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Plains All American, GP Holdings cut to Underperform at BofA » 06:44
05/18/20
05/18
06:44
05/18/20
06:44
PAA

Plains All American

$8.46 /

+0.3 (+3.68%)

, PAGP

Plains GP Holdings

$8.78 /

+0.245 (+2.87%)

, KMI

Kinder Morgan

$14.84 /

-0.015 (-0.10%)

, MMP

Magellan Midstream

$41.85 /

+0.39 (+0.94%)

, MPLX

MPLX

$18.11 /

+0.515 (+2.93%)

BofA analyst Ujjwal…

BofA analyst Ujjwal Pradhan downgraded Plains All American (PAA) and Plains GP Holdings (PAGP) to Underperform as part of a broader sector note to reflect the crude inventory overhang and uncertain pace of demand recovery, with downside risks coming from tariff headwinds given their "predominantly crude midstream business". The analyst prefers Kinder Morgan (KMI) and Magellan Midstream (MMP) given their material exposure to refined products and also offers a positive view on MPLX (MPLX) based on the improving dry gas outlook. Pradhan also likes the resilient base businesses and strong balance sheets of Kinder Morgan and Magellan Midstream.

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PAGP Plains GP Holdings
$8.78 /

+0.245 (+2.87%)

PAA Plains All American
$8.46 /

+0.3 (+3.68%)

MPLX MPLX
$18.11 /

+0.515 (+2.93%)

MMP Magellan Midstream
$41.85 /

+0.39 (+0.94%)

KMI Kinder Morgan
$14.84 /

-0.015 (-0.10%)

PAA Plains All American
$8.46 /

+0.3 (+3.68%)

05/18/20 BofA
Plains All American downgraded to Underperform from Neutral at BofA
04/28/20 Mizuho
Plains All American price target lowered to $13 from $25 at Mizuho
04/14/20 RBC Capital
Plains All American price target lowered to $8 from $11 at RBC Capital
PAGP Plains GP Holdings
$8.78 /

+0.245 (+2.87%)

05/18/20 BofA
Plains GP Holdings downgraded to Underperform from Neutral at BofA
04/02/20 Credit Suisse
Plains GP Holdings downgraded to Neutral from Outperform at Credit Suisse
03/24/20 Barclays
Plains GP Holdings downgraded to Equal Weight from Overweight at Barclays
KMI Kinder Morgan
$14.84 /

-0.015 (-0.10%)

04/07/20 Mizuho
Kinder Morgan price target lowered to $20 from $23 at Mizuho
03/24/20 Barclays
Kinder Morgan upgraded to Overweight from Equal Weight at Barclays
03/16/20 Morgan Stanley
Morgan Stanley shakes up Midstream ratings in expectation of continued pressure
03/16/20 Morgan Stanley
Kinder Morgan upgraded to Equal Weight from Underweight at Morgan Stanley
MMP Magellan Midstream
$41.85 /

+0.39 (+0.94%)

05/07/20 Credit Suisse
Magellan Midstream price target raised to $48 from $42 at Credit Suisse
04/14/20
Jefferies upgrades three midstream stocks despite estimate cuts
04/14/20 Jefferies
Magellan Midstream upgraded to Buy from Hold at Jefferies
04/02/20 Credit Suisse
Magellan Midstream upgraded to Outperform from Neutral at Credit Suisse
MPLX MPLX
$18.11 /

+0.515 (+2.93%)

05/01/20 Citi
Antero Midstream downgraded to Neutral from Buy at Citi
04/27/20 Citi
MPLX price target lowered to $21 from $32 at Citi
04/02/20 Credit Suisse
MPLX upgraded to Outperform from Neutral at Credit Suisse
03/24/20 Barclays
MPLX upgraded to Overweight from Equal Weight at Barclays
PAGP Plains GP Holdings
$8.78 /

+0.245 (+2.87%)

PAA Plains All American
$8.46 /

+0.3 (+3.68%)

MPLX MPLX
$18.11 /

+0.515 (+2.93%)

MMP Magellan Midstream
$41.85 /

+0.39 (+0.94%)

KMI Kinder Morgan
$14.84 /

-0.015 (-0.10%)

MPLX MPLX
$18.11 /

+0.515 (+2.93%)

KMI Kinder Morgan
$14.84 /

-0.015 (-0.10%)

PAA Plains All American
$8.46 /

+0.3 (+3.68%)

PAGP Plains GP Holdings
$8.78 /

+0.245 (+2.87%)

PAA Plains All American
$8.46 /

+0.3 (+3.68%)

MPLX MPLX
$18.11 /

+0.515 (+2.93%)

MMP Magellan Midstream
$41.85 /

+0.39 (+0.94%)

KMI Kinder Morgan
$14.84 /

-0.015 (-0.10%)

Conference/Events
Kinder Morgan participates in a conference call with JPMorgan » 11:25
05/15/20
05/15
11:25
05/15/20
11:25
KMI

Kinder Morgan

$14.86 /

+0.01 (+0.07%)

Energy Analyst Tonet…

Energy Analyst Tonet holds a conference call with President Dang on May 15 at 12 pm hosted by JPMorgan.

