Following up on a strong earnings report from Wednesday, hi-tech glassmaker Corning (NYSE: GLW ) offered further details this morning on its plans for the future.
Specifically, Corning announced plans to capitalize upon a coming wave in new environmental regulation of heavy-duty engines in Europe and China, by investing similarly heavily in its production of diesel emissions control products.
Corning says it will spend about $250 million on capital improvements in its Environmental Technologies�&�Life Sciences�Business Group, hoping to double its revenues from the group by 2017. Corning will spend to increase capacity at its Erwin diesel facility, which manufactures large ceramic substrates and filters for heavy-duty diesel engine, truck, construction, and agricultural equipment manufacturers.
However, all this new spending will not affect Corning's forecast for 2013 capital expenditures, the company assured investors. Yesterday, Corning pegged 2013 capex spending at approximately $1.3 billion, down from last year's $1.8 billion. With investments in clean diesel being spread out over the next three years, Corning has already figured this investment into capital spending projections for 2013 and 2014. The company gave no such assurances for 2015, however, when the expanded diesel facilities should go into operation.
Western Copper and Gold Corporation (Western), formerly Western Copper Corporation, is an exploration-stage company. The Company is engaged in the development of the Casino mineral property located in Yukon, Canada. The Casino property contains gold, copper, and molybdenum. The Casino Project is an open-pit mine and concentrator complex located in the Yukon Territory of Canada. The Casino property consists of 705 full and partial active quartz mineral claims. The total area covered is 13,124 hectares. CRS Copper Resources Corp. (CRS), a 100% owned subsidiary of the Company, is the registered owner of all claims. On October 17, 2011, the Company completed a plan of arrangement (the Arrangement) involving the Company and two of its subsidiaries Copper North Mining Corp. (Copper North), and NorthIsle Copper and Gold Inc. (NorthIsle). Pursuant to the Arrangement, it transferred the Carmacks Copper Project and the Redstone Project to Copper North and the Island Copper property.
Advisors' Opinion: - [By Hebba Investments]
Therefore the situation is still very bullish for investors in physical gold and the gold ETFs (GLD, CEF, and PHYS). Investors interested in leveraging this situation into higher potential profits may also consider buying gold miners such as Randgold (GOLD), Goldcorp (GG), Yamana Gold (AUY), and any of the other gold miners. Finally, those willing to shoulder much larger risks may consider some of the exploration and micro-cap companies that offer significant profits at a high risk such as Chesapeake Gold (CHPGF.PK), Pretium Resources (PVG), Western Copper (WRN), or any other of the junior exploration companies. Though investors should keep in mind that gold mining companies and explorers do not always rise with a rising gold price - do your research before you invest in the miners.
Best Life Sciences Companies To Buy For 2014: Duke Realty Corporation (DRE)
Duke Realty Corporation operates as a real estate investment trust (REIT) in the United States. It offers leasing, property and asset management, development, construction, build-to-suit, and other tenant-related services. As of December 31, 2006, Duke Realty owned approximately 721 industrial, office, and retail properties comprising 113.8 million rentable square feet, as well as owned 6,400 acres of unencumbered land for development. The company has elected to be taxed as REIT under the Internal Revenue Code. As a REIT, it would not be subject to federal income tax purposes, provided that it distributes at least 90% of its REIT taxable income to its shareholders. The company was founded in 1972 and is headquartered in Indianapolis, Indiana with regional offices in Alexandria, Virginia; Atlanta, Georgia; Cincinnati, Columbus, and Cleveland, Ohio; Chicago, Illinois; Dallas and Houston, Texas; Minneapolis, Minnesota; Nashville, Tennessee; Orlando, Florida; Phoenix, Arizona; Raleigh, North Carolina; St. Louis, Missouri; and Tampa and Weston, Florida.
Advisors' Opinion: - [By Brad Thomas]
Other REITs mentioned: (O), (NNN), (STAG), (DCT), (EGP), (PDM), (DRE), (LRY)
Source: Chambers Street: More Liquidity Magic On The Way In REIT-Dom Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. (More...)
