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TLLP vs. ETF Alternatives
Tesoro Logistics LP owns, operates, develops, and acquires assets involving oil and petroleum products. The company is based in San Antonio, Texas. Tesoro Logistics LP operates as a subsidiary of Tesoro Corporation. More
Monday, Nov 185:37 PM
Monday, Nov 184:35 PMTesoro Logisitcs acquires Los Angeles assets for $650M, offers 6.3M units
Monday, Nov 184:35 PM| Comment!
- Tesoro Logisitcs (TLLP) agrees to acquire Tesoro's (TSO) Los Angeles Logistics Assets, consisting of two marine terminals, a marine storage terminal, a products terminal, a petroleum coke handling and storage facility, more than 100 miles of active crude oil and refined products pipelines, and other related properties, for $650M.
- To pay for the deal, TLLP announces a public offering of 6.3M common units.
- Shares -3.6% AH.
Thursday, Oct 103:45 PMTesoro Logistics pipeline spills 20K barrels in North Dakota
Thursday, Oct 103:45 PM| Comment!
- A Tesoro Logistics (TLLP -1.5%) crude pipeline spilled ~20K barrels of oil in a rural field in North Dakota, in what appears to be the largest spill in the Bakken shale formation to date.
- The spill has been contained and has caused no injuries or known effects on water or wildlife, TLLP says; the company estimates clean-up will cost ~$4M but doesn't know how long it will take to make repairs.
Wednesday, Sep 182:32 PMEnergy MLPs pop on Fed no-taper news
Wednesday, Sep 182:32 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.
Wednesday, Sep 410:48 AMOppenheimer restarts coverage of energy MLPs
Wednesday, Sep 410:48 AM| Comment!
- Oppenheimer restarts coverage of energy MLPs, bullish on the asset class as a whole; the firm shows a bias in favor of investing in higher distribution growth, even if the yields are lower, and for owning general partners due to their incentive distribution rights structure.
- Started at Outperform: EQT Midstream (EQM +2.1%), Seadrill Partners (SDLP +0.7%), Tesoro Logistics (TLLP +1.6%), Memorial Production Partners (MEMP +2.4%), Western Gas Partners (WES +0.4%), Western Gas Equity Partners (WGP +0.7%).
- Started at Market Perform: Williams Partners (WPZ), Crosstex Energy (XTEX), ONEOK Partners (OKS), Genesis Energy (GEL).
- Also: New Source Energy (NSLP), Breitbrun Energy Partners (BBEP), LRR Energy (LRE), Mid-Con Energy Partners (MCEP).
Friday, May 172:21 PMTesoro (TSO +5.3%) says the FTC approved its purchase of BP's 240K bbl/day Carson, Calif., refinery and other assets. The commission found the deal would not substantially lessen competition among seven refiners for gasoline in California, the largest U.S. gasoline market. Tesoro Logistics (TLLP +3.5%) will acquire the first portion of Carson logistics assets from TSO for $640M. |Friday, May 172:21 PM| Comment!
Wednesday, Mar 1312:54 PMCredit Suisse grows more selective on MLPs, citing four whose valuations it thinks have grown excessive. El Paso Pipeline (EPB -1.9%) is cut to Neutral, as the firm sees decelerating distribution growth as drop-downs associated with the acquisition of El Paso Corp. by Kinder Morgan are absorbed. TLLP and EQM also are lowered, but CVR Refining (CVRR +1.9%) is raised to Outperform. |Wednesday, Mar 1312:54 PM| Comment!
Wednesday, Mar 1310:09 AMTesoro Logistics (TLLP -4.8%) is downgraded to Neutral at both BAML and Credit Suisse on valuation. "With a current yield of 3.1% vs. an average MLP sector yield of 6% and Tuesday's relative performance due to the addition of TLLP to the Alerian MLP Index, we now see TLLP as fairly valued," BAML writes. |Wednesday, Mar 1310:09 AM| Comment!
Monday, Jan 74:49 PM
Monday, Jan 72:58 PMTesoro (TSO -5.3%) amends a credit pact to allow for as much as $4B in borrowings under a revolver that has a current capacity of $1.85B. Its Tesoro Logistics (TLLP -2.2%) subsidiary also boosts a credit line to $500M from $300M, with the ability to increase borrowings to $650M. Howard Weil cuts TSO shares, along with Phillips 66 (PSX -3.2%), Valero (VLO -2.9%) and other refiners. |Monday, Jan 72:58 PM| Comment!
Monday, Oct 12012, 6:14 PM
Monday, Aug 132012, 2:17 PMTesoro's (TSO +9.2%) $2.5B purchase of BP's California refinery looks cheap: at ~15% of its replacement value vs. the industry norm of 25%-30% after factoring in plans to sell certain assets in the deal to its MLP (TLLP), a consultant tells Bloomberg. Analysts say refiners like TSO have more upside given the discount available to buyers of U.S. crude, which still trades well below Brent crude. |Monday, Aug 132012, 2:17 PM| Comment!
Wednesday, Jun 12011, 3:24 PMCitigroup joins the buying bandwagon for Tesoro Logistics (TLLP +2.1%); the stock has gained nearly 10% over the last three sessions as a host of brokers initiate similar coverage (I, II, III). As the storage and pipeline provider to Tesoro, and the MLP projecting a current yield of 5.5%, it's not difficult to see why. |Wednesday, Jun 12011, 3:24 PM| 1 Comment
Wednesday, Apr 202011, 9:55 AM
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joeg1969:: Wow, thats almost as good as hitting the lotto!