Nov. 28, 2014, 10:20 AM| 17 Comments
Feb. 26, 2014, 5:03 PM| Comment!
Oct. 28, 2013, 10:53 AM
- Sandell Asset Management is urging Spectra Energy (SE +0.3%) to present to the market a road map for value creation by the end of the year, Reuters reports.
- One way to unlock shareholder value, the activist investor says, is to swap its 50% interest in DCP Midstream Partners (DPM -0.2%) for equity in Phillips 66's MLP (PSXP +3%) in a deal that could improve the valuation of both companies.
- Sandell reportedly said in an Oct. 2 letter that it believes DCP's assets are a better fit with Phillips 66 Partners; it had pressed SE for changes in a June letter, when it said it believes SE is undervalued and should trade at ~$48//share.
Sep. 18, 2013, 2:32 PM
- Energy MLPs are spiking higher after the Fed decides not to taper, ensuring a longer period of lower-cost capital: KMP +2.9%, KMI +4.1%, ETP +2.1%, WPZ +1.2%, WMB +1.1%, EPD +1.9%, PAA +1.2%, EEP +1.3%, MWE +3.1%, MMP +2.4%, ACMP +2.9%, APL +1.8%, DPM +2.4%, SXL +1.5%, BPL +1.1%, PBA +2.3%, TLLP +1.7%.
- Relevant ETFs: AMJ, AMLP, MLPG, MLPI, MLPN, MLPY, MLPL, MLPW, MLPS, YMLP, MLPA, EMLP, AMU, IMLP, MLPJ, ATMP, YMLI.
Aug. 6, 2013, 3:45 PM
- Spectra Energy (SE -1.6%) rejects calls from activist shareholder Sandell to sell or spin off its western Canadian pipelines or its stake in DCP Midstream (DPM); selling shares in the Canadian unit would create tax problems and DCP’s rising cash flow will boost SE’s stock price, CEO Greg Ebel says.
- Sandell said last month it considered a sale of assets to the partnership - which SE valued today at ~$9.68B - about a third of its plan for Spectra.
Jul. 16, 2013, 10:19 AM
Apr. 26, 2013, 3:57 PMCredit Suisse upgrades EQT Midstream Partners (EQM +4.7%) to Outperform after issuing Q1 results well ahead of the firm's expectations and increasing its FY 2013 guidance on EBITDA and distribution cash flow, and cuts Exterran Partners (EXLP) and DCP Midstream (DPM) on valuation (I, II). EQM is enjoying higher throughput on its assets as Marcellus shale activity remains robust. | Comment!
Mar. 1, 2012, 5:08 PM
DPM vs. ETF Alternatives
DCP Midstream Partners LP along with its subsidiaries is engaged gathering, compressing, treating, processing, transporting, storing and selling natural gas; NGLs and condensate; and transporting, storing and selling propane in wholesale markets.
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