American Midstream Partners, LPNYSE
Mon, Nov. 7, 10:34 PM
Mon, Oct. 24, 8:15 AM
- American Midstream Partners (NYSE:AMID) agrees to acquire JP Energy Partners (NYSE:JPEP) in an all-stock deal, creating a midstream MLP with a ~$2B enterprise value.
- JPEP's unitholders will receive $8.63/unit in the deal, a 14.5% premium to Friday closing price.
- P-E firm ArcLight Capital Partners, the sponsor of both companies with a 15.6% holding of AMID and 19.8% of JPEP as of June 30, will combine the general partners of the two companies.
- The combined company will own and operate more than 3,100 miles of gathering and transportation pipelines in some of North America's leading basins, including the Permian, Gulf of Mexico, Eagle Ford and Bakken.
Fri, Oct. 21, 6:46 AM
Sat, Sep. 10, 8:25 AM
- Energy MLPs enjoyed a lift this week (at least until yesterday) following news of the Enbridge-Spectra merger, particularly those lacking sponsorship by producers that may be targets for consolidation.
- Credit Suisse sees logical players to be involved in combinations to secure access to opportunities and capital including ETE/ETP, EPD, MMP, PAA/PAGP, OKE/OKS, WPZ, PSX/PSXP, MPC/MPLX, TRGP, NS/NSH, GEL and TEP/TEGP.
- FBR Capital says MLP valuations have improved ~45% from lows reached early this year, and expects macro trends to lift the sector; the firm thinks CAPL could enjoy double-digit growth for nearly seven years, and says MMLP is another notable outperformer whose valuation reflects more than enough discount for a distribution cut (which the firm is forecasting) - it also likes ENLK, EEP, TLP, SRLP, USAC, WLKP and USDP,
- RBC notes favorable sentiment in the MLP realm, highlighting attractive valuations particularly at ETP, BWP and AMID, and sees dropdown stories - out of favor YTD - such as VLP and SHLX offering visible growth that can support the stocks over the next 12 months.
- ETFs: AMLP, AMJ, KYN, TYG, KYE, SRV, CEM, MLPI, NML, FEN, NTG, KMF, MLPA, EMLP, FMO, AMZA, FEI, JMF, SRF, CBA, MLPN, GMZ, MLPX, GER, EMO, TTP, CTR, MLPS, CEN, SMM, DSE, FPL, AMU, MIE, JMLP, ENFR, ATMP, IMLP
Tue, Aug. 30, 2:03 PM
Mon, Aug. 8, 4:34 PM
Fri, Jul. 29, 5:58 PM
- Noting that many MLPs have climbed after announcing distribution reductions this year, Baird analysts compile a list of 14 10%-plus yielding MLPs they believe could enjoy a quick price boost after announcing a cut.
- The Baird group does not necessarily recommend investors buy all the MLPs on the list, but "ample market evidence exists a) to justify a cut, and b) to believe it will drive short run returns, though not without material implications to investors’ cash flow."
- The 14 MLPs: AMID, ARCX, CCLP, CELP, CEQP, EEP, ENBL, ETP, JPEP, MEP, MMLP, SMLP, USAC, USDP
Thu, Jul. 21, 5:34 PM
Thu, Jul. 21, 5:27 PM
Mon, May 9, 4:43 PM
- American Midstream Partners (NYSE:AMID): Q1 EPS of -$0.33 misses by $0.48.
- Revenue of $46.12M (-28.6% Y/Y) misses by $12.73M.
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
- American Midstream Partners (NYSE:AMID) declares $0.4125/share quarterly dividend, -12.7% decrease from prior dividend of $0.4725.
- Forward yield 18.19%
- Payable May 13; for shareholders of record May 4; ex-div May 2.
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.