MLP Protocol 050214

Key Adjustments:

  • Adjusted EQT Midstream Partners (EQM) for its 10.75 million common unit offering (upsized from 8.75 million units) at $75.75 (1.7% discount) on May 1 and made pro forma adjustments for its announced $1.18 Billion Jupiter Gathering System drop down acquisition from EQT Corp. (EQT).
  • Adjusted Ferrellgas Partners (FGP) for its Sable Environmental acquisition.

News Items:

  • April 28 – Energy Transfer Partners (ETP) to acquire Susser Holdings in $1.8B deal (also impacts Susser Petroleum Partners SUSP)
  • April 28 – Moody’s Assigns B1 Rating To SunCoke Energy Partners (SXCP) Sr. Unsec. Notes; Outlook Stable
  • April 28 – Moody’s Affirms Energy Transfer Partners’ (ETP) Baa3 And Energy Transfer Equity’s (ETE) Ba2 Ratings
  • April 28 – Williams Partners (WPZ) plans to restart most of Opal facility after shutdown
  • April 28 – Williams (WMB) suspends capital investments in Bluegrass Pipeline project
  • April 28 – EPB to Purchase Natural Gas Assets from Kinder Morgan, Inc. for Approximately $2 Billion
  • April 29 – S&P Lowers SunCoke Energy Partners Issue Rating To ‘B+’
  • April 29 – Westlake (WLK) Announces Filing of Registration Statement for Westlake Chemical Partners (WLKP) Initial Public Offering, S-1 Filing
  • April 29 – Eagle Rock (EROC) Announces Unitholder Approval of Midstream Business Contribution to Regency (RGP)
  • April 30 – EQT Midstream Partners (EQM) to Acquire Jupiter Gathering System from EQT
  • May 1 – Williams Partners (WPZ) Brings Two Units Back into Service at its Opal, Wyo. Gas-Processing Plant
  • May 1 – Ferrellgas (FGP) to Establish Midstream Division With Agreement to Acquire Sable Environmental
  • May 1 – Atlas Pipeline Partners (APL) Announces Start-Up of Stonewall Processing Plant in Southern Oklahoma
  • May 1 – Oil on derailed CSX train belonged to Plains All American (PAA)
  • May 2 – Crestwood Midstream (CMLP) Files to Offer Up to $300M of Units
  • May 3 – MLP Data: Weekly Intelligence For Master Limited Partnership Investors

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

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

MLP Protocol Weekly Snapshot report: (click to open) MLPP 050214 Snapshot vFree

About Philip Trinder

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