Best Life Sciences Companies To Buy For 2014: iShares 20+ Year Treasury Bond ETF (TLT)
iShares Lehman 20+ Year Treasury Bond Fund (the Fund) seeks investment results that correspond generally to the price and yield performance of the long-term sector of the United States Treasury market as defined by the Lehman Brothers 20+ Year U.S. Treasury Index (the Index). The Index includes all publicly issued, the United States Treasury securities that have a remaining maturity greater than 20 years, are non-convertible, are denominated in United States dollars, are rated investment grade (Baa3 or better) by Moody�� Investors Service, are fixed rate, and have more than $150 million par outstanding. Excluded from the Index are certain special issues, such as flower bonds, targeted investor notes, state and local government series bonds, and coupon issues that have been stripped from assets that are already included in the Index.
The Index is a market capitalization-weighted index. The Fund invests in a representative sample of the securities in the Index, which has a similar investment profile as the Index. The Fund�� investment advisor is Barclays Global Fund Advisor.
Advisors' Opinion: - [By Matthew McCall]
iShares 20+ Year Treasury Bond ETF (NYSE: TLT)
Another ETF that had an initial reaction that was positive, did not hold the gains and within 45 minutes the bond market began to fall again. A taper would likely lead to higher interest rates, which would lead to lower bond prices and lower prices for TLT. But due to the low amount for the taper it appears the market is torn as to which direction bonds go in the near term.
- [By Bonnie Gortler]
The iShares Barclays 20-Year Treasury Bond ETF (TLT), is a long-term Treasury Bond index, with bond maturities of 20 years or more that are denominated in US dollars. When long-term interest rates fall, TLT rises.
Best Life Sciences Companies To Buy For 2014: Qiagen N.V.(QGEN)
QIAGEN N.V., through its subsidiaries, provides sample and assay technologies worldwide. It offers approximately 500 core consumable products, such as sample and assay kits, and automated instrumentation systems that empower customers to transform raw biological samples into molecular information. The company?s consumable products are used for plasmid deoxyribonucleic acid (DNA) purification, and ribonucleic acid purification and stabilization; genomic and viral nucleic acid purification; nucleic acid transfection; polymerase chain reaction (PCR) amplification; reverse transcription; DNA cleanup after PCR and sequencing; and DNA cloning and protein purification. The company sells the digene HC2 HPV Test, a signal-amplified test for high-risk strains of the human papillomavirus. It also offers co-development services for companion diagnostics, technology licensing and patent sales services, and custom services, including whole genome amplification, DNA sequencing, and non- cGMP DNA production on a contract basis. The company?s instrumentation systems automate the use of sample and assay technologies into solutions for a range of laboratory needs enabling customers to perform nucleic acid sample preparation, assay setup, target detection, and other laboratory tasks. Its automated systems include QIAsymphony, a modular system; Rotor-Gene Q, a rotary real-time PCR cycler system; PyroMark, a high-resolution detection platform based upon the Pyrosequencing technology; QIAcube, a sample processing instrument; QIAxcel for nucleic acid separation in low- to high-throughput laboratories; and ESE-Quant Tube Scanners, an optical measurement device. The company serves customer classes, including molecular diagnostics laboratories; applied testing customers in fields, such as forensics, veterinary diagnostics, and food safety; pharmaceutical research and development groups, and academic researchers. QIAGEN N.V. was founded in 1986 and is headquartered in Venlo, the Netherlands.
Advisors' Opinion: - [By Maria Armental var popups = dojo.query(".socialByline .popC"); popups.forEach]
Qiagen N.V (QGEN).’s test to quantify viral loads on organ transplant patients has been approved by the U.S. Food and Drug Administration under a full premarket approval. The Artus CMV RCQ MDx Kit is the only FDA-approved, polymerase chain reaction-based assay optimized for low- to mid-throughput testing of human cytomegalovirus.
