Published On: Wed, Apr 26th, 2017

Stocks in Aggressive Mood: CMS Energy (NYSE:CMS), Equity Residential (NYSE:EQR), Pengrowth Energy (NYSE:PGH)

CMS Energy Corporation (NYSE:CMS) surged 0.09% in last regular trading with 1.25 Million trading volume. CMS Energy (CMS) declared that it filed a request with Michigan Public Service Commission seeking approval to have Forsite acquire two sites; terms of the transaction were not disclosed. The MPSC has up to 180 days to act on the request. It is anticipated the sites will be demolished within two years of the transaction being finalized, pending a positive outcome with the MPSC review.

Terms of the transaction were not disclosed. Consumers retired those two plants, comprised of five generating units and two other units, in April 2016. The board of directors of CMS Energy, the parent company of Consumers Energy, has authorized the contracts with Forsite with the final transactions needing approval by the MPSC.

Corporation has the current ratio of 0.90 for the most recent quarter. How NYSE:CMS Taste Ups And Down- Find Out Here Totally Free

Equity Residential (NYSE:EQR) shown itself as moving stock, surged 1.14% to close at $64.93. Equity Residential (EQR) declared on Tuesday that a key measure of profitability in its first quarter. The results matched Wall Street expectations. The real estate investment trust, based in Chicago, said it had funds from operations of $283.7 million, or 74 cents per share, in the period. The average estimate of 10 analysts surveyed by Zacks Investment Research was for funds from operations of 74 cents per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization. The company said it had net income of $143 million, or 39 cents per share. The real estate investment trust posted revenue of $604.1 million in the period, falling short of Street forecasts. Five analysts surveyed by Zacks expected $604.7 million. For the current quarter ending in July, Equity Residential expects its per-share funds from operations to range from 75 cents to 79 cents. The company expects full-year funds from operations in the range of $3.05 to $3.15 per share.

Its total outstanding shares are 366.76 million shares and a floated share was 359.48 million. Its beta value stands at 0.34 times and price to earnings ratio was 5.17. Why NYSE:EQR on Bearish Notes in Eye of Experts? Get Your Free Report Here

Pengrowth Energy Corporation (NYSE:PGH) climbed 0.99% to settle at $1.02 with the total traded volume of 1.02 Million shares. Pengrowth Energy (PGH) aims to sell remaining Swan Hills assets for $185 million; closing expected to occur on May 31, 2017. The divested assets generated average daily production of ~5,150 barrels of oil equivalent per day (boe per day) during the fourth quarter of 2016 and had Proved plus Probable reserves of 21.0 million boe assigned to them as at December 31, 2016, according to the independent reserve evaluators GLJ Petroleum Consultants Ltd. Will result in total disposition proceeds of $707 million to date in 2017.

The effective date of the sale is January 1, 2017 and closing is expected to occur on May 31, 2017.The Company expects to use the proceeds from this sale to further reduce its indebtedness, including prepaying the remaining outstanding US $100 million (equivalent Cdn $134 million) of the 6.35% senior term notes which are slated to mature on July 26, 2017. The prepayment is expected to be completed before the end of the second quarter following which the Company will have no further term debt due until August 2018. Upon closing of all reported dispositions and application of proceeds to debt repayment, Pengrowth’s debt would fall to ~Cdn $700 million, representing a decline in debt levels of ~60% since December 31, 2016.

The firm’s shares performance for the last one month was -7.27% and -3.77% in the previous week, whereas year to date performance was calculated -28.17%.Why Investors Right to Know NYSE:PGH Performance? Find Facts Here

 

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