Reports on numerous oil and gas pipeline equities

Stock-Callers.com has issued research reports on the following equities: Williams Partners L.P., Enbridge Energy Partners L.P., Frank's International N.V., and Magellan Midstream Partners L.P. These stocks belong in the oil and gas pipelines segment which is composed of contractors involved in the construction of oil and gas pipelines, mains, pumping stations, refineries and storage tanks.

Williams Partners

On 2 September, shares in Tulsa, Oklahoma-based Williams Partners L.P. ended the session 1.58% higher at US$38.47. The stock recorded a trading volume of 972,964 shares. The company's shares have advanced 6.95% in the last month, 12.86% in the previous three months, and 52.36% since the start of this year. The stock is trading 7.85% above its 50 day moving average and 45.80% above its 200 day moving average. Moreover, shares of Williams Partners, which operates as an energy infrastructure company, have a relative strength index (RSI) of 63.67.

On 1 September, Williams Partners announced that its wholly owned subsidiary Transcontinental Gas Pipe Line Co, LLC has filed an application with the Federal Energy Regulatory Commission seeking authorisation to construct a 475 000 Dth/d expansion in Texas and Louisiana to connect US natural gas supplies with global liquefied natural gas markets. Constructed in two phases, the Gulf Connector Project is designed to deliver 75 000 Dth/d to Freeport LNG Development, L.P.'s liquefaction project by 2Q18, and 400 000 Dth/d to Cheniere Energy's Corpus Christi liquefaction terminal in 2019.

Enbridge Energy Partners

Texas-based Enbridge Energy Partners L.P.'s shares gained 2.65%, to close the day at US$24.00. The stock recorded a trading volume of 591,608 shares. The company's shares have advanced 2.21% in the past month, 8.97% over the previous three months, and 13.55% on an YTD basis. The stock is trading 2.85% and 20.01% above its 50 day and 200 day moving averages, respectively. Additionally, shares of Enbridge Energy Partners, which owns and operates a diversified portfolio of crude oil and natural gas transportation systems in the US, have an RSI of 54.36.

On 1 September, the company announced that its affiliate will be withdrawing regulatory applications pending with the Minnesota Public Utilities Commission for the Sandpiper pipeline project. The company has completed a review of Sandpiper and concluded that the project should be delayed until such time as crude oil production in North Dakota recovers sufficiently to support development of new pipeline capacity.

Frank's Intl.

Shares in Amsterdam, the Netherlands headquartered Frank's International N.V. recorded a trading volume of 728 233 shares at the close of the last trading session. The stock ended the day 1.12% higher at US$11.70. The company's shares are trading below their 50 day moving average by 12.48%. Furthermore, shares of Frank's International, which provides various engineered tubular services for the oil and gas exploration and production companies in the US and internationally, have an RSI of 38.19.

Magellan Midstream Partners

Tulsa-based Magellan Midstream Partners L.P.'s shares finished Friday's session 0.40% higher at US$70.81 and with a total volume of 387 081 shares traded. The stock has advanced 1.88% in the last one month and 8.00% on an YTD basis. The company's shares are trading above their 200 day moving average by 5.69%. Furthermore, shares of Magellan Midstream Partners, which engages in the transportation, storage, and distribution of refined petroleum products and crude oil in the US, have an RSI of 50.53.

On 2 August, the company reported net income of US$187.9 million for 2Q16 compared to US$177.4 million for 2Q15. The company's distributable cash flow was US$221.0 million for 2Q16 compared to US$222.8 million for 2Q15. Diluted net income per unit excluding mark-to-market commodity-related pricing adjustments, a non-GAAP financial measure, was US$0.82 for 2Q16, exceeding the US$0.72 guidance provided by management in early May, primarily due to timing of operating expenses and higher value of product overages.

On 18 August, research firm Morgan Stanley downgraded the company's stock rating from 'equal weight' to 'underweight'.

Read the full report here.

Edited from source by Stephanie Roker

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