Last C$15.64 CAD
Change Today -0.44 / -2.74%
Volume 2.8M
VSN On Other Exchanges
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As of 4:51 PM 12/19/14 All times are local (Market data is delayed by at least 15 minutes).

veresen inc (VSN) Snapshot

Open
C$16.28
Previous Close
C$16.08
Day High
C$16.31
Day Low
C$15.63
52 Week High
07/23/14 - C$19.80
52 Week Low
12/23/13 - C$13.86
Market Cap
4.4B
Average Volume 10 Days
3.2M
EPS TTM
C$0.17
Shares Outstanding
283.4M
EX-Date
12/29/14
P/E TM
92.0x
Dividend
C$1.00
Dividend Yield
6.39%
Current Stock Chart for VERESEN INC (VSN)

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veresen inc (VSN) Details

Veresen Inc. owns and operates energy infrastructure assets in North America. It operates in three segments: Pipeline, Midstream, and Power. The Pipeline segment owns a 50% interest in the Alliance Pipeline, an integrated pipeline system consisting of approximately 3,000 kilometer high pressure natural gas mainline pipeline located in Canada and the United States; a series of lateral pipelines located in Canada; the Tioga Lateral pipeline project located in North Dakota; and related infrastructure. This segment also owns a 100% interest in the Alberta Ethane Gathering System, a 1,330 kilometer pipeline that transports ethane within Alberta from various ethane extraction plants to petrochemical complexes located near Joffre and Fort Saskatchewan, Alberta. The Midstream segment operates the Hythe/Steeprock midstream gas gathering and processing complex in northwest Alberta and northeast British Columbia; and a natural gas liquids (NGL) extraction and fractionation facility that recovers ethane, propane, normal butane, iso-butane, and natural gasoline located at Channahon, Illinois. This segment also operates downstream distribution and gas facilities; NGL injection facilities in Alberta and British Columbia; and off-gas processing facility located in Fort Saskatchewan, Alberta. In addition, the Midstream segment owns Palermo conditioning plant that removes the hydrocarbon compounds; and the Prairie Rose pipeline, which gathers gas from the Palermo Conditioning Plant and other sources for delivery into the Alliance Pipeline system. The Power segment is engaged in the gas-fired, wind, and run-of-river power generation; district energy; and waste heat generation activities in Ontario, British Columbia, and the Western United States. The company was formerly known as Fort Chicago Energy Partners L.P. and changed its name to Veresen Inc. in January 2011. Veresen Inc. was founded in 1997 and is headquartered in Calgary, Canada.

Founded in 1997

veresen inc (VSN) Top Compensated Officers

President, Chief Executive Officer and Direct...
Total Annual Compensation: C$500.0K
Chief Financial Officer and Senior Vice Presi...
Total Annual Compensation: C$240.9K
Senior Vice President, General Counsel and Se...
Total Annual Compensation: C$294.1K
Vice President of Jordan Cove Lng
Total Annual Compensation: C$289.5K
Compensation as of Fiscal Year 2013.

veresen inc (VSN) Key Developments

Veresen Inc. Announces Dividend Guidance for the Year 2014 and 2015; Declares Common Share Dividend for December 2014, Payable on January 23, 2015

Veresen Inc. announced that the company is forecasting distributable cash in the range of $0.93 to $1.20 per common share for 2015. For 2014, the company maintains its previously announced distributable cash guidance of $1.05 to $1.17 per common share. The Board of Directors of the company has declared a cash dividend of $0.0833 per common share. The dividend will be paid on January 23, 2015 to shareholders of record at the close of business on December 31, 2014.

Veresen Declares Dividend for November 2014, Payable on December 23, 2014 ; Declares Quarterly Cash Dividend on Cumulative Redeemable Preferred Shares, Payable on December 31, 2014

Veresen Inc. announced that its Board of Directors has declared a cash dividend for November 2014 of $0.0833 per common share. The dividend will be paid on December 23, 2014 to shareholders of record at the close of business on November 28, 2014. The company's Board of Directors also declared the regular quarterly cash dividend of $0.275 per share and $0.3125 per share for the period ended December 31, 2014 on its Cumulative Redeemable Preferred Shares, Series A and Series C, respectively. These dividends will be paid on December 31, 2014 to shareholders of record at the close of business on December 15, 2014. These dividends are designated an "eligible dividend" for Canadian income tax purposes.

Veresen Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Distributable Cash Guidance for the Year 2014

Veresen Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported operating revenues of CAD 82.0 million compared to CAD 84.5 million a year ago. Net income before tax was CAD 8.1 million against CAD 37.7 million a year ago. Net income attributable to common shares was CAD 2.5 million or CAD 0.01 per basic and diluted share against CAD 27.9 million or CAD 0.14 per basic and diluted share a year ago. Net income was CAD 6.6 million against CAD 30.1 million a year ago. Cash from operating activities was CAD 50.4 million compared to CAD 44.0 million a year ago. Project development costs were CAD 28.5 million compared to CAD 8.1 million a year ago. Maintenance capital expenditures were CAD 0.9 million compared to CAD 1.2 million a year ago. Distributable cash was CAD 54.9 million or CAD 0.25 per common share compared to CAD 63.9 million or CAD 0.35 per common share a year ago. The decrease in distributable cash primarily reflects lower contributions from Aux Sable midstream business. For the nine months, the company reported operating revenues of CAD 263.3 million compared to CAD 245.9 million a year ago. Net income before tax was CAD 55.2 million against CAD 74.0 million a year ago. Net income attributable to common shares was CAD 31.4 million or CAD 0.15 per basic and diluted share against CAD 40.6 million or CAD 0.20 per basic and diluted share a year ago. Net income was CAD 31.4 million against CAD 40.6 million a year ago. Cash from operating activities was CAD 143.3 million compared to CAD 136.4 million a year ago. Project development costs were CAD 58.8 million compared to CAD 23.9 million a year ago. Maintenance capital expenditures were CAD 4.7 million compared to CAD 5.0 million a year ago. Distributable cash was CAD 184.2 million or CAD 0.86 per common share compared to CAD 173.1 million or CAD 0.87 per common share a year ago. The company has narrowed its guidance for 2014 distributable cash to be in the range of CAD 1.05 per common share to CAD 1.17 per common share, with the midpoint unchanged at CAD 1.11 per common share.

 

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Price/Earnings 42.6x
Price/Sales 9.1x
Price/Book 2.7x
Price/Cash Flow 22.9x
TEV/Sales 6.6x
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