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KMI Kinder Morgan
$14.86 /

+0.01 (+0.07%)

KMI Kinder Morgan
$14.86 /

+0.01 (+0.07%)

04/07/20 Mizuho
Kinder Morgan price target lowered to $20 from $23 at Mizuho
03/24/20 Barclays
Kinder Morgan upgraded to Overweight from Equal Weight at Barclays
03/16/20 Morgan Stanley
Morgan Stanley shakes up Midstream ratings in expectation of continued pressure
03/16/20 Morgan Stanley
Kinder Morgan upgraded to Equal Weight from Underweight at Morgan Stanley
KMI Kinder Morgan
$14.86 /

+0.01 (+0.07%)

KMI Kinder Morgan
$14.86 /

+0.01 (+0.07%)

KMI Kinder Morgan
$14.86 /

+0.01 (+0.07%)

KMI Kinder Morgan
$14.86 /

+0.01 (+0.07%)

Conference/Events
Kinder Morgan participates in a conference call with JPMorgan » 04:55
05/15/20
05/15
04:55
05/15/20
04:55
KMI

Kinder Morgan

$14.85 /

+0.13 (+0.88%)

Energy Analyst Tonet…

Energy Analyst Tonet holds a conference call with President Dang on May 15 at 12 pm hosted by JPMorgan.

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KMI Kinder Morgan
$14.85 /

+0.13 (+0.88%)

KMI Kinder Morgan
$14.85 /

+0.13 (+0.88%)

04/07/20 Mizuho
Kinder Morgan price target lowered to $20 from $23 at Mizuho
03/24/20 Barclays
Kinder Morgan upgraded to Overweight from Equal Weight at Barclays
03/16/20 Morgan Stanley
Morgan Stanley shakes up Midstream ratings in expectation of continued pressure
03/16/20 Morgan Stanley
Kinder Morgan upgraded to Equal Weight from Underweight at Morgan Stanley
KMI Kinder Morgan
$14.85 /

+0.13 (+0.88%)

KMI Kinder Morgan
$14.85 /

+0.13 (+0.88%)

KMI Kinder Morgan
$14.85 /

+0.13 (+0.88%)

KMI Kinder Morgan
$14.85 /

+0.13 (+0.88%)

Conference/Events
Kinder Morgan participates in a conference call with JPMorgan » 12:50
05/11/20
05/11
12:50
05/11/20
12:50
KMI

Kinder Morgan

$15.39 /

+0.045 (+0.29%)

Energy Analyst Tonet…

Energy Analyst Tonet holds a conference call with President Dang on May 15 at 12 pm hosted by JPMorgan.

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KMI Kinder Morgan
$15.39 /

+0.045 (+0.29%)

04/07/20 Mizuho
Kinder Morgan price target lowered to $20 from $23 at Mizuho
03/24/20 Barclays
Kinder Morgan upgraded to Overweight from Equal Weight at Barclays
03/16/20 Morgan Stanley
Morgan Stanley shakes up Midstream ratings in expectation of continued pressure
03/16/20 Morgan Stanley
Kinder Morgan upgraded to Equal Weight from Underweight at Morgan Stanley
Over a month ago
Options
Kinder Morgan call volume above normal and directionally bullish » 10:25
04/23/20
04/23
10:25
04/23/20
10:25
KMI

Kinder Morgan

$14.45 /

-0.19 (-1.30%)

Bullish option flow…

Bullish option flow detected in Kinder Morgan with 5,903 calls trading, 3x expected, and implied vol increasing almost 7 points to 72.73%. 5/1 weekly 15 calls and Jun-20 20 calls are the most active options, with total volume in those strikes near 3,800 contracts. The Put/Call Ratio is 0.26. Earnings are expected on July 15th.

