Stock-Callers.com's has argued that the pipeline industry continues to grow on rising demand for pipes, increasing deep drilling operations, and accelerating production of oil. Stocks in focus are Enbridge Inc., Dakota Plains Holdings Inc., Boardwalk Pipeline Partners LP, and Shell Midstream Partners LP. The complimentary research reports are available at:
Shares in Calgary, Canada headquartered Enbridge Inc. closed Monday's session 1.62% higher at $41.98. The stock recorded a trading volume of 491 937 shares. The Company's shares have gained 1.60% in the last month, 10.12% in the previous three months, and 29.37% on an YTD basis. The stock is trading 1.59% and 12.80% above its 50-day and 200-day moving averages, respectively. Additionally, shares of Enbridge Inc., which operates as an energy transportation and distribution company in the US and Canada, have an RSI of 56.18.
On 20 July 2016, research firm Goldman downgraded the Company's stock rating from 'Buy' to 'Neutral'.
On July 29 2016, Enbridge reported adjusted EBIT of US$1089 million and available cash flow from operations (ACFFO) of US$868 million for 2Q16.
Dakota Plains Holdings
Wayzata, Minnesota headquartered Dakota Plains Holdings Inc.'s stock finished the session 3.85% lower at US$0.03 with a total volume of 85 602 shares traded. Shares of the Company, which through its subsidiaries, is primarily engaged in the crude oil transportation business, are trading 69.38% below their 50-day moving average. The stock has a Relative Strength Index (RSI) of 32.47.
As per notes filed with the SEC on 8 August 2016, Dakota Plains Holdings and certain of its subsidiaries entered into an Amendment to Revolving Credit and Term Loan Agreement and One Time Waiver of Revolving Loan Borrowing Requirements, on August 5th, 2016. Among other things, the Amendment amends the Existing Credit Agreement to increase the Aggregate Revolving Commitment Amount to US$21 500 000. Pursuant to the Amendment, the Lenders also agreed to make a one-time waiver of certain revolving loan borrowing requirements to allow a funding in the amount of US$1 000 000, which was made on 5 August 2016. The complimentary research report on DAKP can be accessed at:
Boardwalk Pipeline Partners
On Monday, shares in Houston, Texas headquartered Boardwalk Pipeline Partners L.P. recorded a trading volume of 373 127 shares. The stock ended the session 0.06% higher at US$17.03. The Company's shares have advanced 7.99% in the previous three months and 33.26% since the start of this year. The stock is trading 20.74% above its 200 day moving average. Moreover, shares of Boardwalk Pipeline Partners, which through its subsidiaries, provides transportation, storage, gathering, and processing services for natural gas, and natural gas liquids and other hydrocarbons in the US, have an RSI of 49.75.
On 21 July 2016, research firm Ladenburg Thalmann downgraded the Company's stock rating from 'Buy' to 'Neutral'.
On August 1st, 2016, Boardwalk Pipeline Partners announced operating revenues of US$306.3 million for 2Q16, a 3% increase from $298.6 million in Q2 2015. The company's net income was US$65.7 million for the quarter, a 63% increase from US$40.4 million in 2Q15. The company also declared a quarterly cash distribution per common unit of US$0.10 ($0.40 annualized) payable on August 18th, 2016, to unit-holders of record as of August 11th, 2016.
Shell Midstream Partners
At the close, shares in Houston, Texas-based Shell Midstream Partners L.P. ended the day at $31.51, gaining 2.01%. The stock recorded a trading volume of 316,041 shares. The Company's shares are trading below their 50-day moving average by 3.66%. Furthermore, shares of Shell Midstream Partners, which owns, operates, develops, and acquires pipelines and other midstream assets in the US, have an RSI of 40.93.
On July 25th, 2016, Shell Midstream Partners announced that it has agreed to acquire a 2.62% equity interest in Explorer Pipeline Co.
Edited from press release by Angharad Lock
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/10082016/oil-and-gas-stocks-703/