A meeting of the Federal Open Market Committee was held in the offices of the Board of Governors of the Federal Reserve System in Washington, D.C., on Tuesday, October 29, 2013, at 1:00 p.m. and continued on Wednesday, October 30, 2013, at 9:00 a.m. PRESENT:
Ben Bernanke, Chairman William C. Dudley, Vice Chairman James Bullard Charles L. Evans Esther L. George Jerome H. Powell Eric Rosengren Jeremy C. Stein Daniel K. Tarullo Janet L. Yellen
Richard W. Fisher, Narayana Kocherlakota, Sandra Pianalto, and Charles I. Plosser, Alternate Members of the Federal Open Market Committee
Jeffrey M. Lacker, Dennis P. Lockhart, and John C. Williams, Presidents of the Federal Reserve Banks of Richmond, Atlanta, and San Francisco, respectively
William B. English, Secretary and Economist Deborah J. Danker, Deputy Secretary Matthew M. Luecke, Assistant Secretary David W. Skidmore, Assistant Secretary Michelle A. Smith, Assistant Secretary Scott G. Alvarez, General Counsel Thomas C. Baxter, Deputy General Counsel Steven B. Kamin, Economist David W. Wilcox, Economist
Top Quality Stocks To Own For 2015: Ingredion Inc (INGR)
Ingredion Incorporated (Ingredion), formerly Corn Products International, Inc., incorporated on March 27, 1997, is a global manufacturer and supplier of starch and sweetener ingredients to a range of industries, including packaged food, beverage, brewing and industrial customers. The Company’s product line includes starches and sweeteners, animal feed products and edible corn oil.
The Company’s starch-based products include both food-grade and industrial starches. The Company’s sweetener products include glucose syrups, high maltose syrups, high fructose corn syrup (HFCS), caramel color, dextrose, polyols, maltodextrins and glucose and syrup solids. The Company’s products are derived primarily from the processing of corn and other starch-based materials, such as tapioca, potato and rice.
The Company’s sweetener products represented approximately 44% of the Company’s net sales for the year ended December 31, 2012. G lucose syrups are fundamental ingredients used in food products, such as baked goods, snack foods, beverages, canned fruits, condiments, candy and other sweets, dairy products, ice cream, jams and jellies, prepared mixes and table syrups. Glucose syrups offer functionality in addition to sweetness to processed foods. High Maltose Syrup is special type of glucose syrup, which is primarily used as a fermentable sugar in brewing beers. High maltose syrups are also used in the production of confections, canning and some other food processing applications. The Company’s high maltose syrups actually speeds the fermentation process, allowing brewers to increase capacity without adding capital.
High fructose corn syrup is used in a variety of consumer products, including soft drinks, fruit-flavored beverages, baked goods, dairy products, confections and other food and beverage products. In addition to sweetness and ease of use, high fructose corn syrup provides body,hum ectancy and aids in browning, freezing point and crystalliza! tion control.
Dextrose has a range of applications in the food and confection industries, in solutions for intravenous and other pharmaceutical applications, and numerous industrial applications like wallboard, biodegradable surface agents and moisture control agents. Dextrose functionality in foods, beverages and confectionary includes sweetness control; body and viscosity; acts as a bulking, drying and anti-caking agent; serves as a carrier; provides freezing point and crystallization control; and aids in fermentation. Dextrose is also a fermentation agent in the production of light beer. In pharmaceutical applications dextrose is used in IV solutions as well as an excipient suitable for direct compression in tableting.
Polyols products are sugar-free, reduced calorie sweeteners primarily derived from starch or sugar for the food, beverage, confectionery, industrial, personal and oral care, and nutritional supplement markets. In addition to sweetn ess, polyols inhibit crystallization; provide binding, humectancy and plasticity; add texture; extend shelf life; prevent moisture migration, and are an excipient suitable for tableting.
