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Pembina upgraded on Provident deal

Pembina Pipeline Corp. was upgraded to buy from hold at Canaccord Genuity after it announced an agreement to buy Provident Energy Ltd.

The deal will add a natural gas liquids (NGL) fractionation business to Pembina’s suite of services and helps diversify its operations, analyst Juan Plessis told clients. 98 more words

Trading Desk

Pembina Pipeline's bid prompts payout

Pembina Pipeline Corp.’s plan to purchase Provident Energy Ltd. for $3.2-billion got the cold shoulder from its yield-hungry investors Monday.

However, far from putting the company’s rock-solid dividend in jeopardy, the deal helps usher in Pembina’s first payout increase to shareholders in more than three years and paves the way for more increases down the road. 599 more words

Investing

TSX advances as gold gains

Canadian stocks rose, led by raw materials producers, as gold gained after Standard & Poor’s cut the credit ratings of nine euro-region countries.

Kinross Gold Corp., Canada’s third-largest gold producer by market value, advanced 1.8 percent as the metal gained on demand for a haven. 554 more words

Marketscope

Energy infrastructure assets that may be of interest to U.S. buyers

Kinder Morgan Inc.’s US$21-billion takeover of El Paso Corp. is supportive of valuations in the Canadian pipeline sector, but the deal is unlikely to trigger a major move in share prices, according to Robert Kwan, analyst at RBC Capital Markets. 203 more words

Trading Desk