire, added Bilson, who also noted that recent media reports indicate that Elliott Management, which butted heads with Buffett last year when Berkshire was trying to buy a Texas utility, is also involved with a stake in PG&E.
06/18/18
MSCO
06/18/18
NO CHANGE
MSCO
Overweight
Utilities sector upgraded to Overweight at Morgan Stanley
Morgan Stanley equity strategist Michael Wilson noted that year-to-date performance across assets shows large divergences in performance across the risk spectrum, arguing that it is "probably not too early" to start shifting out of some of the extreme cyclicals and picking up more defensively oriented names given the "ever tightening" financial conditions. He upgraded the Utilities sector to Overweight, citing expectations of peak 10 Year Treasury yields and improving relative earnings breadth. The firm has individual Overweight ratings on American Electric (AEP), FirstEnergy (FE), NextEra Energy (NEE), NextEra Energy Partners (NEP), PG&E (PCG), PSEG (PEG) and Xcel Energy (XEL).
06/14/18
MSCO
06/14/18
NO CHANGE
Target $58
MSCO
Overweight
PG&E settlement potential being overlooked, says Morgan Stanley
Morgan Stanley analyst Stephen Byrd reiterated his previously stated view that it is unlikely PG&E shareholders will realize "anywhere close to 100% of both causation and negligence" for all 21 Northern California wildfires. He believes there is a very wide range of investor expectations for total damages that will be paid relating to the NorCal wildfires, from a low of $6B to as high as $15B. He also thinks investors overlook the potential for settlements of damage claims. Byrd, whose base case assumes a prospective change to inverse condemnation and that the company is only 70% responsible and 25% negligent across the fires, keeps an Overweight rating and $58 price target on PG&E shares.

TODAY'S FREE FLY STORIES

CAT

Caterpillar

$118.92

-9.72 (-7.56%)

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CSX

CSX

$66.08

-2.23 (-3.26%)

11:55
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CSX put volume heavy and directionally bearish »

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11:55
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CLSA financial analyst to hold an analyst/industry conference call »

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CNXN

Connection

$28.53

-0.25 (-0.87%)

11:54
10/23/18
10/23
11:54
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11:54
Upgrade
Connection rating change  »

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  • 01

    Nov

YNDX

Yandex

$26.78

-0.76 (-2.76%)

11:53
10/23/18
10/23
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11:53
Recommendations
Yandex analyst commentary  »

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  • 29

    Oct

11:50
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10/23
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General news
Treasury's $65 B bill auctions were mixed with the 8-week outperforming »

Treasury's $65 B…

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U.S. equities are digging above lows »

U.S. equities are digging…

LYFT

Lyft

$0.00

(0.00%)

, UBER

Uber

$0.00

(0.00%)

11:46
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10/23
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11:46
Hot Stocks
Lyft is acquiring London-based augmented reality startup Blue Vision Labs »

In a blog post earlier,…

LYFT

Lyft

$0.00

(0.00%)

UBER

Uber

$0.00

(0.00%)

03/08/13
Wedge Partners
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Credit Suisse
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Citigroup
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DB

Deutsche Bank

$10.73

0.015 (0.14%)

11:45
10/23/18
10/23
11:45
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11:45
Options
Deutsche Bank call volume above normal and directionally bullish »

Bullish option flow…

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11:45
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10/23
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11:45
General news
FX Action: USD-JPY »

FX Action: USD-JPY dipped…

11:44
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11:44
Conference/Events
Morgan Stanley energy analysts to hold an analyst/industry conference call »

Energy Analysts, along…

MCD

McDonald's

$175.81

9.28 (5.57%)

11:37
10/23/18
10/23
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11:37
Hot Stocks
Breaking Hot Stocks news story on McDonald's »

McDonald's says…

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  • 23

    Oct

11:37
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11:37
General news
8-Week Bill Auction Total Amount data reported »

8-Week Bill Auction Total…

11:37
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10/23
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11:37
General news
4-Week Bill Auction Total Amount data reported »

4-Week Bill Auction Total…

FSNN

Fusion

$2.37

-0.035 (-1.46%)

11:37
10/23/18
10/23
11:37
10/23/18
11:37
Conference/Events
Fusion management to meet with B. Riley FBR »

Meetings to be held in…

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  • 23

    Oct

  • 24

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CAT

Caterpillar

$119.44

-9.2 (-7.15%)

11:35
10/23/18
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Hot Stocks
Caterpillar will have 'stiff tailwind next year' »

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  • 23

    Oct

STX

Seagate

$42.62

-1 (-2.29%)

11:35
10/23/18
10/23
11:35
10/23/18
11:35
Options
Seagate put volume heavy and directionally bearish »

Bearish flow noted in…

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  • 30

    Oct

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    Nov

HSBC

HSBC

$39.61

-0.745 (-1.85%)

11:32
10/23/18
10/23
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11:32
Downgrade
HSBC rating change  »

HSBC downgraded to…

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Barclays

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CAT

Caterpillar

$118.96

-9.68 (-7.52%)

11:28
10/23/18
10/23
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11:28
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Caterpillar: weak demand for oil, gas drilling equipment »

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  • 23

    Oct

LMT

Lockheed Martin

$326.11

-0.34 (-0.10%)

11:28
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MCD

McDonald's

$175.92

9.39 (5.64%)

11:26
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  • 23

    Oct

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Conference/Events
RBC Capital REITs analyst to hold a group luncheon »

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PRTK

Paratek Pharmaceuticals

$8.62

-0.37 (-4.12%)

11:25
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Conference/Events
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