Atlas Pipeline: As Dividend Continues, Why Is Stock Falling? [View article]
I suspect yesterday's decline was largely the result of the Citi downgrade, which was accompanied by ominous comments. "Citi Investment Research analyst John K. Tysseland cut his rating on the Moon Township, Pa.-based company to "Sell" from "Buy."
"Simply stated, as the price of crude continues to weaken the risks to Atlas Pipeline unitholders continue to mount," Tysseland said in a note to clients.
Atlas may have to cut its distribution if crude prices stay at current levels, and if they average below $60 a barrel for an extended period of time the company could violate its debt covenants, he said."
Atlas Energy Resources Merger with Atlas America Seems a Good Move [View article]
Atlas Pipeline: As Dividend Continues, Why Is Stock Falling? [View article]
"Simply stated, as the price of crude continues to weaken the risks to Atlas Pipeline unitholders continue to mount," Tysseland said in a note to clients.
Atlas may have to cut its distribution if crude prices stay at current levels, and if they average below $60 a barrel for an extended period of time the company could violate its debt covenants, he said."