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.
Frequency of research reports
Research reports on
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).
20 Feb 17
Hayward Tyler Group* (HAYT): Trading update and financial position (CORP) | Petra Diamonds (PDL): Interim results (BUY) | Gemfields* (GEM): Interim results (CORP) | Premaitha Health* (NIPT): Middle East momentum (CORP) | Sound Energy (SOU): Acquisition update and TE-8 well spud (HOLD) | Proactis* (PHD): Interim trading on track (CORP) | 7digital* (7DIG): Automotive contract win (CORP)
The Slide Rule
12 Jan 17
What is The Slide Rule? The Slide Rule has been designed to dramatically simplify the identification of the best companies in the UK small/mid-cap sector by making a quantitative assessment of the relative potential of each company. At its core, The Slide Rule aims to identify those companies that create genuine shareholder value through strong returns on capital and solid growth, but also present a value opportunity with the potential tailwind of earnings momentum. Companies are assessed within a Quality, Value, Growth and Momentum (QVGM) framework.
21 Feb 17
Lighthouse Group* (LGT): Middle Britain growth (CORP) | Utilitywise* (UTW): Double-digit sales growth (CORP) | Trakm8* (TRAK): Earnings expectations cut again (CORP) | dotDigital* (DOTC): Myriad growth opportunities (CORP) | Artilium* (ARTA): Five-year Telenet deal secured and prepaid (CORP) | Netcall* (NET): Cloud investment pays off (CORP)
N+1 Singer - Small-cap quantitative research - New quality style screen + 11 quality focus stocks
09 Feb 17
We introduce our fourth and final style screen representing “quality”. This screens for stocks with the best combination of high returns on capital/equity, EBIT margins and operating cash-flow conversion rates. These criteria should help us monitor how strong underlying returns translate into share price performance over time and under varying market conditions. The screen selects the “best” 25 stocks from our universe of just over 500 stocks and, as usual, we focus on a shorter list of stocks we cover or otherwise know and believe to be particularly interesting. We provide brief investment summaries on these focus stocks on pages 4 – 9. We will monitor performance and refresh the screen in approximately 3-4 months time.
Emerging from the clouds
16 Feb 17
Rolls-Royce’s underlying performance in FY16 was ahead of both its own and market expectations. Media focus on the non-cash £4.4bn headline FX loss is missing what looks to be the basis for optimism. As the civil model starts to move from investment in engines for the A350 and A330neo into the aftermarket delivery phase over the remainder of the decade, we think cash flow is likely to improve, particularly if supported by an eventual recovery in Marine.