GasLog Ltd: A Pure LNG Dividend Play
Chris Nealand • 19 Comments
Chris Nealand • 19 Comments
GasLog Ltd. A Premier Long-Term Growth Opportunity
Casey Hoerth • 80 Comments
Casey Hoerth • 80 Comments
Positive Sentiments And Stock Upside To Continue For GasLog
Mon, Jun. 20, 9:16 AM
- GasLog (NYSE:GLOG) says it is launching $1.05B in debt financing across six legacy facilities covering eight on-the-water vessels.
- The re-financing includes a $100M revolving credit facility and extends the maturity of existing facilities to 2021.
- GLOG says the terms of the legacy facility re-financing are in line with existing facilities, demonstrating the banks' strong appetite to lend to leading companies in the liquefied natural gas industry.
Fri, May 6, 7:00 AM
Thu, May 5, 5:30 PM
Fri, Apr. 22, 12:28 PM
- Jefferies upgrades both GasLog (GLOG +4.2%) and Golar LNG (GLNG +3.5%) to Buy from Hold, saying the companies are well positioned for an improving liquefied natural gas shipping market environment.
- The firm cites GLOG's built-in growth and growth aspirations as well as the potential to also pursue FLNG projects; it raises its stock price target to $17 from $8 based on shares trading at 140% of estimates net asset value, in-line with the historical multiple.
- Jefferies likes GLNG's significant spot market exposure and burgeoning FLNG business, and thinks the company is poised for an anticipated near-term increase in global LNG shipping volumes as well as potentially stronger crude oil and LNG prices in 2017.
- Now read LNG shipping: Demand-side macro outlook for April
Wed, Mar. 16, 10:58 AM
- J.P. Morgan downgrades GasLog (GLOG -2.9%) to Underweight from Neutral with a $9 price target while upgrading GasLog Partners (GLOP +4.1%) to Neutral from Underweight with a $15 target, citing an anticipated dividend cut by the parent company.
- GLOG likely will run out of unrestricted cash by H2 2017 if it continues with its current $0.56 annual dividend payout, and the only way to plug the gap is via a ~80% dividend cut, the firm says, adding that while such a move would be prudent in protecting liquidity in the long run, "typically stocks have a knee jerk negative reaction to a dividend cut."
- The firm says GLOG aims to exploit a cost of capital arbitrage to grow the distribution at its GLOP MLP while retaining significant value at the parent company, but the strategy may no longer be viable in view of the deterioration in MLP valuations.
Thu, Feb. 25, 7:00 AM
Wed, Feb. 24, 5:30 PM
- AAON, ACIW, AG, ALKS, AMCX, AMRN, AMWD, ANSS, APA, APLP, AROC, BBY, BUD, CCOI, CHS, CLDX, CM, CNSL, CORE, CPB, CPK, CRI, CVC, DPZ, EGRX, EME, EMES, ENOC, FCH, FCN, FIG, GLOG, GOGO, GTLS, GVA, HBM, HEES, HMHC, HTWR, INCR, IONS, IRDM, IRM, ITC, KERX, KOP, KSS, LKQ, MITL, NEWM, NPO, [[NTi]], NXST, PCRX, PDCO, PF, PGTI, PRIM, PWR, RDUS, RGEN, RRD, RWLK, SAFM, SDRL, SEAS, SERV, SFM, SFUN, SHLD, SPAR, STWD, TD, TFX, TREE, TWI, UNT, UTHR, VAC, VC, VWR, W, WIN, WNR, WNRL, WPC, XCRA, ZBRA, ZEUS
Dec. 18, 2015, 5:30 PM
- Golar LNG Partners (NASDAQ:GMLP) rebounded more than 15% to recover a chunk of its 42% shellacking suffered yesterday amid the Teekay dividend cuts, after saying it has experienced no material changes in its operations since its Q3 earnings announcement on Nov. 30.
- GMLP says its distribution policy has not changed and expects an unchanged distribution of $0.5775/unit in Q4; also, GMLP's board authorizes the repurchase of up to $25M of its outstanding common units.
- The other relevant stocks ended mostly higher: GLOG +2.7%, GLNG +0.1%, GLOP -3.1%, TK +21%, TNK +2.4%, TGP +12.8%, TOO +36.4%.
Dec. 17, 2015, 12:45 PM
Dec. 17, 2015, 10:48 AM
- GasLog (GLOG -13.6%) and Golar LNG (GLNG -8.1%) are sharply lower in the wake of the Teekay dividend cuts, as the market focuses on GLOG and GLNG following Teekay's (TK -55.6%) announcement and Kinder Morgan's cut earlier this month.
- Wells Fargo downgrades TK and GLOG to Market Perform from Outperform, saying pressure around dividend cuts is likely to continue weighing on the stocks.
- The firm issues reduced price target ranges for the stocks, to $18-$20 from $35-$37 for TK and to $10-$12 from $21-$23 at GLNG.
- Also: TGP -45.8%, GMLP -34%, GLOP -8.4%, STNG -3.5%, NNA -3.2%, NAP -2.2%.
Nov. 5, 2015, 7:05 AM
- GasLog (NYSE:GLOG): Q3 EPS of -$0.05 misses by $0.06.
- Revenue of $105.8M (+6.4% Y/Y) misses by $3.17M.