Maltodextrins and Glucose Syrup Solids products have a multitude of food applications, including formulations where liquid syrups cannot be used. Maltodextrins are resistant to browning, provide solubility, have a low hydroscopicity (do not retain moisture), and are ideal for their carrier/bulking properties. Glucose syrup solids have a bland flavor, remain clear in solution are easy to handle and provide bulking properties.
The Company’s starch products represented approximately 37 % of the Company’s net sales for 2012. Starches are an important component in a range of processed foods, where they are used for adhesions, clouding, dusting, expansion, fat replacement, freshness, gelling, glazing, mouth feel, stabilization and texture. Sta rches are also used in paper production to create a smooth s! urface fo! r printed communications and to improve strength in recycled papers. Specialty starches are used for enhanced drainage, fiber retention, oil and grease resistance, improved printability and biochemical oxygen demand control. Industrial starches are used in the production of construction materials, textiles, adhesives, pharmaceuticals and cosmetics, as well as in mining, water filtration and oil and gas drilling. Specialty starches are used for biomaterial applications including biodegradable plastics, fabric softeners and detergents, hair and skin care applications, dusting powders for surgical gloves and in the production of glass fiber and insulation.
Co-Products and others
Co-products and others accounted for 19% of the Company’s net sales for 2012. Refined corn oil (from germ) is sold to packers of cooking oil and to producers of margarine, salad dressings, shortening, mayonnaise and other foods. Corn gluten feed is sold as animal feed. Corn gl uten meal is sold as high protein feed for chickens, pet food and aquaculture.
The Company competes with ADM Corn Processing Division (ADM), Cargill, Inc. and Tate & Lyle Ingredients Americas, Inc.
- [By Jeremy Bowman]
What: Shares of Ingredion (NYSE: INGR ) were down as much as 10% today after the ingredient seller cut its full-year and current-quarter EPS forecast.
- [By Seth Jayson]
Calling all cash flows
When you are trying to buy the market’s best stocks, it’s worth checking up on your companies’ free cash flow once a quarter or so, to see whether it bears any relationship to the net income in the headlines. That’s what we do with this series. Today, we’re checking in on Ingredion (NYSE: INGR ) , whose recent revenue and earnings are plotted below.
- [By Dividends4Life]
Memberships and Peers: ADM is a member of the S&P 500, a Dividend Aristocrat, a member of the Broad Dividend Achievers™ Index and a Dividend Champion. The company’s peer group includes: Bunge Limited (BG) with a 1.6% yield, Ingredion Incorporated (INGR) with a 2.4% yield and Griffin Land & Nurseries Inc. (GRIF) with a 0.7% yield.
Top Quality Stocks To Own For 2015: China Yuchai International Limited (CYD)
China Yuchai International Limited, through its subsidiaries, manufactures and sells diesel and natural gas engines primarily in the Peoples Republic of China (PRC). It operates in two segments, Yuchai and HLGE. The company provides engines for light, medium, and heavy-duty for highway vehicles; generator sets; and marine and industrial applications, as well as supplies after-market parts and services. It also offers diesel power generators that are used in the construction and mining industries; diesel engine parts; and remanufacturing services. In addition, the company operates hotels and engages in property development activities primarily in the PRC and Malaysia. It distributes its products directly to auto plants and agents. The company was founded in 1951 and is based in Singapore.
- [By Rich Duprey]
Following the abrupt resignation of director and President Benny H. Goh on May 27, China Yuchai International (NYSE: CYD ) has been operating with an interim officer, Kok Ho Leong, who also held the position of CFO while a replacement was found.