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KMI Kinder Morgan
$14.45 /

-0.19 (-1.30%)

04/07/20 Mizuho
Kinder Morgan price target lowered to $20 from $23 at Mizuho
03/24/20 Barclays
Kinder Morgan upgraded to Overweight from Equal Weight at Barclays
03/16/20 Morgan Stanley
Morgan Stanley shakes up Midstream ratings in expectation of continued pressure
03/16/20 Morgan Stanley
Kinder Morgan upgraded to Equal Weight from Underweight at Morgan Stanley
Earnings
Kinder Morgan sees FY20 adjusted EBITDA below plan by about 8% » 16:07
04/22/20
04/22
16:07
04/22/20
16:07
KMI

Kinder Morgan

$14.74 /

+0.285 (+1.97%)

For 2020, KMI's…

For 2020, KMI's budget contemplated DCF of approximately $5.1 billion ($2.24 per common share) and Adjusted EBITDA of approximately $7.6 billion. Because of the COVID-19 pandemic-related reduced energy demand and the sharp decline in commodity prices, the company now expects DCF to be below plan by approximately 10 percent and Adjusted EBITDA to be below plan by approximately 8 percent. As a result, KMI now expects to end 2020 with a Net Debt-to-Adjusted EBITDA ratio of approximately 4.6 times, consistent with our long-term objective of around 4.5 times. Because considerable uncertainty exists with respect to the future pace and extent of a global economic recovery from the effects of the COVID-19 pandemic, Table 8 below provides assumptions and sensitivities for impacts on our business that may be affected by that uncertainty. Market conditions also result in a number of planned expansion projects no longer meeting our internal return thresholds, and we are therefore reducing the budgeted $2.4 billion expansion projects and contributions to joint ventures for 2020 by approximately $700 million. With this reduction, DCF less expansion capital expenditures is improved by approximately $200 million compared to budget, helping to keep our balance sheet strong. KMI expects to use internally generated cash flow to fully fund its 2020 dividend payments, as well as all of its 2020 discretionary spending, with no need to access equity markets.

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KMI Kinder Morgan
$14.74 /

+0.285 (+1.97%)

04/07/20 Mizuho
Kinder Morgan price target lowered to $20 from $23 at Mizuho
03/24/20 Barclays
Kinder Morgan upgraded to Overweight from Equal Weight at Barclays
03/16/20 Morgan Stanley
Morgan Stanley shakes up Midstream ratings in expectation of continued pressure
03/16/20 Morgan Stanley
Kinder Morgan upgraded to Equal Weight from Underweight at Morgan Stanley
Hot Stocks
Kinder Morgan raises annual dividend 5% to $1.05 » 16:06
04/22/20
04/22
16:06
04/22/20
16:06
KMI

Kinder Morgan

$14.72 /

+0.265 (+1.83%)

"The board…

"The board deliberated thoughtfully with regard to this quarter's dividend," said KMI Executive Chairman Richard D. Kinder. "While we have the financial wherewithal to pay our previously planned dividend increase, with significant coverage, in unprecedented times such as these, the wise choice is to preserve flexibility and balance sheet capacity. Consequently, we are not increasing the dividend to the $1.25 annualized that we projected, under far different circumstances, in July of 2017. Nevertheless, as a sign of our confidence in the strength of our business and the security of our cash flows, we are increasing the dividend to $1.05 annualized, a five percent increase. In doing so, we believe we have struck the proper balance between maintaining balance sheet strength and returning value to our shareholders. We remain committed to increasing the dividend to $1.25 annualized. Assuming a return to normal economic activity, we would expect to make that determination when the board meets in January 2021 to determine the dividend for the fourth quarter of 2020."

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KMI Kinder Morgan
$14.72 /

+0.265 (+1.83%)

04/07/20 Mizuho
Kinder Morgan price target lowered to $20 from $23 at Mizuho
03/24/20 Barclays
Kinder Morgan upgraded to Overweight from Equal Weight at Barclays
03/16/20 Morgan Stanley
Morgan Stanley shakes up Midstream ratings in expectation of continued pressure
03/16/20 Morgan Stanley
Kinder Morgan upgraded to Equal Weight from Underweight at Morgan Stanley
Earnings
Kinder Morgan reports Q1 adjusted EPS 24c, consensus 27c » 16:06
04/22/20
04/22
16:06
04/22/20
16:06
KMI

Kinder Morgan

$14.73 /

+0.275 (+1.90%)

