Last $47.80 USD
Change Today -0.20 / -0.42%
Volume 552.0K
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As of 8:04 PM 09/19/14 All times are local (Market data is delayed by at least 15 minutes).

laclede group inc/the (LG) Key Developments

Laclede Group Seeks Acquisitions

The Laclede Group, Inc. (NYSE:LG) will consider acquisitions. Steve Rasche, Executive Vice President and Chief Financial Officer of Laclede Group said, "As we move forward, we believe that acquisitions are part of our story, likely more add-ons and inside the jurisdictions that we currently operate in."

The Laclede Group, Inc. Presents at Bank of America Merrill Lynch Power and Gas Leaders Conference, Sep-16-2014 09:30 AM

The Laclede Group, Inc. Presents at Bank of America Merrill Lynch Power and Gas Leaders Conference, Sep-16-2014 09:30 AM. Venue: The Four Seasons Hotel, Boston, Massachusetts, United States. Speakers: Steven P. Rasche, Chief Financial Officer and Executive Vice President.

The Laclede Group, Inc. Presents at AGA New York Financial Mini-Forum, Sep-11-2014 08:00 AM

The Laclede Group, Inc. Presents at AGA New York Financial Mini-Forum, Sep-11-2014 08:00 AM. Venue: The Princeton Club, 15 West 43rd Street, New York, NY 10036, United States.

The Laclede Group, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended June 30, 2014; Provides Earnings Guidance for the Year 2014 and 2015

The Laclede Group, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended June 30, 2014. For the quarter, the company reported total operating revenues of $241.8 million compared to $165.3 million a year ago. Operating income was $24.7 million compared to $12.3 million a year ago. Income before income taxes was $10.9 million compared to $5 million a year ago. Net income was $11.7 million or $0.33 per diluted share compared to $6.6 million or $0.25 per diluted share a year ago. Non-GAAP net economic earnings were $14.5 million or $0.44 per share compared to $8.2 million or $0.36 per share a year ago. Net economic earnings basis, quarterly earnings were $14.5 million, up 77% year-on-year. On a per share basis, net economic earnings were $0.44 per fully diluted share compared to $0.36 per share last year, and a couple of points about this comparison. For the nine months, the company reported total operating revenues of $1,404.9 million compared to $869.9 million a year ago. Operating income was $174.8 million compared to $106.2 million a year ago. Income before income taxes was $142.6 million compared to $88.6 million a year ago. Net income was $99.5 million or $2.97 per basic and diluted share compared to $62.4 million or $2.62 per basic and diluted share a year ago. Net cash provided by operating activities was $185 million compared to $167 million a year ago. Capital expenditures were $109.5 million compared to $96.8 million a year ago. This capital spend is the primary driver for the increase in the utility plant on the balance sheet. Non-GAAP net economic earnings were $102.5 million or $3.12 per share compared to $68.9 million or $3.04 per share a year ago. Overall, net economic earnings were $102.5 million or $3.12 per share. This compares to prior year earnings of $68.9 million or $3.4 per share. This increase of nearly $34 million is due to growth in its gas utility segment of approximately $31.5 million due to MGE and modest customer growth; and favorable impact of weather of approximately $9 million or $0.17 per share in the gas marketing segment, offset by the reduction in run rate Gas Marketing earnings of approximately $7 million due to overall less favorable market conditions, as well as the expiration of two key supply contracts. For the full year fiscal 2014 expectations have not changed, and the company anticipates its run rate net economic earnings to be in line with 2013, acknowledging that the unusually cold winter weather will add another $0.17 per share to its reported net economic earnings in its Gas Marketing segment. And as a reminder, 2014 economic earnings will exclude all the impacts of the Alagasco acquisition consistent with how they treated MGE last year. Looking forward into 2015 and beyond, they remain very comfortable with its long-term earnings per share growth target of between 4% and 6% and its ability to grow above that range in the next two fiscal years or fiscal 2015 and 2016. These earnings fully include the accretion from adding Alagasco to the Laclede family and the financing to support the acquisition, as well as the continued organic growth initiatives across the gas utilities.

The Laclede Group, Inc. Elects Maria Fogarty to its Board of Directors

The Laclede Group, Inc. board of directors voted to increase the size of the board from nine to 10, and elected energy industry veteran Maria Fogarty as its newest member effective August 1, 2014. Fogarty, 55, served as senior vice president of internal audit and compliance for NextEra Energy, Inc. from 2011 through June 30, 2014.

 

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LG

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Valuation LG Industry Range
Price/Earnings 17.7x
Price/Sales 1.1x
Price/Book 1.3x
Price/Cash Flow 12.7x
TEV/Sales 0.3x
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