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Biz Links Previous Nov 04 Oct 04 Sept 04 August 04 July 04 June 04 May 04 Intro to MLPs Factoids Q3-02 Index Q2-02 Index Q1-02 Index Q4-01 Index Q3-01 Index Q2-01 Index Q1-01 Index MLP Links |
December Summary: The Small-Cap Pipeline sector finished the month up 10.58% year-to-date [vs being up 8.74% at the end of October] with a sector average yield of 6.19% [vs a yield of 6.30% at the end of November - a fall of 11 basis points]. The Larger-Cap Pipeline sector finished the month up 6.00% year-to-date [vs 4.34% at the end of October] with a sector average yield of 6.45% [vs 6.54% at the end of last month - a fall of 9 basis points. The Propane sector finished the month up 10.88% year-to-date [vs 9.12% at the end of last month] with a sector average yield of 7.03% [vs 7.07% last month - a fall of 4 basis points.]. Atlas America Reports Operating Results press release of 12-07 Atlas America reported net income of $6.9 million and $21.2 million for the fourth fiscal quarter and year ended September 30, 2004 as compared to $5.1 million and $13.9 million for the fourth fiscal quarter and year ended September 30, 2003, an increase of 36% and 52%, respectively. Net income per common share-basic and diluted was $.52 and $1.81 for the fourth fiscal quarter and year ended September 30, 2004 as compared to net income per common share-basic and diluted of $0.48 and $1.30 per common share for the fourth fiscal quarter and year ended September 30, 2003, an increase of $0.04 and $0.51, respectively. Earnings before interest, taxes, depreciation, depletion and amortization (EBITDA) were $16.6 million for the fourth fiscal quarter ended September 30, 2004 as compared to $10.6 million for the fourth fiscal quarter ended September 30, 2003, an increase of 57%. For the year ended September 30, 2004, EBITDA was $50.2 million compared to $34.0 million for the year ended September 30, 2003, an increase of 47%. Atlas America is an energy company engaged primarily in the development and production of natural gas in the Appalachian Basin for its own account and for its investors through the offering of tax advantaged investment programs. Atlas America also owns 100% of the general partner of Atlas Pipeline Partners, L.P. APL Increases Distribution press release of 12-17 Atlas Pipeline Partners announces that the Managing Board of Directors of its General Partner has declared a quarterly distribution for the period ending December 31, 2004 in the amount of $.72 per common unit. The distribution will be paid on February 11, 2005 to unit holders of record at the close of business on December 31, 2004. Michael Staines, President and Chief Operating Officer stated: "This distribution, the highest in our history and 15% greater than the comparable distribution of 2003, is the first to include a full quarter contribution from our mid-continent operations. That acquisition has proven to be a great asset to our partnership - one that we expect to build upon in the future." Upgrades & Downgrades press releases from various dates On 11-17 Smith Barney Citigroup downgraded PPX from Buy to Hold PPX. On 11-30 Smith Barney Citigroup downgraded KPP from Buy to Hold. On 12-30 Friedman Billings downgraded PPA from Outperform to Market Perform. In other MLP segments, on 12-30, Friedman Billings downgraded NBP from Outperform to Market Perform. On 12-21 UBS upgraded FGP from Neutral to Buy. Enterprise and Cal Dive Enter Into a Joint Venture press release 12-15 Cal Dive International and Enterprise Products Partners have completed a transaction in which Cal Dive has acquired a 20% interest in Independence Hub, LLC, an affiliate of Enterprise Products Partners L.P. Independence Hub, LLC will own the "Independence Hub" platform to be located in Mississippi Canyon block 920 in a water depth of 8,000 feet. Kinder Morgan Announces 2005 Expectations press release of 12-08 Kinder Morgan Energy Partners (KMP) announced it expects to declare cash distributions of $3.13 per unit for 2005. These expectations include contributions from assets currently owned by Kinder Morgan and do not include any benefits from acquisitions. The 2005 outlook represents 9 percent growth over expected 2004 distributions of $2.87 per unit. The 2005 expectations include an excess of distributable cash flow over distributions even greater than the $28 million of excess budgeted in 2004. Inergy Completes Acquisition of Propane Operations of Star Gas Partners press release of 12-17 Inergy announced today that it has completed the previously-announced acquisition of Star Gas Propane, L.P., the propane operating partnership of Star Gas Partners for approximately $475 million. The acquisition creates the 5th-largest retail propane operator in the United States serving approximately 600,000 customers from approximately 270 customer service centers in 26 states. |