EQT Midstream: A Small Marcellus Focused MLP To Bet On
Sarfaraz A. Khan
Sarfaraz A. Khan
Massive Growth Lies Ahead For EQT Midstream Partners
Thu, Apr. 28, 6:49 AM
Wed, Apr. 27, 5:30 PM
- AB, ABBV, ACOR, ADP, AEP, AET, AIT, ALKS, ALLE, ALXN, AME, APD, ASPS, AUO, AVT, AXTA, BC, BCOR, BG, BLL, BMS, BMY, BOFI, BWA, BWEN, BXLT, BZH, CAB, CAH, CBG, CCE, CELG, CHTR, CIT, CL, CLF, CLFD, CME, CMS, COMM, COP, COR, CRCM, CRI, CRR, CSH, CVI, CVRR, CWT, CY, DBD, DFT, DLX, DNKN, DOW, DPZ, EME, EPD, EQM, EQT, F, FCFS, FCN, GEO, GLOP, GNC, GOV, GTLS, GWR, HAR, HEES, HHS, HMC, HUN, I, IDA, IDCC, INGR, INSY, INT, IPGP, IQNT, IRDM, IRM, ITC, ITCI, IVC, IVZ, KERX, LANC, LBY, LKQ, LVLT, MA, MD, MDP, MHO, MINI, MITK, MJN, MMC, MO, MPC, MPLX, MSCI, MTH, NEE, NEWM, NOV, OAK, ODFL, ORI, OSK, PF, PJC, POT, PPL, PRLB, PTEN, QSR, RGS, RTIX, RTN, RUTH, SABR, SCG, SEE, SFE, SIRI, SNAK, SNE, SPB, SPIL, SQNS, TFX, THRM, TMO, TOWR, TPX, TWC, TZOO, UAN, UBSI, UFS, UPS, UTHR, VA, VAC, VC, VIAB, VIVO, WCC, WM, WNS, WST, XRS, YNDX, ZBH
Tue, Apr. 26, 5:50 PM
Wed, Mar. 30, 7:09 AM
- February monthly performance was: +1%
- 52-week performance vs. the S&P 500 is: -38%
- No dividends were paid in February
- Top 10 Holdings as of 12/31/2015: Enterprise Products Partners LP (EPD): 18.36%, Energy Transfer Partners LP (ETP): 10.13%, Magellan Midstream Partners LP (MMP): 8.69%, MPLX LP (MPLX): 5.14%, Buckeye Partners LP (BPL): 4.11%, Plains All American Pipeline LP (PAA): 3.95%, Sunoco Logistics Partners LP (SXL): 3.86%, EQT Midstream Partners LP (EQM): 3.84%, Enbridge Energy Partners LP (EEP): 3.57%, Williams Partners LP (WPZ): 3.49%
Thu, Mar. 17, 5:55 PM
- EQT Corp. (NYSE:EQT) names Robert McNally as its new CFO, effective Mar 21; his most recent previous position was executive VP and CFO of Precision Drilling.
- McNally also is appointed as CFO of EQT Midstream Partners (NYSE:EQM) and EQT GP Holdings (NYSE:EQGP).
- Current CFO Philip Conti already had announced his intention to retire in 2016.
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.
Sat, Feb. 20, 8:25 AM
- Moody’s says it has downgraded a total of 28 energy companies since December, including another eight yesterday.
- Anadarko Petroleum (NYSE:APC), Continental Resources (NYSE:CLR), Hess (NYSE:HES), Murphy Oil (NYSE:MUR), Southwestern Energy (NYSE:SWN) and Western Gas Partners (NYSE:WES) were cut to junk levels.
- National Fuel Gas (NYSE:NFG) and Noble Energy (NYSE:NBL) were lowered to Baa3, one notch above junk.
- Outlooks for Cimarex Energy (NYSE:XEC) and EQT Corp. (NYSE:EQT) were confirmed above junk without downgrades, while EQT Midstream (NYSE:EQM) was affirmed in junk territory but not downgraded.
