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Zacks Analyst Blog Highlights: EOG Resources Inc., Grupo Televisa S.A., OGE Energy Corp., Edison International and Dynegy Inc. – Press Releases

Zacks Market Commentaries — Mon, 09 Nov 2009 12:40:14 +0000

For Immediate Release

Chicago, IL – November 9, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: EOG Resources Inc. (EOG), Grupo Televisa S.A. (TV), OGE Energy Corp. (OGE), Edison International (EIX) and Dynegy Inc. (DYN).

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Here are highlights from Friday’s Analyst Blog:

EOG Resources Remains Neutral

EOG Resources Inc. (EOG) reported third-quarter earnings of 81 cents per share, compared with the Zacks Consensus Estimate of 65 cents and a year-ago profit of $2.34. Before adjusting one-time items, earnings were 2 cents per share. Despite an increase in production volumes, earnings were down from the year-earlier level due primarily to significantly lower commodity price realizations.

Total volumes during the quarter increased approximately 4% year-over-year to 195.9 billion cubic feet equivalent (Bcfe), or 2,129 million cubic feet equivalent per day (MMcfe/d), 76% of which was natural gas and 24% liquids. Natural gas volumes decreased 3% year-over-year, led by an approximately 6% decrease in the U.S. volumes to 1,128 MMcf/d, and more than 2% decrease in Canadian volumes to 219 MMcf/d.

Grupo Televisa Reports Mixed Results

Grupo Televisa S.A. (TV), the largest media company in Mexico, reported mixed financial results for the third quarter 2009. Quarterly consolidated net revenue of $970 million was an improvement of 5.5% over the prior-year quarter. However, this was below the Zacks Consensus Estimate of $983 million.

The year-over-year increase in the top-line was mainly attributable to healthy revenue growth in Sky, Cable & Telecom, Programming Exports, Pay television Networks, and Other Business segments, partially offset by a fall in revenue in Publishing and Television Broadcasting segments.

OGE Energy Tops Expectations

Earnings were boosted in the reported quarter by strong results at Oklahoma Gas and Electric Company (OG&E), offset by cooler weather in the OG&E service territory, lower commodity prices in the Enogex midstream pipeline business and an increase in the number of shares outstanding.

Edison Pushes Past Estimate

Edison International’s (EIX) adjusted EPS of $1.09 in the third quarter of fiscal 2009 pushed past the Zacks Consensus Estimate of $1.05 by 4 cents. However, adjusted EPS for the quarter fell short of the year-ago $1.46 EPS.

On a GAAP basis, the company reported quarterly EPS of $1.23, compared to $1.33 in the year-ago quarter. The discrepancy between GAAP and adjusted EPS were due to non-cash accounting benefit from the final regulatory approval to transfer its Mountainview power plant to utility rate base.

Dynegy Sunk on Charges

Dynegy Inc. (DYN) has reported a net loss of $212 million, or 25 cents per share in the third quarter 2009, compared to a net income of $605 million, or 72 cents per share in the year-ago quarter. The net loss in the reported quarter was primarily driven by asset impairment charges and mark-to-market losses. The company recorded mark-to-market losses of $128 million ($78 million after tax), compared to mark-to-market gains of $889 million ($542 million after tax) in the year-ago quarter.

In the reported quarter, however, adjusted earnings rose to $388 million, compared to $269 million in the year-ago quarter. The growth was primarily driven by the sale and assignment of a multi-year power sales contract, higher capacity and tolling revenues and higher realized energy prices in the Midwest.

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OGE Energy Tops Expectations – Analyst Blog

Zacks Market Commentaries — Fri, 06 Nov 2009 22:24:35 +0000

OGE Energy Corp. (OGE) reported third quarter earnings per share (EPS) of $1.40, topping the Zacks Consensus EPS estimate of $1.34. However, EPS in the reported quarter came a dime short, compared to the year-ago EPS of $1.50.

Earnings were boosted in the reported quarter by strong results at Oklahoma Gas and Electric Company (OG&E), offset by cooler weather in the OG&E service territory, lower commodity prices in the Enogex midstream pipeline business and an increase in the number of shares outstanding.

