Tue, Jun. 21, 2:58 PM
- Delek Logistics (DKL +2.9%) and Archrock Partners (APLP +10%) are upgraded to Buy from Neutral at Goldman Sachs with respective price targets of $32 and $14, citing attractive relative valuation and upside growth opportunity.
- However, the firm downgrades USA Compression (USAC +0.1%) to Sell from Neutral with a $13 price target, saying the company's high leverage brings risk of a distribution cut.
- Goldman says the calls are part of its more confident medium-term view on U.S. oil and gas production, which will boost utilization rates, but the firm remains uncertain about the near-term outlook, taking into account overcapacity and new market entrants.
Tue, Jun. 21, 2:05 PM
Mon, Jun. 13, 2:05 PM
Tue, May 3, 6:25 AM
Tue, May 3, 12:29 AM
Mon, May 2, 5:30 PM
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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
Nov. 3, 2015, 6:23 AM
- Exterran Partners (NASDAQ:EXLP): Q3 EPS of $0.23 misses by $0.04.
- Revenue of $163.3M (+6.6% Y/Y) misses by $3.15M.
Oct. 28, 2015, 1:55 PM
- A group of high-quality drop-down energy MLPs has outperformed peers, declining 17% while the broader Alerian MLP index suffered a 36% beating, and Credit Suisse analysts say investors should look at buying them.
- Among the MLPs the firm likes is EQT Midstream Partners (NYSE:EQM), citing its $3.3B organic project backlog in the northeast U.S., its balance sheet and its “strong parent along with upside from dry Utica.”
- Credit Suisse upgrades Phillips 66 Partners (NYSE:PSXP) to Outperform from Neutral, believing the company is “poised to grab a larger share of the overall organic projects given its growing size and IG balance sheet."
- Exterran Partners (NASDAQ:EXLP) is recommended for its “strong 12% yield and 95%-plus utilization levels, along with potential organic projects," and VTTI Energy Partners (NYSE:VTTI) is praised for its “fixed, free-based cash flows from [a] geographically diverse asset base.”
Aug. 4, 2015, 7:18 AM
- Exterran Partners (NASDAQ:EXLP): Q2 EPS of $0.33 beats by $0.05.
- Revenue of $164.3M (+12.8% Y/Y) misses by $4.01M.
Aug. 3, 2015, 5:30 PM
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Jul. 24, 2015, 3:19 PM
- Exterran Holdings (EXH -10.1%) plunges 10% to 52-week lows after withdrawing a $400M high-yield offering and delaying a related spinoff of its fabrication and international services business, blaming current market conditions.
- The selloff in crude oil has effectively closed the door of the bond market for much of the energy sector, Reuters reports.
- BTIG downgrades shares to Neutral from Buy on the news, as the failure of execution makes it much less likely that EXH will complete the spinout in 2015 and possibly beyond; the firm considered the spin important to ts previous Buy recommendation as a means for the company to unlock trapped value.
Jul. 13, 2015, 4:42 PM
- Exterran Holdings (NYSE:EXH) fills in more details around its planned spinoff of its international services and global fabrication businesses into a stand-alone, publicly traded company named Exterran Corp., which has applied to list its common stock on the NYSE under the ticker EXTN.
- Exterran Holdings, which will continue to own and operate its contract operations and aftermarket services businesses in the U.S., will be renamed Archrock Inc. and trade on the NYSE under the symbol AROC.
- Exterran Partners (NASDAQ:EXLP) will be renamed Archrock Partners and trade on Nasdaq under the symbol APLP.
- In connection with the spinoff, Exterran Corp. subsidiaries plan to offer $400M in senior unsecured notes due 2022.
Jun. 9, 2015, 5:32 PM
- Exterran Holdings (NYSE:EXH) announces management teams for its plan to separate into two stand-alone publicly-traded companies.
- Andrew Way, current CEO of Drilling and Surface at GE Oil & Gas, will join EXH on July 1 and become President and CEO of the spinoff company upon completion of the separation, and current EXH CFO Jon Biro will become CFO of the spinoff.
- Exterran President/CEO Brad Childers will be President and CEO of EXH, which will be a pure-play U.S. compression services business; current Exterran Partners (NASDAQ:EXLP) CFO David Miller will become CFO of the remaining company as well as CFO of EXLP.
Archrock Partners LP provides natural gas compression services. It operates its business together with its subsidiaries. The company's services include designing, sourcing, owning, installing, operating, servicing, repairing and maintaining equipment to provide natural gas compression services... More
Sector: Basic Materials
Industry: Oil & Gas Equipment & Services
Country: United States
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