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PetroLogistics LP

6/18/2013, 9:09 PM ET

Quote & Headlines Market Currents StockTalk

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Tuesday, June 18, 5:00 PM PetroLogistics (PDH) says it's successfully completed repairs to its propane dehydrogenation facility and the facility has resumed propylene production. The facility was closed earlier this month for repairs on two of the eight reactors at the plant. Total costs for all completed repairs are expected to be less than $2.5M. Shares +0.7% AH. Comment! [Commodities, On the Move]
Tuesday, June 4, 6:29 PM Considering that PetroLogistics (PDH) is the only U.S. propane dehydrogenation facility producing propylene from propane, the fact that it declared a force majeure event to bring down its facility in order to repair two of eight reactors last night sounds worse than the "temporary outage" it is being labeled. The firm said that it expected the closure to last no longer than two weeks and cost about $5M and investors seem willing to wait and see; the stock dropped just 3.6% in the first full day of trading after the announcement. 1 Comment [Energy]
Wednesday, April 24, 12:10 AM Notable earnings after Wednesday’s close: AFL, AIZ, AKAM, ANGI, ARII, ARRS, ASGN, AVG, BAS, BDN, CAKE, CCI, CDNS, CLF, CLGX, CMO, CMRE, COG, CROX, CTXS, DRE, DRWI, EFX, EQIX, FFIV, FIO, FLS, GGG, INFN, ISIL, ITMN, JAH, KEX, LOGI, LPS, LRCX, LSI, MLNX, NEU, NOW, OIS, ORLY, OTEX, PDH, PMTC, QCOM, RJF, RYL, SCI, SKX, SRCL, SUSQ, SYK, TAL, TER, TEX, TQNT, TSCO, TWI, VAR, WCN, WDC, WLL, XLNX, XNPT, ZNGA 1 Comment [Earnings]
Tuesday, April 23, 5:35 PM Notable earnings after Wednesday’s close: AFL, AIZ, AKAM, ANGI, ARII, ARRS, ASGN, AVG, BAS, BDN, CAKE, CCI, CDNS, CLF, CLGX, CMO, CMRE, COG, CROX, CTXS, DRE, DRWI, EFX, EQIX, FFIV, FIO, FLS, GGG, INFN, ISIL, ITMN, JAH, KEX, LOGI, LPS, LRCX, LSI, MLNX, NEU, NOW, OIS, ORLY, OTEX, PDH, PMTC, QCOM, RJF, RYL, SCI, SKX, SRCL, SUSQ, SYK, TAL, TER, TEX, TQNT, TSCO, TWI, VAR, WCN, WDC, WLL, XLNX, XNPT, ZNGA Comment! [Earnings]
Monday, February 11, 2:21 PM Two differing opinions on PetroLogistics (PDH +0.9%): While Stifel Nicolaus cuts shares to Hold from Buy, Dahlman Rose lifts its price target to $20 from $16, citing Q4 results which benefited from an improved propane-propylene spread. Looking ahead, Rose sees tight supply-demand fundamentals continuing to support the spread and expand upside for PDH. 2 Comments [Energy, Quick Ideas]
Wednesday, February 6, 4:37 PM PetroLogistics (PDH): Q4 Adj. NI of $35.5M. Revenue of $166.1M beats by $64.86M. Shares -1.1% AH. (PR) Comment! [Earnings, Breaking News, On the Move]
Wednesday, February 6, 12:10 AM Notable earnings after Wednesday’s close: AKAM, ALL, ARAY, ARRS, ATML, ATO, BDN, CBG, CINF, CVA, CYS, DV, ENS, FMC, GHDX, GMCR, HIMX, IACI, IRBT, LF, NTES, NWSA, ORLY, OSUR, PAA, PDH, PNG, PRU, QUIK, SGMO, SRCL, TQNT, TRLA, TRLG, TSO, TWO, V, XIDE, YELP Comment! [Earnings]
Tuesday, February 5, 5:35 PM Notable earnings after Wednesday’s close: AKAM, ALL, ARAY, ARRS, ATML, ATO, BDN, CBG, CINF, CVA, CYS, DV, ENS, FMC, GHDX, GMCR, HIMX, IACI, IRBT, LF, NTES, NWSA, ORLY, OSUR, PAA, PDH, PNG, PRU, QUIK, SGMO, SRCL, TQNT, TRLA, TRLG, TSO, TWO, V, XIDE, YELP 1 Comment [Earnings]
Tuesday, January 15, 10:28 AM PetroLogistics (PDH +2.7%) is upgraded to Buy from Neutral at Citigroup, as the spread between propane and topropylene has expanded to above $0.40/lb. from an average $0.31/lb. in Q4 due to the warmer-than-average winter. The firm lifts its NTM distribution/unit to $1.70 (+$0.20) driven by higher spreads and including an estimated $0.06 hit from the recent outage. Comment! [Energy, Quick Ideas, On the Move]
Wednesday, January 2, 11:54 AM PetroLogistics (PDH +2.8%) is upgraded to Buy from Hold at Stifel Nicolaus following a review of the updated CMAI forecast for propylene and propane. The firm remains confident in PDH's ability to fix the current operational issue at its facility and meet current demand with inventory, and says the current propane-to-propylene spread forecast indicates a warmer FY13. Comment! [Energy, Quick Ideas, On the Move]
Wednesday, December 19, 2012, 3:59 PM PetroLogistics (PDH -2.4%) announced earlier that it shut its propane dehydrogenation facility in Texas for unscheduled repairs as a result of damage to a compressor; the partnership believes all repairs can be completed in three weeks at a cost of ~$2M. It is PDH's only facility, a factor IPO Candy cites in his negative view of the stock. Comment! [Energy, On the Move]
Monday, September 10, 2012, 12:27 PM PetroLogistics (PDH) is initiated with a Buy rating and a $16 price target at Dahlman Rose, which sees PDH as a "pioneer" in the trend toward on-purpose production of feedstock chemicals. At the same time, the firm expects the propane/propylene spread to widen as a result of supply compression and improving demand. Comment! [Energy, Quick Ideas]
Monday, July 30, 2012, 12:37 PM PetroLogistics (PDH +7.5%) is upgraded to Buy from Neutral at Citigroup, which believes propylene prices, which currently trade at a discount to Brent crude, will correct higher in the near term, and propane supplies remain ample due to shale gas fracking with higher propane prices not yet affecting the propylene market. Comment! [Energy, Quick Ideas, On the Move]
Wednesday, June 13, 2012, 12:29 PM PetroLogistics (PDH -3.3%) shares aren't being helped by a new Buy rating awarded by UBS, which believes "longer term, high oil prices and the North American shale gas story supports the company’s performance." Morgan Stanley starts coverage at Outperform, seeing propane staying weak through H1 2013 and propylene recovering over the next six months. Comment! [Energy, Quick Ideas, On the Move]