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Basic MaterialsSales Drivers and What to Expect for Fertilizer Companies
The world has a problem that’s actually good for the fertilizer industry. This is the world’s population, which is ever-growing, as is food consumption.
Basic MaterialsMidstream Stocks Approach 52-Week Lows: Time to Buy?
Several midstream stocks hit their respective 52-week lows in the last five days. Crude oil prices took a hit yesterday amid concerns over trade talks.
Basic MaterialsNatural Gas Prices Were Favorable for Nitrogen Producers
For the week ending November 2, the natural gas prices at Henry Hub declined to $3.29 per MMBtu from $3.36 per MMBtu.
Basic MaterialsUrea Prices Continued to Fall Last Week
In the week ending November 2, urea prices continued to drop—a continuation of the trend we observed in the past few weeks.
Basic MaterialsNatural Gas Prices Rose Yet Again Last Week
Natural gas prices for the week ending October 26 increased week-over-week at most locations in the US.
Basic MaterialsCVR Refining Stock Up 7% in After-Hours Trading
CVR Refining (CVRR) reported its third-quarter results on October 24 after the markets closed. The stock rose 7.2% in after-hours trading yesterday.
Basic MaterialsNitrogen Input: Natural Gas Prices Fell at Henry Hub
In the week ending October 19, natural gas prices trended lower after experiencing a spike in the week ending October 12 at Henry Hub.
Basic MaterialsUrea Prices Paused in the Week Ending October 19
In the week ending October 19, urea prices in the NOLA region of the US and in Brazil paused after a meteoric rise since the beginning of April.
Basic MaterialsWhy Nitrogen Input Natural Gas Spiked Last Week
Last week, global tensions remained high, and natural gas prices spiked as the overall stock market traded in the deep red.
Basic MaterialsUrea Prices Hit New Highs Last Week
Nitrogen fertilizer companies CF Industries (CF), Nutrien (NTR), and CVR Partners (UAN) fell last week due to the broader market sell-off.
Basic MaterialsNitrogen Input: How Natural Gas Prices Performed Last Week
Natural gas prices are a key price driver for urea and other nitrogen fertilizers.
Basic MaterialsUrea Prices Continued Their Ascent Last Week
Urea prices continued to strengthen last week, which added to the optimism surrounding nitrogen companies (XLB).
Basic MaterialsCF Industries: UBS Raised the Target Price
On October 2, CF Industries (CF) received a target price upgrade from UBS. The stock gained ~1.8% and rose to $55.8 during the day.
Basic MaterialsNitrogen Fertilizers: Henry Hub Natural Gas Spot Prices
In the week ending September 28, the EIA (U.S. Energy Information Administration) reported that the natural gas prices in the United States were mixed.
Basic MaterialsUrea Prices: New Highs in the Week Ending September 28
In the week ending September 28, the urea prices in NOLA (New Orleans) and Brazil made new highs again. The rising trend started in May.
Basic MaterialsFertilizer Stocks and Prices in the Week Ending September 21
The week ending September 21 was broadly positive for the fertilizer sector. MOO rose 2.3% from the week ending September 14.
Basic MaterialsNatural Gas Price Update for Nitrogen Investors
Low natural gas prices in the US have been highly beneficial for North American fertilizer companies (XLB) including CF Industries (CF), CVR Partners (UAN), Nutrien (NTR), and Mosaic (MOS).
Basic MaterialsNatural Gas Price Update for Nitrogen Fertilizer Stocks
We track natural gas prices since they can have a significant impact on the prices of nitrogen fertilizers companies.
Basic MaterialsUrea Prices Flat to Positive in Week Ended September 7
Urea, the most common nitrogen fertilizer, has been on an upward trend in recent weeks.
Basic MaterialsNatural Gas Prices Fell Last Week, Benefiting Nitrogen Producers
We’re looking at natural gas prices in this series, primarily because they make up two-thirds of the input costs for nitrogen-based fertilizers.
Basic MaterialsKey Takeaways from CF Industries’ Strong Second-Quarter Results
CF Industries reported second-quarter sales of $1.3 billion, which beat analysts’ estimate of $1.2 billion.