Best Life Sciences Companies To Buy For 2014: Noah Holdings Ltd (NOAH)
Noah Holdings Limited, incorporated on June 29, 2007, through its subsidiaries is a service provider focusing on distributing wealth management products to the high net worth population in the People�� Republic of China (PRC). The Company provides direct access to China�� high net worth population. Noah Holdings Limited is a holding company and it operates its business through its PRC subsidiary, Shanghai Noah Rongyao Investment Consulting Co., Ltd (Noah Rongyao), its variable interest entity, Shanghai Noah Investment Management Co., Ltd (Noah Investment), and their respective subsidiaries in China. While Noah Rongyao conducts most of the Company�� businesses, it conducts its insurance brokerage business through Noah Investment and its subsidiaries. Its products choices consist of over-the-counter (OTC) products originated in China and designed to cater to the needs of high net worth population.
With over 300 relationship managers in 28 branch offices, the Company�� coverage network encompasses China�� economically developed regions where high net worth population is concentrated, including the Yangtze River Delta, the Pearl River Delta and the Bohai Rim. Through this coverage network, it serves high net worth individuals, enterprises affiliated with high net worth individuals and wholesale clients, primarily local commercial banks or branches of national commercial banks, which distribute wealth management products to their own clients. Its registered clients were 12,353 as of June 30, 2010. The number of its active clients was 779 as of June 30, 2010. Noah Holdings Limited distributes OTC, wealth management products originated in China. Its product choices primarily include fixed income products, private equity funds and securities investment funds.
Noah Holdings Limited markets and distributes various categories of products supplied by third party product providers, which include fixed income products, mainly including collateralized fixed income products sponso! red by trust companies and other products that provide investors with fixed rates of return; private equity funds products, including investments in private equity funds sponsored by domestic and internal fund management firms; securities investment funds, which are privately raised funds investing in publicly traded stocks, and investment-linked insurance products. It generates revenues primarily from one-time commissions and recurring service fees paid by third-party product providers or, for the majority of fixed income products, by the underlying corporate borrowers. Its one-time commissions accounted for 78.6% of its net revenues during the year ended December 31, 2009, and its recurring service fees accounted for 21.4% of its net revenues in 2009.
The Company competes with China Merchants Bank, China Minsheng Bank and China Everbright Bank.
Advisors' Opinion: Best Life Sciences Companies To Buy For 2014: Eagle Rock Energy Partners LP (EROC)
Eagle Rock Energy Partners, L.P. (Eagle Rock) is a limited partnership engaged in the business of gathering, compressing, treating, processing and transporting natural gas; fractionating and transporting natural gas liquids (NGLs); crude oil logistics and marketing; natural gas marketing and trading, known as Midstream Business, and developing and producing interests in oil and natural gas properties, known as Upstream Business. On May 3, 2011, the Company acquired CC Energy II, L.L.C and outstanding membership interests of Crow Creek Energy. On May 20, 2011, it sold the Wildhorse Gathering System in its East Texas and Other Midstream Segment.
Midstream Business
The Company�� Midstream Business is located in four natural gas producing regions: the Texas Panhandle; East Texas/Louisiana; South Texas, and the Gulf of Mexico. As of December 31, 2011, these working interest properties included 591 gross operated productive wells and 1,197 gross non-operated wells with net production to the Company of approximately 87.7 million cubic feet of natural gas per day and proved reserves of approximately 234.0 Bcf of natural gas, 11.5 million barrels of crude oil or other liquid hydrocarbons of crude oil, and 11.3 million barrels of crude oil or other liquid hydrocarbons of natural gas liquids, of which 76% are proved developed. As of December 31, 2011, its Midstream Business consisted of Panhandle Segment and East Texas and Other Midstream Segment.
The Company�� Texas Panhandle Segment covers 10 counties in Texas and two counties in Oklahoma. Through the systems within this segment, the Company offers midstream wellhead-to-market services, including gathering, compressing, treating, processing and selling of natural gas, and fractionating and selling of NGLs. As of December 31, 2011, approximately 213 producers and 2,072 wells and central delivery points were connected to the systems in its Texas Panhandle Segment. The Texas Panhandle Segment averaged gathered volumes fo! r 2011 of approximately 155.1 million cubic feet of natural gas per day. As of December 2011, Chesapeake Energy and BP America Production represented 14% and 11%, respectively, of the total volumes of its Texas Panhandle Segment. The Texas Panhandle Segment consists of approximately 3,963 miles of natural gas gathering pipelines, ranging from two inches to 24 inches in diameter; seven natural gas processing plants with an aggregate capacity of 210 million cubic feet of natural gas per day; a propane fractionation facility with capacity of 1.0 million cubic feet of natural gas per day, and two condensate collection and stabilization facilities.
