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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
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.
Aug. 11, 2015, 12:58 PM
- American Midstream Partners (AMID +43.4%) skyrockets following yesterday's news that its general partner, ArcLight Capital Partners, would drop down 25% of its 51% interest in Delta House for $162M.
- Delta House is a semi-submersible floating production system and associated oil and gas export pipelines in the deepwater Gulf of Mexico.
- The announcement provides the clarity to AMID's drop-down plans that investors were seeking, Wunderlich's Jeff Birnbaum says.
- Earlier: American Midstream Partners misses by $0.38, misses on revenue
Aug. 11, 2015, 12:45 PM
Apr. 9, 2014, 3:32 PM
- American Midstream Partners (AMID +2.5%) is initiated with an Overweight rating and $29 price target at Barclays, which likes the series of large, strategic and ultimately transformational changes the company has executed over the past 12 months that improve its financial and strategic stability and position.
- Completed acquisitions and drops have successfully diversified AMID into liquids storage and established its gathering footprint in the Eagle Ford shale, the firm says.
Dec. 10, 2013, 4:31 PM
- American Midstream Partners (AMID) -4.3% AH after agreeing to acquire Blackwater Midstream, a developer and operator of terminal storage facilities, from an affiliate of ArcLight Capital for $60M.
- The acquisition includes Blackwater's three operating terminals, which have 1.3M barrels of storage capacity for a variety of products including chemical, agricultural and petroleum liquid products; the revenues are fee-based and almost entirely derived from take-or-pay lease contracts.
- To fund the deal, AMID will launch a public offering of 2.4M common units.
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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