For Investors Only

Several companies of interest traded at new highs: MDU, SRE, XLNX, WEN, OKE, PSXP.

Natural gas closed up almost 10%.

Oil continues to melt up: WTI/NYMEX closes just short of $104, and not much news to explain.

Earnings After The Close

STR:

Questar Corporation reported net income of $161.2 million for 2013, or $0.92 per diluted share. This included a noncash impairment charge for the eastern segment of Southern Trails Pipeline of $52.4 million after-tax, or $0.29 per diluted share. Excluding the impairment charge, 2013 adjusted earnings were $213.6 million, or $1.21 per diluted share, compared to 2012 net income of $212.0 million, or $1.19 per diluted share.  Excluding the impairment charge, Questars 2013 adjusted ROE was 18.7%.

WMB:

2013 unaudited net income attributable to Williams of $430 million, or $0.62 per share on a diluted basis, compared with net income of $859 million, or $1.37 per share on a diluted basis for 2012.

The decline in net income for 2013 was primarily due to lower natural gas liquids (NGL) margins at Williams Partners, as well as the absence of $207 million of income in first-quarter 2012 associated with the sale of certain of the company’s former Venezuela operations, of which $144 million was recorded within discontinued operations. Full-year results were also impacted by over six months of lost production at the Williams Partners’ Geismar olefins plant and $99 million of tax expense on undistributed foreign earnings related to the planned dropdown of our Canadian operations to Williams Partners, which is expected to close by the end of February 2014.

For fourth-quarter 2013, Williams reported a net loss of $14 million, or $.02 per share on a diluted basis, compared with net income of $149 million, or $0.23 per share, for fourth-quarter 2012.

The decrease in fourth-quarter 2013 net income was primarily due to Williams Partners’ Geismar olefins plant being out of service for the entire fourth quarter and a decrease in NGL margins. The fourth quarter was also impacted by the previously mentioned $99 million of tax expense related to the planned Canadian dropdown. These declines were offset by an increase in fee-based revenues at Williams Partners and increased equity earnings from Access Midstream Partners.

TSLA:

Shares of Tesla Motors soared to record levels after-hours Wednesday as the electric auto maker reported much stronger than expected profits and forecast it will sell 55% more vehicles this year than it did last year.

Canadian Natl Rail targets C$2.1 billion in 2014 capital investments to raise network safety and efficiency, improve service and grow the business: Co announced today a 2014 plan to invest approximately C$2.1 billion to continue to raise network safety and efficiency, improve service and grow the business. Compare with BNSF CAPEX for 2014, previously reported.