Basic MaterialsLowest-Performing MLPs in Week Ended July 27
American Midstream Partners (AMID) was the lowest-performing MLP in the week ended July 27.
Basic MaterialsWhy CVR Partners Missed Analyst Estimates in Second Quarter
CVR Partners missed both top-line and bottom-line estimates for the second quarter, and the stock fell 4.5% after the earnings release.
Basic MaterialsWhat Drove CVR Energy and CVR Refining’s Q2 2018 Results?
CVR Energy (CVI) and its subsidiary CVR Refining (CVRR) reported their second-quarter results on July 25 after the markets closed.
Basic MaterialsHow Natural Gas Prices Moved Last Week
Between July 11 and July 18, natural gas spot prices at Henry Hub fell about 4.2% to $2.72 per MMBtu (million British thermal units).
Basic MaterialsCF Industries Pops on Price Upgrade from RBC
Today, RBC upgraded CF Industries (CF) from its “underperform” rating to “sector perform.”
Basic MaterialsBest-Performing MLPs in the Week Ended July 13
CVR Partners (UAN) rallied 9.7% in the week ended July 13, making it the top MLP gainer for the week.
Basic MaterialsUpdate: July 13 Fertilizer Stocks and Price Movements
Last week, which ended July 13, was broadly negative for the agribusiness sector. The broader market index was positive.
Basic MaterialsCVR Partners Is Expected to See Losses
CVR Partners is expected to report a loss per share of $0.06 in the second quarter compared to a loss per share of $0.03 in the corresponding quarter a year ago.
Basic MaterialsHow CVR Partners’ Sales Expectations Stack Up with Peers
Wall Street analysts estimate sales growth of $102 million in the second quarter, which would be a 4% year-over-year increase from $98 million in the second quarter of 2017.
Basic MaterialsMore Tariffs on China, Fertilizer Stocks Are in the Red
China is one of the largest fertilizer consumers in the world. Investors are concerned that retaliatory measures might hurt fertilizer companies.
Basic MaterialsA Review of Fertilizer Prices Last Week
In this series, we’ll look at key NPK (nitrogen, phosphorous, and potassium) fertilizer prices last week.
Basic MaterialsUrea Prices Rose in Week Ended June 29
Last week, urea prices continued to be positive for companies (XLB) such as CF Industries (CF), Nutrien (NTR) (POT), and CVR Partners (UAN).
Basic MaterialsFertilizers Got Stronger the Week Ended June 29
The upward trend for fertilizer continued last week, with CVR Partners (UAN) rising 9.6% week-over-week to $3.30.
Basic MaterialsLast Week Was a Great Week for Fertilizer Prices
Last week, the major NPK (nitrogen, phosphorous, and potassium) fertilizer prices rose broadly week-over-week.
Basic MaterialsWhat the Future Could Hold for CF Industries Stock
CF Industries (CF), one of the major nitrogen producers in North America, has had a bumpy ride since 2015.
Basic MaterialsUrea Prices Made a Strong Positive Move Last Week
Last week, urea prices continued their positive momentum from a week ago in the NOLA (New Orleans) region of the United States as well as in the Brazil region.
MiscellaneousHow Natural Gas Prices Are Moving
Natural gas prices are critical for nitrogen and ammonia-based phosphate fertilizer producers.
MiscellaneousUrea Prices Are on the Rise Again
After a brief pause in the direction two weeks ago, urea prices found positive momentum last week.
Basic MaterialsWhat to Expect from Mosaic’s 1Q18 Earnings
Mosaic is expected to report EPS of $0.28 in 1Q18, which would be a significant rise from its EPS of $0.04 in 1Q17.
Basic MaterialsTop MLP Losses in the Week Ending April 20
Noble Midstream Partners (NBLX) was the top MLP loss last week. Noble Midstream Partners fell 5.6%.
Basic MaterialsUrea Prices in NOLA and Brazil: Weakness Last Week
Last week, urea prices were broadly flat to negative at two locations.
Basic MaterialsFertilizer Price Movements for the Week Ended April 20
Last week, most fertilizer stocks ended in positive territory. Intrepid Potash (IPI) was the biggest gainer, rising 4.3% to $4.20.
