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Enron stock chart Continue Home - Yahoo! - Help[ Stock Screener | Companies & Funds Index | Financial Glossary ] More Information: Quote | Graphic | News | Profile | Search | SEC | Msgs | Insider | Options | Finance | ReportsBusiness SummaryEnron Corp. provides products and services related to natural gas, electricity and communications to wholesale customers and retailers. Enron's operations are conducted through its subsidiaries and affiliates, which are primarily involved in: the transportation of natural gas through pipelines to markets throughout the United States; the generation, transmission and distribution of electricity to markets in the northwest United States; the marketing of natural gas, electricity and other commodities and related risk management and finance services around the world; the development, construction and operation of power plants, pipelines and other energy-related assets worldwide; the delivery and management of energy commodities and capabilities for end-use retail customers in the industrial and commercial business sectors; and the development of an intelligent network platform to provide bandwidth management services and the delivery of high-bandwidth communication applications. More from the Market Guide: Company's expanded financial summary SummaryENE provides physical commodities and financial and risk management services; develops and operates energy installations; produces electricity and natural gas; and offers broadband services. In the six months ended June 1, revenues rose from $30.03 billion to $100.19 billion. Earnings applicable to Common before the changes in the board went up 31% to $769 million. The results reflect the origination of long-term energy contracts, partially offset by employee-related costs and other operating expenses. More from the Market Guide: Significant DevelopmentsOfficers[Insider Trade Data]FY2000 CompensationPayExerKenneth Lay, 58Chairman, CEO$12.0M$123MGreg Whalley, 39Pres, COO-- -- Mark Frevert, 46Vice Chairman-- -- Andrew Fastow, 39CFO, Exec. VP-- -- Mark Frevert, 46Chairman and CEO, Enron Wholesale Services7.1M29MDollar the values are 31-Dec-2000 and the clearing amounts are for the fiscal year ending on that date; Salary is salary, bonuses, etc.; Exercise is the value of the options exceeded during the fiscal year. More from Market Guide on Officers & Directors:Expanded List, Bios, Compensation, Options Statistics at a Glance -- NYSE:ENEAs of 31-Aug-2001Price and Volume52-Week Lowon 31-Aug-2001$34.58 Recent Price$34.99 52-Week Highon 18-Sep-2000$90.375Beta0.77 Daily Volume (3-month avg)4.68MDaily Volume (10-day avg)5.01MStock Performancebig chart [1d | 5d | 3m | 6m | 1y | 2y | 5y | max]52-Week Change-59.0%52-Week Changerelative to S&P500-45.0%Share-Related ItemsMarket Outstanding749.9MFloat656.9MDividends & SplitsAnnual Dividend (indicated)$0.50 Dividend Yield1.43%Last Split: 2 for 1 1 16-Aug-1999 DataBook Value Per Share (mrq)$14.17 Earnings (ttm)$1.31 Profits (mrq)$0.45 Sales (ttm)$200.94 Cash (mrq)$1.13 Valuation RatiosPrice/Book (mrq)2.47 Price/Profit (ttm)26.79 Price/Sales (ttm)0.17 Income StatementsSales (ttm)$170.9BEBITDA (ttm)$3.42BIncome available for common (ttm)$1.08BProfitabilityProfit Margin (ttm)0.7%Operating Margin (ttm)1 5% Fiscal YearFiscal Year Ends 31December 31st most recent quarter30-June-June-2001 Management effectiveness Return on assets (ttm)1.97%Return on Equity (ttm)10.50% Current Financial Force Ratio (mrq)1.08 Debt/Equity (mrq) 1.08 Debt/Equity (mrq)1.09 Total Cash (mrq)$847.0MShort InterestAs of 8-Aug-2001Shares Short13.4MPercent of Float2.0%Shares Short (Previous Month)13.3MShort Ratio4.10 Daily Volume3.28MSee Profile Help for a description of each item above; K = thousands; M = millions; B = billions; mrq = most recent quarter; ttm = losing twelve months; (from June 30, 2001) The Market Guide offers more company research, stock and stock screening and hottest industries in more than 10,000 U.S. stocks. Copyright © 2001 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of ServicesCompany Copyright Marketing information. Historical chart data and daily updates provided by Commodity Systems, Inc. (CSI). The data and information are provided for informational purposes only, and are not intended for trading purposes. Neither Yahoo nor any of its data or content providers (such as Market Guide, CSI, etc.) will be liable for any errors or delays in the content, or for any actions taken in lieu thereof. Bankruptcy energy company and financial scandal Enron CorporationExter typePublicTraded asNYSE: ENEIndustryEnergyFateBankruptcyPredecessorNorthern Natural Gas CompanyHouston Natural GasSuccessorDynegyPrisma Energy InternationalFoundedOmaha, Nebraska, USA (1985 (1985))FounderKenneth LayDefunctDecember 