Magellan Midstream Partners (MMP) reaffirmed its annual DCF (distributable cash flow) guidance of $1.02 billion for 2017.
Dominion Energy Midstream Partners, the midstream MLP subsidiary of Dominion Energy, was downgraded last week by Mizuho and RBC Capital Markets.
Currently, American Midstream Partners is trading 3.6% below its 50-day simple moving average and 7.9% below its 200-day simple moving average.
CSI Compressco (CCLP), the MLP mainly involved in natural gas compression, was the highest MLP loser in the week ending November 3, 2017.
EV Energy Partners (EVEP), Mid-Con Energy Partners MCEP), and Legacy Reserves (LGCY) led the MLP top gainers last week ending November 3.
US crude oil rose 3.2% last week and ended the week at a 28-month high of $55.6 per barrel. However, MLPs didn’t participate in crude oil’s rally.
On November 3, 2017, Citigroup raised Targa Resources’ rating to “buy” from “neutral.”
Targa Resources (TRGP) expects the 2017 growth capital expenditures for its announced projects to be ~$1.3 billion.
According to Targa Resources, normalized for the effects of Hurricane Harvey, the 3Q17 LPG export volumes would have been ~8.0% higher sequentially.
Targa Resources’ (TRGP) Gathering and Processing segment’s operating income grew 33.0% in 3Q17 over 3Q16.
Targa Resources (TRGP) reported its 3Q17 results on November 2. Targa Resources’ distributable cash flow for 3Q17 was $186.6 million.
Enterprise Products Partners spent $1 billion on capital projects in 3Q17. In the first nine months of 2017, EPD spent $2.3 billion on capital projects.
Only EPD’s NGL Pipelines and Services segment’s EBITDA rose during 3Q17. The segment’s EBITDA rose 10% YoY in 3Q17.
Enterprise Products Partners (EPD) reported its 3Q17 results on November 2. Its adjusted EBITDA rose 5% to ~$1.32 billion from ~$1.26 billion in 3Q16.
For Williams Companies (WMB), 74.0% of the analysts rate its as a “buy” as of November 2, 2017, while 26.0% rate it as a “hold.”
Williams Companies (WMB) was trading at an EV-to- EBITDA multiple of 11.6x as of November 2, 2017, which is below its historical average.
Williams Companies (WMB) and Williams Partners’ (WPZ) stocks were weak following the 3Q17 earnings announcement.
Williams Partners’ West segment posted a 1.6% YoY fall in its adjusted EBITDA in 3Q17. Its 3Q17 performance was impacted by lower throughput volumes.
Williams Companies (WMB) and its MLP subsidiary, Williams Partners (WPZ), reported their 3Q17 earnings on November 1, 2017.
About 56% of analysts rate EnLink Midstream Partners (ENLK) a “hold,” while 38.0% rate it a “buy.”