In the reported quarter, OG&E registered earnings of $1.26 per share, compared to $1.15 per share in the year-ago quarter. Enogex recorded earnings of 18 cents per share, compared to 30 cents per share in the year-ago quarter. The holding company, including results from the OGE Energy Resources marketing business, posted a loss of 4 cents per share, compared to earnings of 5 cents per share in the year-ago period.

Revenue fell to $845.3 million in the reported quarter from $1.3 billion in the year-ago quarter due to a tepid economy and a cooler summer affecting demand for electricity. Electric Utility revenues fell to $577.9 million from $682.5 million in the year-ago quarter. Similarly, Natural Gas Pipeline revenues fell to $267.4 million from $571.8 million last year.

OGE Energy Resources reported consolidated gross margin on revenues of $431 million in the reported quarter, compared to $418 million in the year ago quarter. Operating income was $230 million, compared to $231 million in the year ago period.

OG&E reported gross margin on revenues of $342 million, compared to $302 million in the third quarter of 2008. The increase was primarily due to retail rate increases in 2009, partially offset by milder weather. Also affecting OG&E's quarterly results were higher expenses primarily due to increased depreciation expense associated with higher levels of plant in service and higher operation and maintenance expenses, mainly as a result of increased payroll and benefits costs. Net income at OG&E was $123 million in the quarter, compared to $107 million year-over-year.

Enogex reported gross margin on revenues of $93 million in the quarter, compared to $108 million in the comparable quarter last year. The decrease was due primarily to lower commodity prices, partially offset by continued volume growth. Net income at Enogex was $18 million in the third quarter this year, compared with $28 million in the third quarter of 2008.

OGE Energy reaffirmed its full-year consolidated EPS guidance between $2.30 and $2.60. For fiscal 2010, the company expects EPS to be in the range of $2.70 to $2.95.
Read the full analyst report on "OGE"
Zacks Investment Research

DrStockPick.com Stock Report! 8/05/09, PG, NPD, DF, OGE, AEZS, LOJN

Dr. Stock Pick — Wed, 05 Aug 2009 11:40:19 +0000

DrStockPick.com Stock Report! Wednesday August 5, 2009 ************************************************************** The Procter & Gamble Company (NYSE:PG) announced diluted net earnings per share for the fiscal year ending June 30, 2009 of $4.26, up 17 percent and exceeding the Company’s guidance range of $4.20 to $4.25. Core EPS, which excludes the current year impact from the [...]

OGE Energy Pressuring 50-day MA – Zacks Tale of the Tape

Zacks Market Commentaries — Tue, 06 Jan 2009 14:12:33 +0000

OGE Energy Corp. (OGE) fell nearly 2% this morning and is pressuring a short-term level of support at $25.60. The Zacks #2 Rank (Buy) stock trades with a P/E of 9.9X, significantly lower than the industry average.

