On Friday, Shares of J. C. Penney Company, Inc. (NYSE:JCP), gained 6.47% to $8.56, following a ratings upgrade to “market perform” from “underperform” at BMO Capital Markets.
The firm said it raised its rating on the department store retailer based on growing confidence that the company’s administration will be able to reach its 2017 EBITDA aim of $1.2 billion. BMO analysts also say they are less concerned about liquidity.
BMO Capital raised its price target on J.C. Penney to $8 from $7.
J. C. Penney Company, Inc., through its partner, J. C. Penney Corporation, Inc., sells merchandise through department stores in the United States. The company sells family apparel and footwear, accessories, fine and fashion jewelry, beauty products, and home furnishings, in addition to provides various services, counting styling salon, optical, portrait photography, and custom decorating.
Shares of Hecla Mining Co. (NYSE:HL), inclined 0.31% to $3.25, during its last trading session, as gold prices inched higher Friday, extending their successive winning sessions to four, setting a fresh three-month high, and sustaining momentum to post a second straight weekly enhance.
Gold for June delivery rose 10 cents to end the week at $1,225.30 an ounce on the Comex division of the New York Mercantile Exchange. The settlement price is the highest in three months, since Feb 13 when gold closed at $1,227.10 an ounce.
Hecla Mining Company, together with its auxiliaries, discovers, acquires, develops, produces, and markets precious and base metal deposits worldwide. The company offers unrefined gold and silver bullion bars to precious metals traders; and lead, zinc, and bulk concentrates to custom smelters and brokers.
At the end of Friday’s trade, Shares of Teekay Tankers Ltd. (NYSE:TNK), gained 7.57% to $6.54.
Teekay Tankers, stated adjusted net income attributable to its shareholders of $39.0 million, or $0.34 per share, for the quarter ended March 31, 2015, contrast to $16.9 million, or $0.20 per share, for the same period in the preceding year. The enhance is primarily due to stronger spot tanker rates in the first quarter of 2015 contrast to the same period in the preceding year, an enhance in fleet size due to the acquisition of four LR2 product tankers and one Aframax tanker in the first quarter of 2015 and the addition of 10 in-chartered vessels delivered during 2014. Adjusted net income attributable to shareholders excludes a number of specific items that had the net effect of increasing net income attributable to shareholders by $9.6 million, or $0.11 per share, for the three months ended March 31, 2014 as detailed in Appendix A to this release. Counting these items, the Company stated, on a GAAP basis, net income attributable to its shareholders of $39.0 million, or $0.34 per share, for the quarter ended March 31, 2015, contrast to $26.4 million, or $0.31 per share, for the quarter ended March 31, 2014.
Net revenues were $100.0 million and $60.3 million for the three months ended March 31, 2015 and 2014, respectively.
“The Company practiced the strongest quarter in six years with free cash flow of $53 million, or $0.46 per share, resulting in an annualized free cash flow yield of 32 percent based on the average share price during the first quarter,” commented Kevin Mackay, Chief Executive Officer of Teekay Tankers.
Teekay Tankers Ltd. is engaged in the marine transportation of crude oil and refined petroleum products through the operation of its oil and product tankers worldwide. As of December 31, 2014, it owned 27 double-hulled conventional oil tankers, time-chartered in 8 Aframax tankers, and 4 long range 2 product tankers from third parties; and owned a 50% interest in 1 very large crude carrier. The company was founded in 2007 and is headquartered in Hamilton, Bermuda.
Finally, NiSource Inc. (NYSE:NI), ended its last trade with 2.99% gain, and closed at $45.48, hitting its highest level.
NiSource, declared its intention for NiSource and Columbia Pipeline Group (CPG) to pay shareholders an initial combined quarterly common stock dividend of 28 cents per share following the formerly declared separation of the two companies. The anticipated combined dividend represents a 7.7 percent enhance over the current NiSource dividend.
The combined initial quarterly dividend per share is predictable to be comprised of 15.5 cents and 12.5 cents for NiSource and CPG, respectively. Following the companies’ separation, it is anticipated that NiSource will target a dividend growth rate of 4 to 6 percent annually and that CPG will target an average annual dividend growth rate of about 15 percent through 2020.
NiSource Inc., an energy holding company, provides natural gas, electricity, and other products and services in the United States. It operates through three segments: Gas Distribution Operations, Columbia Pipeline Group Operations, and Electric Operations. The Gas Distribution Operations segment offers natural gas service and transportation to residential, commercial, and industrial customers.
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