Jamieson Wellness Inc. Completes Previously Announced Distributor Transaction in China
- TORONTO--(BUSINESS WIRE)--Jamieson Wellness Inc. (“Jamieson Wellness” or the “Company”) (TSX:JWEL) announced today that it has completed the previously announced agreement to acquire operating assets from its distribution partner in China for a purchase price of approximately $26 million CAD. This transaction is a significant step forward in the Company’s brand expansion in China, allowing it to directly connect with consumers while operating its sales, marketing and distribution activities. “As we continue to focus on our growth strategy in China, this transaction reinforces our commitment to accelerate our business in the world’s second largest vitamin, mineral, and supplement market,” said Mike Pilato, President and CEO of Jamieson Wellness. “Having full value-chain ownership allows us to execute our go-to-market strategy directly with our customers and have a holistic approach to reaching the Chinese consumer, who is demanding the high-quality products we produce. We are thankful to our distribution partner for its support throughout this process and look forward to working together to ensure a smooth transition.” To further support the Company’s growth plans in China, the previously announced partnership with DCP Capital is expected to close in the second quarter. The Company will leverage DCP’s deep experience and knowledge in this market to further strengthen and accelerate its growth opportunities under the new owned coordinated operating model. About Jamieson Wellness Inc. Jamieson Wellness is dedicated to improving the world's health and wellness with its portfolio of innovative natural health brands. Established in 1922, Jamieson is the Company's heritage brand and Canada's #1 consumer health brand. Jamieson Wellness also offers a variety of VMS products under its youtheory, Progressive, Smart Solutions, Iron Vegan and Precision brands. The Company is a participant of the United Nations Global Compact and adheres to its principles-based approach to responsible business. For more information please visit www.jamiesonwellness.com. Forward-Looking Information This press release may contain forward-looking information within the meaning of applicable securities legislation. Such information includes, but is not limited to, statements related to the Company’s plans to accelerate growth in China and close the previously announced partnership with DCP Capital in the second quarter. Words such as “expected,” “anticipate,” “intend,” “may,” “will,” “estimate” and variations of such words and similar expressions are intended to identify such forward-looking information. This information reflects the Company’s current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company’s control that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, the factors discussed under “Risk Factors” in the Company’s Annual Information Form dated March 30, 2023 and under the “Risk Factors” section in the management’s discussion and analysis of financial condition and results of operations of the Company filed today, May 4, 2023 (the “MD&A”). This information is based on the Company’s reasonable assumptions and beliefs in light of the information currently available to it and the statements are made as of the date of this press release. The Company does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law or regulatory authority. The Company cautions that the list of risk factors and uncertainties is not exhaustive and other factors could also adversely affect the Company’s results. Readers are urged to consider the risks, uncertainties and assumptions associated with these statements carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such information. See “Forward-looking Information” and “Risk Factors” within the MD&A for a discussion of the uncertainties, risks and assumptions associated with these statements.
- 05/04/2023
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Comtech Welcomes Aarna Networks as New EVOKE Technology Partner
- MELVILLE, N.Y.--(BUSINESS WIRE)--May 4, 2023-- Comtech (NASDAQ: CMTL) announced today that Aarna Networks, a leading provider of network automation and orchestration solutions, will become the Company’s latest publicly revealed EVOKE technology partner. As the fourth publicly announced EVOKE technology partner, Aarna Networks will work with Comtech to create new integrated cloud-native solutions for emerging commercial and government use cases. By combining Aarna Networks technologies with Comtech’s Dynamic Cloud Platform (DCP), the companies will enable customers to easily add and manage a variety of open architecture cloud-based applications across private, hybrid, and public networks, in both terrestrial and non-terrestrial environments. “By working with Aarna Networks as an EVOKE technology partner, we will open the door to new cloud-based applications that will support the convergence of communications infrastructures and empower