"OGE" Free Stock Analysis: Buy? Sell? Hold?
Zacks Investment Research

Stocks Which Benefit from Low Oil Prices Part 2: Utilities

Fred Fuld — Sun, 07 Dec 2008 05:18:00 +0000

a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://2.bp.blogspot.com/_T9VXVyuEITg/STtlkEBkX0I/AAAAAAAAAmM/1FYndgjniZU/s1600-h/oilderrick.jpg"img style="float:right; margin:0 0 10px 10px;cursor:pointer; cursor:hand;width: 213px; height: 320px;" src="http://2.bp.blogspot.com/_T9VXVyuEITg/STtlkEBkX0I/AAAAAAAAAmM/1FYndgjniZU/s320/oilderrick.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5276923058624683842" //abr /Oil may break through $40 a barrel, since it is skirting very close to that price and has traded as low as $40.81. Recently, I wrote about the trucking and package delivery a href="http://stockerblog.blogspot.com/2008/12/stocks-which-benefit-from-low-oil.html"stocks which could benefit from lower gasoline prices/a.br /br /With the price of oil and natural gas tanking, investors are now looking closely at the utility stocks that use oil and gas as a major fuel source of their electrical generation. Hopefully, the cost savings for these companies will pass through to the bottom line long before the Utilities Commissions implement rate reductions. br /br /Pinnacle West Capital Corp. (PNW) has one of the heaviest exposures, with 24% of their electric energy coming from oil and natural gas. About 35% comes from coal and 21.5% from nuclear. This Phoenix, Arizona based company has a PE of 11, a PEG of 2.62 and a yield of 7.2%.br /br /Westar Energy Inc. (WR) generates about 34% of its energy from natural gas, with 56% from coal and 9% from nuclear. This utility which serves Kansas has a PE of 12, a PEG of 3.11 and a yield of 6.2%.br /br /Entergy Corp. (ETR) has about 18% of its fuel sources coming from oil and natural gas. 12% is from coal and 33% from nuclear, with the rest purchased. Entergy serves Arkansas, Mississippi, Texas, and Louisiana, including the City of New Orleans, where it is based. The stock has a PE of 13, a PEG of 1.17 and a yield of 3.7%.br /br /OGE Energy Corp. (OGE) has 29% of its energy coming from natural gas, with 51% from coal. They serve the south central United States. The stock has a PE of 9, a PEG of 2.32 and a yield of 6%.br /br /Alliant Energy Corp. (LNT) has 28% of its electricity generated from natural gas and 6% from oil. The company serves Iowa and southern Minnesota. The stock has a PE of 8, a PEG of 1.78 and a yield of 4.9%.br /br /Cleco Corp. (CNL), another Louisiana based company, with 14% exposure to natural gas. The stock has a PE of 13, a PEG of 0.99 and a yield of 4.2%.br /br /If you like utility stocks, you should take a look at a href=" http://stockerblog.blogspot.com/2008/07/highest-yielding-electric-utilities-for.html"Highest Yielding Electric Utilities/a and a href=" http://stockerblog.blogspot.com/2008/07/highest-yielding-natural-gas-utilities.html"Highest Yielding Natural Gas Utilities/a. You can also find an Excel database of utility stocks, which you can download, add to and sort, at a href="http://WallStreetNewsNetwork.com"WallStreetNewsNetwork.com/abr /br /emAuthor does not own any of the above./embr /br /By Fred Fuld at a href="http://Stockerblog.com"Stockerblog.com/adiv class="blogger-post-footer"div class='adsense' style='text-align:center; padding: 0px 3px 0.5em 3px;' script type="text/javascript"!-- google_ad_client="ca-pub-2427831169011625"; google_ad_width=300; google_ad_height=250; google_ad_format="300x250_as"; google_ad_type="text"; google_ad_channel ="8681602088"; google_color_border="FFF3DB"; google_color_bg="FFF3DB"; google_color_link="1B0431"; google_color_url="1B0431"; google_color_text="29303B"; //--/script script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js" /script /div

Oklahoma Stocks

Fred Fuld — Thu, 09 Oct 2008 14:46:00 +0000

Oklahoma is a land of innovation. After all, the first parking meter came out of this state. Today Oklahoma is a top producer of automobiles and planes. Centrally located, mild temperatures and low cost of living make Oklahoma a very attractive state. Here are some interesting facts about Oklahoma:

1. Oklahoma’s top exports are pumps for liquids, and liquid elevators.
2. Oklahoma offers an incentive program for new employers generating employment within the state. Its quality jobs program pays up to 5% of the total payroll expense for up to 10 years.
3. The cost of doing business in Oklahoma is the 10th lowest in the country.
4. It is estimated that Oklahoma will be the second largest provider of wind power by 2030.
5. The state’s aerospace industry employs over 143,000 people.
6. There are 4 foreign trade zones within the state.
7. It is expected that service providing industries in Oklahoma will account for 99% of all new employment between 2004 and 2014.
8. By contrast, manufacturing is one the fastest declining industries in the state.
9. Oklahoma’s finance industry provides almost 4% of all jobs in the state.
10. Top industries in the state within the finance industry are: commercial banking and insurance agencies & brokerages.

The following companies are headquartered in Oklahoma:

Devon Energy Corporation (DVN) produces and delivers oil and gas. Devon Energy owns properties throughout the United States. The stock has a PE of 9, a PEG of 1.14, and it pays a yield of 0.7%.

