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During otherwise cloudy macroeconomic conditions, investors may want to consider allocating a portion of their portfolio to alternative assets. Typically, alternative investments can include commodities such as gold, physical assets like real estate, or even artwork. For this reason, Bitcoin's price fluctuates frequently.
Today's conference call may include forward-looking statements, including statements regarding Lennar's business, financial condition, results of operations, cash flows, strategies and prospects. Secondly, and simultaneously, we continue to migrate our operating platform to an asset like configuration.
Over the last year or two, some of the major catalysts driving the market higher have included the prospect of lower inflation, lower interest rates, and accelerated growth in the tech sector. ExxonMobil's dividend is a core part of its investment thesis ExxonMobil is the most valuable U.S.-based based energy company for good reason.
And it reflects our confidence in the increasing capital efficiency of our business going forward. And we continue to improve our capital efficiency by leveraging technology and innovation across both our foundational and emerging assets. Really strong choice capital allocation. Now, here's Ezra to wrap up.
Kinder Morgan continues to deliver Over the last few years, Kinder Morgan has posted solid results and made multiple small- to medium-sized acquisitions in legacy oil and gas infrastructure assets, liquefied natural gas (LNG), and renewable natural gas (RNG). yield, another factor driving Kinder Morgan is its future earnings prospects.
Companies like Enterprise Products Partners and Enbridge own the infrastructure, like pipelines and energy storage assets, that help to move oil and natural gas from where it is produced to where it eventually gets consumed. For the most part, this is a toll-taker business, with fees charged for the use of the infrastructure involved.
That's because this midstream master limited partnership (MLP) acts as a toll taker, collecting fees for the use of its midstream infrastructure assets. That's going to make up most of an investor's total return, with only modest growth prospects ahead. But the real attraction here is the distribution yield, which is a hefty 7.5%.
These are giant assets that are very different from most other property types, as they generally include gambling facilities, hotels, convention space, restaurants, and retail all in the same structure. However, there is a big difference between the casino operators to which Vici Properties leases assets and Vici Properties.
It all has to do with the investment cycle, which is dependent on crop prices, interest rates, and other factors. Basically, if business is good for Deere's customers, there's a better chance they'll make a big capitalinvestment. But if business is down, they may delay that big purchase. million tons of copper in 2032.
Airlines aren't productive (at least for shareholders) The ultimate test of whether a company is allocating capital productively for shareholders is the comparison between its return on invested capita l (ROIC) and its weighted average cost of capital (WACC).
Importantly, Citadel still had twice as much capitalinvested in Nvidia as Palantir as of June 30, so it would be wrong to assume Griffin lacks confidence in the chipmaker. Palantir has reoriented its go-to-market strategy around AIP bootcamps, workshops where prospective clients learn to use the platform in days.
Evaluating a company's growth prospects is vital. The company believes it can leverage its midstream expertise and existing asset footprint to build a large-scale carbon dioxide transportation business: Image source: EnLink Midstream. That's because profit growth typically drives a stock's returns over the long term.
Throughout this process, we have been strengthening the balance sheet and prudently allocating capital to prioritize returns. In the Permian, we continue to strategically refine our position with the acquisition of Cowen and the sale of noncore assets. In Suriname, we reached a final investment decision for our first oil development.
Today's conference call may include forward-looking statements, including statements regarding Lennar's business, financial condition, results of operations, cash flows, strategies, and prospects. Accordingly, we have worked with a series of private equity partners to create homogeneous risk-profile land assets.
It also operates midstream assets like pipelines to transport its oil and gas to higher-valued markets. Its downstream assets buy hydrocarbons to transform them into higher-valued products like gasoline and petrochemicals, which tend to see higher demand when prices are lower. million BOE/d this year).
Looking ahead, we're pleased to report that we've continued to advance the growth of our fleet, concluding an investment commitment for the pine forests solar and storage project, and having received an offer which is now under evaluation to invest in phase 1 of the Honeycomb storage projects.
It also has material expectations for growth, with a five-year capitalinvestment plan worth around $4.3 It's also slowly shifting toward lower-carbon energy, which will enhance its long-term sustainability and growth prospects (including its ability to increase its dividend). population growth. dividend yield.
billion of divestitures, effectively transforming our asset base into an unconventional pure play Permian operation. And third, it rationalized our portfolio by eliminating assets that did not compete for capital and significantly reduces per unit LOE. This activity has three primary benefits. billion to $2.3
First, we have completed a joint development agreement with Clearway Group that optimizes our Utah Solar assets with the potential to invest up to $85 million in 2026 at a 10% cap yield. Finally, as Craig will go into more detail on a couple of slides, CWEN's visibility to grow beyond 2026 continues to improve in several facets.
Keith Yonkers 41 North Return to steady growth and margin improvement after the volatility experienced in 2022-2023, Comparatively small portion of available assets being of high quality. Prospective buyers have cash and ample liquidity. Brian Egwele Egwele & Company Interest rates, available capital, consolidation.
On my last point before I hand it over to Keelan, I would like to spend some time on asset quality. We have gradually but continuously optimized our portfolio of assets since 2014 resulting in a fleet that is technologically differentiated from that of our peers. In summary, the outlook for our assets and services remains strong.
We have a five-year capital plan that addresses replacing key aged and fully depreciated assets in our manufacturing facilities. It is imperative that our pricing enables Oil-Dri to generate adequate cash to fund the asset infrastructure that's required to sustain our future ability to serve our customers and grow our business.
