30.10 -0.04 (-0.12%)
After hours: 4:18PM EST
|Bid||27.56 x 900|
|Ask||36.80 x 800|
|Day's Range||29.67 - 30.66|
|52 Week Range||27.69 - 42.92|
|Beta (3Y Monthly)||1.56|
|PE Ratio (TTM)||17.57|
|Forward Dividend & Yield||2.29 (7.76%)|
|1y Target Est||N/A|
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.
So far in this series, we’ve discussed how some MLPs are trading at attractive yields. Another partnership trading at a high yield is Tallgrass Energy (TGE). It’s currently trading at a yield of ~9.7%. Tallgrass Energy raised its distribution sequentially by 2.5% in Q3. Its dividend coverage for the quarter was 1.28x. The stock has fallen ~14% year-to-date.
Anadarko Petroleum unveiled its plans for 2019, which include another dividend increase and a boost to its stock buyback authorization.
Anadarko named a new president to oversee a new leadership structure, kicking off a series of promotions.
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."
On a per-share basis, the The Woodlands, Texas-based company said it had profit of 49 cents. The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment ...
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.
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.
Noble Midstream Partners (NBLX), Western Gas Equity Partners (WGP), and DCP Midstream Partners (DCP) were among the top MLP gainers in the week ending October 5. Oil and gas companies’ steps to fight Proposition 112 on the Colorado ballot likely made some investors optimistic about the companies’ futures. Noble Midstream Partners, Western Gas Equity Partners, and DCP Midstream Partners gained 14%, 8.4%, and 7.8%, respectively, last week. Even after last week’s gains, the three stocks have fallen 19%, 17%, and 12%, respectively, YTD (year-to-date).
On September 18, Wells Fargo raised its rating for Targa Resources (TRGP) to “outperform” from “market perform.” It raised its price target on the stock from $55 to $63. Out of 21 analysts surveyed by Reuters covering Targa Resources, seven have rated the stock a “strong buy,” four have rated it a “buy,” and the remaining ten have rated it a “hold.” The median price target for Targa Resources is $57, which implies an upside potential of 3% from its current price of $55.33.
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.
EnLink Midstream Partners (ENLK) rose 7.7% last week. The stock has gained substantially since its strong second-quarter results and is up 18% year-to-date. ENLK’s general partner, EnLink Midstream (ENLC), rose 3.4% last week. Buckeye Partners (BPL) and Crestwood Equity Partners (CEQP) were the other top MLP gainers for the week, rising 4.2% and 3.1%, respectively.
Moody's Investors Service (Moody's) assigned Ba1 ratings to Western Gas Partners, LP's (Western Gas) proposed offering of senior notes due 2028 and 2048. All existing ratings of Western Gas, including the Ba1 Corporate Family Rating (CFR), and the stable outlook are unchanged. The new senior notes have been rated Ba1, consistent with the ratings of Western Gas's existing senior notes.
On a per-share basis, the The Woodlands, Texas-based company said it had profit of 31 cents. The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks ...
Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Western Gas Partners, LP (WES) have what it takes? Let's find out.
Western Gas Partners (WES), a midstream MLP involved mainly in natural gas gathering and processing, crude oil gathering, and water-related midstream services, has generated a return of 96.1% over the past seven years.
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Raymond James last reduced ETE’s target price to $19 from $20. Before this, Mizuho lowered the GP’s target price to $20 from $21. ETE continues to trade below the low range ($17) of analysts’ target price.
Energy Transfer Equity (ETE) recently rose above its long-term 200-day moving average. The partnership was trading 8.1% above its 50-day simple moving average and on par with its 200-day simple moving average as of May 24.
Sociedad Química y Minera de Chile is one of many stocks the market is bullish on. Its expected double-digit top-line and bottom-line growth exceeds its peers, and its financially stableRead More...