The Energy Report
Notable Quotes
"With the LOI signed, we urge investors to bolster positions in FCU." (12/22/15) Fission Uranium Corp. - David Sadowski, Raymond James More >
"FCU is taking the right steps regardless of whether PLS is ultimately acquired or developed into a mine." (12/22/15) Fission Uranium Corp. - Heiko Ihle, Rodman & Renshaw More >
"I am quite excited about POE in 2016." (12/16/15) Pan Orient Energy Corp. - Chen Lin, What Is Chen Buying? What Is Chen Selling? More >
"BKX's Oklahoma asset has significant value." (12/16/15) BNK Petroleum Inc. - Michael Charlton, iA Securities More >
"EFR is one of the few companies in a position to write long-term sales contracts and deliver into them at several times its current production rate." (12/17/15) Energy Fuels Inc. - The Gold Report Interview with Eric Coffin More >
EEP Gets a Bump
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RICHARD GROSS, Barclays Capital
(07/27/2010)
"EEP reported a 2Q beat, [with] EBITDA [of] $270MM vs. our $240MM estimate and $244MM consensus. Compared to our estimate, the upside surprise was attributable to higher volumes and margins in the Liquids Segment. On [a] YoY basis, EBITDA is up 16% due to contributions from crude pipeline expansions, higher crude tariffs more than offsetting lower natural gas volumes. The distribution bump occurred sooner than expected. EEP raised its quarterly distribution 3.8% YoY and 2.5% sequentially to $1.0275 per unit ($4.11 annualized). We were not expecting a bump until 4Q. EEP has already met its 2%-5% distribution growth guidance. Assuming no further increases in 2010, EEP will post 3.2% distribution growth. Given EEP's recent outperformance (up 9.8% vs. [the] Alerian MLP Index, up 6.3%, and [the] S&P500, up 8.1% in July) and the announcement of a relatively small crude oil pipeline spill in Michigan, we would not be surprised to see near-term profit-taking in EEP." |
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More Experts
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