Upstream capitalinvestment of $520 million was slightly above guidance, as we spent $27 million on the initial phase of our winter exploration program in Alaska. We continue to diligently manage overhead and operating costs, and we are reducing our total capitalinvestment to less than $2 billion. per share.
NextEra Energy offers a unique value proposition with two strong businesses that we believe are strategically positioned with outstanding prospects for future growth. We believe Energy Resources has the most comprehensive renewable energy business in the world and is better positioned than ever to capitalize on long-term growth prospects.
Our most valuable asset that has allowed Hecla to grow and thrive is our people. Second is the quality of our assets, the solid foundation of long reserve lives, low-cost silver operations with great geologic potential in the best mining jurisdictions. With that, I'll pass the call back to Cassie.
We are in a period of time where unlevered returns on most of the assets we invest in are between 8% and 12% on an unlevered basis. This period of time from an investment perspective is some of the best environments we have seen in years. In Q4 of '22, Rithm launched its private capital business. The time is now.
During the first quarter, upstream capitalinvestment of $568 million was below guidance due primarily to the deferral of some planned facility leasehold and exploration spend. As a reminder, this type of downtime tends to occur more frequently and is less predictable when managing late-life assets like those we have in the North Sea.
Some of the information we provide during today's call regarding our future expectations, plans and prospects may constitute forward-looking statements. On the capital markets front, we made significant progress toward the advancement of our bitcoin strategy. Before we proceed, I will read the safe harbor statement.
With supportive markets and more optimistic sentiment from clients, we're confident in our ability to both grow assets on behalf of clients and drive profitable growth for our shareholders. With long-term investing, time in the markets is often more important than market timing. Clients choose BlackRock for performance.
The scale and quality of the assets we have built are second to none. We believe that our assets position us to grow faster than the market as growth expands beyond the premium customer segment. Our business strategy is predicated on investing in high-quality assets that also has scale. There's barriers to entry.
Our future growth in Macao is tethered these powerful assets which have all the variables necessary to drive growth in years ahead. Whether it's rooms, gaming capacity, retail, entertainment, food and beverage, we have stellar assets. LVS has invested $15 billion in Macao, which is the most important land-based market in the world.
million shares of Cerro Verde in at-market transactions on the Peruvian Stock Exchange at a cost of $210 million, and that allowed us to increase our ownership in this highly attractive asset from the prior level of 53.6% All of these projects are brownfield opportunities where we're leveraging existing assets and established operations.
These financial expectations also enable us to reaffirm our ability to achieve the upper range of our 5% to 8% DPS growth target through '26 without a need to raise external capital to meet those goals. We have also executed on a series of actions that enhanced visibility into prospects for growth above $2.15 by year-end. CAFD yield.
Today's conference call may contain forward-looking statements, including statements regarding Lennar's business, financial condition, results of operations, cash flows, strategies, and prospects. That strategy has been to refine a manufacturing production model that is pure-play homebuilding and land light, asset light.
We're excited to be partnering with Stonepeak, one of the world's largest energy infrastructure investors with over $61 billion in assets under management. Stonepeak has a track record of investment in large and complex energy infrastructure projects, including offshore wind. Second, we continue to expect approximately $0.50
Our business strategy is predicated or investing in high-quality assets and also have scale. We have designed our capitalinvestment programs to ensure that we will continue to be the market leader in the years ahead. As we complete the balance of our investment programs, there will be considerable runway for growth.
Average loans declined throughout the year as credit card -- as growth in credit card balances was offset by declines in most other asset classes, reflecting weak loan demand as well as credit tightening actions. The decline from the third quarter was also driven by seasonally lower trading activity across most asset classes.
All a stock price tells you is what other investors or prospective investors or soon to be former investors are willing to transact at the moment. That is the cash that is left over after the company has paid all of its bill, made all of its capitalinvestments, made all of its investments and working capital.
We remain confident that this strategic realignment will not impact our near or medium-term growth prospects. Short-term impacts include employee termination costs, lease termination costs, asset liquidation, and impairments. We will continue to exercise discipline in allocating capital toward marketing and upcountry expansion.
As John Driscoll detailed last quarter, we are leveraging our local presence to engage with patients across our thousands of stores and through our assets across the care continuum on behalf of payers, providers, and pharma to help them achieve their objectives at scale. Our specialty pharmacy assets will be an important focus going forward.
Traffic growth shows that we're winning with our guests, and we're making the long-term investments that have delivered strong performance over decades. This includes capitalinvestments in our existing stores in full remodels, smaller refreshes, and layout changes to increase the efficiency of our same-day services.
Customers are excited about this, and as more companies find they're employing a mix of custom-built models along with leveraging existing LLMs, the prospect of these two linchpins services in SageMaker and Bedrock working well together is quite appealing. In 2023, overall capitalinvestments were $48.4
I will note when we look at reserves and resources that Stillwater is a strategic asset, both for ourselves as a company and for the U.S., Those are some of the key assets within the company. Maintaining a profitable business and optimizing capital allocation. They're still loss-making at the moment. billion last year.
Today's conference call may include forward-looking statements, including statements regarding Lennar's business, financial condition, results of operations, cash flow strategies, and prospects. That is total shareholder returns, returns on assets, and returns on equity. billion revolving credit facility. years from 1.9
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