American Midstream Announces Drop-down Plan from ArcLight Capital Partners
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August 12, 2015 6:45 AM EDT
(Updated - August 12, 2015 9:04 AM EDT)
UBS upgraded American Midstream (NYSE: AMID) from Sell to Neutral with a price target of $13 (from $10). Analyst Shneur Z. Gershuni noted higher expected distribution growth due to Delta House dropdown.
"AMID announced a dropdown of 25% of ArcLight's 51.7%... More
August 12, 2015 6:45 AM EDT
Barclays upgraded American Midstream (NYSE: AMID) from Equalweight to Overweight with a price target of $20.00.
For an analyst ratings summary and ratings history on American Midstream click here. For more ratings news on American Midstream click here.
Shares of American Midstream closed at $14.39 yesterday.
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August 10, 2015 4:40 PM EDT
American Midstream Partners, LP (NYSE: AMID) (Partnership) today announced the intention of an affiliate of ArcLight Capital Partners, LLC (ArcLight), which controls the general partner of the Partnership, to drop down 25 percent of ArcLights 51.7 percent controlling interest in Delta House, a fee-based, semi-submersible floating production system (FPS) and associated oil and gas export pipelines in the deepwater Gulf of Mexico.
Delta House was financed in December 2012 by an equity consortium led by ArcLight and commenced operations in the second quarter of 2015, at which point ArcLight and American Midstream began formal discussions regarding the proposed drop... More
