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Stock Market & Financial Investment News

News Breaks
March 3, 2014
04:55 EDTMPLX, MPLX, MPLX, CQP, CQP, CQP, NSH, NSH, NSH, RRMS, RRMS, RRMS, SEMG, SEMG, SEMG, SMLP, SMLP, SMLP, STR, STR, STR, FE, FE, FE, AEP, AEP, AEPMorgan Stanley to hold a conference
MLP and Diversifed NG Corp Access Day is being held in New York on March 3-5.
News For MPLX;CQP;NSH;RRMS;SEMG;SMLP;STR;FE;AEP From The Last 14 Days
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January 30, 2015
08:53 EDTNSHNuStar GP Holdings reports Q4 EPS 34c, consensus 38c
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January 29, 2015
09:22 EDTSEMGIridian Asset reports 5.2% passive stake in SemGroup
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January 28, 2015
09:15 EDTAEPOn The Fly: Pre-market Movers
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07:00 EDTAEPAmerican Electric backs FY15 EPS view of $3.40-$3.60, consensus $3.53
06:59 EDTAEPAmerican Electric reports Q4 operating EPS 48c, consensus 50c
Reports Q4 revenue $4B, consensus $4.22B.
January 27, 2015
15:35 EDTAEPNotable companies reporting before tomorrow's open
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January 26, 2015
16:16 EDTSEMGSemGroup says board will 'carefully consider' letter from Sandell
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11:21 EDTSEMGSemGroup higher after Sandell urges company to explore strategic alternatives
Earlier today, Sandell Asset Management, a shareholder of SemGroup Corporation, announced it had publicly released a letter to the Board of Directors of the company requesting that the Board review strategic alternatives including the exploration of the sale of SEMG, "in light of what, we believe, is a gross undervaluation of the company’s shares in the public market and growing M&A activity in the sector." Tom Sandell, CEO of Sandell, stated: “Although we believe management and the Board of SemGroup have been respectable stewards of the company over the past few years, we simply believe that in this environment the best outcome for shareholders is for the company to sell itself. As long time investors in the North American energy infrastructure industry and SEMG’s shares, we firmly believe there are a number of potential acquirers for the entire company at significant premiums to current trading levels given its highly valued asset base and pipeline of exciting growth opportunities.” Mr. Sandell continued, “Our analysis has led us to conclude that this market environment, driven by extreme energy price volatility, has disproportionately affected SEMG’s share price due to its smaller equity market capitalization, lower liquidity profile and unwieldy mix of assets...We believe that this adverse dynamic will persist for longer than most expect given the seismic changes occurring in global energy markets.” Mr. Sandell added, “In our view, given the availability of cheap debt and equity capital, a takeout price of up to $104/share for SEMG would easily be justified. This price would yield modest accretion to cash available to pay dividends in Year 1 for the acquirer, and provide significant upside with the maturation of SEMG’s asset base, the deployment of growth capital throughout SEMG’s footprint and the realization of significant balance sheet, tax and operational synergies.” Shares of SemGroup are higher by almost 8% to $68.97 in late morning trading.
January 23, 2015
16:51 EDTSMLPSalient Capital Advisors reports 9.56% passive stake in Summit Midstream
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January 22, 2015
16:42 EDTSMLPSummit Midstream raises Q4 distribution 3.7% to 56c per unit
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16:23 EDTRRMSRose Rock Midstream raises distributions on limited partner units by 7.8%
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10:03 EDTSEMG, RRMSOn the Fly: Analyst Initiation Summary
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06:42 EDTSEMGSemGroup initiated with an Outperform at RBC Capital
Target $75.
06:42 EDTRRMSRose Rock Midstream initiated with an Outperform at RBC Capital
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January 20, 2015
07:04 EDTMPLXMPLX raises quarterly distribution by 7% to 28.25c per unit
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