MLP Protocol 020714

Key Adjustments:

  • Adjusted OCI Partners (OCIP) distribution estimates to be modeled based upon projected methanol, ammonia and natural gas prices.
  • Adjusted Regency Energy Partners (RGP) for the February 3 closing of its Hoover Energy acquisition. (News Releases)
  • Adjusted NuStar Energy (NS) and NuStar GP Holdings (NSH) distribution growth rates to flat / 0% from prior negative growth rates based on 4Q13 earnings release updates and outlook for a Distribution Coverage Ratio of at least 1.00x for the second half and full year 2014. (Press Release)

News Items:

  • February 3 – USA Compression Partners (USAC) filed a mixed shelf registration that included registering ~33.3 million common units for various possible Selling Unitholders (~7.4 million of the units related to the S&R Compression acquisition) and may pressure USAC’s units price until any sales are finalized.   (Filing)
  • February 4 – S&P Rates Seadrill Partners Prelim ‘BB-‘; Outlook Stable
  • February 4 – S&P Rates Regency Energy Partners Senior Unsecured Notes ‘BB’
  • February 5 – S&P Rates Enterprise Products Operating Senior Unsecured Notes ‘BBB+’

The MLP Protocol Monthly Analytics Report for February 2014 is now available (based on January 31, 2014 closing prices), the March 2014 report will be available the weekend of February 28.

The MLP Protocol Sprint Portfolio Position Report for February 2014 is now available (based on February 7, 2014 closing prices), the March 2014 report will be available the weekend of March 8.

MLP Protocol Weekly Snapshot report: (click to open) MLPP 020714 Snapshot vFree

Note: BWP cut its distribution this morning (2/10/14) so its forward yield is now substantially lower. BWP has been on the DCR Watchlist since last fall, as in On Watch for a possible distribution cut.

About Philip Trinder

President of MLP Protocol, investor, trader, and proponent of Master Limited Partnerships.
This entry was posted in Weekly Updates and tagged , , , , , , . Bookmark the permalink.

2 Responses to MLP Protocol 020714

  1. Walter,

    The Monthly Analytics subscription covers all the MLPs broadly but I don’t think I have a product that best suits your specific task on OCIR unless you would like to have some custom work done (which may be cost prohibitive). Please feel free to email me though if you have something specific in mind.

    Best Regards,
    Phil

  2. Walter Kass says:

    Phil:

    I am doing extra work on OCIR which, as you know, is a 51% interest in OCI Wyoming LP; the remainder 49% owned by NRP.

    Which of your products best suits my task?

    Walter Kass Cell: 917.941.3400 Fax: 888.870.4755 (apologies for brevity and spelling errors)

    >

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