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Stock Market & Financial Investment News

News Breaks
December 10, 2013
08:00 EDTPAA, PAA, RGP, RGP, SUSP, SUSP, LINE, LINE, ARP, ARP, MMLP, MMLP, NGLS, NGLS, MMP, MMP, APL, APL, ACMP, ACMP, MWE, MWE, EPD, EPDWells Fargo to hold a symposium
2013 Energy Symposium is being held in New York on December 10-11 with webcasted company presentations to begin on December 10 at 8:05 am; not all company presentations may be webcasted. Webcast Link
News For EPD;MWE;ACMP;APL;MMP;NGLS;MMLP;ARP;LINE;SUSP;RGP;PAA From The Last 14 Days
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October 27, 2014
16:23 EDTMMLPONEOK Partners announces acquisition of natural gas liquids assets for $800M
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10:00 EDTNGLSOn The Fly: Analyst Upgrade Summary
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06:18 EDTNGLSTarga Resources Partners upgraded to Buy from Neutral at Goldman
Goldman upgraded Targa Resources to Buy based on well positioned assets that should lease to strong cash flow and distribution growth. Price target remains $76.
October 26, 2014
21:06 EDTACMPArmstrong, Chappel to serve as CEO, CFO respectively of merged MLP
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21:01 EDTACMPPurgason to join Williams as SVP overseeing the ACMP operations
Robert S. Purgason, current COO of the general partner of ACMP (ACMP), is expected to join Williams (WMB,WPZ) as SVP overseeing the ACMP operations. Purgason will report directly to Williamsí president and CEO Alan Armstrong. When the merger is complete, it is expected that Purgason also will serve the merged MLP as one of its general partnerís senior vice presidents, rather than as its COO.
20:56 EDTACMPWilliams to complete drop-down of remaining NGL & Petchem Services assets
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20:54 EDTACMPWilliams affirms dividend-growth guidance of approximately 15% annually
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20:50 EDTACMPWilliams, Williams Partners and Access Midstream announce merger agreement
Williams (WMB), Williams Partners (WPZ), and Access Midstream Partners (ACMP) announced that Williams Partners and Access Midstream Partners have entered into a merger agreement with an approximately $50B total transaction value. Williams owns controlling interests in the two master limited partnerships. Upon completion of the merger, expected to occur by early 2015, the merged MLP is anticipated to be one of the largest and fastest growing MLPs with expected 2015 adjusted EBITDA of approximately $5B, industry-leading 10% to 12% annual limited partner unit distribution growth rate through the 2017 guidance period and with expected strong growth beyond. Distribution coverage is expected to be at or above 1.1x or an aggregate of $1.1B through the 2017 guidance period. Cash distributions for 2015 are expected to total $3.65 per limited partner unit, up 50% and 30% over ACMPís 2014 and 2015 distribution guidance, respectively. The merged MLP expects to pay a regular cash distribution in the first quarter of 2015 in the amount of 85c per unit, up 53% over the ACMP distribution paid in the first quarter of the prior year.Prior to the completion of the merger, ACMP will effect a subdivision of its common units and each public unitholder of ACMP will receive 0.06152 additional ACMP common units for each ACMP common unit they hold. In the aggregate, the public unitholders of ACMP will receive approximately 6.3M new ACMP common units with a value of approximately $381M or approximately $3.74 per public ACMP common unit, based on the closing price of ACMP as of October 24. The 6.3M units, or approximately $381M, represents additional value for ACMP public unitholders versus the original June proposal. Williams agreed to reduce the exchange ratio it would receive in the merger to offset the approximately $3.74 of value provided to the ACMP unitholders in the subdivision of the ACMP common units. Taking into account the impact of the subdivision of the ACMP common units and the terms of the merger agreement, the ACMP conflicts committee concluded the impact of the transactions on the public ACMP unitholders represents an effective exchange ratio of approximately 0.80 ACMP common units for each WPZ common unit outstanding. The merger terms were negotiated, reviewed and approved by the conflicts committees of the boards of directors of the general partner of each partnership. Each of the ACMP Conflicts Committee and the WPZ Conflicts Committee has unanimously approved the merger, the merger agreement and the related transactions. As part of their evaluation process, the conflicts committees retained independent legal and financial advisors and each committee received a fairness opinion from its financial advisor. As a result of the merger, WPZ will become wholly owned by ACMP. The merged MLP will be named Williams Partners and will be based in Tulsa with major offices in Oklahoma City, Houston, Pittsburgh, Salt Lake City and Calgary.