Nov. 4, 2015, 5:30 PM
- AAWW, ACIW, ACRE, ACTA, AES, AGIO, AGU, AINV, ALSK, AMCX, AMED, AMRC, ANSS, APA, ATHM, AZN, BBEP, BCE, BCRX, BDBD, BEE, BR, CCC, CCOI, CECE, CELG, CLDT, CNK, CNP, CNQ, CNSL, CONE, COTY, CROX, CSTM, CWEI, DNR, DUK, EGL, ENB, ENDP, ENOC, ESI, FUN, GEO, GLOG, GLP, GOGO, HFC, HGG, HII, HRC, INSY, IRC, IT, ITC, ITG, KATE, KOP, LAMR, LBY, LINE, LPI, LXP, MEG, MGA, MITL, MPEL, MPW, MSG, MSO, MVIS, MZOR, NDLS, NGS, NHI, NILE, NRP, OGE, OMED, PBH, PDCE, PRFT, PRIM, PWE, PWR, RDUS, RGEN, RGLD, RICE, RL, RLGY, RRD, RVLT, RWLK, SCOR, SEAS, SFM, SFY, SJI, SNSS, SPAR, SRC, SRPT, SSTK, STN, STWD, SYMC, TAP, TDC, TE, THS, TIME, TK, TLP, TNK, TRXC, TU, USAC, VC, VER, VIVO, WAC, WIN, WPP, ZEUS
Oct. 2, 2015, 12:34 PM
- The bloom is off the rose for energy MLPs, as the Alerian MLP index hit its lowest level in more than five years this week and is down 30% YTD, far underperforming other yield-oriented indexes such as the MSCI REIT Index, which is down only 6%.
- Negative sentiment around commodities has overwhelmed the old narrative that MLPs fund generous payouts from pipelines backed by fee-based contracts, unsullied by the vagaries of energy prices; even if price risk is mitigated, revenue still takes a hit when less oil or gas flows through a pipeline whether due to increased competition or less drilling.
- Meanwhile, with debt markets increasingly difficult for energy firms, more borrowing comes at a steep price; Enbridge Energy Partners (NYSE:EEP) yesterday closed on $1.6B of new bonds at what S&P called “some of the highest absolute costs in recent years for investment-grade funds."
- MLPs have not bottomed yet, says Cumberland Advisors, noting that banks soon will take a fresh look at the value of energy assets for the purpose of renewing credit lines, which could prompt a washout in the overall energy industry.
- MKM Partners‘ chief market technician Jonathan Krinsky is starting to find some "downside extremes," and says he's buying EPD, ENB, SE, MMP and CQP, but he's selling OKS, DPM, SMLP, GMLP and GLOG.
- Earlier: MLP investors, worried over Williams deal, head for the exits (Sept. 28)
- ETFs: AMLP, AMJ, KYN, MLPL, TYG, SRV, KYE, CEM, MLPI, NML, FEN, NTG, MLPA, KMF, EMLP, FMO, MLPN, SRF, FEI, JMF, CBA, MLPX, GMZ, EMO, MLPS, TTP, CTR, AMU, CEN, GER, AMZA, SMM, MIE, DSE, ENFR, FPL, ATMP, JMLP, MLPW
Aug. 6, 2015, 7:13 AM
- GasLog (NYSE:GLOG): Q2 EPS of $0.00 misses by $0.10.
- Revenue of $104.44M (+42.6% Y/Y) beats by $0.4M.
Aug. 5, 2015, 5:30 PM
- AAON, ACTA, AGIO, AGN, AGO, AINV, AMCX, APA, AXAS, AYR, BBEP, BBW, BCE, BDBD, BDX, BECN, CC, CCC, CCOI, CECE, CNK, CNQ, CNSL, CRIS, CRZO, CTB, DDD, DUK, DX, EAT, EBS, EMES, ENOC, ENR, EXK, EXTR, FSV, FSYS, GCAP, GLOG, GLP, GNRC, GOGO, GTXI, GWPH, HCLP, HGG, HII, HILL, HL, HSNI, INFI, INSY, IRC, KOP, KORS, LAMR, LEAF, LPI, LQDT, MBLY, MEG, MFC, MITL, MMP, MMS, MPEL, MYL, NGS, NRF, NRP, NRZ, NVO, NXST, NXTM, NYT, OA, OGE, ONE, OTIV, OWW, PBH, PGNX, PLUG, PRIM, RDEN, RGEN, RICE, RSTI, RVLT, RWLK, SATS, SBH, SEAS, SFY, SGM, SNH, SPH, SRPT, SSTK, STN, SUNE, TA, TAP, TDC, TECH, TESO, THS, TK, TLP, TNK, VER, VIAB, WIN, WPP, YORW, ZEUS
Jun. 22, 2015, 4:33 PM
- GasLog Partners (NYSE:GLOP) -4.7% AH after agreeing to acquire three liquefied natural gas vessels from GasLog Ltd. (NYSE:GLOG) for $483M.
- GLOP says the acquisition is immediately accretive and consistent with its strategy to grow cash distributions for unitholders through accretive drop downs and third-party acquisitions, and estimates the vessels will generate ~$72M/year of incremental contracted revenue over their initial charter terms.
- To fund the deal, GLOP launches a public offering of 7.5M common units, with an underwriters option to purchase up to an additional 1.125M units.
GasLog Ltd. engages in the ownership, operation and management of vessels in the LNG market, providing maritime services for the transportation of LNG and LNG vessel management services. It operates its business through two segments: Vessel Ownership and Vessel Management. The Vessel Ownership... More
Country: United States
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