Top Quality Stocks To Own For 2015: Dana Holding Corporation (DAN)
Dana Holding Corporation engages in the design, manufacture, and supply of driveline products, technologies, and service parts for vehicle manufacturers worldwide. The company operates in four segments: Vehicle Driveline Technologies, Commercial Vehicle Driveline Technologies, Off-Highway Driveline Technologies, and Power Technologies. It provides light axles, driveshafts, engine sealing products, thermal products, and related service parts for light trucks, sport utility vehicles, crossover utility vehicles, vans, and passenger cars. The company also offers axles, driveshafts, chassis and side rails, ride controls and related modules and systems, engine sealing products, thermal products, and related service parts for medium- and heavy-duty trucks, buses, and other commercial vehicles. In addition, it provides axles, driveshafts, suspension components, transmissions, electronic controls, related modules and systems, engine sealing products, thermal products, and related s ervice parts for construction and earth moving machinery; agricultural, mining, forestry, rail, and material handling equipment; and various non-vehicular and industrial applications. Dana Holding Corporation was founded in 1904 and is headquartered in Maumee, Ohio.
- [By Rich Duprey]
Auto parts supplier Dana Holding (NYSE: DAN ) announced today it is expanding its share repurchase program to $1 billion, representing a $900 million increase over the $100 million bought back under the previous authorization. Shares will be bought back over the next two years.
- [By Rich Duprey]
Auto components manufacturer Dana Holding (NYSE: DAN ) announced yesterday its third-quarter dividend of $0.05 per share, the same rate it’s paid since it began making a payout last year. The board of directors said the quarterly dividend is payable on Aug. 30 to the holders of record at the close of business on Aug. 9.
Top Quality Stocks To Own For 2015: Box Ships Inc.(TEU)
Box Ships Inc. owns and operates containerships. As of August 16, 2011, it operated a fleet of 7 containerships with a total carrying capacity of 33,237 twenty-foot equivalent units. The company was founded in 2010 and is based in Athens, Greece.
- [By Monica Gerson]
Box Ships (NYSE: TEU) shares fell 20.38% to reach a new 52-week low of $1.90 after the company priced 5 million units at $2.05 per unit.
Toyota Motor (NYSE: TM) shares reached a new 52-week low of $104.90. Toyota shares have dropped 4.90% over the past 52 weeks, while the S&P 500 index has gained 17.50% in the same period.
- [By Monica Gerson]
Box Ships (NYSE: TEU) slipped 18.49% to $1.94 after the company priced 5 million units at $2.05 per unit.
China Auto Logistic (NASDAQ: CALI) shares dropped 9.06% to $3.17 after the company announced 2013 results. China Auto Logistic posted its net income of $524,260, or $0.14 per share.
Top Quality Stocks To Own For 2015: Miller Industries Inc. (MLR)
Miller Industries, Inc. manufactures and sells vehicle towing and recovery equipment. The company offers wreckers, such as conventional tow trucks and recovery vehicles used to recover and tow disabled vehicles and other equipment; and car carriers, which are specialized flat-bed vehicles with hydraulic tilt mechanisms used to transport new or disabled vehicles and other equipment. It also provides transport trailers for moving multiple vehicles, auto auctions, car dealerships, leasing companies, and other similar applications. The company sells its products under the brand names of Century, Vulcan, Challenger, Holmes, Champion, Chevron, Eagle, Titan, Jige, and Boniface. Miller Industries offers its products through independent distributors and prime contractors in the United States, Canada, Mexico, Europe, the Pacific Rim, the Middle East, South America, and Africa. The company was founded in 1994 and is based in Ooltewah, Tennessee.
- [By Marc Bastow]
Vehicle towing and recovery equipment manufacturer Miller Industries (MLR) raised its quarterly dividend 7.1% to 15 cents per share, payable March 24 to shareholders of record as of March 17.
MLR Dividend Yield: 3.11%
- [By Seth Jayson]
There’s no foolproof way to know the future for Miller Industries (NYSE: MLR ) or any other company. However, certain clues may help you see potential stumbles before they happen — and before your stock craters as a result.