Eagle Rock�� systems in the East Panhandle (northern Wheeler, Hemphill and Roberts Counties, Texas) gather and process natural gas produced in the Morrow and Granite Wash reservoirs of the Anadarko basin. In the Panhandle Segment, natural gas is contracted at the wellhead primarily under percent-of proceeds (which includes percent-of-liquids) fixed recovery, percent-of-index and fee-based arrangements that range from one to five years in term. During the year endede December 31, 2011, it produced over 2,600 equity barrels per day of condensate in the Texas Panhandle Segment. During 2011, it stabilizes approximately 2,000 barrels per day combined at its Superdrip and Cargray Stabilizers.
The Company�� East Texas and Other Midstream Segment operates within the natural gas producing regions, such as East Texas/Louisiana, South Texas and the Gulf of Mexico. Through its Texas/Louisiana region, it offers producers natural gas gathering, treating, processing and transportation and NGL transportation across 21 counties in East Texas and seven parishes in West Louisiana. Its operations in the South Texas region primarily gather natural gas and recover NGLs and condensate from natural gas produced in the Frio, Vicksburg, Miocene, Canyon Sands and Wilcox formations in South Texas. Its operations in the Gulf of Mexico region are non-operated owne! rship int! erests in pipelines and onshore plants which are all located in southern Louisiana. The Gulf of Mexico region also provides producer services by arranging for the processing of producers��natural gas into third-party processing plants, known as Mezzanine Processing Services.
As of December 31, 2011, approximately 705 wells and central delivery points were connected to its systems in the East Texas and Other Midstream Segment. As of December 31, 2011, the East Texas and Other Midstream Segment provides gathering and/or marketing services to approximately 140 producers. During 2011, the East Texas and Other Midstream Segment averaged gathered volumes of approximately 319.9 million cubic feet of natural gas per day. As of December 31, 2011, Stone Energy Corporation and Anadarko Petroleum Company represented 18% and 9%, respectively, of the total volumes of its East Texas and Other Midstream Segment. Residue gas pipelines include Houston Pipeline Company, Natural Gas Pipeline Company, Tennessee Gas Pipeline, Crosstex Energy L.P. and Southern Natural Pipeline.
Upstream Business
The Company�� Upstream Business located in four regions within the United States, such as Southern Alabama, which includes the associated gathering, processing and treating assets; Mid-Continent, which includes areas in Oklahoma, Arkansas, Texas Panhandle and North Texas; Permian, which includes areas in West Texas, and East/South Texas/Mississippi assets. As of December 31, 2011, these working interest properties included 591 gross operated productive wells and 1,197 gross non-operated wells with net production of approximately 87.7 million cubic feet of natural gas per day and proved reserves of approximately 234.0 Bcf of natural gas, 11.5 million barrels of crude oil or other liquid hydrocarbons of crude oil, and 11.3 million barrels of crude oil or other liquid hydrocarbons of natural gas liquids, of which 76% are proved developed.
The Southern Alabama region includes the! Big Esca! mbia Creek, Flomaton and Fanny Church fields located in Escambia County, Alabama. These fields produce from either the Smackover or Norphlet formations at depths ranging from approximately 15,000 to 16,000 feet. The Big Escambia Creek field encompasses approximately 11,568 gross and 7,334 net Eagle Rock operated acres. It operates 18 productive wells with an average ownership of 60% working interest and 51% net revenue interest in the Big Escambia Creek field. The Fanny Church field is located two miles east of Big Escambia Creek. Its ownership includes approximately 1,284 gross and 999 net operated acres that include three productive operated wells with an average ownership of 86% working interest and 66% net revenue interest. The Flomaton field is adjacent to and partially underlies the Big Escambia Creek field. The field encompasses approximately 1,280 gross and 1,256 net Eagle Rock operated acres and produces from the Norphlet formation at depths from approximately 15,000 to 16,000 feet. It operates three productive wells with an approximate average 91% working interest and 78% net revenue interest. The Smackover and Norphlet reservoirs are sour, gas condensate reservoirs which produce gas and fluids containing a high percentage of hydrogen sulfide and carbon dioxide.