individuals, communities, businesses, and governments by providing access to new technologies,” said Ken Peterman, President and CEO, Comtech. “As connectivity services expand into new global markets, the need for innovative cloud applications will continue to grow. By integrating Aarna Networks zero-touch edge orchestration technologies with Comtech’s DCP offerings, we will multiply the value our cloud-native solutions can bring to 5G, satellite communications, and edge computing customers around the world.” Comtech’s DCP is designed to be infrastructure, cloud, and application agnostic. Comtech’s DCP also unlocks the availability of new third-party cloud-based applications across current and future computing environments. Aarna Network’s software, and software as a service (SaaS) solutions, leverage open source, cloud native, and DevOps methodologies to provide zero-touch edge and 5G service orchestration and management (SMO) services. “Aarna Networks is thrilled to be an EVOKE technology partner and to integrate with Comtech’s DCP,” said Amar Kapadia, Co-founder and CEO, Aarna Networks. “This allows us to bring edge and 5G services orchestration to diverse infrastructures and management systems for a broad set of industry use cases. Our open source, vendor neutral Open Radio Access Network (O-RAN) SMO offering is important for a variety of customers segments across global markets.” EVOKE is Comtech’s Innovation Foundry, which is led by the company’s Chief Growth Officer, Anirban Chakraborty, and is dedicated to creating and accelerating transformational changes across the global technology landscape. EVOKE engages with customers, partners, and suppliers to push the boundaries of technologies that will lay the foundation of connectivity as well as shape future societies and ecosystems. About Comtech Comtech Telecommunications Corp. is a leading global technology company providing terrestrial and wireless network solutions, next-generation 9-1-1 emergency services, satellite and space communications technologies, and cloud-native capabilities to commercial and government customers around the world. Our unique culture of innovation and employee empowerment unleashes a relentless passion for customer success. With multiple facilities located in technology corridors throughout the United States and around the world, Comtech leverages our global presence, technology leadership, and decades of experience to create the world’s most innovative communications solutions. For more information, please visit www.comtech.com. About Aarna Networks Aarna Networks solves enterprise edge and 5G management complexity through zero-touch edge orchestration at scale. We’re on a mission to help enterprises and network operators unlock previously unimagined new services and drastically slash operational costs and improve time to market. Aarna’s software and SaaS solutions leverage open source, cloud native, and DevOps methodologies to provide zero-touch edge and 5G service orchestration and management services. Visit us at https://www.aarnanetworks.com. Forward-Looking Statements Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results and performance could differ materially from such forward-looking information. The Company's Securities and Exchange Commission filings identify many such risks and uncertainties. Any forward-looking information in this press release is qualified in its entirety by the risks and uncertainties described in such Securities and Exchange Commission filings. PCMTL
- 05/04/2023
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DCP Midstream Reports First Quarter Results
- DENVER, May 03, 2023 (GLOBE NEWSWIRE) -- Today, DCP Midstream, LP (NYSE: DCP) reported its financial results for the three months ended March 31, 2023.
- 05/03/2023
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Phillips 66 Reports First-Quarter 2023 Financial Results
- HOUSTON--(BUSINESS WIRE)--Phillips 66 (NYSE: PSX), a diversified energy company, announces first-quarter 2023 earnings of $2.0 billion, or $4.20 per share, compared with earnings of $1.9 billion in the fourth quarter of 2022. Excluding special items of $4 million, the company had adjusted earnings of $2.0 billion, or $4.21 per share, in the first quarter, compared with fourth-quarter adjusted earnings of $1.9 billion. “We continued to make progress on our strategic priorities, delivering strong financial and operating results in the quarter,” said Mark Lashier, President and CEO of Phillips 66. “In Refining, we ran above industry-average crude utilization, successfully executed major turnarounds and increased market capture to 93%. “We are delivering on our plan to increase shareholder distributions through dividends and share repurchases. During the first quarter we increased our dividend, demonstrating our ongoing commitment to a secure, competitive and growing dividend. We also repurchased $800 million of shares, bringing our total shareholder distributions to $1.3 billion for the quarter. “In Midstream, we are advancing our NGL