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DPM vs. ETF Alternatives
Wednesday, Feb 265:03 PM|Wednesday, Feb 265:03 PM| Comment!
Monday, Oct 282013, 10:53 AM
Monday, Oct 282013, 10:53 AM| 1 Comment
- 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.
Wednesday, Sep 182013, 2:32 PM
Wednesday, Sep 182013, 2:32 PM| 8 Comments
- 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.
Tuesday, Aug 62013, 3:45 PM
Tuesday, Aug 62013, 3:45 PM| Comment!
- 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.
Tuesday, Jul 162013, 10:19 AM
Friday, Apr 262013, 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. |Friday, Apr 262013, 3:57 PM| Comment!
Thursday, Mar 12012, 5:08 PM