Reports Q1 revenue $3.1B,…

Reports Q1 revenue $3.1B, consensus $3.41B. "With the collapse of OPEC-plus on March 6 and the widespread shut down of the U.S. economy beginning in mid-March, we immediately re-examined our capital spending, our expenses, and how we operate. Our priorities are the protection of our co-workers and their families and the continued operation of our assets, which are essential to businesses and communities across the country. All of our businesses are running and we have modified our operations to keep our employees safe. We are reducing our expenses and sustaining capital expenditures by over $100 million combined versus our budget without sacrificing safety. We have also reduced our expansion capital outlook for 2020 by approximately $700 million, or almost 30 percent. These actions more than offset the reduction in DCF and are expected to result in an improvement in DCF less expansion capital expenditures of approximately $200 million compared to budget. In addition, the actions we have taken over the last several years to strengthen our balance sheet, including reducing our debt by almost $10 billion since the third quarter of 2015, have strengthened us for these challenging times. The services we provide continue to be needed to meet our customers' energy transportation and storage needs. Our business model, which secures much of our cash flows on a take or pay basis independent of underlying commodity prices, positions us well even in the current environment," said KMI Chief Executive Officer Steve Kean.

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KMI Kinder Morgan
$14.73 /

+0.275 (+1.90%)

04/07/20 Mizuho
Kinder Morgan price target lowered to $20 from $23 at Mizuho
03/24/20 Barclays
Kinder Morgan upgraded to Overweight from Equal Weight at Barclays
03/16/20 Morgan Stanley
Morgan Stanley shakes up Midstream ratings in expectation of continued pressure
03/16/20 Morgan Stanley
Kinder Morgan upgraded to Equal Weight from Underweight at Morgan Stanley
Earnings
Notable companies reporting after market close » 12:46
04/22/20
04/22
12:46
04/22/20
12:46
CSX

CSX

$60.30 /

+0.81 (+1.36%)

, LRCX

Lam Research

$265.29 /

+21.58 (+8.85%)

, KMI

Kinder Morgan

$14.76 /

+0.31 (+2.15%)

, LVS

Las Vegas Sands

$40.38 /

-0.3 (-0.74%)

, ORLY

O'Reilly Automotive

$366.60 /

+8.64 (+2.41%)

, XLNX

Xilinx

$89.14 /

+2.64 (+3.05%)

, AMTD

TD Ameritrade

$37.49 /

-0.05 (-0.13%)

, DFS

Discover

$34.89 /

+0.57 (+1.66%)

, SAM

Boston Beer

$424.62 /

+14.62 (+3.57%)

, SLM

Sallie Mae

$6.91 /

+0.14 (+2.07%)

, AA

Alcoa

$7.53 /

+0.22 (+3.01%)

Notable companies…

Notable companies reporting after the market close, with earnings consensus, include CSX Corp. (CSX), consensus 94c... Lam Research (LRCX), consensus $3.98... Kinder Morgan (KMI), consensus 27c... Las Vegas Sands (LVS), consensus 11c... O'Reilly Automotive (ORLY), consensus $3.98... Xilinx (XLNX), consensus 69c... TD Ameritrade (AMTD), consensus 87c... Discover (DFS), consensus 94c... Boston Beer (SAM), consensus $1.77... SLM Corp. (SLM), consensus 83c... Alcoa (AA), consensus (24c).

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CSX CSX
$60.30 /

+0.81 (+1.36%)

04/15/20 Wells Fargo
CSX price target lowered to $66 from $76 at Wells Fargo
04/08/20
Fly Intel: Top five analyst upgrades
04/08/20 Goldman Sachs
CSX upgraded to Buy from Neutral at Goldman Sachs
04/06/20 Stifel
CSX resumed with a Buy at Stifel
LRCX Lam Research
$265.29 /

+21.58 (+8.85%)

04/14/20 Deutsche Bank
Applied Materials share underperformance unwarranted, says Deutsche Bank
04/08/20 Exane BNP Paribas
Lam Research initiated with an Outperform at Exane BNP Paribas
04/03/20 Nomura Instinet
Lam Research upgraded to Buy from Neutral at Nomura Instinet
04/02/20 DA Davidson
Lam Research downgraded to Neutral from Buy at DA Davidson
KMI Kinder Morgan
$14.76 /

+0.31 (+2.15%)

04/07/20 Mizuho
Kinder Morgan price target lowered to $20 from $23 at Mizuho
03/24/20 Barclays
Kinder Morgan upgraded to Overweight from Equal Weight at Barclays
03/16/20 Morgan Stanley
Morgan Stanley shakes up Midstream ratings in expectation of continued pressure
03/16/20 Morgan Stanley
Kinder Morgan upgraded to Equal Weight from Underweight at Morgan Stanley
LVS Las Vegas Sands
$40.38 /

-0.3 (-0.74%)

04/21/20
Fly Intel: Top five analyst upgrades
04/20/20 HSBC
Las Vegas Sands upgraded to Buy from Hold at HSBC
04/17/20 Nomura Instinet
Las Vegas Sands upgraded to Buy on Macau recovery prospects at Nomura Instinet
04/17/20 Nomura Instinet
Las Vegas Sands upgraded to Buy from Neutral at Nomura Instinet
ORLY O'Reilly Automotive
$366.60 /

