Of the analysts surveyed by Bloomberg, 22% rate Midcoast Energy Partners (MEP) a “buy,” and 56% rate it a “hold.” About 22% rate it a “sell.” Its consensus target price is $13.40.
Midcoast Energy Partners’ (MEP) distributable cash flows increased in 2Q15 compared to 1Q15 and 2Q14. Its distributable cash flows have shown a rising trend since listing.
Midcoast Energy Partners’ (MEP) natural gas throughput volumes fell in 2Q15 compared to 1Q15 and 2Q14. The decrease was primarily due to the low commodity price environment for natural gas and NGLs.
Midcoast Energy Partners’ (MEP) year-to-date total returns are -12.2%. It gathers, processes, transports, and markets natural gas and NGLs (natural gas liquids).
Rose Rock Midstream (RRMS) was the top loser among midstream MLPs at the end of trading on Tuesday, August 25. It fell 4.71% in a single trading session.
Energy Transfer Partners’ Midstream segment became its largest business segment after the completion of its merger with Regency Energy Partners merger in April 2015.
Antero Midstream Partners (AM) was the top loser among midstream MLPs at the end of trading on Friday, July 31. It fell 5.02%. It has returned -2.98% YTD.
At the end of trading on Wednesday, June 24, Crestwood Midstream Partners (CMLP) took a huge tumble and became the biggest loser among midstream MLPs. The day before, CMLP was the top gainer.
Kinder Morgan operates like a toll road or fee-based business with limited commodity price exposure. About 85% of KMI’s 2015 budgeted EBDA is fee-based, and 94% is fee-based or hedged.
Crestwood Midstream (CMLP) investors don’t seem satisfied with the expected distribution growth. CMLP stock 5.81% the day after the merger announcement and 11.6% on May 26.
Crestwood Midstream Partners (CMLP) released its 1Q15 earnings on May 6. Its major announcement was the merger of CMLP and Crestwood Equity Partners (CEQP).
DPM has substantial liquidity of $1.25 billion under its revolver credit facility. With a current debt-to-EBITDA ratio of 3.3x and a TTM coverage ratio of 1.1x, DPM has a cushion for raising fresh capital.
Regency recently acquired a foothold in the Marcellus by buying PVR Partners LP in March this year in a deal worth $5.6 billion, specifically to boost its footprint in the Appalachian Basin.
Access to funds An important factor in the frenzy of M&A (mergers and acquisitions) activity in the midstream MLP space has been the ease of access to funds. Master limited partnerships (MLPs) generally don’t keep much cash on their balance sheet, as with the MLP structure, the majority of excess cash flow is paid out […]
Gas prices may be low now, but long-term gas drilling is here to stay in North America Currently, natural gas prices are relatively depressed, and short-term natural gas drilling activity on the whole doesn’t appear to be rising (see Why natural gas rigs aren’t likely to rise much through year-end). However, Regency’s purchase of PVR […]