Top Quality Stocks To Own For 2015: Daimler AG (DDAIF)
Daimler AG (Daimler), incorporated on May 6, 1998, develops, manufactures, distributes and sells a range of automotive products, mainly passenger cars, trucks, vans and buses. It also provides financial and other services relating to its automotive businesses. The Company offers its automotive products and related financial services primarily in Western Europe and in the North American Free Trade Agreement (NAFTA) region, which consists of the United States, Canada and Mexico. During the year ended December 31, 2009, the Company derived approximately 46% of its revenue from sales in Western Europe and 21% from sales in the United States. It operates in five segments: Mercedes-Benz Cars, Daimler Trucks, Mercedes-Benz Vans, Daimler Buses and Daimler Financial Services. Its other business interests consist primarily of its equity investments in the European Aeronautic Defence and Space Company EADS N.V. (EADS) and in Tognum AG. In October 2009, Deutsche Bank AG completed the disposal of its interest in the Company. In June 2011, Daimler AG and Rolls-Royce Holdings PLC had secured around 94% interest in Tognum AG-DJ.
Mercedes-Benz Cars designs, produces and sells Mercedes-Benz passenger cars, Maybach luxury sedans and smart micro compact passenger cars. During 2009, Mercedes-Benz Cars contributed approximately 51% of the Company’s revenue. The Company offers Mercedes-Benz passenger cars with a range of diesel and gasoline engines. Under the AMG brand, it offers versions of Mercedes-Benz vehicles with V8 or V12 engines in all classes, except in the A-, B-, R-, GL- and GLK-Classes. The Mercedes-Benz passenger car product range consists of S-Class, E-Class, C-Class, A-/B-Classes and ML-/R-/G-/GL-/GLK-Classes.
The S-Class is a line of luxury sedans, which are available in short and long wheelbase versions. In June 2009, the Company introduced a new generation of the S-Class sedans, including a hybrid version, the new S 400 BlueHYBRID. The S-Class sed! ans are complemented by the CL, a top-of-the-line two-door coupe, and the SL, a luxury roadster. The E-Class is a line of luxury sedans, coupes, convertibles and station wagons. It also offers the CLS, a four-door coupe based on the E-Class. The C-Class is a line of compact luxury sedans and station wagons. The CLC Sports Coupe and the SLK, a two-seat roadster, complement the C-Class product family.
The A-Class is a front wheel drive compact and the B-Class is a front wheel drive 4-door Compact Sports Tourer (CST). The Company does not offer the A- and B-Classes in the United States. The ML-Class is a line of sport utility vehicles with permanent all-wheel drive. The R-Class is a line of SUV Tourers, which is available in a short and a long wheelbase version. The GL-Class is a line of seven seat luxury sport utility vehicles. The GLK-Class is a line of compact sport utility vehicles. The G-Class is a line of cross country vehicles with permanent four-wheel driv e that come in a short and a long wheelbase version, and as a convertible. Under the Maybach brand, the Company offers a line of luxury sedans with outstanding luxury, comfort, and individuality. Maybach sedans are available in a short and a long wheelbase version, including the Maybach 57S and 62S as sportier variations. The smart brand represents a micro compact car concept. It offers two models, the smart fortwo coupe and the smart fortwo cabrio.
Daimler Trucks manufactures and sells trucks and specialty vehicles under the brand names Mercedes-Benz, Freightliner, Western Star, Thomas Built Buses and Fuso. During 2009, Daimler Trucks contributed approximately 21% of its revenue. During 2009, the Company ceased production of trucks under the Sterling brand name. The Company’s European Mercedes-Benz truck lines consist of the Actros and the Axor in the heavy-duty category, the Atego in the medium-duty category, and the specialty v ehicles Econic and Zetros. The Unimog, a four-wheel drive ve! hicle for! special purpose applications, complements the line-up. In Turkey and Brazil, it manufactures heavy-duty and medium-duty trucks for the respective local and certain export markets. Its Mercedes-Benz trucks range from 6 metric tons gross vehicle weight (GVW) to 41 metric tons GVW.
