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GLOG

GasLog

$16.85

-0.1 (-0.59%)

, GLOP

GasLog Partners

$22.50

0.2 (0.90%)

07:09
09/15/17
09/15
07:09
09/15/17
07:09

GasLog Partners acquires Solaris from GasLog for $185.9M

GasLog Partners LP (GLOP) and GasLog (GLOG) announced that they have approved entering into an agreement for the Partnership to purchase from GasLog 100% of the shares in the entity that owns and charters Solaris. The aggregate purchase price for the Acquisition will be $185.9M, which includes $1M for positive net working capital balances to be transferred with the vessel. GasLog Partners expects to finance the acquisition with cash on hand and the assumption of $117M of Solaris' existing debt. The Acquisition is expected to close in the fourth quarter of 2017 and is subject to satisfaction of certain customary closing conditions. The board of GasLog, the board of GasLog Partners and the Conflicts Committee of the board have approved the Acquisition. Solaris is a 155,000 cubic meter tri-fuel diesel electric liquefied natural gas carrier built in 2014. The vessel is currently on a multi-year time charter with a wholly owned subsidiary of Royal Dutch Shell (RDS.A, RDS.B) through June 2021. Shell has two consecutive extension options which, if exercised, would extend the charter for a period of either five or ten years. The Partnership believes that the Acquisition will be immediately accretive to distributable cash flow per unit and is consistent with its strategy to grow cash distributions through dropdown and third-party acquisitions. GasLog Partners estimates that Solaris will add approximately $20M to EBITDA in the first 12 months after closing. Accordingly, the Acquisition purchase price represents a multiple of approximately 9.2x estimated EBITDA.

GLOG

GasLog

$16.85

-0.1 (-0.59%)

GLOP

GasLog Partners

$22.50

0.2 (0.90%)

RDS.A

Royal Dutch Shell

$57.79

0.35 (0.61%)

RDS.B

Royal Dutch Shell

$59.40

0.34 (0.58%)

GLOG GasLog
$16.85

-0.1 (-0.59%)

09/13/17
DNBM
09/13/17
DOWNGRADE
DNBM
Hold
GasLog downgraded to Hold from Buy at DNB Markets
06/13/17
06/13/17
UPGRADE
Target $17

Overweight
GasLog upgraded to Overweight on improved liquidity position at Morgan Stanley
As previously reported, Morgan Stanley upgraded GasLog to Overweight from Equal Weight and raised its price target to $17 from $16.50. Analyst Fotis Giannakoulis said the balance sheet has been significantly strengthened following recent enhancements, removing uncertainty regarding its liquidity position. The analyst said shares are pricing in near-term weakness and have limited downside and expects GasLog to benefit from tightening in the LNG shipping market.
06/13/17
MSCO
06/13/17
UPGRADE
MSCO
Overweight
GasLog upgraded to Overweight from Equal Weight at Morgan Stanley
09/13/17
09/13/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. ON Semiconductor (ON) downgraded to Neutral from Buy at Goldman Sachs with analyst Mark Delaney citing the stock's relative outperformance and lack of catalysts over the next year. 2. Nordstrom (JWN) downgraded to Hold from Accumulate at Gordon Haskett. 3. Mallinckrodt (MNK) downgraded to Neutral from Buy at Mizuho with analyst Irina Koffler saying Mallinckrodt consists of a gradually declining generics portfolio, and a "basket" of branded assets that face some degree of competition and downside risks. 4. Whiting Petroleum (WLL) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Drew Venker citing weak risk-reward relative to peers. 5. GasLog (GLOG) downgraded to Hold from Buy at DNB Markets. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
GLOP GasLog Partners
$22.50

0.2 (0.90%)

04/21/17
LEHM
04/21/17
INITIATION
Target $26
LEHM
Equal Weight
GasLog Partners initiated with an Equal Weight at Barclays
Barclays analyst Richard Gross started GasLog Partners with an Equal Weight rating and $26 price target.
11/21/16
STFL
11/21/16
INITIATION
STFL
Buy
GasLog Partners initiated with a Buy at Stifel
Stifel analyst Benjamin Nolan initiated coverage of GasLog with a $24 price target and a Buy rating.
06/13/17
MSCO
06/13/17
UPGRADE
MSCO
Overweight
GasLog Partners upgraded to Overweight from Equal Weight at Morgan Stanley
Morgan Stanley analyst Fotis Giannakoulis upgraded GasLog Partners (GLOP) to Overweight from Equal Weight and raised its price target to $25.50 from $23.50 citing a solid 9% yield and higher distribution growth ahead.
11/02/16
MSCO
11/02/16
DOWNGRADE
Target $22
MSCO
Equal Weight
GasLog Partners downgraded to Equal Weight from Overweight at Morgan Stanley
Morgan Stanley analyst Fotis Giannakoulis downgraded GasLog Partners to Equal Weight but raised its price target to $22 from $20 saying to take profits on recent outperformance.
RDS.A Royal Dutch Shell
$57.79

0.35 (0.61%)