- Moody's says weakness in prices for crude oil and natural gas has caused a fundamental change in the energy industry, whose ability to generate cash flow has fallen substantially - a condition Moody's believes will persist for "several years," so it is in the process of recalibrating the ratings of many energy companies to reflect the industry shift.
- More downgrades are sure to be on the way following last month's move by the ratings agency in placing the credit ratings of 120 energy companies and 55 mining companies from around the world on review for possible downgrade.
Thu, Feb. 4, 7:47 AM
- EQT Midstream Partners (NYSE:EQM): Q4 EPS of $1.26 beats by $0.17.
- Revenue of $156.36M (+20.9% Y/Y) misses by $0.38M.
Wed, Feb. 3, 5:30 PM
- ABC, ABG, ABMD, ARW, AZN, BCE, BCO, BR, BSX, BZH, CARB, CFX, CHTR, CI, CLX, CMI, CMS, COP, COTY, CRS, CS, CSL, CUB, DFT, DLPH, DNKN, EQM, EQT, GLPI, GRUB, HIMX, ICE, IT, ITG, KELYA, LQDT, LVLT, MD, MHFI, MHO, MMC, MMP, MMS, MSCI, MSG, NAO, NYT, ODFL, OXY, PBH, PM, PPL, PRLB, PTEN, RDS.A, RFP, RL, RSTI, SBH, SNA, SPH, SQNS, STRA, TDC, TDY, TE, TPX, UTEK, VLP, VMC, WEC, XYL
Fri, Jan. 22, 6:07 AM
- EQT Midstream Partners (NYSE:EQM) declares $0.71/share quarterly dividend, 5.2% increase from prior dividend of $0.675.
- Forward yield 4.54%
- Payable Feb. 12; for shareholders of record Feb. 1; ex-div Jan. 28.
Dec. 7, 2015, 2:59 PM
- EQT Corp. (EQT -4.2%) outlines plans to spend ~$1B in 2016, including EQT Midstream Partners (EQM -4%), more than 80% of which will go towards well development in the Marcellus and the Utica shales.
- EQT sees production sales volume in 2016 of 700B-720B cfe, with plans to drill 72 Marcellus wells with an average lateral length of 7K ft., all of which will be on multi-well pads to maximize operational efficiency and well economics; EQT also plans to drill five deep Utica wells with an average lateral length of 5.2K ft., with possibly up to another five wells drilled.
- EQT says the Huron gathering system will not be dropped into EQM, because of declining volume and cash flow trajectory.
Nov. 10, 2015, 9:13 AM
Nov. 9, 2015, 4:55 PM
- EQT Midstream Partners (NYSE:EQM) announces a public offering of 5.65M common units, with an underwriters option to purchase up to an additional 847.5K units.
- EQM says it plans to use the proceeds for general partnership purposes, including to fund a portion of its anticipated transmission and gathering expansion in 2016.
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.”
Oct. 22, 2015, 5:20 PM
- EQT Corp. (NYSE:EQT) fell 8% in today's trade after saying it will suspend natural gas drilling outside of core areas in Pennsylvania and West Virginia.
- EQT CEO David Porges said in today's earnings conference call that EQT will focus on core acreage in the Marcellus and Deep Utica formations in southwestern Pennsylvania and northern West Virginia.
- EQT plans to drill 10-15 wells next year in the Deep Utica formation, which "could be larger than the Marcellus over time,” Porges says, offering a preliminary estimate for EQT's 2016 production growth at 15%-20% above 2015 levels.
- EQT Midstream (NYSE:EQM) fell 3.6% today.
Oct. 22, 2015, 6:53 AM
- EQT Midstream Partners (NYSE:EQM): Q3 EPS of $1.12 beats by $0.02.
- Revenue of $148.79M (+23.0% Y/Y) misses by $2.81M.
EQT Midstream Partners LP owns, operates, acquires and develops midstream assets in the Appalachian Basin. The company provides natural gas transmission, storage and gathering services under contracts with fixed reservation and/or usage fees. It intends to focus its operations in the Marcellus... More
Sector: Basic Materials
Industry: Major Integrated Oil & Gas
Country: United States
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