wellhead-to-market strategy. We recently achieved a significant integration milestone with the transition of DCP Midstream employees into Phillips 66, enabling continued synergy capture. We expect to complete the acquisition of the DCP Midstream, LP public common units by the end of the second quarter.” Midstream Millions of Dollars Pre-Tax Income Adjusted Pre-Tax Income Q1 2023 Q4 2022 Q1 2023 Q4 2022 Transportation $ 306 237 270 237 NGL and Other 408 430 420 448 NOVONIX (12) (11) (12) (11) Midstream $ 702 656 678 674 Midstream first-quarter 2023 pre-tax income was $702 million, compared with $656 million in the fourth quarter of 2022. Results in the first quarter of 2023 included a gain of $36 million from the Belle Chasse terminal sale and $12 million of restructuring costs related to the integration of DCP Midstream. Results in the fourth quarter included $18 million of DCP Midstream restructuring costs. Transportation first-quarter of 2023 adjusted pre-tax income was $270 million, compared with adjusted pre-tax income of $237 million in the fourth quarter of 2022. The increase was primarily driven by seasonally lower operating costs. NGL and Other adjusted pre-tax income was $420 million in the first quarter of 2023, compared with adjusted pre-tax income of $448 million in the fourth quarter of 2022. The decrease was mainly due to declining commodity prices in the gathering and processing business. In the first quarter of 2023, the fair value of the company’s investment in NOVONIX, Ltd. decreased by $12 million compared with a $11 million decrease in the fourth quarter of 2022. Chemicals Millions of Dollars Pre-Tax Income Adjusted Pre-Tax Income Q1 2023 Q4 2022 Q1 2023 Q4 2022 Chemicals $ 198 52 198 52 The Chemicals segment reflects Phillips 66’s equity investment in Chevron Phillips Chemical Company LLC (CPChem). Chemicals first-quarter 2023 reported and adjusted pre-tax income was $198 million, compared with $52 million in the fourth quarter of 2022. This increase was mainly due to improved margins from lower feedstock costs, higher sales volumes and decreased utility costs. Global olefins and polyolefins utilization was 94% for the quarter. Refining Millions of Dollars Pre-Tax Income Adjusted Pre-Tax Income Q1 2023 Q4 2022 Q1 2023 Q4 2022 Refining $ 1,608 1,640 1,608 1,626 Refining first-quarter 2023 reported and adjusted pre-tax income was $1.6 billion, compared with pre-tax income of $1.6 billion in the fourth quarter of 2022. Results in the fourth quarter included hurricane-related insurance recovery benefits of $14 million. The impact of lower volumes from turnaround activity was mostly offset by higher realized margins and lower utility costs. Realized margins increased from $19.73 per barrel in the fourth quarter of 2022 to $20.72 per barrel in the first quarter of 2023, as lower market crack spreads were more than offset by higher clean product differentials, improved feedstock advantage and secondary products. The composite market crack spread, excluding RIN costs, decreased from $23.58 per barrel in the fourth quarter of 2022 to $22.39 per barrel in the first quarter of 2023. Pre-tax turnaround costs for the first quarter were $234 million. Crude utilization rate was 90% and clean product yield was 83%. Market capture increased from 84% to 93%. Marketing and Specialties Millions of Dollars Pre-Tax Income Adjusted Pre-Tax Income Q1 2023 Q4 2022 Q1 2023 Q4 2022 Marketing and Specialties $ 426 539 426 539 Marketing and Specialties first-quarter 2023 reported and adjusted pre-tax income was $426 million, compared with $539 million in the fourth quarter of 2022, mainly due to lower international marketing margins. Corporate and Other Millions of Dollars Pre-Tax Loss Adjusted Pre-Tax Loss Q1 2023 Q4 2022 Q1 2023 Q4 2022 Corporate and Other $ (283) (340) (248) (280) Corporate and Other first-quarter 2023 pre-tax costs were $283 million, compared with pre-tax costs of $340 million in the fourth quarter of 2022. Pre-tax costs included $35 million and $60 million of restructuring costs related to business transformation in the first quarter of 2023 and fourth quarter of 2022, respectively. Adjusted pre-tax costs were $248 million in first-quarter 2023. The improvement in the first quarter was mainly due to higher interest income and recognition of a transfer tax on a foreign entity reorganization in the fourth quarter of 2022. Financial Position, Liquidity and Return of Capital Phillips 66 generated $1.2 billion in cash from operations in the first quarter of 2023. Excluding working capital impacts, operating cash flow was $2.5 billion. During the first quarter, Phillips 66 funded $800 million of share repurchases, $486 million in dividends and $378 million of capital expenditures and investments. The company ended the quarter with 459 million shares outstanding. Also during the quarter, the company issued $1.25 billion of senior unsecured notes and entered into a $1.5 billion delayed draw term loan agreement, both in support of the pending buy-in of DCP