|Bid||0.00 x 800|
|Ask||0.00 x 1000|
|Day's Range||24.11 - 24.75|
|52 Week Range||24.03 - 47.60|
|Beta (3Y Monthly)||1.35|
|PE Ratio (TTM)||6.23|
|Forward Dividend & Yield||2.57 (10.41%)|
|1y Target Est||N/A|
(Bloomberg) -- The Williams Companies Inc. is working with investment firm Global Infrastructure Partners on a possible offer for Noble Energy Inc.’s midstream unit, according to people with knowledge of the matter.The two firms are among groups that are in talks to take Noble Midstream Partners LP private, said the people, who asked not to be identified because they weren’t authorized to speak publicly. An agreement hasn’t been reached and either side could choose not to proceed with a transaction, the people said.Representatives for Williams and Global Infrastructure Partners declined to comment. A Noble representative didn’t immediately respond to requests for comments.Noble Midstream’s units rose 2.2% to $27.50 on Monday in New York trading, giving the Houston-based company a market value of about $1.1 billion. The units have fallen about 48% in the past year. Williams fell 4.9% to $23.78 for the worst daily performance in more than seven months.Noble Midstream Chief Executive Officer Terry Gerhart said during a conference call with analysts Friday that a strategic review “remains a priority.”Removing incentive distribution rights, which give the parent company an increasing share of cash flow, is “part of the consideration that Noble is going through on their strategic review,” Gerhart said.Noble Midstream on Friday reported net income of $53 million on revenue of $158 million during the second quarter, an almost 20% increase in profit over the same period last year.Pipeline SalesA deal for the Noble unit would add to a series of divestitures involving of North American pipeline operations. TC Energy Corp. closed the sale this month of Columbia Midstream Group to UGI Energy Services LLC.Several private equity firms are weighing bids for stakes in Western Midstream Partners LP, which is being sold by Occidental Petroleum Corp. as part of its acquisition of Anadarko Petroleum Corp., people familiar with that matter have said.Noble Midstream, structured as a master limited partnership, owns pipelines in Colorado’s Denver-Julesburg Basin and the Delaware Basin in West Texas and New Mexico, according to its website.Williams, based in Tulsa, Oklahoma has has teamed up with private equity to buy assets. Last year, it partnered with KKR & Co. to acquire Discovery Midstream Partners LLC from buyout firm TPG.\--With assistance from Andres Guerra Luz.To contact the reporters on this story: Kiel Porter in Chicago at firstname.lastname@example.org;Gillian Tan in New York at email@example.com;Rachel Adams-Heard in Houston at firstname.lastname@example.orgTo contact the editors responsible for this story: Liana Baker at email@example.com, ;Alan Goldstein at firstname.lastname@example.org, ;Simon Casey at email@example.com, Michael Hytha, Matthew MonksFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Wall Street, and most investors who follow its lead, is overlooking this online bank, pharmaceutical company, and master limited partnership. Investors who are paying attention could score outsized gains by investing ahead of the crowd.
The Houston-based company said it had net income of $1.01 per share. The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was ...
Is Noble Midstream Partners LP (NYSE:NBLX) a good equity to bet on right now? We like to check what the smart money thinks first before doing extensive research. Although there have been several high profile failed hedge fund picks, the consensus picks among hedge fund investors have historically outperformed the market after adjusting for known […]
Noble Midstream Partners LP, a pipeline operator controlled by U.S. oil and gas exploration and production company Noble Energy Inc, is up for sale, people familiar with the matter said on Thursday. The decision to seek to sell Noble Midstream Partners comes at a time when oil and gas companies are coming under intense pressure from shareholders to direct their focus on core operations to maximize returns and minimize expenses. Noble Energy could also decide to sell some of the assets and not the whole company, four sources said, asking not to be identified because the matter is confidential.
Although some pipeline projects have been a relief to the bottleneck problem, more pipelines are needed to significantly eradicate the transportation capacity constraint.
What Happened in the Midstream Sector Last Week?(Continued from Prior Part)Top losses Targa Resources (TRGP) was the top midstream underperformer last week. Targa Resources fell 8.0% for the week. The company reported its fourth-quarter results
Rating Action: Moody's assigns P-3 rating to Noble Energy's CP program. Global Credit Research- 19 Feb 2019. New York, February 19, 2019-- Moody's Investors Service assigned a first time Prime-3 commercial ...
On a per-share basis, the Houston-based company said it had profit of $1. The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research ...