Trading was halted briefly to announce that Shire is putting together a new offer for BXLT. Stock popped to $37.5 before settling in at 35.69...
Sentiment: Strong Buy
Management owns 30 % of the company already. There dividend is in access of there earnings, the cash flow has gone negative, and yes, they lost theie biggest contract. Going private will give them more time to address their current issues then having to answer every 90 days to investors.
If anybody is strong sell, what is point of holding? Take your loss and move on.
From Morningstar 2 3 days ago ....
OLarge positions in the Eagle Ford and Bakken
offer low-cost liquids growth while offering lower
risk and higher returns than international
OConocoPhillips sports a dividend yield unrivaled
by any other independent E&P. Prioritizing the
dividend and a large cash balance should ensure
the dividend is not cut if oil prices fall.
OA rebound in natural gas prices will benefit
ConocoPhillips, which holds a large position in U.
S. natural gas.
Dimon is a cancer to company. He is over-rated, over-compensated and widely hated by the Obama administration. For the good of the company, Dimon needs to resign. How somebody earns a bonus for missing revenues and earnings is precisely the problem with executive compensation. The stock fell from $63 to $55 the days leading up to earnings. The cancer is not in remission.
Did anybody see this:
Did Frederic Salerno disclose privileged and confidential information to GAMCO after he stepped down from the NFG BOD ? I want this guy investigated.
Sentiment: Strong Buy
There is one common thread that links NFG, GAMCO, New Mountain Capital LLC and Mario Gabelli:
Mr. Frederic V. Salerno, also known as Fred, has been the Chief Executive Officer of Gabelli Entertainment & Telecommunications Acquisition Corp. since May 2008. Mr. Salerno serves as Advisor of Magfusion, Inc. He serves as Senior Advisor of New Mountain Capital, LLC, New Mountain Partners, L.P., New Mountain Partners III, L.P. and New Mountain Partners II, L.P.
Former Director, Member of Compensation Committee and Member of Nominating/Corporate Governance Committee
National Fuel Gas Company
GAMCO Investors, Inc.
http://www.sec.gov/Archives/edgar/data/70145/000080724914000112/nfg_05 Schedule 13D is an SEC filing that must be submitted to the US Securities and Exchange Commission within 10 days, by anyone who acquires beneficial ownership of more than 5% of any class of publicly traded securities in a public company. A filer must promptly update its Schedule 13D filing to reflect any material change in the facts disclosed, including, among other things, the acquisition or disposition of 1% or more of the class of securities that are the subject of the filing.
Item 4 to Schedule 13D is amended, in pertinent part, as follows:
At the Issuer's March 13, 2014 Annual Meeting of Stockholders, GAMCO, to the extent that GAMCO had voting authority over its investment advisory accounts, voted in favor of the Issuer's nominees up for election as directors.
In preparation for the Issuer's 2015 Annual Meeting of Stockholders, GAMCO will be evaluating all options available to it, including the submission of a proposal to be included in the Issuer's 2015 proxy statement to have stockholders vote on a proposal that the Issuer's Board either spin off the Issuer's regulated natural gas utility business or its non-regulated operations.
Owns around 10%
Sentiment: Strong Buy
I agree. The decision to split his duties as CEO and Chairman of the Board missed the real issue. Commodity price-fixing, LIBOR rates, bribery, London Whale and the list continues to grow. How much in fines and penalties is he costing the shareholder?
The only way shareholders will see $74 / sh again is to spin off the the E&P. Based upon 2013 earnings guidance and somehow justifying a P/E of 20, we could see $60 again 2013. Enjoy the 2.7 % yield because that's all the BOD can offer at the moment.
EQT Midstream IPO jumps 13%
EQT Midstream Partners (US:EQM) traded at $23.75 per common unit on Wednesday for a gain of 13% over its offering price of $21.
Formed by natural gas producer EQT Corp. (US:EQT), Pittsburgh-based EQT Midstream is a master limited partnership offering investors returns from a 700-mile interstate pipeline system and 2,100 miles of low-pressure gathering lines.
EQT Midstream’s initial public offering raised $263 million by offering 12.5 million common units with underwriters, including Citigroup Inc. (US:C) and Barclays PLC (US:BCS) .
Analysts at IPO Boutique said EQT Midstream drew interest from investors partly because its planned annual yield of 7% outpaces competitors such as Williams Partners LP(US:WPZ) and MarkWest Energy Partners LP (US:MWE).