Williams Cos., the fourth-largest U.S. pipeline operator, rose the most in more than five years after promising a 32 percent dividend increase after it buys control of Access Midstream Partners LP for $6 billion, creating among the biggest natural-gas transporters.
Questar Corp., the Salt Lake City- based utility owner, surged as much as 15 percent after saying yesterday it may spin off an oil- and natural-gas production business that accounted for more than 34 percent of net income last year.
Oneok Inc., the Oklahoma-based operator of natural gas pipelines, said it will spin off its utility business, sending shares up the most in more than four years to lead the Standard & Poor’s 500 Index today.
Enbridge Inc.’s plan for a pipeline to carry oil-sands crude from Canada to the Texas Coast may gain a competitive advantage from the U.S. State Department’s demand for further study of TransCanada Corp.’s rival Keystone XL line.
TransCanada Corp., the Canadian company that proposed to build the $7.6 billion Keystone XL oil pipeline, said second-quarter profit declined 22 percent as it transported less natural gas and power asset earnings fell.