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American Midstream Partners, LP (AMID)

  • Mon, May 11, 4:24 PM
    • American Midstream Partners (NYSE:AMID): Q1 EPS of -$0.19 misses by $0.41.
    • Revenue of $64.61M (-19.5% Y/Y) misses by $57.9M.
    • Press Release
    | Comment!
  • Mon, Mar. 9, 10:35 PM
    • American Midstream Partners (NYSE:AMID): Q4 EPS of -$4.98 may not be comparable to consensus of $0.10.
    • Revenue of $80.17M (+4.4% Y/Y) misses by $64.34M.
    • Press Release
    | Comment!
  • Thu, Jan. 22, 4:57 PM
    • American Midstream Partners (NYSE:AMID) declares $0.4725/share quarterly dividend, in line with previous.
    • Forward yield 10.62%
    • Payable Feb. 13; for shareholders of record Feb. 6; ex-div Feb. 4.
    | Comment!
  • Thu, Jan. 22, 4:40 PM
    • American Midstream Partners (NYSE:AMID) says it expects 2014 adjusted EBITDA to come in at the low end of its guidance range of $46M-$48M and sees Q4 and FY 2014 distribution coverage of ~1.2x and ~1x, respectively.
    • Says its Q4 distribution is unchanged from Q3 and expects to sustain its current distribution level through 2015, including the impact of the recent decreases in commodity prices.
    | Comment!
  • Tue, Jan. 13, 12:59 PM
    • American Midstream Partners (AMID -0.8%) is initiated with a Buy rating and a $23 price target at Wunderlich, which sees Eagle Ford production, growth in its fee-based transmission and terminals segments, and dropdowns from its general partner driving a five-year 5.8% distribution compound annual growth rate.
    • The firm adds that minimal natural gas liquids hedges (3% of H1 2015 exposure) and collapsing crude prices could make achieving its targeted 8%-10% distribution growth rate challenging in 2015.
    | Comment!
  • Dec. 11, 2014, 6:45 PM
    • A new BofA Merrill Lynch research report makes the case that this January’s returns for MLPs could be better than usual after the group's recent selling and underperformance this year.
    • The analysts say sector laggards have a snapback ability in January because of tax-loss selling, no buyers committing new funds at the end of the year in an ability to avoid a K-1 being generated, and buyers stepping in before the MLPs go ex-distribution in February; they add that laggards from the prior two-month periods typically enjoy a bigger January than full-year laggards.
    • The four MLPs rated Buy that have severely underperformed this month and last which Merrill says could show big gains in January are AMID, DKL, NGLS, CEQP.
  • Nov. 10, 2014, 4:13 PM
    • American Midstream Partners (NYSE:AMID): Q3 EPS of -$0.58 misses by $0.45.
    • Revenue of $70.3M (-9.3% Y/Y) misses by $30.43M.
    • Press Release
    | Comment!
  • Oct. 14, 2014, 2:02 PM
    • American Midstream Partners (NYSE:AMID) agrees to acquire Costar Midstream for ~$470M in cash and stock, a deal the company says will add a significant presence in East Texas, the Permian, and the Bakken plays.
    • In addition, AMID says it plans to invest $70M-$80M over the next 12-18 months to complete Bakken, Longview rail, and Permian off-spec condensate blending development projects.
    • Raises guidance for Q3 adjusted EBITDA to $46M-$48M from $42M-$45M and distributable cash flow guidance to $30M-$32M from $27M-$30M.
    • Expects to raise quarterly distribution by 3%-5% beginning with the Q1 2015 distribution payable in May 2015.
    • Shares have been halted for most of the day.
    | Comment!
  • Aug. 19, 2014, 2:17 PM
    • American Midstream Partners (AMID +0.8%) turns higher after pricing a scaled-down private placement of 4.6M equity units at $26.09 each, a 12% discount to Monday's closing price for the stock.
    • AMID says it plans to use the $120M in gross proceeds to repay the $115M in debt borrowed through its revolving credit facility to complete its acquisition of natural gas processing and gathering assets from DCP Midstream.
    • Prior to the acquisition closing, one of DCP's customers said it was moving its production from Mobile Bay and Dauphin Island in the Gulf of Mexico, reducing the value of the acquired assets; the companies then amended the purchase price, and AMID cut the size of its stock offering from its original $200M.
    | Comment!
  • Aug. 11, 2014, 5:10 PM
    • American Midstream Partners (NYSE:AMID): Q2 EPS of -$0.55.
    • Revenue of $77.68M (+0.6% Y/Y).
    • Press Release
    | Comment!
  • Jul. 15, 2014, 7:58 AM
    • American Midstream Partners (NYSE:AMID) agrees to acquire entities holding onshore natural gas processing and offshore natural gas gathering and transportation and oil gathering assets from DCP Midstream (NYSE:DPM) for $115M.
    • The assets to be acquired include the Mobile Bay gas processing plant, Dauphin Island gathering and transmission system, and DCPs interest in the Main Pass Oil Gathering System, which AMID says collectively provide strong cash flow visibility and a growing, high-quality customer base.
    • To fund the deal, AMID plans to sell $200M of its common units in a private placement.
    | Comment!
  • May 12, 2014, 6:29 PM
    • American Midstream (AMID): Q1 EPS of -$0.31 misses by $0.06.
    • Revenue of $75.97M misses by $13.06M.
    • Press Release
    | Comment!
  • Apr. 9, 2014, 3:32 PM
    • American Midstream Partners (AMID +2.5%) is initiated with an Overweight rating and $29 price target at Barclays, which likes the series of large, strategic and ultimately transformational changes the company has executed over the past 12 months that improve its financial and strategic stability and position.
    • Completed acquisitions and drops have successfully diversified AMID into liquids storage and established its gathering footprint in the Eagle Ford shale, the firm says.
    | Comment!
  • Jan. 22, 2014, 4:40 PM
    • American Midstream Partners (AMID) agrees to acquire a ~120-mile natural gas gathering and redelivery system in the Eagle Ford shale from a subsidiary of Penn Virginia (PVA) for ~$100M.
    • Upon closing the acquisition, AMID also will enter into a long-term, fee-based gathering agreement where PVA will dedicate for 25 years all current and future natural gas production from the areas served by the system.
    • To help pay for the deal, AMID announces a public offering of 3.4M of its common units.
    | Comment!
  • Dec. 10, 2013, 4:31 PM
    • American Midstream Partners (AMID) -4.3% AH after agreeing to acquire Blackwater Midstream, a developer and operator of terminal storage facilities, from an affiliate of ArcLight Capital for $60M.
    • The acquisition includes Blackwater's three operating terminals, which have 1.3M barrels of storage capacity for a variety of products including chemical, agricultural and petroleum liquid products; the revenues are fee-based and almost entirely derived from take-or-pay lease contracts.
    • To fund the deal, AMID will launch a public offering of 2.4M common units.
    | Comment!
  • Oct. 25, 2013, 9:44 AM
    • American Midstream Partners, LP (AMID) declares quarterly distribution of $0.4525/share, 4.6% increase from prior dividend of $0.4325.
    • Forward yield 8.20%.
    • For shareholders of record Nov. 7 ; Payable Nov. 14; Ex-div date Nov . 5.
    | Comment!
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Company Description
American Midstream Partners LP owns, operates, develops and acquires a portfolio of natural gas midstream energy assets The Company is engaged in the business of gathering, treating, processing, fractionating and transporting.