Thu, Jul. 21, 5:34 PM
Thu, Jul. 21, 5:27 PM
Mon, May 9, 4:43 PM
Tue, Apr. 26, 5:45 PM
- American Midstream Partners (NYSE:AMID) closed 22% higher today after announcing yesterday that it cut its distribution by 13% and received $225M in dropdown assets and new acquisitions, which should increase cash flows in the future.
- Wunderlich MLP analyst Jeff Birnbaum says the news was positive and positions AMID to potentially attract new capital; the firm maintains its Hold rating but raises its price target to $11 from $6.50, at which AMID offers a 15% current yield.
- Birnbaum had downgraded AMID in January in anticipation of a distribution cut, but the recent trend seems to reward such cuts as a far better outcome than a total suspension.
Tue, Apr. 26, 12:46 PM
Tue, Apr. 26, 9:16 AM
Mon, Apr. 25, 5:58 PM
- American Midstream Partners (NYSE:AMID) +26.8% AH after agreeing to acquire interests in Gulf of Mexico midstream infrastructure and incremental ownership in Delta House for a combined ~$225M.
- AMID says it acquired interests in the Destin natural gas pipeline, which is supplied by Delta House and other large eastern Gulf of Mexico producing fields, and acquired an additional 1% interest in Delta House, increasing its total ownership in Delta House to ~14%.
- AMID also acquired a majority interest in Gulf of Mexico crude, natural gas and saltwater onshore and offshore pipelines, including the Henry Gas Gathering System, from Chevron (NYSE:CVX).
- AMID revises 2016 guidance for adjusted EBITDA of $125M-$135M vs. prior guidance of $105M-$120M and distributable cash flow of $85M-$95M vs. prior $70M-$85M, and forecasts fee-based cash flow of more than 90% and distribution coverage of greater than 1.5x.
- Distribution is reduced by $0.24, or ~13%, on an annualized basis to provide additional liquidity, fund growth projects and reduce borrowings.
- Now read MLP Bottom Fishing 6: American Midstream Partners
Mon, Apr. 25, 5:50 PM
Tue, Apr. 5, 1:55 PM
- American Midstream Partners (AMID +0.8%) says it has begun operations at its Longview rail terminal in eastern Texas.
- AMID says the new facility is being served by the Union Pacific railway through its Gladewater Station and includes more than 8,900 ft. of lead track with the capacity for more than 50 general purpose or pressure railcars; it also can receive and deliver up to 4,500 bbl/day of on-spec and off-spec natural gas liquids, with similar capabilities for rail-to-truck loading.
- AMID says future plans include additional receipt and delivery capabilities and sufficient track on the 400-acre site for unit trains.
Wed, Mar. 23, 5:38 PM
Tue, Mar. 8, 12:49 PM
Mon, Mar. 7, 4:21 PM
Mon, Jan. 25, 12:41 PM
Mon, Jan. 25, 12:12 PM
- American Midstream Partners (NYSE:AMID) declares $0.4725/share quarterly dividend, in line with previous.
- Forward yield 27.92%
- Payable Feb. 12; for shareholders of record Feb. 3; ex-div Feb. 1.
Wed, Jan. 20, 12:15 PM
- The slide in MLPs accelerates as crude oil prices still show no signs of bottoming; the Alerian MLP ETF (AMLP -8%) has plunged as much as 10% today and is down nearly 30% YTD.
- While acknowledging the obviously difficult upcoming Q4 earnings season, Wunderlich's Jeff Birnbaum sees Enterprise Products Partners (EPD -7.6%) and Magellan Midstream Partners (MMP -7.9%) having the best visibility into cash flows and limited counterparty risk; while the analyst lowers estimates for the two, he says each team has a strong balance sheet with which it can attempt to take advantage of market stresses and advance its footprint along the Gulf Coast.
- Birnbaum downgrades Western Gas Equity Partners (WGP -20.8%), citing a reduced distribution growth outlook and ongoing premium valuation, and American Midstream Partners (AMID -12%), believing a distribution cut is more likely with the latest move lower in the WTI futures curve.
- ETFs: AMLP, AMJ, KYN, MLPL, YMLP, TYG, SRV, KYE, CEM, MLPI, NML, FEN, NTG, MLPA, KMF, EMLP, FMO, MLPN, SRF, FEI, JMF, CBA, MLPG, MLPX, GMZ, EMO, MLPS, MLPY, TTP, CTR, YMLI, AMU, CEN, MLPJ, ZMLP, GER, AMZA, SMM, MIE, DSE, ENFR, FPL, ATMP, JMLP, MLPC, MLPW, IMLP
Fri, Jan. 15, 6:33 PM
- Wells Fargo's energy MLP analysts lists the companies they believe are most likely to cut their distributions, and finds the model is “broken” for just under half of all MLPs.
- The firm's list includes eight names with the most leverage - all at levels of 4.7x EBITDA or greater: AMID, APLP, CCLP, CEQP, ETE, ETP, WMB and WPZ.
- Its top picks include Enterprise Products Partners (NYSE:EPD), Magellan Midstream Partners (NYSE:MMP) and Spectra Energy Partners (NYSE:SEP), for their combination of predominantly fee-based cash flows, minimal volume risk, modest financing needs and conservative balance sheets.
- ETFs: AMLP, AMJ, KYN, MLPL, YMLP, TYG, SRV, KYE, CEM, MLPI, NML, FEN, NTG, MLPA, KMF, EMLP, FMO, MLPN, SRF, FEI, JMF, CBA, MLPG, MLPX, GMZ, EMO, MLPS, MLPY, TTP, CTR, YMLI, AMU, CEN, ZMLP, GER, AMZA, SMM, MIE, DSE, ENFR, FPL, ATMP, JMLP, MLPC, MLPW, IMLP
American Midstream Partners LP is engaged in gathering and processing segment includes natural gas transportation, gathering, treating, processing, fractionation, and marketing or re-delivery of natural gas and natural gas liquids. It operates through three segments: Gathering and Processing,... More
Sector: Basic Materials
Industry: Oil & Gas Pipelines
Country: United States
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