Nicor GAS

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  2. Commentary
    1. Management Meeting: AGL's Illinois Utility and New Pipelines Could Spell Upside for Investors

      Commentary

      Wed, 21 May 2014

      spread across seven states, AGL has built quite a local distribution company empire. That culminated with the acquisition of Nicor in 2011, a deal we didn't like given the hefty cash component for what we saw as an overvalued utility and our view that

    2. AGL Finally Ditches Tropical Shipping, Guides Wholesale & Utility Results Much Higher on Cold Spikes

      Commentary

      Mon, 7 Apr 2014

      the sale of its shipping segment--a bizarre legacy of the Nicor acquisition--and much stronger-than-expected first ..... expects a roughly $0.15 per share boost to earnings from its Nicor gas utility where rates aren't decoupled from usage because

    3. AGL Resources' 2013 Results Swell on Weather Boost in Illinois, Retail Acquisition

      Commentary

      Wed, 5 Feb 2014

      and non-recurring) performance at the Nicor gas utility. The acquisition of retail ..... further improved by accounting changes at Nicor , which lowered book depreciation. We ..... the change in accounting depreciation at Nicor . Our forecast remains $2.78 per share

    4. AGL's 3Q Results Surge on Wholesale Results and Regulated Investment

      Commentary

      Wed, 30 Oct 2013

      legislation calling for accelerated gas infrastructure spending and recovery would be a material boost, the jury remains out on the Nicor acquisition until we see a favorable rate case outcome following the freeze through December 2014. Illinois is not the favorable

    5. Meeting With State Regulators Highlights State and Federal Divide

      Commentary

      Tue, 29 Oct 2013

      the prospects for higher ROEs when interest rates rise in the future. Gas utilities in Illinois, including AGL Resources' Nicor Gas utility, will be prevented access to the state's new streamlined rate recovery for infrastructure investment, which

    6. AGL's 2Q Improves on Colder Weather, Utility Infrastructure Programs

      Commentary

      Thu, 1 Aug 2013

      investment in the state, where current high rates of regulatory depreciation make new investments less attractive for AGL's Nicor subsidiary. AGL also provided detail on a small acquisition of gas customers it made in June in its retail marketing segment

    7. AGL Resources' Analyst Day Focuses on Weathering the Storm and Upside Beyond 2013

      Commentary

      Thu, 28 Mar 2013

      the company continues to be challenged at its newly acquired Nicor utility in Illinois--where a rate freeze remains until 2015 ..... filing. However, we remain convinced that even with a rate case Nicor will be a drag on AGL's distribution operations and that it

    8. AGL Could Face Rough 2013 if Weather and Natural Gas Demand Remain Mild

      Commentary

      Wed, 6 Feb 2013

      fundamentals led to $2.46 adjusted EPS for full-year 2012, down from $2.92 in 2011. The reported earnings adjust for Nicor -related merger expenses and a regulatory accrual for a one-time penalty. The full-year 2012 results were well below our

    9. Mild Weather and Weak Gas Fundamentals Drive Tepid Performance in AGL Resources' Second Quarter

      Commentary

      Wed, 1 Aug 2012

      continuing low volatility in natural gas markets held back the wholesale and midstream segments. Driven by the inclusion of Nicor 's businesses, EBIT grew to $100 million versus $62 million for the prior-year period. However, profitability slipped

    10. AGL Resources Management Meeting: AGL Talks Regulatory Issues and Gas Infrastructure Dynamics

      Commentary

      Mon, 7 May 2012

      weather-normalization program (though Nicor 's rates contain a large fixed portion ..... the company's proposed settlement of Nicor 's pre-existing performance-based ..... looking to settle an investigation into Nicor 's previous marketing tactics for its

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