Seeking Alpha

American Midstream Partners, LP (AMID)

  • 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.
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  • 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.
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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.