CMS Energy REPEATS $0.24 Dividend and 3 Hot Stocks Beginning the Week
Chesapeake (NYSE:CHK), having to make a choice between spending out millions of dollars on drilling oil wells or give up lease rights on the one million acres it leased for $2 billion in Ohio’s Utica Shale fields, is now trying to get the landowners to sign revised leases.
CMS Energy (NYSE:CMS) repeats a quarterly dividend of $0.24 a share, payable to shareholders on record as of August 3; the dividend, payable on Aug 31 represents a forward yield of 3.9 percent. Shares go ex-div on August 1.
Credit Suisse upgrades Anadarko Petroleum (NYSE:APC) to Outperform as it sees the shares trading at an unreasonable discount to intrinsic value because of the company’s joint ownership of the BP (NYSE:BP) Macondo well leak and due to litigation around Tronox – the firm believes there is scope for a reasonable settlement with Tronox; shares trade up a percent before the bell.
Coal companies Alpha Natural Resources (NYSE:ANR) and Arch Coal (NYSE:ACI) are lower in pre-market trading after their downgrade by BMO Capital to Underperform citing high debt, falling margins and weak demand for coal.