Company Overview and News
Shares of Occidental Petroleum Corporation (OXY - Free Report) have outperformed the Zacks Domestic Integrated Oil and Gas industry in the last six months. While the company’s shares rallied 10.8%, the industry gained 5.9%. Occidental Petroleum continues to benefit from increasing oil production in the Permian Resources and from its focus on high margin production region. Improving operating efficiency is also lowering barrels of oil equivalent (boe) operating expenses of the company in Permian Resources region. (25-0)
EQT Midstream Partners (EQM), the MLP formed by EQT Corporation (EQT) to provide natural gas gathering, compression, and transportation services in the Appalachian Basin, posted strong 17.2% and 25.3% YoY (year-over-year) revenue and EBITDA (earnings before interest, tax, depreciation, and amortization) growth in 3Q17. However, the partnership still missed its 3Q17 EBITDA estimate by 1.4%. (8-0)
EnLink Midstream LLC (ENLC), the GP (general partner) of EnLink Midstream Partners (ENLK), was raised by UBS to a “buy.” Overall, ENLC has seen five rating updates in 2017, including two upgrades and three new coverages with a “hold” rating. Now, 73.3% of analysts surveyed by Reuters rate ENLC a “hold,” 20% rate it a “buy,” and the remaining 6.7% rate it a “sell.” ENLC is currently trading close to the low range ($15) of analysts’ target price. (12-0)
Greetings, and welcome to EQT Corporation's Third Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded. (10-0)
Thanks to Uniti Group's continued decline, it was another big week of buying for my EDDGE 3.0 portfolio. (3-0)
Enterprise Products Partners is bluest of MLP blue chips, and a core position in many high-yield portfolios, including those of retirees; and for a good reason. (22-0)
The GP's only cash generating assets are its interests in its limited partner - EQT Midstream Partners. (16-0)
Earnings season has begun, and Kinder Morgan (KMI) was the first midstream company to report Q2 earnings on July 19. A few MLPs reported their Q2 earnings last week. For a post-earnings analysis on Kinder Morgan (KMI), read Kinder Morgan Rose Due to Its 2018 Dividend Forecast.
On July 19, 2017, Barclays raised its rating for Plains All American Pipeline (PAA) to “overweight” from “equal weight.” On July 10, 2017, Mizuho had raised its Plains All American Pipeline’s rating to “buy” from “neutral.”
In its letter to EQT's Board, JANA Partners makes a case against the recently announced merger with Rice Energy.
Energy Transfer Equity (ETE), one of the most volatile MLP stocks, has recovered slightly from its decline last week. ETE stock fell 1.2% last week due to the weakness in crude oil prices. During the same period, the Alerian MLP ETF (AMLP), which consists of 25 energy MLPs, fell 0.2%. Energy Transfer Partners (ETP), ETE’s MLP subsidiary, fell 0.9%.
MLPs reversed intraday to finish positive Friday, which, when combined with outsized gains on Monday, was enough to finish the week slightly positive. That makes two straight positive weeks and two straight weeks of outperforming the S&P 500 and utilities. MLP capital markets activity has been negligible for over a month now, which is perhaps a contributing factor to MLP strength this week.
As of June 16, 2017, 45.8% of the 24 total analysts covering ConocoPhillips (COP) have a “buy” recommendation on the stock. Seven analysts have a “strong buy,” 11 analysts have a “buy,” and six analysts have a “hold” recommendation for the stock. There aren’t any “strong sell” or “sell” recommendations for COP.
In a press release on Monday, June 19, 2017, EQT Corporation (EQT), the sponsor for EQT Midstream Partners (EQM), announced its acquisition of Rice Energy (RICE) for $6.7 billion. The combined company is expected to become the largest natural gas producer in the United States. EQT will acquire all of Rice Energy’s upstream assets and retained midstream assets as well as a 92.0% interest in Rice GP Holdings, which owns the IDRs (incentive distribution rights) and GP (general partner) interest in Rice Midstream Partners (RMP).
EQT GP Holdings, LP (EQGP - Free Report) was a big mover last session, as the company saw its shares rise almost 17% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $24.46 to $27.00 in the past one-month time frame. The company has not seen any estimate revisions over the past one month, while the Zacks Consensus Estimate for the current quarter also remained unchanged.
2017-10-28 - Wilton
2017-10-25 - Wilton
2017-10-10 - Wilton
2017-10-09 - Wilton
2017-08-25 - Wilton