|Bid||5.37 x 1200|
|Ask||5.45 x 2900|
|Day's range||5.06 - 5.69|
|52-week range||3.75 - 15.87|
|Beta (5Y monthly)||1.55|
|PE ratio (TTM)||4.02|
|Forward dividend & yield||1.22 (23.37%)|
|Ex-dividend date||05 May 2020|
|1y target est||N/A|
The Lake Charles, Louisiana, facility is one of several LNG export projects worldwide that have been delayed in recent months by the collapse in global energy prices. The crash in oil and gas prices has caused major LNG exporters like Qatar and oil giant Exxon Mobil Corp , however, to put off gigantic new facilities or expansions of existing projects. U.S. gas prices have recently dropped to their lowest since 1995.
Pipeline Master Limited Partnerships were once some of Wall Street’s favorite energy money-makers, but they’ve become risky as oil prices have tanked
(Bloomberg) -- Shale insiders are swooping in to buy stock in their ailing firms this week after an oil price war erupted between Saudi Arabia and Russia late Sunday.The purchases come as many shares are trading at record lows, and companies have responded by slashing capital spending and operating costs to protect their balance sheets in the midst of weak crude oil prices.Ray Davis, Energy Transfer LP board member and co-owner of Major League Baseball’s Texas Rangers, scooped up 1.28 million shares in the pipeline company at an average price of $7.77 on March 9, according to a filing. The Texas-based billionaire is the fifth largest holder in Energy Transfer with about a 3.3% stake, according to data compiled by Bloomberg.Another purchase came from NuStar Energy LP Chairman William Greehey, who bought 200,000 NuStar shares at an average price of $12.24, according to a filing. Greehey is the third largest holder in the midstream firm, with a 9.02% stake, Bloomberg data show.Elsewhere, Travis Stice, CEO of shale driller Diamondback Energy Inc., bought 17,146 indirectly owned shares at an average price of $28.40 on March 10, a filing showed. Range Resources Corp. board member Steffen Palko also bought 903,128 shares for an average price of $2.20, increasing his holdings in the underperforming natural gas driller to 1 million shares.Since February 20, oil and gas insiders have spent about $93 million purchasing their companies’ stocks, according to data compiled by the Washington Service.See more purchases here.(Updates with data from Washington Service in 6th paragraph.)\--With assistance from Miles Weiss.To contact the reporter on this story: Michael Bellusci in Toronto at email@example.comTo contact the editors responsible for this story: Courtney Dentch at firstname.lastname@example.org, Scott Schnipper, Jennifer Bissell-LinskFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- Goldman Sachs Group Inc. asset managers cut borrowing for two energy funds, which saw their top holdings fall by one-third in two days amid “unprecedented” volatility in commodity prices, resulting in a “material impact” on their net asset value.The bank has decided to “effectively eliminate the net leverage” of its MLP Income Opportunities Fund and MLP and Energy Renaissance Fund, its asset management arm said in separate statements. The funds had combined assets of about $590 million at the end of January, mainly in master limited partnerships that operate U.S. oil and gas pipelines and terminals, according to the company’s website. Leverage for the MLP Income fund was 39.21% and for the Energy Renaissance fund was 37.97% at that time, according to the website.The move is a sign of the wide-ranging impact from the oil price collapse, which is threatening America’s booming output and exports, and could make defaults and bankruptcies more likely across shale drillers.A gauge of oil market volatility in the U.S. on Monday rose to the highest level in records dating back to 2007 as crude prices crashed amid the dissolution of the OPEC-Russia alliance and the spread of the coronavirus. Energy Transfer LP, the top holding in both funds, has fallen 34% since Thursday, while the second-largest holding, Targa Resources Corp., was down 60%.Goldman’s funds “incurred significant interest rate breakage costs” by terminating fixed rate borrowings, it said in the statements. “The recent market volatility coupled with the effective elimination of leverage has resulted in a material impact to the Fund’s net asset value,” it said, without elaborating on the scale.MLPs were once the darlings of the energy investment world, benefiting from U.S. regulation that allowed them to avoid paying corporate taxes and instead pass on cash to shareholders, who were then levied on the quarterly payouts. They received the tax designation because they owned energy infrastructure like pipelines and terminals, which were in high demand as the shale boom boosted oil and gas production and the need to move it to markets.That tax policy changed in 2018, and now the companies face heightened fears that the crude price crash will slow oil and gas production and leave them with less money to pay down debt and fund their lucrative distributions.(Updates with chart and background.)To contact the reporter on this story: Dan Murtaugh in Singapore at email@example.comTo contact the editors responsible for this story: Ramsey Al-Rikabi at firstname.lastname@example.org, Rob VerdonckFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Energy Transfer (ET) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
Energy Transfer's (ET) fourth-quarter earnings are likely to have benefited from the fee-based business and completion of project backlog.
Energy Transfer has brought U.S.-based employees back from its Beijing office, CEO Kelcy Warren said at the Argus Americas Crude Summit in Houston. The company and Royal Dutch Shell have an agreement to develop Energy Transfer's existing Lake Charles LNG import facility on the U.S. Gulf Coast for LNG export, but the project has not received final investment approvals.
SemGroup's (SEMG) Canadian unit witnesses growth on the back of higher average gas processing volumes owing to incremental contribution from new plants like Patterson Creek and Wapiti.
Investing.com - Energy Transfer units fell sharply Wednesday after the FBI launched a probe into how its Mariner East project won permits to construct a natural gas pipeline in Pennsylvania.
Energy Transfer (ET) plans to report its Q3 earnings today after the bell. ET has reported significant earnings growth in the last several quarters.