October 23, 2014
17:34 EDTNGLSTarga Resources Partners increases quarterly dividend 2% to 79.75c
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16:20 EDTMMLPMartin Midstream Partners increases quarterly dividend 2.5% to 8.13c
Martin Midstream Partners announced it has declared a quarterly cash distribution of 8.13c per unit, or $3.25 per unit on an annualized basis, for the quarter ended September 30. The quarterly distribution increase is 2.5% higher than the distribution paid in the prior quarter. This increased distribution is largely attributed to the acquisition of the controlling interests in Cardinal Gas Storage LLC completed during the most recent quarter. The distribution is payable on November 14 to common unitholders of record as of the close of business on November 7. The ex-dividend date for the cash distribution is November 5.
10:01 EDTRGPOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: 3D Systems (DDD) downgraded to Hold from Buy at Brean Capital... Angie's List (ANGI) downgraded to Hold from Buy at Needham... Avalon Rare Metals (AVL) downgraded to Neutral from Buy at Citigroup... Axiall (AXLL) downgraded at Cowen... BB&T (BBT) downgraded to Neutral from Buy at Goldman... Boeing (BA) downgraded at Credit Suisse... Boulder Brands (BDBD) downgraded to Hold from Buy at Canaccord... Citrix (CTXS) downgraded to Hold from Buy at Drexel Hamilton... ClickSoftware (CKSW) downgraded to Hold from Buy at Lake Street... DTS, Inc. (DTSI) downgraded to Underweight from Neutral at JPMorgan... GulfMark Offshore (GLF) downgraded to Market Perform from Outperform at Cowen... Home Loan Servicing (HLSS) downgraded to Neutral from Buy at Compass Point... ICON plc (ICLR) downgraded to Equal Weight from Overweight at First Analysis... IPC The Hospitalist Co. (IPCM) downgraded to Market Perform at Wells Fargo... Melco Crown (MPEL) downgraded to Neutral from Buy at Nomura... Mercer (MERC) downgraded at Credit Suisse... ONEOK Partners (OKS) downgraded to Neutral from Buy at BofA/Merrill... Owens Corning (OC) downgraded to Neutral from Overweight at JPMorgan... Regency Energy Partners (RGP) downgraded to Neutral from Buy at BofA/Merrill... The Medicines Co. (MDCO) downgraded to Neutral from Buy at BofA/Merrill... Tupperware Brands (TUP) downgraded to Neutral from Overweight at JPMorgan... Union Bankshares (UBSH) downgraded at RW Baird... VOC Energy Trust (VOC) downgraded at RBC Capital... Yelp (YELP) downgraded to Hold from Buy at Stifel.
06:47 EDTRGPRegency Energy Partners downgraded to Neutral from Buy at BofA/Merrill
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October 22, 2014
16:27 EDTMWEMarkWest Energy raises FY14 DCF view to $680M-$700M
As a result of strong year-to-date operational and financial performance, the Partnership is increasing its 2014 DCF guidance to a range of $680M-$700M and 2014 Adjusted EBITDA to a range of $860M-$880M. Achieving the mid-point of these revised ranges would result in year-over-year DCF growth of 43 percent and year-over-year Adjusted EBITDA growth of 44%.
16:26 EDTMWEMarkWest Energy raises quarterly cash distribution to 89c from 85c per unit
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12:19 EDTLINEOptions with decreasing implied volatility
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09:17 EDTMMPMagellan Midstream increases quarterly distribution 4% to 66.75c
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October 21, 2014
17:13 EDTSUSPSusser Petroleum 8M share Secondary priced at $46.25
Morgan Stanley, BofA/Merrill, Barclays, Citigroup, Credit Suisse, Deutsche Bank, Goldman, Jefferies, JPMorgan, RBC Capital, UBS and Wells Fargo acted as joint book running managers for the offering.
16:16 EDTMMPMagellan Midstream extends open season for proposed Saddlehorn Pipeline
Magellan Midstream Partners announced an extension of the open season for commitments on the proposed Saddlehorn Pipeline to transport various grades of crude oil from the Niobrara shale to the partnership's storage facilities in Cushing, Oklahoma. Binding commitments are now due by Nov. 6. The proposed Saddlehorn Pipeline includes construction of an approximate 600-mile, 20-inch diameter pipeline capable of transporting up to 400,000 barrels per day of crude oil from Platteville, Colorado to Magellan's storage facilities in Cushing. Magellan expects to use its existing right-of-way for a significant portion of the pipeline route. Subject to sufficient commitments from shippers and receipt of any necessary permits and regulatory approvals, the Saddlehorn Pipeline could be operational during 2Q16.
07:23 EDTSUSPSusser Petroleum files to sell 8M common units
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October 17, 2014
18:14 EDTEPDEnterprise Products extends open season for Bakken-to-Cushing pipeline
Enterprise Products Partners announced that the binding open commitment period to determine shipper demand for capacity on a proposed new crude oil pipeline from the Williston Basin of North Dakota to the Cushing hub in Oklahoma has been extended until 5 p.m. CST, November 14.
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