Linn Energy LLC (LINE) News: Remains an Excellent Buy, Announces Dividend, SEC Inquiry & More

Editor’s Note: Related Tickers: Linn Energy LLC (NASDAQ:LINE), Berry Petroleum Company (NYSE:BRY), LinnCo LLC (NASDAQ:LNCO)

Linn Energy Remains An Excellent Buy For Courageous Investors (Seeking Alpha)
Linn Energy LLC (NASDAQ:LINE) has become an exciting company this year, especially in the last 2 months. LINE, one of the top 10 MLPs, is unlike many other MLPs which invest in pipelines and terminals to move energy around the US. LINE is an upstream company that invests in wells extracting oil and gas. The company has 19,000 wells with a goal to consolidate mature oil and natural gas assets. But LINE has grown largely through acquisitions. In 2003-2012, there were 58 acquisitions for almost $10 billion (including $2.9 billion in 2012).

Linn Energy LLC (NASDAQ:LINE)Linn Energy falls as it discloses SEC probe of Berry Petroleum deal (Denver Post)
Linn Energy LLC (NASDAQ:LINE), the oil and natural gas partnership that agreed to buy Berry Petroleum Company (NYSE:BRY) for $2.42 billion, fell the most in more than three years after disclosing a U.S. Securities and Exchange Commission inquiry into the deal and its accounting. Linn dropped 14 percent to $28.65 at 10:28 a.m. in New York, the biggest intraday decline since May 2010. LinnCo LLC (NASDAQ:LNCO), the affiliate whose stock will be used for the purchase, fell 10 percent to $33.29 and Berry Petroleum Company (NYSE:BRY) decreased 6.6 percent to $39.55. SEC staff notified Houston-based Linn Energy LLC (NASDAQ:LINE) and LinnCo of a “non-public inquiry,” the companies said in a statement after markets closed yesterday. Investigators want documents preserved that relate to the Berry deal as well as hedging strategies and certain financial measures, according to the statement.

Linn Energy, LLC Downgraded to Outperform at Raymond James (LINE) (Daily Political)
Linn Energy LLC (NASDAQ:LINE) was downgraded by Raymond James to an “outperform” rating in a research note issued on Tuesday, Stock Ratings reports. Shares of Linn Energy opened at 33.29 on Tuesday. Linn Energy, LLC has a 52 week low of $29.10 and a 52 week high of $42.57. The stock’s 50-day moving average is currently $33.76. The company’s market cap is $7.826 billion. Linn Energy LLC (NASDAQ:LINE) last announced its earnings results on Thursday, April 25th. The company reported $0.16 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.24 by $0.08. The company had revenue of $369.10 million for the quarter, compared to the consensus estimate of $583.51 million.

Linn Energy, LLC Plans Jul 13 Dividend of $0.24 (LINE) (The Utah People’s Post)
Linn Energy LLC (NASDAQ:LINE) announced a jul 13 dividend on Monday, July 1st, Analyst Ratings reports. Stockholders of record on Wednesday, July 10th will be paid a dividend of $0.2416 per share on Monday, July 15th. LINE has been the subject of a number of recent research reports. Analysts at Howard Weil upgraded shares of Linn Energy, LLC from a “sector perform” rating to a “sector outperform” rating in a research note to investors on Wednesday, June 19th. Finally, analysts at National Securities downgraded shares of Linn Energy LLC (NASDAQ:LINE) to a “neutral” rating in a research note to investors on Friday, May 31st.