Mon, May 9, 5:10 AM
Thu, Feb. 25, 7:25 PM
- Morgan Stanley analyst Tom Abrams sees improvement in the MLP multiple compression that has weighed on the group throughout the oil downturn, and the firm expands its MLP coverage by initiating ratings on several midstream names.
- While MLP prices could yet fall to new lows, Abrams believes progress has been made in approaching a bottom; however, he says investors should continue to avoid MLPs with overly-levered balance sheets, funding issues, weak cash flows and high distribution risk.
- Initiated with an Overweight rating: BPL, PSXP, VLP, DM, CPPL.
- Initiated at Equal Weight: MMP, CPGX, EQGP, EQM, WGP, WES, NS, NSH.
- Initiated at Underweight: EEP, ENBL, EEQ, MEP.
Dec. 10, 2014, 7:15 PM
- Some energy limited partnerships - pipeline operators or wholesale distributors, with less risky business models than oil E&P companies - have escaped much of the carnage in energy stocks and may make attractive investments, MarketWatch's Philip Van Doorn writes.
- These 12 energy LPs, most of which fell today amid the energy sector rout, actually have posted gains since Nov. 1: TCP, EEQ, EEP, DM, BPL, SHLX, SGU, BIP, SRLP, APU, SEP, SPH.
- Credit Suisse analyst John Edwards recently said many energy LPs look oversold; his top picks in the sector include EEP as well as NGLS, GEL, OKS, CNNX, PAA, BWP and AM.
Dec. 9, 2014, 5:25 PM
- Canada will not impose new carbon emission rules on its oil and gas sector in a time of falling oil prices, Prime Minister Harper tells the House of Commons as international talks begin in Peru to reach a new global agreement on curbing greenhouse gas emissions.
- Canada’s critical energy sector has been slammed by the recent collapse of world oil prices, and a number of Canadian producers recently have announced plans to cut spending and dividends.
- Harper’s government, which counts the resource-rich western provinces as its core political base, had said it was prepared to work with the U.S. on environmental rules covering the continental oil and gas sector.
- Among Canada's top energy firms: SU, ENB, EEP, EEQ, TRP, IMO, CNQ, TCK, CVE, BTE, OTCQX:COSWF, OTCQB:HUSKF
Dec. 4, 2014, 3:25 PM
- Enbridge (ENB +10.8%) soars to all-time highs on heavy volume following news of its sweeping plan to raise its dividend by 33% and transfer ownership of its Canadian pipelines to affiliates in a bid to lower funding costs for future expansion and new projects.
- The dropdown allows ENB “to accelerate dividend growth immediately and for the next four-plus years,” ScotiaBank analyst Matthew Akman says.
- "It's another attempt to remove the conglomerate discount by streamlining its businesses," says Colin Cieszynski of CMC Markets.
- The move comes as rival TransCanada (TRP +1.6%) faces pressure from activist investors to overhaul its business, including accelerating dropdowns into its U.S.-based affiliate TC Pipelines (TCP +0.6%) and a spinoff of its power business.
- EEP +6.6%, EEQ +7.3%.
Dec. 4, 2014, 8:41 AM
- Enbridge (NYSE:ENB) +9.6% premarket after saying it will increase its dividend by 33% and transfer ownership of its Canadian pipelines to affiliates in an attempt to lower funding costs for future expansion and new projects.
- ENB plans to drop down its Canadian pipeline assets to its Enbridge Income Fund subsidiary and then raise up to C$800M in equity over the next three years through another affiliate, Enbridge Income Fund Holdings (OTC:EBGUF).
- The combined value of the pipeline assets involved in the transfer totals C$17B and includes the Canadian segment of the Alberta Clipper pipeline.
- ENB says it also is considering a similar move to restructure its U.S. assets by transferring them to its Enbridge Energy Partners (NYSE:EEP) affiliate.
Sep. 18, 2014, 5:36 PM
Jun. 19, 2014, 12:45 PM
Sep. 9, 2013, 5:11 PM
- Enbridge Energy Management (EEQ) -3.4% AH after saying it commenced a public offering of ~8M of its listed shares.
- Proceeds will be used to invest in an equal number of i-units of Enbridge Energy Partners (EEP), which will pay down debt, finance a portion of its capex program relating to its core liquids and natural gas systems, and for general partnership purposes.
Aug. 18, 2013, 8:30 AM
- U.S. pipeline operators have a problem - finding cracks before they rupture and turn into oil spills.
- The "number one asset," a torpedo-like robot called a "smart pig," can't always spot the fissures, or the data collected can take months to analyze.
- A case in point came when Exxon Mobil (XOM) inspected a pipeline in Arkansas in February using a smart pig, only for the line to split open a month later and spill 5,000 barrels of crude. The device didn't find the minute cracks along the seam of the pipe that caused the burst.
- The boom in U.S. oil output is straining the country's 184,000 miles of pipeline, with the volume of spillages jumping by 77% so far this year to 93,000 barrels.
- Companies affected include EEQ, EEP, BKEP, MWE, KMR, KMP, SXE, EPD, PAA MMP, HEP and PSXP.
May 1, 2013, 4:39 AMEnbridge Energy Management (EEQ): Q1 EPS of $0.21 beats by $0.08. Revenue of $1.69B misses by $0.23B. (PR) | May 1, 2013, 4:39 AM
Mar. 1, 2013, 12:56 PM
Feb. 26, 2013, 9:10 AM
Feb. 25, 2013, 5:45 PM
Enbridge Energy Management (EEQ) -4.9% AH after announcing a public offering of 9M shares. Proceeds will be used to invest in an equal number of i-units of Enbridge Energy Partners (EEP), who plans to utilize such proceeds to debt, finance a portion of its capital expansion program and for general partnership purposes. EEP +0.8% AH.| Feb. 25, 2013, 5:45 PM | 3 Comments
Jul. 24, 2009, 5:10 PMEnbridge Energy Management LLC (EEQ): Q2 EPS of $0.88 beats by $0.39. Revenue of $1.3B (-55%) vs. $1.8B. Shares +3.3% AH. (PR) | Jul. 24, 2009, 5:10 PM