trending Market Intelligence /marketintelligence/en/news-insights/trending/xzep4kw95c8msmsxdvwg5w2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

American Midstream slashes distribution by 75%; shares plummet

Q2: U.S. Solar and Wind Power by the Numbers

Essential Energy Insights - September 17, 2020

Essential Energy Insights September 2020

Rate case activity slips, COVID-19 proceedings remain at the forefront in August

American Midstream slashes distribution by 75%; shares plummet

American Midstream Partners LP slashed investor payouts citing prohibitively high public equity costs that require a laser focus on cash retention.

The partnership on July 27 announced a second-quarter distribution of 10.31 cents per common unit, or 41.25 cents annualized, down 75% from the previous quarter when shareholders received 41.25 cents per common unit, or $1.65 per unit annually. American Midstream expects the distribution to free up an additional $65 million of capital per year that can be used to pay down debt and be put toward growth projects.

"Equity capital market constraints for master limited partnerships and the availability of equity capital at acceptable costs and in sufficient quantities, warrants retaining an increased portion of operating cash flow to support growth of the partnership," American Midstream said in a statement.

Investors were not impressed by the new strategy, sending American Midstream shares down almost 38% before the market opened on July 27.

The MLP said it also plans to sell approximately $350 million to $400 million of non-core assets in addition to a previously announced divestiture from its $210 million marine terminals business and a proposal to offload its $138.5 million refined products terminals segment "due to delays in obtaining federal regulatory approval."

American Midstream anticipates the asset sales will allow it to achieve a nearly 4x long-term leverage ratio by mid-2019, in an effort to boost credit ratings.