ArcLight Capital Buys NGL's TLPGP - What It Means For Units Of Transmontaigne Partners LP
Michael Fitzsimmons • 27 Comments
Michael Fitzsimmons • 27 Comments
TransMontaigne Partners: Midstream MLP Yields A Secure 8.6% With Imminent Growth Levers
Michael Fitzsimmons • 45 Comments
Michael Fitzsimmons • 45 Comments
Tue, Aug. 9, 8:34 AM
Mon, Aug. 8, 5:30 PM
- ACM, AER, AMAG, AMRC, AMSC, ARES, BDSI, BERY, BITA, BR, CECE, CHTR, CNK, COH, CORE, EGRX, ENZY, EVEP, EXC, GLPI, GWPH, HCP, HHS, HPT, HRI, HWCC, INCY, IONS, IPXL, JEC, LABL, LAMR, LGIH, LNCE, LNG, LRN, LXP, MCC, MPAA, MWW, NCLH, NCT, NRG, NXST, NYLD, OCUL, PDCE, PMC, PPL, RDNT, RRGB, RSTI, SATS, SNI, SSH, STE, TDG, TESO, TGH, TLP, TRCO, UNVR, VRTU, VRX, W, WAC, WPRT, WWAV, ZBRA
Mon, Jul. 18, 8:35 AM
Thu, May 5, 12:49 PM
- Magellan Midstream Partners (MMP -0.8%) is downgraded to Hold from Buy at Stifel on valuation following Q1 earnings and higher guidance for 2016 distributable cash flow.
- The firm took note of news of a refined products pipeline project for ultimate delivery to Mexico, to be built with TransMontaigne Partners (TLP +0.4%); while a number of similar projects are proposed, the firm believes MMP and TLP have a competitive advantage given their terminaling locations and ability to finance the projects, thanks to their strong balance sheets.
- Stifel also says that while MMP's 2016 guidance was modestly lighter than it had expected, the company's stable cash flow is apparent regardless of commodity prices.
Thu, May 5, 8:28 AM
Wed, May 4, 5:30 PM
- AAC, AAON, AAWW, ABC, ACIW, ACRE, ACTA, AGIO, AMCX, AMRC, AMRN, ANIP, ANSS, APA, APO, AVP, AXLL, BABA, BCRX, BDX, BR, CBB, CCC, CCOI, CDK, CHD, CHK, CLDT, CNAT, CNNX, CNSL, COT, CVC, CWEI, DDD, DIN, DISCA, DNR, EAC, ENOC, EPAM, ESNT, EVA, FIG, FLDM, G, GCAP, GWPH, HII, HL, HWCC, ICON, IT, ITG, ITT, JEC, JMBA, K, LAMR, LFUS, LINC, LIOX, LMOS, LQDT, LXP, MBLY, MDC, MFC, MGA, MGLN, MGM, MITL, MLM, MMS, MRK, MWW, NICE, NILE, NRG, NTCT, NYLD, OGE, ONE, OXY, PGNX, PGTI, PRFT, PRIM, PWR, RDEN, RDUS, REGN, RFP, RGEN, RLGY, RSTI, RWLK, SBH, SEAS, SFM, SHLX, SNH, SNI, SNR, SNSS, SPH, SQBG, STOR, TDC, TDY, TE, THS, TIME, TLP, TWI, UNT, USAC, USAK, USCR, VER, VG, VLP, WIN, WPC, WRLD
Mon, Apr. 18, 8:36 AM
Mon, Apr. 4, 3:17 PM
- Magellan Midstream Partners (MMP -2.9%) is downgraded to Hold from Buy with a $68 price target at Wunderlich, which says that, despite its ability to grow profits and distributions to shareholders, it does not see much room for upside in the shares.
- The firm says it is encouraged by MMP's outlook to generate more EBITDA from existing assets, but while the company needs only $300M-$500M annual capex to achieve 8%-10% distribution growth and growth opportunities remain, the figures already were mostly factored into its expectations
- Separately, MMP and TransMontaigne Partners (TLP +0.7%) say they are jointly assessing a 150-mile diameter pipeline capable of moving 150K bbl/day of refined products.
- Now read Credit Suisse downgrades 12 MLPs as rally plays out
Mon, Mar. 14, 12:13 PM
- Nasdaq is making annual changes to its U.S. Broad Dividend Achievers Index, adding AFG, AMP, ATRI, BOBE, BOKF, CMI, CNP, CTWS, DAKT, GK, ISCA, MNRO, NHC, NWE, OKS, SRCE, STE, STON, SXT, THG, TLP, TMK, and TRV.
