Company Overview and News
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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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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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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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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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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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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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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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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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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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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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.
2018-08-13 - Asif
Core Business At Ballard, Ballard Power Systems is building a clean energy growth company. Ballard Power Systems is recognized as a world leader in proton exchange membrane (“PEM”) fuel cell power system development and commercialization. The company's principal business is the design, development, manufacture, sale and service of PEM fuel cell products for a variety of applications, focusing on its power product markets of Heavy-Duty Motive (consisting of bus, truck, rail and marine applications), Portable Power, Material Handling and Backup Power, as well as the delivery of Technology Solutions, including engineering services, technology transfer, and the license and sale of its extensive intellectual property portfolio and fundamental knowledge for a variety of fuel cell applications. A fuel cell is an environmentally clean electrochemical device that combines hydrogen fuel with oxygen (from the air) to produce electricity. The hydrogen fuel can be obtained from natural g...
2018-08-13 - Asif
Overview Marathon Patent Group was incorporated in the State of Nevada on February 23, 2010 under the name Verve Ventures, Inc. On December 7, 2011, the company changed its name to American Strategic Minerals Corporation and were engaged in exploration and potential development of uranium and vanadium minerals business. In June 2012, the company discontinued its minerals business and began to invest in real estate properties in Southern California. In October 2012, the company discontinued its real estate business when its former CEO joined the firm and the company commenced its IP licensing operations, at which time the Company’s name was changed to Marathon Patent Group, Inc. On November 1, 2017, the company entered into a merger agreement with Global Bit Ventures, Inc. (“GBV”), which is focused on mining digital assets. Marathon Patent Group has since purchased its cryptocurrency mining machines and established a data center in Canada to mine digital assets. Following the me...
2018-08-13 - Asif
Business and Organization Endocyte, Inc. is a biopharmaceutical company and leader in developing targeted therapies for the treatment of cancer. The Company uses drug conjugation technology to create novel therapeutics and companion imaging agents for personalized targeted therapies. The agents actively target receptors that are over-expressed on diseased cells relative to healthy cells, such as prostate specific membrane antigen (“PSMA”) in prostate cancer. This targeted approach is designed to safely enable the delivery of highly potent drug payloads. The companion imaging agents are designed to identify patients whose disease over-expresses the target of the therapy and who are therefore more likely to benefit from treatment. In September 2017, the Company entered into a Development and License Agreement (the “License Agreement”) with ABX advanced biochemical compounds – Biomedizinische Forschungsreagenzien GmbH (“ABX”), pursuant to which the Company acquired exclusive ...
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