Proxy Advisory Firms Recommend Approval of NuStar Energy and NuStar GP Holdings Proposed Merger Transaction
Posted on Monday July 16, 2018
NuStar Energy L.P. (NS) (the “Partnership”) and NuStar GP Holdings, LLC (NSH) today announced that two leading proxy advisory firms, Institutional Shareholder Services (ISS) and Glass Lewis & Co., have recommended votes in favor of the proposed merger of NSH with a wholly owned subsidiary of the Partnership through a unit-for-unit exchange. The proposed merger will be considered at the July 20, 2018 special meeting of NSH unitholders. The proposed transaction, announced in February 2018, would result in the cancellation of the 2% economic general partner interest in the Partnership, the incentive distribution rights in the Partnership and approximately 10.2 million Partnership common units currently owned by subsidiaries of NSH.
Energy Transfer Equity: Analysts’ Ratings
Posted on Monday July 16, 2018
As of July 11, 78.0% of the analysts rate Energy Transfer Equity (ETE) as a “buy,” while 22.0% rate it as a “hold.” Bank of America upgraded Energy Transfer Equity to “buy” from “neutral,” which is equivalent to “hold.”
Alerian Announces Constituent Changes to the Alerian Midstream Energy Select Index
Posted on Thursday July 12, 2018
DALLAS , July 12, 2018 /PRNewswire/ -- Alerian announced that as of the close of business on Monday, July 23, 2018 , the following companies will be added to the Alerian Midstream Energy Select Index (AMEI): ...
Top MLP Losses in the Week Ending June 29
Posted on Tuesday July 03, 2018
NuStar GP Holdings (NSH) and NuStar Energy (NS) were the biggest MLP losses in the week ending June 29. They fell 10.5% and 9.2%, respectively. Last week, the decline in the NuStar duo could be attributed to the recent preferred and common unit issuances. The issuances are expected to be dilutive to the existing common unitholders. The partnership expects to use $566.8 million of the net proceeds from the issuance to repay debt and funding its growth capex.