Chesapeake Energy Corporation (CHK) explores, produces, and sells natural gas and oil. The company owns properties in Texas, Alabama, Arkansas, Louisiana, Kansas, Montana, Colorado, and Oklahoma. The stock has a PEG of 0.68, and it pays a yield of 0.9%.

Williams Companies, Inc. (WMB) explores, produces and sells natural gas. The company owns property in Argentina, Venezuela, an throughout the United states. The stock has a PE of 8, a PEG of 0.48, and it pays a yield of 2.0%.

Continental Resources, Inc. (CLR) explores and produces natural gas and oil. The company owns properties in the United States. The stock has a PE of 15, and a PEG of 0.32.

ONEOK Partners, L.P. (OKS) owns and manages gas pipelines. It is also engaged in the production of natural gas liquids, and distribution. The stock has a PE of 10, a PEG of 1.62, and it pays a yield of 7.9%.

Helmerich & Payne, Inc. (HP) provides equipment and personnel for the drilling of oil and gas wells worldwide. The stock has a PE of 9, a PEG of 0.90, and it pays a yield of 0.5%.

Bok Financial Corporation (BOKF) is a financial service company, the company provides ATM, merchants, and small business banking services. The stock has a PE of 20, a PEG of 1.72, and it pays a yield of 1.7%.

ONEOK, Inc. (OKE) buys, transports and markets natural gas. The stock has a PE of 12, a PEG of 1.19, and it pays a yield of 4.7%.

SandRidge Energy Inc. (SD) manages an oil and gas company. It explores and produces oil and gas in the United States. The company has a PEG of 0.53.

OGE Energy Corp. (OGE) produces, transports and sells electricity and natural gas to customers in the United States. The stock has a PE of 12, a PEG of 3.03, and It pays a yield of 4.5%.

Don't forget to check out stocks from some of the other Midwestern states, such as Missouri stocks, Minnesota stocks, Kansas stocks, and Iowa stocks.

Author does not own any of the above.

By Stockerblog.com

Utilities With Heavy Oil and Gas Exposure

Fred Fuld — Sun, 17 Aug 2008 06:59:00 +0000

One way to analyze electric utility stocks is to look at what types of fuel they use to run their generators, and how much exposure to oil and natural gas that they have. If you believe the price of oil and gas has peaked and will continue to drop, then it may be time to take a close look at the electric utility stocks with the highest usage of these fuels.

Pinnacle West Capital Corp. (PNW) has one of the heaviest exposures, with 24% of their electric energy coming from oil and natural gas. About 35% comes from coal and 21.5% from nuclear. This Phoenix, Arizona based company has a PE of 10, a PEG of 3.55 and a yield of 6%.

Westar Energy Inc. (WR) generates about 34% of its energy from natural gas, with 56% from coal and 9% from nuclear. This utility which serves Kansas has a PE of 13, a PEG of 3.28 and a yield of 5%.

Entergy Corp. (ETR) has about 18% of its fuel sources coming from oil and natural gas. 12% is from coal and 33% from nuclear, with the rest purchased. Entergy serves Arkansas, Mississippi, Texas, and Louisiana, including the City of New Orleans, where it is based. The stock has a PE of 16, a PEG of 1.19 and a yield of 3%.

OGE Energy Corp. (OGE) has 29% of its energy coming from natural gas, with 51% from coal. They serve the south central United States. The stock has a PE of 13, a PEG of 3.15 and a yield of 4.2%.

Alliant Energy Corp. (LNT) has 28% of its electricity generated from natural gas and 6% from oil. The company serves Iowa and southern Minnesota. The stock has a PE of 9, a PEG of 2.45 and a yield of 4.1%.

Cleco Corp. (CNL), another Louisiana based company, with 14% exposure to natural gas. The stock has a PE of 12, a PEG of 1.09 and a yield of 3.5%.

If you like utility stocks, you should take a look at Highest Yielding Electric Utilities and Highest Yielding Natural Gas Utilities. You can also find an Excel database of utility stocks, which you can download, add to and sort, at WallStreetNewsNetwork.com

Author does not own any of the above.

By Fred Fuld at Stockerblog.com