Basic MaterialsNatural Gas Outlook for Nitrogen Fertilizers
Natural gas prices, which are key to US nitrogen fertilizer producers (MOO), were broadly lower during the week of April 4 to April 11, 2018.
Basic MaterialsUrea Prices Fell Last Week, Remain Higher in 2018
On average, urea prices in the Middle East fell as much as 4% week-over-week to $237 per metric ton from $247 per metric ton a week ago.
Basic MaterialsLast Week’s Must-Know MLP Ratings Updates
CVR Partners (UAN) got an upgrade from Cowen and Company last week. CVR raised UAN to “outperform,” which is equivalent to a “buy.”
Basic MaterialsLast Week’s Top MLP Gainers: Calumet and More
Calumet Specialty Products Partners (CLMT), a downstream MLP involved in the production of specialty fuels, was the top MLP gainer last week.
Basic MaterialsHow Nitrogen Margins for Fertilizer Companies Trended in 4Q17
In the recent quarters, fertilizer companies (MOO) have rationalized their output and costs to sustain the downward momentum in fertilizer prices that seemed to keep going down.
Basic MaterialsHow Nitrogen Shipments of These Fertilizer Companies Trended
In 4Q17, the overall nitrogen shipments of the five companies discussed below moved lower year-over-year.
Basic MaterialsUrea Prices Rose Last Week
Urea prices for the standard grade in the NOLA (New Orleans) region of the US and in Egypt saw the steepest weekly change last week.
Basic MaterialsAnalysts’ Ratings for Major Agribusiness Stocks: February Update
So far this year, some major agribusiness stocks, particularly in the fertilizer sector, have performed poorly.
Basic MaterialsUrea Price Update for the Week Ending February 16
Last week, urea price movements were broadly positive with prices in the Middle East experiencing strong gains week-over-week.
Basic MaterialsWhat Tax Cuts in the US Meant for CF Industries
During 4Q17, CF Industries received a one-time tax benefit of $491.0 million, or $2.09 per share, from the lowered corporate taxes in the US.
Basic MaterialsHow Natural Gas Prices Performed Last Week
Lately, natural gas prices have experienced high volatility primarily due to the swing in weather in North America.
Basic MaterialsCVR Partners: Top MLP Loser in the Week Ending January 26
CVR Partners, the MLP involved in nitrogen fertilizer production, was the top MLP loser in the week ending January 26. The partnership fell 7.1% last week.
Basic MaterialsWhy PAA Was the Biggest MLP Loser Last Week
Plains All American Pipeline (PAA) was the biggest MLP loser last week, which ended on January 19, 2018. The partnership ended the week 6.1% lower.
Basic MaterialsHow Natural Gas Prices Trended Last Week
In the week ending January 19, natural gas prices at Henry Hub remained elevated with the prices peaking at $5.46 per MMBtu (million British thermal units) on January 16, 2018.
Basic MaterialsUrea Prices Fell Last Week
Nitrogen fertilizer prices remained volatile on the back of the volatility in the input prices of natural gas.
Basic MaterialsHow Fertilizer Prices Moved Last Week
In the week ending January 19, the VanEck Vectors Agribusiness ETF (MOO) rose 1%, and the broader market S&P 500 (SPY) also ended in positive territory with a gain of 1.2%.
Basic MaterialsNatural Gas Prices for the Week Ending January 12
Natural gas is one of the critical input materials needed for nitrogen and some phosphate-based fertilizers.
Basic MaterialsUrea Prices Were Positive Last Week, Remain a Concern
Urea is sold in the granular and prilled variety. In the week ending January 12, granular urea prices were broadly flat to positive week-over-week.
Basic MaterialsTop MLP Losers in the Week Ending January 12
Ferrellgas Partners (FGP) was the top MLP loser in the week ending January 12, 2017. The partnership ended the week 11.5% lower.
Basic MaterialsHow Analysts View CF Industries in January 2018
Nineteen Wall Street analysts are covering CF Industries. They have a consensus mean rating of 2.7 on the stock with an overall “hold” recommendation as of January 10, 2018.
Basic MaterialsTop MLP Losers in Week Ended January 5
Foresight Energy (FELP) was the top MLP loser last week. It fell 3.8% in a single trading session on Friday, January 5, 2018.
