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Shares of Cabot Oil & Gas climbed more than 10 percent on Monday, closing at $23.73 a share after analysts upgraded the stock.
Early Monday morning, JPMorgan upgraded Cabot from "neutral" to "overweight," citing the Federal Energy Regulatory Commission's approval of a pending pipeline project. Susquehanna International, meanwhile, upgraded the stock from "neutral" to "positive."
Cabot also announced a regular dividend of 2 cents a share on the common stock, to be paid to shareholders on February 9. The company focuses on exploring, developing and producing energy sources including natural gas.
The proposed Atlantic Sunrise pipeline includes almost 200 miles of new pipeline in Pennsylvania and improvements to existing pipelines in Virginia.