The Company’s United States subsidiary, Daimler Trucks North America LLC, manufactures trucks and buses (based on truck chassis) in Classes 3 through 8 (from 9,000 lbs. GVW to 160,000 lbs. GVW) and sells them under the Freightliner, Western Star, and Thomas Built Buses brand names, primarily in the NAFTA region. It also manufactures chassis for trucks, buses, walk-in vans and motor homes in Classes 3 through 7 (from 10,000 lbs. GVW to 33,000 lbs. GVW). During 2009, Freightliner introduced a new version of the Coronado, an on-highway truck. It Japan-based subsidiary, Mitsubishi Fuso Truck and Bus Corporation (MFTBC), offers a truck portfolio and several bus lines, primarily for the Jap anese and other Asian markets. The line-up includes the Canter trucks (light-duty), the Fighter trucks (medium-duty) and the Super Great trucks (heavy-duty) and also certain bus models (Rosa and Aero). MFTBC also sells trucks in Africa, Australia, Europe, Latin America and the United States.
Mercedes-Benz Vans designs, manufactures and sells vans under the brand names Mercedes-Benz and Freightliner. During 2009, Mercedes-Benz Vans contributed approximately 8% of its revenue. The Company offers three lines of Mercedes-Benz vans between 1.9 metric tons (t) and 7.5t gross vehicle weight (GVW): the Vario, the Vito/Viano and the Sprinter. In the NAFTA region it sells the Sprinter under the Freightliner brand name and, since January 1, 2010, also under the Mercedes-Benz brand name. As of December 31, 2009, subsidiaries of Chrysler Holding LLC sold the Sprinter in the United States under the Dodge and Freightliner brand names, and in C anada under the Dodge brand name.
Daimler Buse! s
Daimler Buses is a global supplier in the worldwide bus market. During 2009, Daimler Buses contributed approximately 5% of the Company’s revenue. Its product portfolio includes city buses, coaches, intercity buses, midi buses and bus chassis. It sells complete buses under the Mercedes-Benz and Setra brands in Europe, under the Mercedes-Benz brand name in Mexico, and under the Setra and Orion brand names in the United States and Canada. In addition, Daimler Buses produces and sells worldwide a range of bus chassis under the brand name Mercedes-Benz.
Daimler Financial Services
The Company’s financial services activities contributed approximately 15% of its revenue during 2009. It consists principally of financing and leasing services supporting its Mercedes-Benz and other vehicle businesses. The financial services the Company offers consist mainly of customized financing and leasing packages for its retail and wholesale customers in the au tomotive sector. It also provides financing to its dealers for vehicle inventory and property, plant and equipment purchases, and it offers insurance brokerage and fleet management services, including dealer property and casualty insurance. In Germany, the Company operates a licensed bank, the Mercedes-Benz Bank. The Mercedes-Benz Bank offers financial services to its customers and employees in Germany. These services include leasing and sales financing services, car savings plans, credit cards and demand deposit accounts. In addition, the Mercedes-Benz Bank operates branches in Great Britain and Spain to refinance the local dealer portfolios.
The Company competes with BMW, Volkswagen, Fiat, Ford, General Motors, PSA, Renault, Tata Motors, Toyota, Honda, Nissan, Suzuki, Scania, Iveco, Volvo, DAF, Navistar International, Paccar, Hino, Isuzu, MAN Commercial Vehicles, Irisbus and Agrale.
- [By Katie Spence]
Two of the biggest luxury auto brands in the world are throwing their respective hats into the electric-car ring. In one corner is BMW’s (NASDAQOTH: BAMXF ) i3. In the other corner is Daimler’s (NASDAQOTH: DDAIF ) Mercedes-Benz B-Class. So, which one will end up the EV winner?
- [By Alexander MacLennan]
We talk a lot about the growing middle class in China, but the growing wealth of the rich elite is also a valuable market. Luxury automakers know this well and have been reacting with billions in investment. Late last month, Daimler AG (NASDAQOTH: DDAIF ) announced that it and its joint-venture partner would spend 1 billion euros to double production of Mercedes-Benz vehicles. This comes as demand for Mercedes-Benz vehicles continues to rise, with deliveries rising 57% in the first two months of this year.
