Thu, Jul. 21, 5:34 PM
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
Wed, Mar. 23, 5:38 PM
Tue, Mar. 8, 12:49 PM
Mon, Jan. 25, 12:41 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
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.
Sep. 10, 2015, 12:44 PM
Sep. 10, 2015, 9:11 AM
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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