Basic MaterialsThese MLPs Rose More Than 9% in Week Ended January 5
CVR Partners (UAN) was the top MLP gainer last week, which ended on January 5, 2018. It rose 23.2%.
Basic MaterialsWhy Natural Gas Rose Sharply Last Week
Natural gas is one of the key input components for gas-based nitrogen fertilizer producers (MOO)(MXI) such as CF Industries (CF), Terra Nitrogen (TNH), CVR Partners (UAN), and Nutrien (NTR).
Basic MaterialsUrea Prices Saw Good Start to 2018
In the week ending January 5, the prices for granular as well as prilled urea were broadly higher week-over-week.
Basic MaterialsIntrepid Potash’s Earnings Rose in 2017
Intrepid Potash (IPI) shifted its focus to produce trio. Besides trio, the company continues to diversify its income sources.
Basic MaterialsWhy Intrepid Potash Stock Doubled in 2017
Intrepid Potash was one of the top performers in 2017. Its stock rose ~127% YTD from $2.1 on January 3, 2017, to $4.72 at the closing on December 28.
Basic MaterialsCF Industries Valuation Multiple versus Peers’
In this part of our series, we’ll discuss the valuation multiples for CF Industries (CF) and compare with peers’ (XLB) such as PotashCorp (POT), Agrium (AGU), Mosaic (MOS), CVR Partners (UAN), and other agribusiness stocks.
Basic MaterialsAssessing the Shift in CF Industries’ Product Mix
In the earlier part of this series, we discussed how shipments impacted CF Industries’ (CF) sales. From our analysis, it’s clear that a rise in selling prices remains the most important growth catalyst for the company.
Basic MaterialsWhat Investors Are Paying for Agribusiness Stocks: Part 2
The remaining companies In this part, we’ll compare the five remaining agribusiness companies’ valuation, again using forward EV-to-EBITDA (enterprise value-to-earnings before interest, tax, depreciation, and amortization) multiples. Valuation multiples As shown in the above chart, the remaining companies’ valuation multiples have risen in the last two years. At 18.3x, FMC (FMC) was trading at a premium to the peer […]
Basic MaterialsWhat 2018 May Hold for Nitrogen Prices
Nitrogen in 2018 Nitrogen prices remained weak for most of 2017, falling as much as 27% YoY (year-over-year). Ammonia, a fundamental nitrogen input, is further upgraded to nitrogen fertilizers such as urea and urea ammonium nitrate. Ammonia supply As shown in the above chart, ammonia capacity saw a net addition of five million metric tons, or […]
Basic MaterialsBlueknight Energy Partners: Top MLP Loser Last Week
Blueknight Energy Partners (BKEP) was the top MLP loser last week—it fell 6.8%. The partnership has lost 30.7% since the beginning of the year.
Basic MaterialsThe Top MLP Gainers as of December 8
CVR Partners, an MLP involved in nitrogen fertilizer production, was the biggest MLP gainer last week (ended December 8), rising 17.4% during the week.
Basic MaterialsFertilizer Prices Update: Week Ended December 8
CVR Partners (UAN) emerged as the top gainer last week, rising 17.4% week-over-week to close at $3.70. CF Industries (CF) followed, rising 4.4% to close at $39.30.
Basic MaterialsNatural Gas Prices Impacted Nitrogen Fertilizers Last Week
The average weekly natural gas prices at Henry Hub for the week ending November 17 moved higher week-over-week.
Basic MaterialsWhat to Expect from Nitrogen Fertilizers
During 3Q17, urea prices were stronger year-over-year. According to Agrium (AGU), urea prices were positively impacted due to growth in demand from the Indian market as well as lower exports coming out of China.
Basic MaterialsWhy Nitrogen Fertilizer Prices Fell in 3Q17
On average, nitrogen fertilizer prices failed to show a meaningful growth YoY (year-over-year) in 3Q17.
Basic MaterialsTop MLP Losers for Week Ended November 10
EV Energy Partners (EVEP), an upstream MLP, was the biggest MLP loser last week, which ended on November 10, 2017. EVEP fell 25.5%.
Basic MaterialsHow Urea Prices Moved Last Week
In the week ending November 3, the overall weekly urea prices were broadly flat to negative week-over-week.
