Analysts at Credit Suisse First Boston are looking for a return to positive valuations on merchant energy company stocks because of the current pricing environment and customer demand for risk management and energy services. CSFB analyst Philip Sales said Oneok (OKE) in particular should maintain consistent earnings from merchant energy operations.
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Articles from Suisse
CSFB Bearish on 2004 Gas Prices But Bullish on Gas Company Shares
Credit Suisse First Boston analysts are taking a bearish view of gas prices in 2004 but believe gas pipeline companies and local distributors (LDCs) should see higher share valuations because of the current focus of investors on balance sheet repair rather than on high commodity prices.
CSFB Bearish on 2004 Gas Prices But Bullish on Gas Company Shares
Credit Suisse First Boston analysts are taking a bearish view of gas prices in 2004 but believe gas pipeline companies and local distributors (LDCs) should see higher valuations because of the current focus of investors on balance sheet repair rather than on high commodity prices.
NUI Adds Second Financial Advisor in Planned Sale
Bedminster, NJ-based NUI Corp. said it has retained Credit Suisse First Boston (CSFB) as co-advisor on its sale of the entire company. CSFB will join Berenson & Co., which has been assisting the company in its efforts to maximize value for its shareholders.
CSFB Downgrades AEP, CMS, Dynegy, Atmos, Questar, NFG, WGL
Credit Suisse First Boston (CSFB) released a revised three-tiered rating methodology last week to “provide greater clarity for investors.” In the process, analyst Curt Launer apparently downgraded several major energy companies including American Electric Power (to Underperform from Hold), CMS Energy (to Underperform from Hold), Dynegy (to Neutral from Strong Buy), National Fuel (to Underperform from Hold), Questar (to Underperform from Hold), Atmos Energy (to Underperform from Hold) and WGL Holdings (to Underperform from Hold).
CSFB Downgrades AEP, CMS, Dynegy, Atmos, Questar, NFG, WGL
Credit Suisse First Boston (CSFB) has released a revised three-tiered rating methodology to “provide greater clarity for investors.” In the process, analyst Curt Launer apparently has downgraded several major energy companies including American Electric Power (to Underperform from Hold), CMS Energy (to Underperform from Hold), Dynegy (to Neutral from Strong Buy), National Fuel (to Underperform from Hold), Questar (to Underperform from Hold), Atmos Energy (to Underperform from Hold) and WGL Holdings (to Underperform from Hold).
Analyst: Broad FERC Actions Would Add to ‘Near Hysteria’
Financial analyst Curt Launer of Credit Suisse First Boston has called on FERC to exercise “extreme caution over the next few months” in its regulatory rulings to avoid sending the already-embattled energy market into a further tailspin and compounding the uncertainty on Wall Street.
Analyst: Broad FERC Actions Would Add to ‘Near Hysteria’
Financial analyst Curt Launer of Credit Suisse First Boston has called on FERC to exercise “extreme caution over the next few months” in its regulatory rulings to avoid sending the already-embattled energy market into a further tailspin and compounding the uncertainty on Wall Street.
PG&E May Sell Australian Assets, Renew Focus on U.S.
PG&E Corp. has hired Credit Suisse First Boston (CS FirstBoston) of Melbourne, Australia, to evaluate various options forall of PG&E’s Australian assets, including a possible sale. Thecompany has made an about-face from aggressive investment inAustralia to continued expansion of its North American assets,particularly power generation in New England and pipeline andtrading operations in Texas. Over the past two years, PG&E haspurchased the 390-mile Queensland Gas Pipeline, running fromWalumbilla (near Roma) to Gladstone and Rockhampton, for US$138million, and planned huge expansion projects, including a proposedAU$30 million extension of the Queensland Pipeline and a AU$1billion, 994-mile gas pipeline project from the North West Shelf tothe South-West of the State. It also has built an activeQueensland-based energy trading business.