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Top related persons:
NextDecade - 1 TotalEnergies - 1 TD Cowen - 1 Sean Morgan - 1 Arshreet Singh - 1 Shweta Agarwal - 1
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Rio Grande LNG United States
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NextDecade - 1 NextDecade Corp - 1 Evercore - 1 Thomson - 1

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☆ NextDecade shares fall 23% as LNG project funding disappoints investors
  + stars: | 2023-07-13 | by ( ) www.reuters.com   time to read: +1 min
Companies NextDecade Corp FollowJuly 13 (Reuters) - NextDecade Corp shares (NEXT.O) fell 23% on Thursday on investor worries over the terms of $18.4 billion financing the U.S. liquefied natural gas developer obtained to go ahead with the long-delayed Phase 1 of Rio Grande LNG export facility. NextDecade said its financial partners and TotalEnergies combined will hold stake that could fetch them at least 79.2% of the cash flow generated from Phase 1 of the project. It also said the lump-sum turnkey engineering, procurement and construction contracts of $12 billion were lower than its forecast of $12.5 billion. "Investors are looking at the huge portion of cash flow that the new project level investors get relative to the equity holders and don't love that," said Sean Morgan, an analyst at Evercore. NextDecade is expected to produce 27 million tonnes of LNG a year from the facility.
Persons: NextDecade, TotalEnergies, TD Cowen, Sean Morgan, Arshreet Singh, Shweta Agarwal Organizations: NextDecade, NextDecade Corp, Evercore, Thomson Locations: Rio Grande LNG, United States
☆ Evercore ISI downgrades First Solar, says stock's biggest tailwinds may already be fully priced in
  + stars: | 2023-02-14 | by ( Alex Harring | ) www.cnbc.com   time to read: +1 min
The near-term outlook for First Solar isn't looking too bright, Evercore ISI warned. Analyst Sean Morgan downgraded the solar stock to in line from outperform as he now sees recent tailwinds better reflected in the current price. He raised its price target by $7 to $157, but that new target still implies the stock could drop 6.1% from where it closed Monday. Morgan said First Solar has been a "major beneficiary" from the Inflation Reduction Act , outperforming the residential solar market since July 2022. FSLR 1Y mountain FSLR in past year More broadly, the solar residential market has lagged in the fourth quarter and into 2023 despite the tailwinds expected from the IRA, he said.
☆ Analysis: The hardest part is yet to come for gas-hoarding Europe
  + stars: | 2022-12-19 | by ( Susanna Twidale Marwa Rashad Emily Chow | Susanna Twidale | Marwa Rashad | ) www.reuters.com   time to read: +7 min
A large dent has also come from industrial sectors forced to curb output as high gas prices make production uneconomic with some firms shifting production to regions with cheaper energy. FIGHT FOR SUPPLIESThe obvious way to boost supplies is through liquefied natural gas (LNG). That may not happen next year, meaning Europe would face fierce competition for LNG that would drive up the cost. Record high prices in Europe, however painful, helped the region to secure record volumes of LNG imports this year. Benchmark European gas prices hit a peak in August of more than 300 euros/MWh.
☆ Shares of First Solar have nearly doubled in 3 months, but Evercore ISI says there's more upside
  + stars: | 2022-09-29 | by ( Pippa Stevens | ) www.cnbc.com   time to read: +2 min
U.S. panel manufacturer First Solar is uniquely positioned to benefit from the recently passed Inflation Reduction Act, Evercore ISI said as it upgraded the stock to an outperform rating. Shares of First Solar have gained nearly 80% since July 27 when Senate Majority Leader Chuck Schumer, D-N.Y., and Sen. Joe Manchin, D-W.V, said they reached an agreement on a climate package. The firm added that given First Solar's domestic footprint the company could benefit from trade restrictions on Chinese solar modules. Evercore is not the only Wall Street firm to note the benefits for First Solar from the IRA. Shares of First Solar dipped more than 2% Thursday.
☆ Cheniere CFO Aims for Investment-Grade Credit Rating as Natural-Gas Prices Soar
  + stars: | 2022-09-15 | by ( Kristin Broughton | ) www.wsj.com   time to read: +6 min
Cheniere Energy Inc.’s finance chief is working toward landing an investment-grade credit rating in the coming year, as the largest U.S. exporter of liquefied natural gas pays down debt and benefits from the run-up in energy prices. Photo: Cheniere Energy Inc. The company expects to reach investment grade next year based on its current rating and financial position, Mr. Davis said. An investment-grade rating would provide confidence to long-term investors and customers that the company can survive volatility in commodity markets, Mr. Davis said. Higher natural gas prices have been a boon to Cheniere’s finances, prompting it to accelerate plans to pay down debt.
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