27 Mar Two Houston companies make Forbes’ ‘Most Trustworthy’ list
Two Houston companies were among the handful of Texas-based companies named to Forbes magazine’s list of “America’s 100 Most Trustworthy Companies.”
Enbridge Energy Partners LP (NYSE: EEP) is on the list in the large-cap category, and Furmanite Corp. (NYSE: FRM) is in the micro-cap category.
Forbes worked with GMI Ratings, a company that specializes in the development of nontraditional risk measures for financial analysis, to compile the list of 100 most transparent and trustworthy businesses traded on American exchanges. GMI analyzed 8,000 companies and scored them based on 60 governance and accounting measures.
All 100 companies on the list have market caps of at least $250 million as of March 7. Trustworthy companies must not have any amended filings with the Securities and Exchange Commission, SEC enforcement actions or material restatements. They also must have a positive forecast for equity returns and a minimal likelihood of financial distress.
Enbridge received an accounting and governance risk score of 74, and over the past four quarters, its average AGR score was 84. Furmanite scored 81 and had a four-quarter average of 88.
Other Texas companies on the list are San Antonio-based Valero Energy Corp. (NYSE: VLO) in the large-cap category and Austin-based American Campus Communities Inc. (NYSE: ACC) in the mid-cap category.
Sourced from bizjournals.com