Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on VERESEN INC. We currently have 31 research reports from 1 professional analysts.
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HOSTS 2016 INVESTOR DAY
27 Sep 16
Impact: Neutral. Veresen's Investor Day on September 27, 2016, provided the investment community with an indepth review of Veresen's historic, current, and future business operations. Senior management took the opportunity to discuss relevant issues and situations that impact each business and how the team intends to navigate its way forward. Veresen's future growth program is fully funded, assuming a sale of the Power business. Potential positive catalysts for the stock include a sale of the Power business in 1Q17e (to close in 1H17e) and incremental projects within Veresen midstream to be announced over the next 12 months.
SECURES $650 MM OF NEW CREDIT FACILITIES WITHIN VERESEN MIDSTREAM
07 Sep 16
Impact: Positive. Veresen Midstream has increased its borrowing capacity to fund its contracted capital growth program without the need of further financing. The majority of this available capital will be directed towards Veresen Midstream's contracted capital projects under construction, including the Sunrise, Tower and Saturn processing facilities. We estimate that Veresen Midstream, and its partners, have ~$1.5 bn left to spend on its capital projects under construction as it had incurred ~$1 bn of capital expenditures when it reported its 2Q16 financials. Veresen expects that with the funds from the pending power asset divestiture and this additional access to capital will fully fund the Company's $1.4 bn contracted capital growth program.
Releases Strong 2Q16 Results; Looks to Divest Power Business; Suspends DRIP
05 Aug 16
Veresen reported Distributable Cash Flow (DCF) of $94 mm compared to our estimate of $79 mm; in particular, the Pipeline division outperformed our estimates. Veresen has increased its previously announced Distributable Cash Flow guidance range of $0.94/share to $1.08/share up to a range of $1.03/share to $1.13/share. In an effort to focus on its core natural gas and NGL infrastructure business, Veresen has announced its intention to divest the power business. Veresen’s Board of Directors has elected to suspend the Premium Dividend and Dividend Reinvestment Plan. Our Outperform ranking and 12-MTP of $14.25/share remains unchanged.
RELEASES STRONG 2Q16 RESULTS; LOOKS TO DIVEST POWER BUSINESS; SUSPENSION OF DRIP
03 Aug 16
Impact: Positive. On its cash-based results, Veresen reported Distributable Cash Flow (DCF) of $94 mm compared to our estimate of $79 mm; in particular, the Pipeline division outperformed our estimates. Management expects to be able to achieve its FY2016 targets with distributable cash in the range of $1.03 to $1.13 per share (FCCe: $0.98/share prior to 2Q results).
N+1 Singer - Morning Song 21-03-2017
21 Mar 17
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N+1 Singer - Augean - Double digit growth in ’16, good start to ‘17
21 Mar 17
Augean reported another year of double digit growth for 2016, with profits in line with our forecasts. Sales grew by 21% excluding landfill tax, while adjusted PBT grew by 18% to £7.1m before amortisation of acquired intangibles. DPS was increased by 54% to 1.0p, 25% ahead of our estimate. The business units made further strategic progress, with revenues from their top 20 customers increasing from 42% to 43% of the total, of which 88% was under contract or a framework agreement, increasing forward visibility. There has been an encouraging start to 2017 and management is confident of delivering another year of profits growth. The shares trade on undemanding single digit multiples, offering good value.