4 Energy Stock Stories To Fuel Investor Interest

TransCanada Corporation (NYSE:TRP): Current price $47.73

On Thursday, the National Energy Board of Canada consented to place fixed tolls on TransCanada’s mainline, which is a cross-country natural gas pipeline network that faces growing competition from American shale gas supplies, which the regulator says will help keep the system profitable. The Board okayed new rates that will allow the cost of moving gas from Empress, Alberta, to Dawn, Ontario, to fall to C$1.42 per gigajoule from C$2.58 per gigajoule under the current tolling structure.

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TRP

Phillips 66 (NYSE: PSX): Current price $70.35

The firm’s wholly owned subsidiary Phillips 66 Partners, has filed a registration statement on Form S-1 with the Securities and Exchange Commission, related to its proposed initial public offering of common units representing limited partner interests. The offering should occur in the second half. Phillips 66 Partners expects the common units to trade on the New York Stock Exchange under the ticker symbol PSXP. The number of units to be offered and the price range have yet to be determined. Phillips 66 Partners expects to receive gross proceeds from the offering at around $300 million, excluding proceeds from any exercise of the underwriters over-allotment option to purchase additional common units.

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PSX

Cliffs Natural Resources (NYSE:CLF): Current price $18.99

Shares fell over 15 percent to a four-year low on Wednesday while analysts say that the selloff is far from done. The iron-ore miner’s stock has dropped 51 percent since January, making it the worst-performing stock in the S&P 500 so far in 2013, and had its price target slashed by both Morgan Stanley and Credit Suisse on Wednesday. Meanwhile, Credit Suisse pointed to ongoing restructuring in the firm’s Great Lakes market that it says will weigh on its pricing power and potentially further erode earnings in its decision to sharply cut its target from $30 to $10. Analysts at the investment bank currently have the shares at Underperform.

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CLF

Suncor Energy (NYSE:SU): Current price $30.03

Suncor said Wednesday that it will not go forward with the Voyageur upgrader project. The decision comes from a joint strategic and economic review conducted by Suncor and its joint venture partner Total E&P Canada in late 2012. President and Executive Steve Williams remarked that “Since 2010, market conditions have changed significantly, challenging the economics of the Voyageur upgrader project. That’s why we undertook a thorough review of the project to determine whether it met our criteria for long-term, profitable growth.”

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SU

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