+8.64 (+2.41%)

04/21/20 Guggenheim
Guggenheim raises two auto parts retailers, cuts one supplier in sector shake-up
04/21/20 Guggenheim
O'Reilly Automotive upgraded to Buy from Neutral at Guggenheim
04/02/20 Morgan Stanley
O'Reilly Automotive upgraded to Overweight from Equal Weight at Morgan Stanley
03/30/20 Credit Suisse
O'Reilly Automotive price target lowered to $354 from $418 at Credit Suisse
XLNX Xilinx
$89.14 /

+2.64 (+3.05%)

04/06/20 Nomura Instinet
Nomura Instinet sees opportunity in Semis amidst 'growing uncertainty'
03/30/20 Citi
Xilinx price target lowered to $84 from $90 at Citi
03/24/20
Fly Intel: Top five analyst upgrades
03/24/20 Goldman Sachs
Xilinx upgraded to Buy from Neutral at Goldman Sachs
AMTD TD Ameritrade
$37.49 /

-0.05 (-0.13%)

04/16/20 Argus
Charles Schwab price target lowered to $42 from $54 at Argus
04/08/20 Keefe Bruyette
TD Ameritrade downgraded to Market Perform from Outperform at Keefe Bruyette
04/06/20 Wells Fargo
Broker sector has plenty of fundamental challenges, says Wells Fargo
03/25/20 Citi
TD Ameritrade upgraded to Buy from Neutral at Citi
DFS Discover
$34.89 /

+0.57 (+1.66%)

04/13/20 Deutsche Bank
Discover price target lowered to $72 from $95 at Deutsche Bank
04/08/20 Wells Fargo
Discover price target lowered to $53 from $88 at Wells Fargo
03/20/20 Nomura Instinet
Discover upgraded to Buy from Neutral at Nomura Instinet
01/27/20 Stephens
Stephens upgrades 'misunderstood' Synchrony after 10% selloff
SAM Boston Beer
$424.62 /

+14.62 (+3.57%)

04/16/20 Guggenheim
Boston Beer price target raised to $480 from $451 at Guggenheim
04/16/20
MKM Partners cuts Boston Beer to Neutral on valuation
04/16/20 MKM Partners
Boston Beer downgraded to Neutral from Buy at MKM Partners
04/01/20 Goldman Sachs
Boston Beer resumed with a Buy at Goldman Sachs
SLM Sallie Mae
$6.91 /

+0.14 (+2.07%)

01/24/20 Oppenheimer
Sallie Mae downgraded to Perform from Outperform at Oppenheimer
01/24/20 Citi
Citi removes Sallie Mae from Focus List, boosts target to $14 from $11
12/10/19 Stephens
Navient initiated with an Equal Weight at Stephens
08/22/19 Citi
Sallie Mae added to US Focus List as a Buy at Citi
AA Alcoa
$7.53 /

+0.22 (+3.01%)

04/07/20 Citi
Alcoa price target lowered to $7 from $14 at Cit
03/24/20 B. Riley FBR
Alcoa downgraded to Neutral from Buy at B. Riley FBR
03/04/20 BofA
Alcoa upgraded to Neutral from Underperform at BofA
02/03/20 JPMorgan
Alcoa pullback an 'attractive' buying opportunity, says JPMorgan
Options
Kinder Morgan call volume above normal and directionally bullish » 11:25
04/22/20
04/22
11:25
04/22/20
11:25
KMI

Kinder Morgan

$14.55 /

+0.095 (+0.66%)

Bullish option flow…

Bullish option flow detected in Kinder Morgan with 5,413 calls trading, 1.6x expected, and implied vol increasing over 3 points to 67.53%. 5/1 weekly 15 calls and May-20 15 calls are the most active options, with total volume in those strikes near 4,400 contracts. The Put/Call Ratio is 0.19. Earnings are expected on April 22nd.

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KMI Kinder Morgan
$14.55 /

+0.095 (+0.66%)

04/07/20 Mizuho
Kinder Morgan price target lowered to $20 from $23 at Mizuho
03/24/20 Barclays
Kinder Morgan upgraded to Overweight from Equal Weight at Barclays
03/16/20 Morgan Stanley
Morgan Stanley shakes up Midstream ratings in expectation of continued pressure
03/16/20 Morgan Stanley
Kinder Morgan upgraded to Equal Weight from Underweight at Morgan Stanley

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