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Stock Market & Financial Investment News

News For EPD;MWE;DKL;SXE;LGCY;NMM;KMP;RGP;APL;VNR From The Last 14 Days
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April 23, 2015
09:20 EDTNMMNavios Maritime Partners announces delivery of 13,100 TEU container vessel
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08:46 EDTNMMNavios Maritime, Navios Acquisition, Navios Maritime Partners acquire 14 vessels
Navios Maritime (NM), Navios Maritime Acquisition (NNA) and Navios Maritime Partners (NMM) have executed a binding letter of intent to acquire 14 vessels from debtors of HSH Nordbank AG through a new joint venture. The 14 vessels include seven dry bulkers and seven container vessels with an average age of approximately 4 years. The transaction is expected to close in Q2. The Navios JV will not be consolidated into any of the Navios public entities. The transaction is still subject to certain conditions, and no assurance can be provided that the transaction will be concluded as contemplated, if at all. Navios estimates the purchase price to be paid to HSH will consist of cash and the assumption of a Subordinated HSH Participating Loan.
April 22, 2015
20:00 EDTMWEMarkWest Energy raises Q1 distribution by 1c to 91c per unit
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April 21, 2015
17:02 EDTDKLDelek Logistics increases dividend 3.9% to 53c
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06:39 EDTVNRVanguard Natural to host conference call
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05:07 EDTVNRVanguard Natural to acquire LRR Energy for $539M
Vanguard Natural (VNR) and LRR Energy (LRE) announced that they have entered into a Purchase Agreement and Plan of Merger pursuant to which a subsidiary of Vanguard will merge into LRR Energy and, at the same time, Vanguard will acquire LRE GP, the general partner of LRR Energy, for total consideration of $251M in Vanguard common units and the assumption of LRE’s net debt of $288M. As a result of the transaction, LRR Energy and its general partner will become wholly owned subsidiaries of Vanguard. The transaction, which has been approved by the boards of both companies, including the Conflicts Committee of the board of LRR Energy, will be a tax-free unit-for-unit transaction with an exchange ratio of 0.55 Vanguard common units per LRE common unit. In addition, Vanguard will acquire all of the limited liability company interests in LRE GP in exchange for 12,320 Vanguard common units. The consideration to be received by LRE unitholders is valued at $8.93 per LRR Energy common unit based on Vanguard’s closing price as of April 20, representing a 13% premium to LRR Energy’s closing price on April 20, and a 19% premium to LRR Energy’s ten day volume weighted average price. Vanguard and LRR Energy expect the transaction to close in Q3. The merger is subject to customary closing conditions, including the approval of the LRR Energy unitholders. Affiliates of Lime Rock Resources, LRE’s largest unitholder, have agreed to support and vote in favor of the transaction. Upon the closing of the transaction, LRR Energy will be terminating the existing management services agreement with Lime Rock Management and Lime Rock Resources Operating Company. Offset by incremental corporate hires, Vanguard expects to generate significant general and administrative expense savings. Vanguard expects that the transaction will be immediately accretive to distributable cash flow per unit while also lowering Vanguard’s pro forma debt leverage.
April 13, 2015
10:00 EDTMWEOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Barnes & Noble (BKS) initiated with a Buy at Craig-Hallum... Calgon Carbon (CCC) initiated with a Buy at Roth Capital... CenterPoint Energy (CNP) initiated with a Neutral at Goldman... Compass Diversified (CODI) initiated with an Outperform at William Blair... DTE Energy (DTE) initiated with a Neutral at Goldman... Goldman Sachs BDC (GSBD) initiated with an Outperform at Wells Fargo... Green Bancorp (GNBC) initiated with a Buy at SunTrust... Hilltop Holdings (HTH) initiated with a Buy at SunTrust... ITC Holdings (ITC) initiated with a Sell at Goldman... Independent Bank (IBTX) initiated with a Neutral at SunTrust... LegacyTexas Financial (LTXB) initiated with a Buy at SunTrust... MarkWest Energy (MWE) initiated with a Buy at Ladenburg... Medgenics (MDGN) initiated with an Outperform at JMP Securities... National Commerce (NCOM) initiated with an Outperform at Keefe Bruyette... OGE Energy (OGE) initiated with a Neutral at Goldman... Owens Corning (OC) initiated with a Hold at Evercore ISI... Southside Bancshares (SBSI) initiated with a Neutral at SunTrust... Zogenix (ZGNX) initiated with a Buy at Empire.
07:13 EDTEPDWells Fargo to hold a conference
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07:04 EDTMWEMarkWest Energy initiated with a Buy at Ladenburg
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