Top Quality Stocks To Own For 2015: Northern Financial Corp (NFC)
Northern Financial Corporation (Northern) is engaged in full service investment dealer business, through its wholly owned subsidiary, Northern Securities Inc. (Northern Securities), providing financial advisory services to retail and institutional clients and investment banking services to small capitalization companies. The Company’s business generates revenue from commissions and advisory fees earned on investment banking activities, and commissions from institutional sales and trading and retail investment advisors, and from principal trading. Northern is also engaged in merchant banking business that supplements the investment dealer business. Northern Securities is a member firm of the Investment Industry Regulatory Organization of Canada (IIROC). Advisors’ Opinion:
- [By Holly LaFon]
Several financial institutions and credit card companies along with companies like Google, Inc. (GOOG), Apple, Inc. (AAPL), and Paypal have aspirations to be players in the emerging sector of mobile payments. Mobile payments allow you to pay for goods or service from your phone instead of paying with cash, check, or credit cards. Today, these payment mechanisms are restricted to premium SMS, direct carrier billing, website purchases through a mobile browser, and Near Field Communications (NFC). NFC is a set of standards for smartphones and similar devices that allow them to communicate with each other without touching, but by being in close proximity. NFC devices can be used in contactless payment systems, similar to those used in credit cards, to allow mobile payment to replace or supplement existing credit card and debit card type systems. The combined market for all types of mobile payments is expected to reach more than $600 billion globally by 2013. Google, Inc., a Ba ron investment, is currently the only company that has a large commercial NFC deployment in the market today. As Google pushes further into local advertising and promotions, it plans to utilize Google Wallet to enhance its relationship with consumers and businesses. Google Wallet is a mobile payment system developed by Google that allows smartphone users to store credit cards, loyalty card, and gift cards on their mobile phones, utilizing NFC for the payment of goods and services. Consumers will be able to redeem promotions or loyalty programs through Google Wallet, enabling stores to enhance their relationships with consumers.
Top Quality Stocks To Own For 2015: QEP Resources Inc (QEP)
QEP Resources, Inc. (QEP), incorporated on May 17, 2010, is a holding company. The Company operates in three lines of business: gas and oil exploration and production, midstream field services, and energy marketing. It conducted through three principal subsidiaries: QEP Energy Company (QEP Energy) acquires, explores for, develops and produces natural gas, oil, and natural gas liquids (NGL); QEP Field Services Company (QEP Field Services) provides midstream field services, including natural gas gathering, processing, compression and treating services for affiliates and third parties; andQEP Marketing Company (QEP Marketing) markets affiliate and third-party natural gas and oil, provides risk-management services, and owns and operates an underground gas-storage reservoir. QEP operates in the Northern and Southern Regions of the United States and is headquartered in Denver, Colorado. Principal offices are located in Denver, Colorado; Salt Lake City, Utah; Oklahoma City, Oklah oma, and Tulsa, Oklahoma.
