Company Overview and News

8
Delek (DK) Q2 Earnings Jump, Helped by Refining Margin Surge

2018-08-09 zacks
Delek US Holdings, Inc. (DK - Free Report) reported second-quarter adjusted net income per share of $1.03, lagging the Zacks Consensus Estimate of $1.14. The underperformance stems from higher operating expenses.
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16
Bye, Bye, Bye (MLPs) Part 3: What's An Investor To Do?

2018-08-08 seekingalpha
With all the recent transactions in the MLP space and consolidation of MLPs by their C-Corp parents, investors are understandably concerned about the implications for their MLP investments. Some investors are worried that MLPs face extinction, and others fear that they may be missing out if their energy infrastructure investment does not include corporations. But is there really reason for concern? In today's post, we wrap up our three-week series by breaking down what the changes in the MLP space mean for MLP investors and whether MLP investors should be worried based on their investment objective.
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0
Delek US Holdings Reports Second Quarter 2018 Results

2018-08-08 globenewswire
BRENTWOOD, Tenn., Aug. 07, 2018 (GLOBE NEWSWIRE) -- Delek US Holdings, Inc. (NYSE: DK) (“Delek US”) today announced financial results for its second quarter ended June 30, 2018. Delek US reported second quarter 2018 net income of $79.1 million, or $0.89 per diluted share, versus net loss of $(37.9) million, or $(0.61) per basic share, for the quarter ended June 30, 2017. On an adjusted basis, Delek US reported net income of $89.
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0
Delek Logistics Partners, LP Reports Second Quarter 2018 Results

2018-08-08 globenewswire
BRENTWOOD, Tenn., Aug. 07, 2018 (GLOBE NEWSWIRE) -- Delek Logistics Partners, LP (NYSE: DKL) ("Delek Logistics") today announced its financial results for the second quarter 2018. For the three months ended June 30, 2018, Delek Logistics reported net income attributable to all partners of $25.6 million, or $0.79 per diluted common limited partner unit. This compares to net income attributable to all partners of $19.
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0
What To Watch For In The Delek US Holdings Q2 Report

2018-08-07 seekingalpha
The company's share price grew strongly during the first half of the quarter before faltering in June.
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0
Delek Logistics Partners: What To Watch In The Q2 Report

2018-08-07 seekingalpha
The MLP's unit price has fared far worse than its sponsor's share price over the last year even after accounting for its large distribution.
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5
Bye, Bye, Bye (MLPs) Part 2: Who Could Be Saying Bye?

2018-08-01 seekingalpha
Management teams of several MLPs (or GPs) have made comments indicating the potential for a restructuring or simplification but have not yet formally announced a transaction. In this post, we look at potential reorganization candidates. Specifically, we discuss MLPs that have made comments about simplification, structure, or addressing incentive distribution rights (IDRs) and provide relevant commentary from the company.
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3
Bye, Bye, Bye (MLPs) Part 1: Who's Saying Bye And Why?

2018-07-25 seekingalpha
We're kicking off a three-week series on the undisputed topic du jour and elephant in the room of the midstream space - the consolidation of MLPs into C-Corp structures. There have been several developments since we last wrote on the topic of MLPs disappearing. In today's post, we digest the reorganization announcements seen this year, the rationale behind them, and the repercussions for investors.
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0
FERC Finalized Rule Positive For MLPs; Cue The Relief Rally

2018-07-20 seekingalpha
Wednesday after market close, the FERC finalized its policy rule for natural gas pipelines as it relates to tax changes. This represents a follow-up to its policy revision announced on March 15th (Alerian commentary here). In short, the final rule provides additional clarity and is less punitive towards MLPs than some had feared. The final ruling goes a long way to relieving the uncertainty associated with FERC's initial announcement and how the policy would be implemented.
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1
U.S. LNG Exports Part 2: How Do LNG Exports Benefit Midstream?

2018-07-18 seekingalpha
Last week, we discussed the step change in US LNG export capacity expected next year and the role US LNG export projects could play in filling a potential global supply gap anticipated in the coming years. In today's post, we discuss how LNG exports increase infrastructure demand to the benefit of midstream. We also discuss how LNG exports facilitate natural gas production growth, with broad benefits for midstream companies and natural gas producers.
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13
U.S. LNG Exports Part 1: Capacity Jumping In 2019, But Will There Be Enough?

2018-07-11 seekingalpha
Last year, the US was one of 19 countries exporting liquefied natural gas (LNG) and played a relatively small role in the global market. To be precise, LNG exports from the US represented just 5% (1.9 Bcf/d) of the 38.2 Bcf/d global LNG market. That said, the US is on the brink of adding significant LNG export capacity next year and becoming a sizable player in the global LNG market. As an indication of the rising significance of the US, the World Gas Conference was held in Washington, D.
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9
Happy July Fourth, America! Celebrating The U.S. Energy Revolution

2018-07-04 seekingalpha
In just ten years, the US energy landscape has radically changed. Ten years ago, the headlines we take for granted today about record US oil production and energy independence would have been a pipe dream. In conjunction with tomorrow’s July Fourth holiday, we take the opportunity in today’s post to appreciate the positive progress in US energy over the last decade, comparing 2008 to 2018.
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14
How Much Energy Infrastructure Does North America Still Need?

2018-06-27 seekingalpha
When we aren't being asked about topics like distribution growth, self-funding, restructurings, and the FERC policy revisions, investors often ask about the runway of growth for energy infrastructure. The impressive build out of pipelines, not to mention pipeline reversals and conversions, completed in the wake of the shale boom left some investors wondering how much more midstream infrastructure is really needed.
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8
5 Fascinating Takeaways From The 2018 EIA Energy Conference

2018-06-13 seekingalpha
Last week, I attended the Energy Information Administration's 2018 Energy Conference. While interesting data points were plentiful, today's note focuses on five macro takeaways that were particularly fascinating. Several conference presentations have been posted on the EIA's website and would make interesting reading for energy observers. We provide high-level takeaways below on a variety of topics, including Permian production, shale production and drilling technology, and a long-term perspective on oil consumption.
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7
MLP And Energy Infrastructure Conference Recap: Dissecting The Disconnect With Fundamentals

2018-05-30 seekingalpha
Last week, we attended the MLP and Energy Infrastructure Conference hosted by the Master Limited Partnership Association in Orlando. The event was well attended, surpassing last year's record. While the FERC news, Permian discounts and oil prices were all relevant topics, the main focus was around the frustrating disconnect between fundamentals and equity values in the midstream space. With the recent restructuring announcements from several MLPs, corporate structure was a major topic, as well as what it will take for investors to become more constructive on this asset class.
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CUSIP: 020520102