- To be dropped: ARG, COP, DRI, NC, STR, THFF, VSEC, WMB.
- The index is comprised of stocks with at least ten straight years of boosting annual dividend payments, and is tracked by the Vanguard Dividend Appreciation ETF (NYSEARCA:VIG).
- The changes become effective ahead of the open on March 21.
- Source: Press release
Thu, Mar. 10, 8:31 AM
Wed, Mar. 9, 5:30 PM
Tue, Mar. 8, 5:17 PM
- A U.S. bankruptcy judge says Sabine Oil & Gas (OTCPK:SOGCQ) can reject contracts with midstream companies it made before oil and gas prices plunged.
- But the judge says her ruling is not binding, potentially setting the stage for another legal battle over the pipeline operators' argument that the agreements cannot be broken because they are inextricably tied to the land on which Sabine operates.
- The ruling covers agreements with two companies, including an affiliate of Cheniere Energy (NYSEMKT:LNG), that gather natural gas for Sabine in specific geographic locations; Sabine has said that rejecting the contracts could save as much as $115M for the bankruptcy estate.
- Restructuring and energy experts have warned that a loss for Sabine's pipeline operators could inspire other bankrupt oil and gas producers to seek similar relief, spreading the distress that has plagued them to the midstream companies that process and transport oil and natural gas.
- Similar requests are pending in the chapter 11 cases of companies including Quicksilver Resources (OTCPK:KWKAQ) and Magnum Hunter Resources (OTCPK:MHRCQ); a Delaware judge is expected to rule on KWK's request by the end of the month.
- Pipeline stocks include: KMI, ENB, EEP, SE, SEP, WMB, ETE, ETP, OKS, PAA, PBA, MMP, CQP, BWP, BPL, WES, SXL, NS, NSH, TCP, NGL, DPM, GEL, HEP, APL, SEMG, TLLP, MMLP, TLP, SGU, BKEP
Tue, Jan. 19, 8:31 AM
- TransMontaigne Partners (NYSE:TLP) declares $0.67/share quarterly dividend, 0.8% increase from prior dividend of $0.665.
- Forward yield 9.46%
- Payable Feb. 8; for shareholders of record Jan. 29; ex-div Jan. 27.
Fri, Jan. 8, 4:49 PM
- NGL Energy Partners (NYSE:NGL) soared 46% in today's trade, sparked by this morning's $350M sale of its TransMontaigne GP (NYSE:TLP) asset to an affiliate of energy-focused P-E firm ArcLight Capital Partners; TLP finished with a 7.2% gain.
- NGL will use the cash to repay its revolving credit line, and the move should allow it to fund capital needs and forestall issuing more debt or equity.
- Jay Hatfield, portfolio manager of the InfraCap MLP ETF, tells Barron's the deal likely is just the start of P-E purchases of MLP assets or companies, as "the undervaluation of assets is profound and will eventually be arbitraged."
- ArcLight also helped American Midstream Partners (NYSE:AMID) last month with a $75M purchase program for its units; AMID rose 6.3% today.
- 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, IMLP
Fri, Jan. 8, 8:21 AM
- NGL Energy Partners (NYSE:NGL) agrees to sell TransMontaigne GP, the general partner of TransMontaigne Partners (NYSE:TLP), to ArcLight Capital Partners for $350M.
- NGL says the net proceeds from the deal will significantly reduce leverage and increase liquidity, and could reduce leverage further through the sale of the ~3.2M TLP common units it retains.
- NGL also says the deal positions it to complete its growth projects, bridge to the Grand Mesa pipeline in-service date and continue paying its $2.56 annual common unit distribution.
Nov. 5, 2015, 8:19 AM
- TransMontaigne Partners (NYSE:TLP): Q3 EPS of $0.37 misses by $0.17.
- Revenue of $37.3M (+4.5% Y/Y) misses by $1.02M.
TransMontaigne Partners LP provides integrated terminaling, storage, transportation and related services for customers engages in the distribution and marketing of petroleum products, crude oil, chemicals, fertilizers and other liquid products. The company operates its business through following... More
Sector: Basic Materials
Industry: Oil & Gas Pipelines
Country: United States