06/21/17
MACQ
06/21/17
DOWNGRADE
MACQ
Neutral
Royal Dutch Shell downgraded to Neutral from Outperform at Macquarie
Macquarie analyst Iain Reid downgraded Royal Dutch Shell to Neutral following a reduction in the firm's oil price estimates saying the majors will likely slip back into deficits and have further, painful cost reductions. The firm lowered its its second half 2017 Brent forecast to $54.15 from $58.76 and WTI forecast to $52.15 from $56.75, 2018 Brent forecast to $49.33 from $55.75 and WTI forecast to $46.08 from $52.50, and 2019 Brent forecast to $65 from $70 and WTI forecast to $60 from $65.
07/19/17
BERN
07/19/17
NO CHANGE
BERN
Worries about European LNG overdone, says Bernstein
Bernstein analyst Oswald Clint says that worries about the European LNG sector are overdone given strong demand and relatively low imports from the U.S. The analyst says that "Statoil (STO) and Shell (RDS.A) are the most exposed to European gas and LNG respectively." He keeps Outperform rating son both stocks.
05/26/17
EXAN
05/26/17
UPGRADE
EXAN
Outperform
Royal Dutch Shell upgraded to Outperform from Neutral at Exane BNP Paribas
Exane BNP Paribas analyst Theepan Jothilingam upgraded Royal Dutch Shell to Outperform from Neutral.
07/11/17
BERN
07/11/17
NO CHANGE
BERN
Oil price forecast cut at Bernstein
Bernstein analysts lowered their 2017 and 2018 oil price forecasts to $50 per barrel for both years. As reasons for the drop, the firm cited higher U.s. shale efficiency, their belief that elevated production levels will last longer than previously expected, and their belief that OPEC cuts will be insufficient to counter increased production by Libya, Iran and Nigeria. Publicly traded companies in the oil space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT).
RDS.B Royal Dutch Shell
$59.40

0.34 (0.58%)

10/14/16
10/14/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Royal Dutch Shell (RDS.A, RDS.B) downgraded to Sell from Hold at Canaccord with the firm citing the gap between the average free cash flow generation of Shell over the past two decades and the medium-term target. 2. bluebird bio (BLUE) downgraded to Sell from Hold at Cantor with analyst Elemer Piros saying he sees a lack of catalysts as he does not expect data to be announced at this year's American Society of Hematology conference to de-risk the hemoglobinopathy programs. 3. Fluor (FLR) downgraded to Neutral from Accumulate at Seaport Global with analyst Ryan Cassil citing persistently weaker global macroeconomic trends and expectations for a continuation of weaker project activity in 2017. 4. Boston Beer (SAM) downgraded to Hold from Buy at Berenberg. 5. Estee Lauder (EL) downgraded to Neutral from Overweight at Piper Jaffray after the firm's semi-annual proprietary "Taking Stock With Teens" survey. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/10/17
BMOC
01/10/17
UPGRADE
BMOC
Outperform
Royal Dutch Shell upgraded to Outperform from Market Perform at BMO Capital
BMO Capital analyst Brendan Warn upgraded Royal Dutch Shell, citing OPEC's production cut deal. He thinks that the company can benefit significantly from the deal which he says will limit the downside risk to oil prices.

TODAY'S FREE FLY STORIES

DSW

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VMW

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GS

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BAH

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CMTL

Comtech

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ACLS

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, AMAT

Applied Materials

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  • 17

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FAST

Fastenal

$55.44

-0.15 (-0.27%)

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  • 17

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GS

Goldman Sachs

$253.61

-4.855 (-1.88%)

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MVC

MVC Capital

$10.70

-0.02 (-0.19%)

09:59
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Conference/Events
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  • 18

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KEYW

KEYW

$6.46

0.09 (1.41%)

09:58
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RIOT

Riot Blockchain

$18.28

-3.6 (-16.45%)

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  • 01

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LRCX

Lam Research

$190.39

1.88 (1.00%)

, MNST

Monster Beverage

$64.56

0.79 (1.24%)

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LRCX

Lam Research

$190.39

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Monster Beverage

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IBM

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IFF

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KLAC

KLA-Tencor

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DIS

Disney

$110.92

0.23 (0.21%)

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AMZN

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, HD

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FB

Facebook

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MRK

Merck

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OPGN

OpGen

$0.19

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ACLS

Axcelis

$30.30

1.15 (3.95%)

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  • 17

    Jan

XLF

Financial Select Sector

$29.16

0.01 (0.03%)

, XLE

Energy Select Sector SPDR

$76.69

0.25 (0.33%)

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XLF

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XLP

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SPY

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SPX

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QADB

QAD Inc

$31.80

0.05 (0.16%)

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ITIC

Investors Title Company

$199.00

3.26 (1.67%)

09:50
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Breaking Hot Stocks news story on Investors Title Company »

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XLP

Consumer Staples Sector SPDR

$57.07

0.16 (0.28%)

09:45
01/17/18
01/17
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Technical Analysis
Technical Take: Consumer Staples Sector SPDR nearing breakout »

The Consumer Staples…

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