The Mid-Continent region consists of operated and non-operated properties across the Golden Trend Field, Cana Shale play, Verden Field, and other western Oklahoma fields located in the Anadarko Basin in Oklahoma, the Mansfield Field and other various fields in the Arkoma Basin in Arkansas and Oklahoma, various fields in the Texas Panhandle, and the Barnett Shale in north Texas. Productive depths range from approximately 2,500 feet in the Arkoma fields of western Arkansas to greater than 18,000 feet in the Springer formation in certain western Oklahoma fields. Its producing field is the Golden Trend field that extends across Grady, McClain and Garvin counties in Oklahoma. It has 14,621 net acres in the Cana Shale play exte! nding acr! oss Canadian, Blaine and Dewey counties, Oklahoma. The Cana Shale produces from horizontal wells drilled to vertical depths of 11,000 - 13,000 feet and extended with horizontal lateral lengths of approximately 5,000 feet. In the total Mid-Continent region, it operate 316 productive wells and own a working interest in an additional 1,054 non-operated productive wells. The average working interest in these productive operated and non-operated wells is 83% and 9%, respectively. The net production averaged approximately 53.2 million cubic feet of natural gas per day during 2011, of which approximately 77% was produced from wells it operated.
The Permian region contains numerous fields, including Block 27, Estes Block 34, H.S.A., Heiner, Monahans N., Payton, Running W., Ward S, and Ward-Estes N. located mainly in Ward, Pecos, and Crane Counties, Texas. These fields are located in the Central Basin Platform which extends from central Lea County in New Mexico to central Pecos County in Texas and encompasses hundreds of individual fields with multiple productive intervals from the Yates-Seven Rivers-Queen through the Ellenburger formations. The Ward County fields contains two major properties, the Louis Richter and the American National Life Ins. Co. leases, and encompasses approximately 10,285 gross and 10,215 net Eagle Rock acres. It operate multiple fields consisting of stacked multi-pay horizons that produce from depths of 2,300 feet (Yates) to 9,100 feet (Pennsylvanian). The Southern Unit is located in the Running W Waddell field and produces predominantly oil at depths from approximately 5,750 to 5,900 feet. It operates approximately 5,875 net acres in this area.
The East/South Texas/Mississippi region includes the Aker, Birch, Edgewood, Eustace, Fruitvale, Ginger and Wesson fields in East Texas, the Jourdanton field in South Texas, and the Chicora W, High Road, and Stafford Springs fields in Mississippi. The East Texas fields produce primarily from the Smackover Trend at depth! s from 12! ,000 to 12,700 feet and encompass approximately 18,991 gross and 15,872 net Eagle Rock acres. It operates 32 productive wells, which produce gas that contains between approximately 30% to 69% of impurities (hydrogen sulfide, nitrogen, and carbon dioxide). The Edgewood field also contains two productive gas wells in the Cotton Valley at depths of 11,500 to 11,600 feet which produce sweet natural gas. The East Texas production, with the exception of a single well, is delivered to the third party owned Eustace Plant for separation of condensate, removal of impurities, and extraction of natural gas liquids and sulfur for a combination of fees and percentage of proceeds.
In South Texas, it operates wells in the Jourdanton field in Atascosa County, Texas. It operates nine productive wells with 100% working interest and 88% net revenue interest. Its production from the field is primarily from the Edwards carbonates (7,300 to 7,400 feet). On December 31, 2011, the Company had under operation 290 gross (261 net) productive oil wells and 301 gross (251 net) productive natural gas wells. On December 31, 2011, Eagle Rock owned non-operated working interests in an additional 148 gross (18 net) productive oil wells and 1049 gross (72 net) productive natural gas wells.
The Company competes with DCP Midstream, LLC and Enbridge Energy Partners, L.P., Crosstex Energy, L.P., Energy Transfer Partners, LP and Enterprise Products Partners, L.P.
