|Bid||43.51 x 800|
|Ask||52.90 x 1200|
|Day's Range||46.06 - 47.54|
|52 Week Range||38.35 - 54.40|
|Beta (3Y Monthly)||1.52|
|PE Ratio (TTM)||55.56|
|Earnings Date||Feb 13, 2019 - Feb 18, 2019|
|Forward Dividend & Yield||3.86 (8.25%)|
|1y Target Est||56.21|
On November 8, Western Gas Equity Partners (WGP) announced an agreement to acquire Western Gas Partners (WES) in a unit-for-unit exchange. Once completed, Western Gas Equity Partners is to own ~98% of WES and parent Anadarko Petroleum (APC) will own ~2%. The acquisition is expected to complete in Q1 2019.
Anadarko Petroleum unveiled its plans for 2019, which include another dividend increase and a boost to its stock buyback authorization.
NEW YORK, Nov. 16, 2018 -- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors,.
Anadarko named a new president to oversee a new leadership structure, kicking off a series of promotions.
HOUSTON, Nov. 15, 2018 /PRNewswire/ -- Western Gas Partners, LP (WES) ("WES") and Western Gas Equity Partners, LP (WGP) ("WGP" and collectively the "Partnerships") announced that effective today Robin H. Fielder has been named President of the Partnerships. Fielder will also succeed Fink as CEO of the Partnerships effective Jan. 1, 2019.
On November 2–9, midstream stock Western Gas Partners (WES) gained the most on our list of energy stocks. In fact, the Alerian MLP ETF (AMLP) rose 1.2%—the most among major energy subsector ETFs, which we discussed in the previous part.
Anadarko Petroleum Corp. is selling what is largely left of its midstream assets to Western Gas Partners LP, a partnership it formed a decade ago, in a deal that it said is valued at about $4.02 billion. Western Gas Partners will be buying all of Anadarko’s stake in DBM Oil Services and APC Water Holdings and half of its nonoperated interests in Bone Spring Gas Plant and MiVida Gas Plant. The partnership will also buy Anadarko’s full stakes in DJ Basin Oil System and Wattenberg Plant, both of which are in northeast Colorado, Anadarko said.
"The size of this asset sale, along with the clear benefits of the simplification transaction, highlights the tremendous value of Anadarko's midstream business."
HOUSTON, Nov. 8, 2018 /PRNewswire/ -- Anadarko Petroleum Corporation (APC) today announced a transaction to sell substantially all of its remaining midstream assets for $4.015 billion to Western Gas Partners, LP (WES), with $2.0075 billion cash proceeds, and the balance to be paid in new Western Gas equity. Concurrently WES announced it has entered into a merger agreement with Western Gas Equity Partners, LP (WGP), which will result in a simplified midstream structure.
HOUSTON, Nov. 8, 2018 /PRNewswire/ -- Western Gas Partners, LP (WES) ("WES") and Western Gas Equity Partners, LP (WGP) ("WGP" or the "Partnership") today announced they have entered into a merger agreement (the "Agreement") whereby WGP will acquire all the publicly held common units of WES and substantially all of the units owned by Anadarko Petroleum Corporation (APC) ("APC") in a unit-for-unit, tax-free exchange (the "Simplification Transaction"). WGP will own 98% of WES, and APC will own the remaining 2%. In conjunction with the Simplification Transaction, WES has agreed to acquire substantially all of APC's remaining midstream assets for a price of $4.015 billion (the "Acquisition," and together with the Simplification Transaction, the "Transactions").
Q3 2018 Western Gas Partners LP and Western Gas Equity Partners LP Earnings Call
HOUSTON , Oct. 30, 2018 /PRNewswire/ -- Western Gas Partners, LP (NYSE: WES) ("WES" or the "Partnership") and Western Gas Equity Partners, LP (NYSE: WGP) ("WGP") today announced ...
HOUSTON, Oct. 17, 2018 /PRNewswire/ -- Western Gas Partners, LP (WES) announced today that the board of directors of its general partner declared a quarterly cash distribution of $0.9650 per unit for the third quarter of 2018. Western Gas Equity Partners, LP (WGP) also announced today that the board of directors of its general partner declared a quarterly cash distribution of $0.5950 per unit for the third quarter of 2018. WGP's third quarter 2018 distribution is payable on November 21, 2018, to unitholders of record at the close of business on October 31, 2018.
On October 9, Antero Midstream Partners (AM) and Antero Midstream GP (AMGP) announced a simplification transaction. Antero Midstream GP will acquire all of the outstanding units of Antero Midstream Partners. As part of the transaction, Antero Midstream GP will convert into a C corporation and be renamed as “Antero Midstream Corporation.” Antero Midstream Partners and Antero Midstream GP stocks rose after the announcement. To learn more, read Antero Midstream to Buy Antero Midstream Partners.
Andeavor Logistics (ANDX), Magellan Midstream Partners (MMP), and Plains All American Pipeline (PAA), top Alerian MLP Index constituents by market capitalization, are trading at price-to-DCF (distributable cash flow) ratios higher than the peer average. Andeavor Logistics, Magellan Midstream Partners, and Plains All American Pipeline are trading at price-to-DCF ratios of ~12.4x, 14.6x, and 17.2x, respectively.
Noble Midstream Partners (NBLX) stock fell significantly in August and September as Initiative 97 was started and then made it onto the Colorado ballot as Proposition 112. The proposition requires that new oil and gas development, including fracking, should be a minimum distance of 2,500 feet from “vulnerable” areas such as homes, schools, or hospitals.
TC PipeLines (TCP) fell 7.5% last week. The stock has fallen 41% year-to-date. It fell significantly in March following the FERC (Federal Energy Regulatory Commission) ruling relating to cost recoveries for FERC-regulated interstate MLP pipeline rates. It then fell again in May following a distribution cut.
Between September 14 and 21, midstream stock TC PipeLines (TCP) fell the most on our list of energy stocks. In fact, the Alerian MLP ETF (AMLP) saw the only decline among the major energy subsector ETFs that we discussed in Part 2 of this series.
Downstream MLP Calumet Specialty Products Partners (CLMT) fell 6.5% last week, which ended September 14. Noble Midstream Partners (NBLX) fell 3.7% last week and has fallen 21% so far in 2018. Western Gas Partners (WES) and its general partner Western Gas Equity Partners (WGP) fell 3.6% and 3.7%, respectively, last week.
Between September 7 and 14, integrated energy stock Petrobras (PBR) fell the most on our list of energy stocks, which also included the following: SPDR S&P Oil & Gas Exploration & Production ETF (XOP) Energy Select Sector SPDR ETF (XLE) Alerian MLP ETF (AMLP) VanEck Vectors Oil Services ETF (OIH)
Between August 31 and September 7, oilfield services stock Rowan Companies (RDC) saw the highest gain on our list of energy stocks. However, the VanEck Vectors Oil Services ETF (OIH) fell 6.1%, the largest fall among major energy subsector ETFs during the period, as we discussed in the previous article.
EQT Midstream Partners (EQM), a midstream MLP primarily involved in natural gas gathering, compression, and transportation, has an upside potential of 15.5% for the next 12 months. Analysts have given the company a target price of $66.6—compared to its current market price of $57.7.