QEP’s exploration and production business is conducted through QEP Energy in two core regions, the Northern Region (including the states of Wyoming, Utah, Colorado, New Mexico and North Dakota) and the Southern Region (including the states of Oklahoma, Texas and Louisiana). QEP Energy has approximately 50,800 net acres of Haynesville Shale lease rights in northwest Louisiana and additional lease rights that cover the Hosston and Cotton Valley formations. The depth of the top of the Haynesville Shale ranges from approximately 10,500 feet to 12,500 feet across QEP Energy’s leasehold and is below the Hosston and Cotton Valley formations that QEP Energy has been developing in northwest Louisiana for over a decade. As of December 31, 2011, QEP Energy had three operated rigs drilling in the project area. QEP Energy’s Midcontinent properties cover all properties in the Southern Region except the Haynesville/Cotton Valley area of northwes t Louisiana and are distributed over an area, including the ! Anadarko Basin of Oklahoma and the Texas Panhandle. QEP Energy has approximately 77,000 net acres of Woodford Shale lease rights in western Oklahoma. QEP Energy has approximately 38,700 net acres of Granite Wash/Atoka Wash lease rights in the Texas Panhandle and western Oklahoma and has been drilling vertical Granite Wash/Atoka Wash wells. The Company estimates that up to 1,100 additional wells will be required to fully develop its Pinedale acreage on a combination of 5 and 10-acre density. In addition to QEP Energy’s gross producing wells, QEP Energy had an overriding royalty interest in an additional 21 wells at Pinedale. QEP Energy owns interests in approximately 255,200 net leasehold acres in the Uinta Basin. The remainder of QEP Energy Northern Region leasehold interests, productive wells and proved reserves are distributed over a number of fields and properties managed as the Rockies Legacy division. Exploration and development activity during the year ended December 31, 2011, includes wells in the Powder River and Greater Green River Basins in Wyoming and the Williston Basin in North Dakota. QEP Energy has approximately 90,000 net acres of lease rights in the Williston Basin in western North Dakota, where the Company is targeting the Bakken and Three Forks formations.
QEP Energy Company
QEP Energy is actively involved in several of North America’s hydrocarbon resource plays. QEP’s exploration and production activities are conducted through QEP Energy. P Energy operates in two core regions: the Northern Region (including the states of Wyoming, Utah, Colorado, New Mexico and North Dakota) and the Southern Region (including the states of Oklahoma, Texas and Louisiana). The Southern Region contributed approximately 56% of 2011 production while the Northern Region contributed the remaining 44%. QEP Energy reported 3,614 billion cubic feet of natural gas equivalent of estimated proved reserves as of December 31, 2011. Of those estimated proved reserves, approximately 64%! , or 2,31! 2 billion cubic feet of natural gas equivalent, were located in the Northern Region at December 31, 2011. The remaining 36%, or 1,302 billion cubic feet of natural gas equivalent at December 31, 2011, were located in the Southern Region. QEP Energy has an inventory of identified development drilling locations, primarily on the Pinedale Anticline in western Wyoming; the Haynesville/Cotton Valley area in northwestern Louisiana; the Midcontinent area with properties primarily in Oklahoma and Texas; the Uinta Basin in eastern Utah, and the Rockies Legacy, which includes the Bakken/Three Forks area in western North Dakota and other properties in Wyoming.
QEP Field Services Company
QEP invests in midstream (gathering, processing and treating) systems to complement its natural gas, oil and natural gas liquids (NGL) operations in regions where QEP Energy has production. In addition, QEP’s midstream business also provides midstream services to third-party customers, including independent producers. QEP Field Services owns various natural gas gathering, treating and processing facilities in the Northern and Southern Regions as well as 78% of Rendezvous Gas Services, LLC, (RGS), a partnership that operates gas gathering facilities in western Wyoming. The FERC-regulated Rendezvous Pipeline Co., LLC (Rendezvous Pipeline), a wholly owned subsidiary of QEP Field Services, operates a 21-mile, 20-inch-diameter pipeline between QEP Field Services’ Blacks Fork gas-processing plant and the Muddy Creek compressor station owned by Kern River Gas Transmission Co. (Kern River Pipeline). RGS gathers natural gas for Pinedale Anticline and Jonah Field producers for delivery to various interstate pipelines. QEP Field Services also owns 38% of Uintah Basin Field Services, LLC (UBFS) and 50% of Three Rivers Gathering, LLC (Three Rivers). These two partnerships operate natural gas gathering facilities in eastern Utah.