Advisors' Opinion: - [By Robert Rapier]
Rounding out the bottom five were�OCI Partners�(NYSE: OCIP), a methanol and ammonia producer (-24 percent YTD),�Natural Resource Partners�(NYSE: NRP), another coal producer (-19 percent), and�Eagle Rock Energy Partners�(NASDAQ: EROC), an oil and gas production partnership (-17 percent).
Best Life Sciences Companies To Buy For 2014: Energy Transfer Partners LP (ETP)
Energy Transfer Partners, L.P. (ETP), incorporated on June 25, 1996, is a limited partnership in the United States engaged in natural gas operations. ETP is managed by its general partner, Energy Transfer Partners GP, L.P. (General Partner or ETP GP), and ETP GP is managed by its general partner, Energy Transfer Partners, L.L.C. (ETP LLC), which is owned by Energy Transfer Equity, L.P., another publicly traded master limited partnership (ETE). The activities in which the Company is engaged all of which are in the United States and the wholly owned operating subsidiaries (collectively the Operating Companies). The Company�� business segments are: intrastate transportation and storage; interstate transportation; midstream, and retail propane, Natural Gas Liquid (NGL) Transportation and Services Segment and other retail propane related operations. In January 2012, AmeriGas Partners, L.P. acquired propane operations (Heritage) of ETP. In October 2012, ETP and Sunoco, Inc. (Sunoco) announced the completion of the merger of a wholly owned subsidiary of ETP, with and into Sunoco, with Sunoco surviving the merger as a subsidiary of ETP. In October 2012, Summit Midstream Partners LP acquired ETC Canyon Pipeline, LLC from La Grange Acquisition, L.P., a wholly owned subsidiary of ETP. In April 2013, Energy Transfer Partners LP acquired the remaining 60% interest in ETP Holdco Corp. Effective December 20, 2013, Algonquin Power & Utilities Corp. (APUC) acquired the Massachusetts natural gas distribution utility assets of Southern Union Company, a wholly owned indirect subsidiary of ETP.
The Company�� natural gas operations includes natural gas midstream and intrastate transportation and storage through La Grange Acquisition, L.P., which conducts business under the assumed name of Energy Transfer Company (ETC OLP); and interstate natural gas transportation services through Energy Transfer Interstate Holdings, LLC (ET Interstate). ET Interstate is the parent company of Transwestern Pipeline Company! , LLC (Transwestern), ETC Fayetteville Express Pipeline, LLC (ETC FEP) and ETC Tiger Pipeline, LLC (ETC Tiger). NGL transportation, storage and fractionation services primarily through Lone Star NGL LLC (Lone Star). Retail propane through Heritage Operating, L.P. (HOLP) and Titan Energy Partners, L.P. (Titan), both of which were contributed to AmeriGas Partners, L.P. (AmeriGas).
Intrastate Transportation and Storage Segment
Through the Company�� intrastate transportation and storage segment, it owns and operates approximately 7,800 miles of natural gas transportation pipelines and three natural gas storage facilities located in the state of Texas. Through ETC OLP, it owns the intrastate pipeline system in the United States with interconnects to Texas markets and to major consumption areas throughout the United States. Its intrastate transportation and storage segment focuses on the transportation of natural gas to major markets from various prolific natural gas producing areas through connections with other pipeline systems, as well as through its Oasis pipeline, its East Texas pipeline, its natural gas pipeline and storage assets that are referred to as ET Fuel System, and its HPL System. The major customers on its intrastate pipelines include Natural Gas Exchange, Inc., EDF Trading North America, Inc., XTO Energy, Inc. and ConocoPhillips.
Interstate Transportation Segment
Through the Company�� interstate transportation segment, it owns and operates approximately 12,600 miles of interstate natural gas pipeline and has a 50% interest in the joint venture that owns the 185-mile Fayetteville Express pipeline. The major customers on its interstate pipelines include Chesapeake Energy Marketing, Inc., EnCana Marketing (USA), Inc. (EnCana), Shell Energy North America (US), L.P. and Pacific Summit Energy LLC.