Basic MaterialsHow Did Fertilizer Stocks Perform Last Week?
In the week ending November 3, agricultural fertilizer stocks were broadly positive.
Basic MaterialsWhy CF Industries’ Shipments Grew in 3Q17
In the previous part of this series, we saw how CF Industries’ (CF) overall and segment sales performed in 3Q17. The company’s growth was mainly driven by shipments growth.
Basic MaterialsWhy CF Industries’ Sales Grew 28% in 3Q17
In 3Q17, CF Industries (CF) sales saw growth across each of its five segments year-over-year. Overall, the company’s sales grew 28% year-over-year to $870 million from $680 million in 3Q16.
Basic MaterialsLast Week’s Top MLP Gainers
CVR Partners (UAN), the MLP mainly involved in the production of nitrogen fertilizers, was the top MLP gainer last week. CVR Partners rose 7.7%.
Basic MaterialsUrea Prices Moved Higher in Week Ended October 27
Last week continued to be a positive week for urea prices. Prices have risen lately as a result of excess capacities cooling off.
Basic MaterialsFertilizer Prices for the Week Ended October 27, 2017
Last week, the VanEck Vectors Agribusiness ETF (MOO) closed 40 basis points higher from the start of the week. The S&P 500 Index (SPY) ended the week 62 basis points higher.
Basic MaterialsWhy PotashCorp’s Nitrogen Price Realization Fell in 3Q17
Overall, PotashCorp’s (POT) nitrogen prices in 3Q17 indicated no positive momentum, which is a trend we’ve observed in recent years.
Basic MaterialsNitrogen Supply and Demand Impacts Prices
Nitrogen prices have been subdued for most of this year—compared to a few years ago. The global market continues to experience excess capacity.
Basic MaterialsAre Urea Prices Cooling Off?
After an impressive runup in the past four months, urea prices appear to be cooling off.
Basic MaterialsTop MLP Losers during the Week Ended September 29
CONE Midstream Partners (CNNX) fell 8.7% during the week and has fallen 32.7% since the beginning of 2017.
Basic MaterialsWhich MLPs Rose More than 4% in the Week Ending September 15?
Dominion Midstream Partners (DM) was the top MLP gainer in the week ending September 22, 2017. Dominion Midstream rose 12.1% during the week.
Basic MaterialsUrea Prices Gained Significant Momentum Last Week
In the week ending September 22, urea prices gained significant upward momentum. The gain was favorable news for nitrogen fertilizer producers.
Basic MaterialsWhat Analysts Think about Compass Minerals International
As of September 18, the consensus mean price target on CMP stood at $69.5 per share, which was about 1.6% lower than the closing price of $70 on the same day.
Basic MaterialsWhat Analysts Recommend for CF Industries in September 2017
CF Industries CF Industries (CF) has had a decent run so far this year. YTD (year-to-date), the company has returned 11.5%, which is slightly shy of the S&P 500 Index’s (SPY) return of 11.8% over the same period. Over the last one month alone, the stock has risen by ~20.9%, which has left behind other […]
Basic MaterialsThese MLPs Rose More than 6% Last Week
NGL Energy Partners (NGL) was the top MLP gainer last week. NGL rose 17.2% during the week due to the rally in crude oil prices.
Basic MaterialsTop 10 Agricultural Chemicals Stocks Include Scotts Miracle-Gro
Over the past ten-year period, Scotts Miracle-Gro has risen 193.0% and significantly outperformed the S&P 500 Index’s rise of 69.2% over the same period.
Basic MaterialsAn Update on the PotashCorp and Agrium Merger
On September 7, 2017, PotashCorp (POT) and Agrium (AGU) provided an update on the status of their merger. The merger was initiated almost a year ago.
Basic MaterialsReading Nitrogen Price Realizations in 2Q17: Fertilizer Players Compared
Calendar 2Q17 remained subdued for the nitrogen fertilizer pricing environment. Cheap energy costs have driven capacity buildups and flattened the cost curve.
Basic MaterialsCF Industries’ Realized Prices Continued to Fall in 2Q17
While CF Industries’ (CF) shipments rose in 2Q17, price realizations continued to disappoint.