MLP Protocol 041114

Key Adjustments:

  • Adjusted Hi-Crush Partners (HCLP) for its 4.25 million common unit offering at $41.29 on April 9 and for the closing of its Augusta Facility acquisition. The offering was a one day marketed deal and was priced at the closing price that day, interestingly the deal price was 2.4% higher than the prior day’s closing price (before the deal was announced).
  • Adjusted Legacy Reserves (LGCY) for its offering of 2 million Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units at $25.
  • Added Enable Midstream Partners (ENBL) to the Gathering & Processing segment after its successful IPO at $20 on April 10.

News Items:

  • April 7 – Evergreen Transloading and Emerge Energy Services (EMES) Announce the Opening of the Sexsmith, Alberta Mega Centre
  • April 10 – Rentech (RTK, RNF) Announces $150 Million Investment from Blackstone’s GSO Capital Partners and Settlement Agreement with Concerned Rentech Shareholders
  • April 10 – Exterran Partners (EXLP) Completes Acquisition of Assets from MidCon Compression
  • April 11 – S&P Affirms ‘BBB’ Corporate Credit Rating on Plains All American Pipeline (PAA) and Revises Outlook to Positive
  • April 12 – MLP Data: Weekly Intelligence For Master Limited Partnership Investors

Links to the Investor Relations websites for all the MLPs can be found here.

Recent IPO Filings:

  • Foresight Energy Partners, LP (FELP) recently filed its 5th amendment to its S-1 and added Barclays as the Left Book Runner (it had been a Citi and Morgan Stanley Joint Books deal prior to this filing).

The MLP Protocol Sprint Portfolio Position Report for April 2014 is now available (based on April 4, 2014 closing prices), the May 2014 report will be available the weekend of May 2.

MLP Protocol Weekly Snapshot report: (click to open) MLPP 041114 Snapshot vFree

About Philip Trinder

President of MLP Protocol, investor, trader, and proponent of Master Limited Partnerships.
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