QEP Marketing Company
QEP Marketing provides wholesale market! ing and s! ales of affiliate and third-party natural gas, oil and NGL. As a wholesale marketing entity, QEP Marketing concentrates on markets in the Rocky Mountains, Pacific Northwest and Midcontinent that are either close to affiliate reserves and production or accessible by pipelines. QEP Marketing contracts for firm-transportation capacity on pipelines and firm-storage capacity at Clay Basin, a baseload-storage facility. QEP Marketing, through its subsidiary Clear Creek Storage Company, LLC, owns and operates an underground gas-storage reservoir in southwestern Wyoming. QEP Marketing uses owned and leased storage capacity together with firm-transportation capacity.
- [By Daniel Gibbs]
Strong forward growth prospects
Towards the end of 2013, Vanguard announced that it is spending $581 million to acquire a stake in two of the most prolific natural gas fields in the United States. These two fields are the Pinedale Anticline and Jonah fields located in southwestern Wyoming. The fields currently contain 2,000 producing wells between them, but Ultra Petroleum (NYSE: UPL ) and QEP Resources (NYSE: QEP ) , the operators for the fields and Vanguard’s partners in the development of these fields, plan to drill another 970 wells, which will obviously substantially increase Vanguard’s production from the fields going forward.
- [By Lauren Pollock]
QEP Resources Inc.(QEP) plans to separate its midstream business, QEP Field Services Co., into a separate entity, including its interest in QEP Midstream Partners LP(QEPM).
- [By Aimee Duffy]
QEP Midstream Partners is about to become a real, live master limited partnership. Parent company QEP Resources (NYSE: QEP ) has filed the appropriate paperwork with the SEC, and while we don’t know specifics regarding the number of shares, or how the offering will be priced, the S-1 is chock-full of information for prospective investors.
- [By Eric Volkman]
QEP Resources (NYSE: QEP ) is letting its dividend flow. The company has declared a quarterly payout of $0.02 per share, to be paid on June 22 to shareholders of record as of June 3. That amount is in line with all of the firm’s previous distributions stretching back to the first one it handed out in September 2010.
Top Quality Stocks To Own For 2015: Emak SpA (EM)
Emak SpA is an Italy-based company primarily engaged in the manufacture of outdoor power equipment for gardening, forestry, agriculture and industry. The Company’s portfolio includes chainsaws, brush cutters, lawnmowers, garden tractors, water pumps, high pressure washers, transporters, rotary cultivators, motor hoes and power cutters, among others. It also manufactures spare parts, accessories and protective clothing. The Company sells its products under various brand names, such as Oleo-Mac, Efco, Bertolini, Nibbi and Staub. Emak SpA directly manages distribution in the Italian market and it sells products, through its commercial subsidiaries, in France, Germany, the United Kingdom, Spain, the countries of Benelux, Poland, Ukraine, among others.The Company is controlled by Yama SpA, which is an industrial holding company. Advisors’ Opinion:
- [By Canadian Value]
For 20+ years there has been a coherent growth story around Emerging Markets (EM), where the label “Emerging Market” had real meaning within a common knowledge perspective. Today … not so much. Today the story is that it was easy money from the Fed that drove global growth, EM or otherwise. Today the story is that Emerging Markets are just the levered beneficiaries or victims of Fed monetary policy, no different than anyone else….
- [By Holly LaFon]
As true value investors, Brandes oft en moves against the crowd amid markets’ constantly changing performance cycles. Take the recent equity market weakness in a number of emerging market (EM) countries for example. Over the last year, while macroeconomic and geopolitical concerns cast a cloud of uncertainty over the asset class in general, we started to see some interesting investment opportunities at the company level as a result of such market weakness.
- [By Federico Zaldua]
Brookfield Infrastructure has a number of potentially profitable areas for investment around the world but, above all, in infrastructure hungry Emerging Markets (EM) such as Brazil. According to Credit Suisse analysts, in Brazil, funds can be invested at Funds From Operations (FFO) yields above 12%. Therefore, the company’s ability to grow its distribution yield, whether through acquisitions or organically, is critical to evaluate the company’s value. Moreover, the currently conservative dividend payout ratio should allow Brookfield Infrastructure to self-finance on going opportunities.