NEW YORK, March 1, 2017 /PRNewswire/ --
Operators in the Oil and Gas Pipelines space transport fuel through pipelines, often over great distances. Most of the companies in this industry are structured as master limited partnerships, and these stocks usually offer very high dividend yields. Pre-market, Stock-Callers.com tracks the performances of: Magellan Midstream Partners L.P. (NYSE: MMP), Plains GP Holdings L.P. (NYSE: PAGP), Centennial Resource Development Inc. (NASDAQ: CDEV), and TransCanada Corp. (NYSE: TRP). Sign up today and download for free the research reports for the stocks covered today at:
Magellan Midstream Partners
Tulsa, Oklahoma headquartered Magellan Midstream Partners L.P.'s stock finished Tuesday's session 0.28% higher at $77.51 with a total trading volume of 487,798 shares. Over the previous three months and since the start of this year, the Company's shares have advanced 12.83% and 3.59%, respectively. The stock is trading above its 50-day and 200-day moving averages by 1.34% and 9.19%, respectively. Moreover, shares of Magellan Midstream Partners, which engages in the transportation, storage, and distribution of refined petroleum products and crude oil in the US, have a Relative Strength Index (RSI) of 44.97.
On February 02nd, 2017, Magellan Midstream Partners reported net income of $213.3 million for Q4 2016 compared to $207.1 million for Q4 2015 driven by record quarterly results for the partnership's crude oil and marine storage segments. The Company's distributable cash flow was a record $277.2 million for Q4 2016 compared to $256.9 million for Q4 2015.
On February 06th, 2017, research firm Mizuho reiterated its 'Neutral' rating on the Company's stock with an increase of the target price from $73 a share to $74 a share. MMP complete research report is just a click away at:
Shares in Houston, Texas-based Plains GP Holdings L.P. climbed 1.05%, ending yesterday's session at $32.87. A total volume of 3.13 million shares was traded, which was above their three months average volume of 1.25 million shares. The stock has gained 1.26% in the past month. The Company's shares are trading 7.44% above their 200-day moving average. Moreover, shares of Plains GP Holdings, which together with its subsidiaries, owns and operates midstream energy infrastructure in the US and Canada, have an RSI of 52.53.
On February 23rd, 2017, Plains GP Holdings announced that it has priced an upsized underwritten public offering of 42,000,000 of its Class A shares representing limited partner interests. The total gross proceeds of the offering will be approximately $1.3 billion. The Partnership has also granted the underwriters a 30-day option to purchase up to 6,300,000 additional Class A shares. The offering is expected to close on March 01st, 2017, subject to customary closing conditions. The complimentary report on PAGP can be downloaded at:
Centennial Resource Development
On Tuesday, Denver, Colorado-based Centennial Resource Development Inc.'s stock saw a decline of 3.74%, to close the day at $18.81. A total volume of 1.86 million shares was traded, which was higher than their three months average volume of 1.03 million shares. The Company's shares have advanced 1.13% in the last one month. The stock is trading 0.66% above its 200-day moving average. Additionally, shares of Centennial Resource Development, which together with its subsidiary, Centennial Resource Production, LLC, operates as an independent oil and natural gas company in the US, have an RSI of 51.16.
On February 27th, 2017, Centennial, announced that it intends to deliver a notice on March 01st, 2017 for the redemption of all of its outstanding warrants originally sold as part of units in its initial public offering in February 2016. On March 31st, 2017, all Public Warrants that have not been exercised by that date will be redeemed by the Company at a price of $0.01 per Public Warrant. Sign up for your complimentary report on CDEV at:
Shares in Calgary, Canada headquartered TransCanada Corp. ended the day 0.54% lower at $45.99. A total volume of 1.23 million shares was traded, which was above their three months average volume of 927,000 shares. The stock has gained 2.00% in the previous three months and 1.86% since the start of this year. The Company's shares are trading above their 200-day moving average by 2.09%. Furthermore, shares of TransCanada, which operates as an energy infrastructure company in North America, have an RSI of 38.89.
On February 27th, 2017, TransCanada announced that it has offered to sell a 49.3% interest in Iroquois Gas Transmission System, L.P., together with its remaining 11.8% interest in Portland Natural Gas Transmission System (PNGTS), subject to satisfactory negotiation of terms, compliance with any applicable regulatory requirements, and Partnership Board approval, to its master limited partnership, TC PipeLines, L.P. TransCanada's Board of Directors has approved the sales of Iroquois and PNGTS. Download the research report for free on TRP at:
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