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Tallgrass (TEGP) to Lower Capital Cost Through Merger Deal
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Tallgrass Energy GP, LP announced plans to merge with Tallgrass Energy Partners .
For the acquisition to take place, Tallgrass Energy GP is expected to purchase 47.6 million common units of its master limited partnership — Tallgrass Energy Partners. Each unit holder of Tallgrass Energy Partners will get two Class A shares of Tallgrass Energy GP.
Following the closure of the merger, scheduled in the April to June quarter of 2018, the combined entity will be trade as Tallgrass Energy LP. The symbol of the ticker that will be listed in the NYSE is ‘TGE’.
Per management, once the merger is complete, Tallgrass Energy Partners will no longer pay incentive distribution rights to its general partner. Eventually, the cost of capital of Tallgrass Energy will be reduced significantly, which will be allotted for future growth projects and also for making acquisitions.
Based in Leawood, KS, Tallgrass Energy GP primarily provides services related to transportation of crude to customers in the domestic market. Tallgrass Energy GP has generated sufficient cashflow from its operations during 2017, which backed its capital spending.
However, the stock has lost 35.4% over the past year compared with the industry’s13.9% decline.
Tallgrass Energy GP carries a Zacks Rank #3 (Hold).
Headquartered in Houston, TX, W&T Offshore is an upstream energy player. It is expected to witness year-over-year earnings growth of 3.6% in 2018.
Headquartered in Irving, TX, Pioneer Natural Resources is an upstream energy firm. It has an average positive earnings surprise of 66.9% for the last four quarters.
Investor Alert: Breakthroughs Pending
A medical advance is now at the flashpoint between theory and realization. Billions of dollars in research have poured into it. Companies are already generating substantial revenue, and even more wondrous products are in the pipeline.
Cures for a variety of deadly diseases are in sight, and so are big potential profits for early investors. Zacks names 5 stocks to buy now.
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Tallgrass (TEGP) to Lower Capital Cost Through Merger Deal
Tallgrass Energy GP, LP announced plans to merge with Tallgrass Energy Partners .
For the acquisition to take place, Tallgrass Energy GP is expected to purchase 47.6 million common units of its master limited partnership — Tallgrass Energy Partners. Each unit holder of Tallgrass Energy Partners will get two Class A shares of Tallgrass Energy GP.
Following the closure of the merger, scheduled in the April to June quarter of 2018, the combined entity will be trade as Tallgrass Energy LP. The symbol of the ticker that will be listed in the NYSE is ‘TGE’.
Per management, once the merger is complete, Tallgrass Energy Partners will no longer pay incentive distribution rights to its general partner. Eventually, the cost of capital of Tallgrass Energy will be reduced significantly, which will be allotted for future growth projects and also for making acquisitions.
Based in Leawood, KS, Tallgrass Energy GP primarily provides services related to transportation of crude to customers in the domestic market. Tallgrass Energy GP has generated sufficient cashflow from its operations during 2017, which backed its capital spending.
However, the stock has lost 35.4% over the past year compared with the industry’s13.9% decline.
Tallgrass Energy GP carries a Zacks Rank #3 (Hold).
A few better-ranked players in the energy space include W&T Offshore, Inc. (WTI - Free Report) and Pioneer Natural Resources Company . The stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Headquartered in Houston, TX, W&T Offshore is an upstream energy player. It is expected to witness year-over-year earnings growth of 3.6% in 2018.
Headquartered in Irving, TX, Pioneer Natural Resources is an upstream energy firm. It has an average positive earnings surprise of 66.9% for the last four quarters.
Investor Alert: Breakthroughs Pending
A medical advance is now at the flashpoint between theory and realization. Billions of dollars in research have poured into it. Companies are already generating substantial revenue, and even more wondrous products are in the pipeline.
Cures for a variety of deadly diseases are in sight, and so are big potential profits for early investors. Zacks names 5 stocks to buy now.
Click here to see them >>