Teekay LNG Partners, L.P. - Expensive At Current Prices?
Andres Rueda • 19 Comments
Andres Rueda • 19 Comments
Buy Teekay LNG Partners For LNG Growth And 6.4% Yield
The Outsider • 34 Comments
The Outsider • 34 Comments
Fri, Jul. 1, 7:09 AM
Sun, Jun. 26, 6:35 AM
- Panama officially opens an addition to its legendary sea canal today, capping a nine-year, $5.4B expansion project that will double shipping capacity and affect global trade routes.
- A third lane has been added to the waterway that can accommodate a new generation of super cargo ships large enough to carry up to 14K containers, compared with around 5K currently.
- Check out a time-lapse video of the construction here
- Related tickers: MATX, KEX, CMRE, SSW, DAC, NMM, SINO, SB, DCIX, GOGL, ALEX, DAC, GSL, ESEA, EURN, NAT, OSGB, TGP
Tue, May 31, 12:41 PM
- Teekay (TK +4.2%) “continues to enjoy strong support from its lenders and its major shareholder that are willing to provide additional capital to deal with the funding gap" from its $4.6B capex, Morgan Stanley says as it maintains its Equal Weight rating on the stock while raising its price target to $8 from $7.
- Stanley says Teekay Offshore Partners (TOO +4%) is close to completing its capitalization plan, which is expected to improve liquidity while deferring any funding gap to after 2017, while the funding gap for Teekay LNG Partners (TGP +1.2%) appears to be narrowing, with management expecting high newbuild financing.
- However, the firm also notes that TOO continues to have the highest exposure in the group to high dilution risk, given its expiring offshore contracts, large debt maturities and aging assets.
Thu, May 19, 5:21 AM
Fri, Apr. 1, 7:07 AM
Thu, Feb. 18, 6:48 AM
Wed, Jan. 20, 8:22 AM
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, 6:57 PM
- Energy MLPs sustained more punishment today as crude oil prices tumbled below $35/bbl and credit rating agencies teed up more energy companies for possible downgrades; today's dividend cut from Teekay LNG Partners (NYSE:TGP), which echoed Kinder Morgan's earlier cut, surely contributed to the drop.
- The Alerian MLP ETF (NYSEARCA:AMLP), which tracks the benchmark index, fell another 2.5% in today's trade, sending its YTD losses past 40%.
- Research firm Valuentum, which is critical of the MLP structure because of its reliance on new infusions of growth capital to make lofty payouts to investors, believes TGP is one of many more MLPs that will be forced to cut distributions; it points to Energy Transfer Equity (NYSE:ETE) and Plains All American (NYSE:PAA) as prominent candidates for cuts.
- Among today's decliners: KMI -3.5%, ETE -9.5%, ETP -6.2%, EPD -1.5%, PAA -2.7%, PAGP -6.3%, WMB -8.2%, WPZ -6.3%, OKE -4.9%, OKS -0.9%, MMP -2.8%, SEP -0.5%, EEP -1.5%, SXL -2.2%, BPL -0.6%, TGP -51.1%.
- 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. 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%.
Dec. 17, 2015, 9:56 AM
- Teekay Corp. (TK -52.2%), Teekay Offshore (TOO -41.4%) and Teekay LNG Partners (TGP -46.3%) are crushed at the open, triggering a circuit breaker halt on the moves after announcing plans to dramatically lower dividend and distribution payouts.
- The dividend at the TK parent, which is supported primarily by the limited partner and general partner cash flows at the underlying MLPs, is being cut by 90%; TK indicated that cuts were partly in response to upcoming bond maturities, suggesting difficulty in getting funding in that market.
- TK is hit with at least three downgrades so far, and TOO has received at least two.
Dec. 17, 2015, 9:20 AM
Dec. 17, 2015, 7:42 AM
- Teekay Corp. (NYSE:TK), Teekay Offshore (NYSE:TOO) and Teekay LNG Partners (NYSE:TGP) all announce dividend/distribution cuts, citing their need to use a significant portion of their internally generated cash flow to fund the equity capital requirements of future profitable growth projects and reduce debt levels.
- TK reduces its quarterly dividend to $0.055/share from $0.55 in Q3, TOO cuts its quarterly distribution to $0.11/unit from $0.56 in Q3, and TGP says it is lowering its distributions to $0.14/unit from $0.70 in Q3.
- RBC Capital downgrades TK to Sector Perform from Outperform and lowers its price target to $16 from $52, as difficult but necessary distribution cuts put the company in a holding pattern for foreseeable future; the firm also lowers its price targets for TOO to $11 from $20 and TGP to $23 from $29.
Dec. 17, 2015, 7:41 AM
- Teekay LNG Partners (NYSE:TGP) announced a 80% cut in its quarterly dividend to $0.14/share ($0.56 annually) from the current $0.70, commencing from 4Q15.
- TGP expects to use a significant portion of its cash flow to fund equity capital requirements on its future profitable growth projects, reduce debt levels, and eliminate the need to access the equity capital markets for the foreseeable future.
- "Despite significant weakness in the global energy and capital markets, Teekay LNG's businesses remain strong" commented CEO Peter Evensen.
Dec. 2, 2015, 12:58 PM
- A consortium led by Teekay LNG Partners (TGP, TK) have been awarded a deal to develop a liquefied natural gas receiving and regasification terminal in Bahrain.
- The project is planned to have a capacity of 800M cf/day and will be owned and operated under a 20-year agreement starting in mid-2018.
- The project's value is not provided.
Teekay LNG Partners LP provides marine transportation services for liquefied natural gas, liquefied petroleum gas and crude oil. The company operates through two segments: Liquefied Gas and Conventional Tanker. The Liquefied Gas segment consists of liquefied natural gas and liquefied petroleum... More
Sector: Basic Materials
Industry: Oil & Gas Equipment & Services
Country: United States
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