Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. 

Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

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Thematic (Sector/Industry)

China Oil, gas and consumable fuels / Thematic (Sector/Industry)

<p>We think the National Development and Reform Commission’s, or NDRC’s, decision to unify residential and nonresidential city-gate prices will have limited earnings impact on city gas operators, as we believe these distributors will be able to pass through the city-gate price hikes to their customers. We maintain our fair value estimates for <a href="https://www.smartkarma.com/entities/14315" target="_blank" data-smartkarma-citation="entities:14315:1">China Gas Holdings Ltd (384 HK)</a>, <a href="https://www.smartkarma.com/entities/20525" target="_blank" data-smartkarma-citation="entities:20525:1">China Resources Gas Group Ltd (1193 HK)</a>, and <a href="https://www.smartkarma.com/entities/316" target="_blank" data-smartkarma-citation="entities:316:1">ENN Energy Holdings Ltd (2688 HK)</a>. Our narrow moat ratings on all three…</p>

We think the National Development and Reform Commission’s, or NDRC’s, decision to unify residential and nonresidential city-gate prices will have limited earnings impact on city gas operators, as we believe these distributors will be able to pass through the city-gate price hikes to their customers. We maintain our fair value estimates for China Gas Holdings Ltd (384 HK), China Resources Gas Group Ltd (1193 HK), and ENN Energy Holdings Ltd (2688 HK). Our narrow moat ratings on all three…

Unification of City-Gate Prices Has Muted Impact on City Gas Operators; Positive for PetroChina