2001 (2001-12)Headquarters1400 Smith StreetHouston, Texas, United States Key People Kenneth Lay, founder, president and CEO Jeffrey Skilling, former president, and COO Andrew Fastow, former CFO Rebecca Mark-Jusbasche, former vice president, president and CEO of Enron International Stephen F. Cooper, interim CEO and CRO DivisionsEnron Energy ServicesWebsiteenron.com The Enron scandal was an accounting scandal of Enron Corporation, an American energy company based in Houston, Texas. It was released in October 2001, and led to the bankruptcy of the company, and the de facto dissolution of Arthur Andersen, which was one of the five largest audit and accounting partnerships in the world. In addition to being the largest bankruptcy reorganization in U.S. history at the time, Enron was cited as the largest audit failure. [1]:61 Enron was formed in by Kenneth Lay after merging Houston Natural Gas and InterNorth. Several years later, when Jeffrey Skilling was hired, he developed a team of who – by the use of accounting loopholes, special purpose entities and bad financial reports – were able to hide billions of dollars in business debts and failed projects. Chief Financial Officer Andrew Fastow and other executives mislead Enron's board of directors and audit committee about high-risk accounting practices and pressured Arthur Andersen to ignore the issues. Enron shareholders filed a $40 billion lawsuit after the company's share price, which reached a high of $90.75 per share in mid-2000, fell to less than $1 at the end of November 2001. [2] The U.S. Securities and Exchange Commission (SEC) launched an investigation, and Houston's rival Dynegy offered to buy the company at a very low price. The agreement failed, and on December 2, 2001, Enron filed for bankruptcy under Chapter 11 of the United States Bankruptcy Code. Enron's $63.4 billion in assets made it the largest corporate bankruptcy in U.S. history until the WorldCom scandal the following year. Many Enron executives were indicted on a variety of charges and some were later sentenced to prison. Arthur Andersen was found guilty of illegally destroying documents relevant to the SEC investigation, which annulled his license to audit public companies and effectively shut down the company. By the time the decision was overturned in the U.S. Supreme Court, Arthur Andersen had lost most of his clients and had ceased to operate. Enron employees and shareholders received limited returns in lawsuits despite losing billions in pensions and stock prices. As a result of the scandal, new regulations and legislation were enacted to increase the accuracy of financial reporting for public companies. [4] Part of the legislation, the Sarbanes-Oxley Act, increased penalties for destroying, altering or fabricating records in federal investigations or for attempting to defraud shareholders. [5] The law also increased the accountability of audit firms to remain impartial and independent of their clients. [4] Enron Kenneth Lay's rise in a July 2004 photo in 1985, Kenneth Lay merged the natural gas pipeline companies of Houston Natural Gas and InterNorth to form Enron. [6]:3 In the early 1990s, he helped start selling electricity at market prices, and soon after, Congress passed legislation that deregulates the sale of natural gas. The resulting markets allowed traders like Enron to sell energy at higher prices, significantly increasing their revenue. [7] After producers and local governments criticized the resulting price volatility and called for increased regulation, strong lobbying by Enron and others prevented this [8] As Enron became North America's largest natural gas seller in 1992, its gas contract negotiation yielded $122 million (before interest and taxes), the second largest contributor to the net income. The creation in November 1999 of the trading site EnronOnline allowed the company to better manage its contracts by negotiating deals. [6]:7 In an attempt to achieve greater growth, Enron followed a diversification strategy. The company owned and operated a variety of assets, including pipelines, power plants, pulp and paper mills, water plants and broadband services worldwide. The corporation also obtained additional revenue from trading agreements for the same range of products and services with which it was involved. [6]:5 This included the creation of power generation plants in developing countries and emerging markets, including the Philippines (Subic Bay), Indonesia, and India (Dabhol). [9] Enron shares rose from the early 1990s to the end of 1998 by 311%, only modestly above the average growth rate of the Standard & Poor 500 index. [6]:1 However, shares increased 56% in 1999 and over 87% in 2000, compared with a 20% increase and a 10% drop for the index in the
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