Company Overview and News
2018-09-26 seekingalpha - 1
Over time, the US and Canadian energy markets have become more integrated. Energy trade and cross-border asset ownership are just some examples of this interconnectedness. Enbridge's (NYSE:ENB) simplification plan, which includes acquiring its sponsored MLPs Spectra Energy Partners (NYSE:SEP) and Enbridge Energy Partners (NYSE:EEP), is a company-level example of the overlap between US and Canadian midstream.
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Your elementary science teacher probably taught you that oil and water don't mix, but when it comes to oil production, water plays an important role. In fact, water is both a necessity and a potential headache for oil and natural gas producers. Water is needed for hydraulic fracturing of wells, which involves pumping water, chemicals and sand into a well to open fractures to encourage production of hydrocarbons.
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BRENTWOOD, Tenn., Sept. 18, 2018 (GLOBE NEWSWIRE) -- Delek US Holdings, Inc. (NYSE: DK) (“Delek US”) announced today that it paid $150 million in cash for the principal amount and issued 2,692,218 shares of its common stock upon the conversion of the 3.00% convertible senior notes due 2018 (the “Notes”). The issuance of shares related to this conversion was offset by a hedge that was in place resulting in no dilution to Delek US from the Notes.
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The US is on track to become the world's largest oil producer based on 2019 production forecasts from the Energy Information Administration (EIA). Moreover, the International Energy Agency (IEA) forecasts that the US will account for more than half of the worldwide growth in oil production capacity over the next five years. As the US becomes the world's premier oil producer and the main driver of oil production growth, crude exports from the US are set to grow.
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BRENTWOOD, Tenn., Sept. 06, 2018 (GLOBE NEWSWIRE) -- Delek US Holdings, Inc. (NYSE: DK) (“Delek US”) today announced it expects to complete a $100.0 million 10b5-1 repurchase plan of Delek US shares in the third quarter 2018 subject to 10b5-1 volume limitations. During the third quarter, approximately $30.0 million of shares were repurchased through the end of August 2018.
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Disclosure: © Alerian 2018. All rights reserved. This material is reproduced with the prior consent of Alerian. It is provided as general information only and should not be taken as investment advice. Employees of Alerian are prohibited from owning individual MLPs. For more information on Alerian and to see our full disclaimer, visit http://www.alerian.com/disclaimers.
Delek US Holdings, Inc.’s (DK - Free Report) share price rally makes the stock an investor favorite. Shares of the company have rallied a whopping 114% over a year, outperforming its industry's growth of 51.4% and the Zacks S&P 500 Composite's rally of 18.6%.
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While we recap distribution growth quarterly (2Q18 recap), two quarters have passed since we last discussed distribution coverage (click here). In today's post, we show historical quarterly coverage ratios for current constituents of the Alerian MLP Infrastructure Index (AMZI) for 4Q16 and the three most recent quarters. While the data shows improvement for the group, there are some nuances in the changes to coverage ratios for certain constituents, including improvement following distribution cuts or improvement due to the pursuit of equity self-funding.
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For context, 2Q18 distributions refer to the distributions that will be paid in 3Q18 as a result of operational performance in 2Q18. The pie charts below reflect the Q/Q changes to distributions, comparing 2Q18 with 1Q18. For this exercise, we included Williams Partners (former ticker WPZ), which declared a distribution on July 23rd with a record date of August 3rd and was subsequently removed from both indices due to its merger with Williams Companies Inc.
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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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2018-08-08 seekingalpha - 1
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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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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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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2018-10-01 - Asif
Overview The following discussion and analysis should be read in conjunction with its unaudited interim condensed consolidated financial statements and the related notes that appear elsewhere in this quarterly report on Form 10-Q. This discussion contains forward-looking statements reflecting its current expectations that involve risks and uncertainties. Actual results may differ materially from those discussed in these forward-looking statements due to a number of factors, including those set forth in the section entitled “Risk Factors” in its most recent annual report on Form 10-K. For further information regarding forward-looking statements, please refer to the “Special Note Regarding Forward-Looking Statements and Projections” immediately after the index to this quarterly report on Form 10-Q. Alimera Sciences, Inc., and its subsidiaries (we or Alimera), is a pharmaceutical company that specializes in the commercialization and development of prescription ophthalmic pharma...
2018-09-25 - Asif
Background DelMar Pharmaceuticals, Inc. is a clinical stage drug development company with a focus on the treatment of cancer. The company's mission is to benefit patients and create shareholder value by developing and commercializing anti-cancer therapies for patients whose tumors exhibit features that make them resistant to, or unlikely to respond to, currently available therapies, particularly for orphan cancer indications where patients have failed, or are unlikely to respond to, currently available therapy. DelMar Pharmaceuticals is developing VAL-083, a novel, DNA-targeting agent, for the treatment of glioblastoma multiforme (“GBM”) and potentially other solid tumors, including ovarian cancer. VAL-083 is a first-in-class, DNA-targeting chemotherapeutic that demonstrated activity against a range of tumor types in prior Phase 1 and Phase 2 clinical studies sponsored by the US National Cancer Institute (“NCI”). The company's recent research has highlighted the opportunit...
2018-09-18 - Asif
Overview Rigel Pharmaceuticals is a biotechnology company dedicated to discovering, developing and providing novel small molecule drugs that significantly improve the lives of patients with immune and hematologic disorders, cancer and rare diseases. The company's pioneering research focuses on signaling pathways that are critical to disease mechanisms. The company's first FDA-approved product is TAVALISSE™ (fostamatinib disodium hexahydrate), an oral spleen tyrosine kinase (SYK) inhibitor, for the treatment of adult patients with chronic immune thrombocytopenia who have had an insufficient response to a previous treatment. The company's current clinical programs include Phase 2 studies of fostamatinib in autoimmune hemolytic anemia and IgA nephropathy, and a Phase 1 study for its IRAK program. In addition, Rigel Pharmaceuticals has product candidates in development with partners BerGenBio AS, Daiichi Sankyo, and Aclaris Therapeutics. Since inception, Rigel Pharmaceuticals h...
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