Guidance

Dominion Resources’ Revised Guidance Sends Mixed Signals

Moody’s Investors Service last week revised the outlooks for Dominion Resources Inc. (Baa1 senior unsecured.) and its gas pipeline subsidiary CNG (A3 senior unsecured) to negative from stable, citing concerns over financial risk from debt-financed growth, particularly at Dominion Energy and Consolidated Natural Gas (CNG). However, the credit rating agency said the outlook remains stable for securities issued by Virginia Electric and Power (A2 senior secured) based upon regulatory support afforded the utility in Virginia through 2007.

September 23, 2002

KMI Expects 34% Earnings Hike for ’02, KMP to Gain 17%

Kinder Morgan Inc. (KMI) on Wednesday reiterated an earlier third quarter earnings guidance of 63 cents a share, with earnings of $2.64 a share for the year, maintaining a forecast for 34% growth over last year. Kinder Morgan Energy Partners LP (KMP), the master limited partnership, also held to its forecast to earn 45 cents per unit in the third quarter, and $1.83 per unit for the year, which would be a 17% gain over 2001. The forecasts mirror Wall Street expectations.

September 19, 2002

Dominion Resources’ Revised Guidance Sends Mixed Signals

Moody’s Investors Service on Tuesday revised the outlooks for Dominion Resources Inc. (Baa1 senior unsecured.) and its gas pipeline subsidiary CNG (A3 senior unsecured) to negative from stable, citing concerns over financial risk from debt-financed growth, particularly at Dominion Energy and Consolidated Natural Gas (CNG). However, the credit rating agency said the outlook remains stable for securities issued by Virginia Electric and Power (A2 senior secured) based upon regulatory support afforded the utility in Virginia through 2007.

September 18, 2002

FERC Pushes for Power Industry Standards Group

The Federal Energy Regulatory Commission on Wednesday sought to provide guidance to the power industry on the formation of an organization to develop wholesale electric industry business practice and communications standards. Although the Commission is giving industry first crack at developing such an organization, FERC made it clear that if the electricity sector does not step up to the plate — and quickly — the agency will either select an organization itself or set up a procedure to develop the standards.

December 24, 2001

AGL Lowers 2001 Earnings Citing SouthStar Impact

Due to “overstated” revenues at its SouthStar retail marketing joint venture, AGL Resources Inc. has revised its earnings guidance for fiscal year 2001 to between $1.49 and $1.51 per share, from the current First Call consensus of $1.55 per share. SouthStar Energy Services LLC is a partnership among AGL Resources, Piedmont Natural Gas and Dynegy Inc.

September 3, 2001
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