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Mon, Jan. 25, 12:41 PM
Mon, Jan. 25, 12:12 PM
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
Fri, Jan. 8, 4:49 PM
- NGL Energy Partners (NYSE:NGL) soared 46% in today's trade, sparked by this morning's $350M sale of its TransMontaigne GP (NYSE:TLP) asset to an affiliate of energy-focused P-E firm ArcLight Capital Partners; TLP finished with a 7.2% gain.
- NGL will use the cash to repay its revolving credit line, and the move should allow it to fund capital needs and forestall issuing more debt or equity.
- Jay Hatfield, portfolio manager of the InfraCap MLP ETF, tells Barron's the deal likely is just the start of P-E purchases of MLP assets or companies, as "the undervaluation of assets is profound and will eventually be arbitraged."
- ArcLight also helped American Midstream Partners (NYSE:AMID) last month with a $75M purchase program for its units; AMID rose 6.3% today.
- ETFs: AMLP, AMJ, KYN, MLPL, TYG, SRV, KYE, CEM, MLPI, NML, FEN, NTG, MLPA, KMF, EMLP, FMO, MLPN, SRF, FEI, JMF, CBA, MLPX, GMZ, EMO, MLPS, TTP, CTR, AMU, CEN, GER, AMZA, SMM, MIE, DSE, ENFR, FPL, ATMP, JMLP, MLPW, IMLP
Tue, Jan. 5, 4:59 PM
- American Midstream Partners (NYSE:AMID) announces a multi-year, fee-based agreement with a major refinery customer to lease 650K barrels of storage capacity at the Harvey terminal in Louisiana.
- AMID says it expects total storage capacity at Harvey to increase to ~1.1M barrels in 2016, and that the partnership's total storage capacity has increased by ~500K barrels since the acquisition of the terminals segment in 2013.
- AMID expects 450K barrels of storage capacity at Harvey to be in service by mid-2016 and the remaining 200K barrels to be in service by late 2016.
Dec. 22, 2015, 12:45 PM
Dec. 21, 2015, 5:37 PM
Dec. 21, 2015, 3:53 PM
- American Midstream Partners (AMID +25.8%) skyrockets after investment firm ArcLight Capital Partners said it may buy up to $75M of its shares.
- ArcLight, which may begin buying shares as early as tomorrow, says it is making the financial commitment because AMID's current unit price undervalues the assets of the company.
- Wunderlich's Jeff Birnbaum rates AMIND a Buy and says that not only does the purchase plan increase the value per unit, but it is an important show of support from AMID’s general partner given the tough times in the industry.
Dec. 21, 2015, 12:45 PM
Dec. 14, 2015, 12:44 PM
Dec. 14, 2015, 9:35 AM
- American Midstream Partners (AMID -2.6%) announces the retirement of Executive Chairman, President and CEO Steve Bergstrom, and appoints Lynn Bourdon as its new Chairman, President and CEO.
- Bourdon most recently served as President and CEO of Enable Midstream Partners.
- Bergstrom, who had led AMID since 2013, will continue to serve as a Director.
Nov. 9, 2015, 4:07 PM
- American Midstream Partners (NYSE:AMID): Q3 EPS of -$0.48 misses by $0.51.
- Revenue of $55.64M (-20.9% Y/Y) misses by $60.65M.
Sep. 10, 2015, 12:44 PM
Sep. 10, 2015, 9:11 AM
Sep. 9, 2015, 4:57 PM
- American Midstream Partners (NYSE:AMID) -9.8% AH after announcing a public offering of 7.5M common units, with an underwriters option to purchase up to an additional 1.125M units.
- AMID says it plans to use the proceeds to fund part of the purchase of a stake in a company that will indirectly own a portion of the Delta House floating production system and related pipeline infrastructure.
American Midstream Partners LP owns, operates, develops and acquires a portfolio of natural gas midstream energy assets The Company is engaged in the business of gathering, treating, processing, fractionating and transporting.
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