Midstream Segment
Through the Company�� midstream segment, it owns and operates approximately 6,700 miles of in service natur! al gas ga! thering pipelines, two natural gas processing plants, 15 natural gas treating facilities and 15 natural gas conditioning facilities. Its midstream segment focuses on the gathering, compression, treating, blending, processing and marketing of natural gas, and its operations are concentrated in major producing basins and shales, including the Austin Chalk trend and Eagle Ford Shale in South and Southeast Texas, the Permian Basin in West Texas and New Mexico, the Barnett Shale in North Texas, the Bossier Sands in East Texas, the Uinta and Piceance Basins in Utah and Colorado, the Marcellus Shale in West Virginia, and the Haynesville Shale in East Texas and Louisiana. It markets natural gas on its pipeline systems in addition to other pipeline systems. The major customers on its midstream pipelines include Enterprise Products Partners L.P. (Enterprise) and Chevron Phillips Chemical Company LP.
Natural Gas Liquid (NGL) Transportation and Services Segment
NGL transportation pipelines transport mixed NGLs and other hydrocarbons from natural gas processing facilities to fractionation plants and storage facilities. NGL storage facilities are used for the storage of mixed NGLs, NGL products and petrochemical products owned by third-parties in storage tanks and underground wells, which allow for the injection and withdrawal of such products at various times of the year to meet demand cycles. NGL fractionators separate mixed NGL streams into purity products, such as ethane, propane, normal butane, isobutane and natural gasoline.
Through its NGL transportation and services segment it own and operate approximately 300 miles of NGL pipelines and have a 50% interest in the Liberty pipeline, an approximately 85-mile NGL pipeline. It also have a 70% interest in Lone Star, which owns approximately 2,000 miles of NGL pipelines, three NGL processing plants, two fractionation facilities and NGL storage facilities with aggregate working storage capacity of approximately 47 million Bbls.
!
Re! tail Marketing Segment
The Company�� retail marketing and wholesale distribution business segment consists of Sunoco's marketing operations, which sell gasoline and middle distillates at retail and operates convenience stores in 25 states, primarily on the east coast and in the midwest region of the United States. The highest concentrations of outlets are located in Connecticut, Florida, Maryland, Massachusetts, Michigan, New Jersey, New York, Ohio, Pennsylvania and Virginia.
All Other
ETP owns 100% of the membership interests of Energy Transfer Group, L.L.C. (ETG), which owns all of the partnership interests of Energy Transfer Technologies, Ltd. (ETT). ETT provides compression services to customers engaged in the transportation of natural gas, including its other segments. The Company also owns all of the outstanding equity interests of a natural gas compression equipment business with operations in Arkansas, California, Colorado, Louisiana, New Mexico, Oklahoma, Pennsylvania and Texas.
Advisors' Opinion: - [By Eric Volkman]
Energy Transfer Partners (NYSE: ETP ) has launched the issue of 12 million common units in a public offering. Additionally, the company's underwriter has been granted a 30-day purchase option for an additional 1.8 million units.�
- [By Aimee Duffy]
Bottom Line
Phillips' comments come on the heels of similar comments two weeks ago from Energy Transfer Partners (NYSE: ETP ) CEO Kelcy Warren, who said, "You're going to see the resumption of some kind of M&A strategy that we deliberately shelved for quite a period now." The floodgates have officially opened. Investors should pay close attention to new acquisitions. Where are the new assets, what are they, and will they complement your MLP's existing footprint? They are all important questions to ask as the shopping spree begins.
- [By Aimee Duffy]
You'll see the same effect at a traditional pipeline MLP that has some exposure to commodity risk, like Energy Transfer Partners (NYSE: ETP ) . Energy Transfer has taken it on the chin over the past few quarters as low natural gas liquids prices have squeezed earnings in its midstream segment. The same is true for Kinder Morgan Energy Partners (NYSE: KMP ) in its carbon dioxide business, which is exposed to natural gas prices and oil prices. Management doesn't have to worry that inflation will make either of those situations worse, and FERC should take care of the big interstate pipeline systems, so that only leaves cost of capital to worry about.
