NEW YORK, January 8, 2015 /PRNewswire/ --
Moments ago, Analysts Review released new research updates concerning several important developing situations including Memorial Production Partners (NASDAQ: MEMP), Memorial Resource Development (NASDAQ: MRD), MGE Energy (NASDAQ: MGEE), Mid-Con Energy Partners (NASDAQ: MCEP), and Ocean Rig UDW (NASDAQ: ORIG). Analysts Review provides a single unified platform for investors' to hear about what matters - proudly employing registered CFA® research staff and rigorous compliance procedures. The full research reports are being made available to the public for informational purposes only.
To access our full PDF reports on a complementary basis, please visit the links below.
Today's update concerns the following companies:
Full PDF Download Links (you may have to copy and paste the following links into your browser):
MEMP Research Report: ( http://get.analystsreview.com/pdf/?c=Memorial%20Production%20Partners&d=8-Jan-2015&s=MEMP ),
MRDResearch Report: ( http://get.analystsreview.com/pdf/?c=Memorial%20Resource%20Development&d=8-Jan-2015&s=MRD ),
MGEEResearch Report: ( http://get.analystsreview.com/pdf/?c=MGE%20Energy&d=8-Jan-2015&s=MGEE ),
MCEP Research Report: ( http://get.analystsreview.com/pdf/?c=Mid-Con%20Energy%20Partners&d=8-Jan-2015&s=MCEP ),
ORIG Research Report: ( http://get.analystsreview.com/pdf/?c=Ocean%20Rig%20UDW&d=8-Jan-2015&s=ORIG ).
Analyst Update: Share Repurchases, Financial Results, Strategic Acquisitions, and Meeting Results
Reviewed by: Rohit Tuli, CFA®
The Wall Street finally witnessed a rebound on Wednesday, January 7, as slight recovery in the oil prices coupled with latest data on the U.S. economy boosted sentiments in equities. The latest FOMC meeting minutes, which signaled that the U.S. central bank may refrain from raising interest rates until at least end of April, also helped U.S. stocks rally the most in three weeks on Wednesday. Snapping the five-day long losing streak, the S&P 500 index marked its first gain in 2015 and ended the session higher by 1.16% at 2,025.90. Similarly, the Dow Jones Industrial Average rose 1.23% to finish at 17,584.52, and the NASDAQ Composite ended higher by 1.26% at 4,650.47. A recent report on the health of the U.S. economy said that companies in the U.S. added 241,000 workers in December, the highest since June. European markets also had a sigh of relief on Wednesday after a drop in euro area consumer prices in December lifted hopes that ECB will launch further stimulus soon. Most Asian markets also ended higher on Wednesday tracking strong global cues.
Memorial Production Partners LP (Memorial Production Partners) announced that the board of directors of its general partner authorized the repurchase of up to $150 million of the Company's common units, effective immediately.
The Board of Directors of Memorial Resource Development Corp. (Memorial Resource Development) authorized the repurchase of up to $50 million of the Company's common stock, in a move to deliver long-term value to its shareholders.
MGE Energy, Inc. (MGE Energy) reported Q3 2014 earnings of $23.3 million, or 67 cents per share, compared to $24.4 million, or 70 cents per share, in Q3 2013. The Company's Q3 2014 electric retail sales reduced by 4.4% YoY due to cooler-than-normal weather, partially offset by MGE Energy's ongoing effort to manage costs.
Mid-Con Energy Partners, LP (Mid-Con Energy) announced the completion of its previously announced acquisition in the Eastern Shelf of the Permian Basin for nearly $120 million. The Company anticipates the acquisition to be immediately accretive to Distributable Cash Flow per unit.
At the 2014 Annual General Meeting of Shareholders of Ocean Rig UDW Inc. (Ocean Rig UDW), the proposal for the election of George Economou as a Class A Director of the Company to serve until the 2017 Annual General Meeting of Shareholders, was approved.
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Editor Note: This is not company news. We are an independent source and our views do not reflect the companies mentioned.
Compliance Procedure: Content is researched, written and reviewed on a best-effort basis. This document, article or report is prepared and authored by Analysts Review, represented by Rohit Tuli, CFA®. An outsourced research services provider has only reviewed the information provided by Analysts Review in this article or report according to the procedures outlined by Analysts Review. Analysts Review is not entitled to veto or interfere in the application of such procedures by the outsourced provider to the articles, documents or reports, as the case may be.
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