Months after the deadly winter storm passed, companies are starting to detail some significant windfalls.
May 7th, 2021
Months after the deadly winter storm passed, some companies are starting to detail some significant windfalls. In mid-February, a brutal winter storm swept across Texas and overwhelmed the state’s power grid, knocking out electricity and water to millions for days.
A sudden jump in energy prices hammered utilities, and some customers faced power bills in the thousands of dollars. More than 100 people reportedly died.
The public vented its anger primarily at executives and lawmakers and amid that kind of public outcry, it’s easy to see why some companies who may have benefited from the crisis were happy to keep that information under wraps. Some 12 weeks later, however, the details are beginning to seep out.
AbbVie (NYSE:ABBV). The big drug stock offers income, value, and growth.
AbbVie s dividend yield currently stands at close to 4.5%. The company has increased its dividend by a whopping 225% since its spin-off from
Abbott in 2013. It s also a Dividend Aristocrat with 49 consecutive annual dividend increases.
Many investors would also consider AbbVie a bargain. Its shares trade at a little over nine times expected earnings. That s well below the forward earnings multiple of 13.5 for the pharmaceutical companies in the S&P 500.
AbbVie should even deliver solid long-term growth. Granted, there will be a blip in 2023 when the company s top-selling drug Humira faces biosimilar rivals in the U.S. However, the company expects a quick rebound with strong revenue growth through the rest of the decade.
Texas’ largest corporate welfare program is leaving companies flush and school districts broke Posted By Justin Miller, The Texas Observer on Sat, May 15, 2021 at 4:32 PM click to enlarge Wikimedia Commons / roy.luck Port Arthur ISD was required to pay $30 million refunds to San Antonio-based Valero after the energy company waged a court battle over properties, including this Port Arthur refinery. As the United States struggled to meet demands for fuel in the early 2000s, Motiva Enterprises decided to double the capacity of its oil refinery in the Gulf Coast city of Port Arthur on the Texas-Louisiana border. The refinery had been in Port Arthur for as long as Texas has pumped oil; in 1902, a year after the historic Spindletop discov
Colonial Pipeline Deliveries Resume in Most Markets Colonial Pipeline has made substantial progress in safely restarting our pipeline system, the company said. Oil prices fell in response.
Author:
May 13, 2021 10:15 AM EDT
Crude-oil prices fell Thursday as Colonial Pipeline said product delivery has resumed in most of its markets, after a hack of its data system last week led led it to close the pipeline.
“Colonial Pipeline has made substantial progress in safely restarting our pipeline system and can report that product delivery has commenced in a majority of the markets we service,” the company said Thursday on its website.