Midstream, LP’s publicly held common units. As of March 31, 2023, the company had $7.0 billion of cash and cash equivalents and $6.2 billion of committed capacity available under credit facilities. Additionally, the company has $1.5 billion of capacity available under the delayed draw term agreement conditioned upon closing of the pending buy-in transaction. The company’s consolidated debt-to-capital ratio was 35% and its net debt-to-capital ratio was 25%. Strategic Update Since July 2022 the company has returned $3.7 billion to shareholders through share repurchases and dividends, progressing toward its target of $10 billion to $12 billion in shareholder distributions by year-end 2024. Phillips 66 is on track to deliver $1 billion in run-rate savings by the end of 2023 under its business transformation initiative. At the end of the first quarter, the company had achieved over $600 million of run-rate savings, including $200 million of sustaining capital efficiencies while prioritizing safety and reliability. Over half of the $400 million run-rate cost savings are attributable to the Refining segment. Phillips 66 is executing its NGL growth strategy to build its wellhead-to-market value chain. On April 1, DCP Midstream employees transitioned into Phillips 66. The company previously agreed to acquire all publicly held common units of DCP Midstream, LP in exchange for cash. The transaction is expected to close by the end of the second quarter of 2023 and will increase the company’s economic interest in DCP Midstream to 86.8%. The total increase in the company’s economic interest in DCP Midstream, including the impact from the merger transaction last year, is expected to generate an incremental $1 billion of annual adjusted EBITDA. In addition, Phillips 66 is on track to capture over $300 million of commercial and operating synergies. In Chemicals, CPChem continues to pursue a portfolio of high-return growth projects including construction of a second world-scale 1-hexene unit in Old Ocean, Texas, and the expansion of propylene splitter capacity at its Cedar Bayou facility. Both projects are expected to start up in the second half of 2023. CPChem and QatarEnergy are building joint-venture petrochemical facilities on the U.S. Gulf Coast and in Ras Laffan, Qatar. On the U.S. Gulf Coast, the Golden Triangle Polymers facility will include a 4.6 billion pounds per year ethane cracker and two high-density polyethylene units with a combined capacity of 4.4 billion pounds per year. CPChem owns a 51% equity share in the joint venture and operations are expected to begin in 2026. The Ras Laffan Petrochemical facility will include a 4.6 billion pounds per year ethane cracker and two high-density polyethylene units with a total capacity of 3.7 billion pounds per year. The joint venture is owned 30% by CPChem with operations expected to start up in late 2026. Phillips 66 is converting its San Francisco Refinery in Rodeo, California, into one of the world’s largest renewable fuels facilities. In February, the company safely shut down the Santa Maria facility as it continues to advance its conversion plans. The Rodeo Renewed refinery conversion project is expected to begin commercial operations in the first quarter of 2024. The conversion will reduce emissions from the facility and produce lower carbon-intensity transportation fuels. Upon completion, the facility will have over 50,000 BPD (800 million gallons per year) of renewable fuel production capacity. The American Fuel and Petrochemical Manufacturers (AFPM) recognized five Phillips 66 refineries for exemplary safety performance in 2022. For the second consecutive year, the Sweeny Refinery received the Distinguished Safety Award, the highest annual safety award in the industry. The Bayway, Borger and Santa Maria refineries earned Elite Gold Awards, and Ponca City Refinery earned an Elite Silver Award. In Chemicals, four CPChem facilities were recognized with AFPM safety awards. In Midstream, Phillips 66 was awarded the American Petroleum Institute’s (API) Distinguished Pipeline Safety Award for large operators for the third consecutive year. This is the highest recognition by API for the midstream industry. Investor Webcast Later today, members of Phillips 66 executive management will host a webcast at noon EDT to discuss the company’s first-quarter performance and provide an update on strategic initiatives. To access the webcast and view related presentation materials, go to phillips66.com/investors and click on “Events & Presentations.” For detailed supplemental information, go to phillips66.com/supplemental. Earnings Millions of Dollars 2023 2022 Q1 Q4 Q1 * Midstream $ 702 656 212 Chemicals 198 52 396 Refining 1,608 1,640 173 Marketing and Specialties 426 539 296 Corporate and Other (283) (340) (249) Pre-Tax Income 2,651 2,547 828 Less: Income tax expense 574 535 171 Less: Noncontrolling interests 116 128 75 Phillips 66 $ 1,961 1,884 582 Adjusted Earnings Millions of Dollars 2023 2022 Q1 Q4 Q1 * Midstream $ 678 674 212 Chemicals 198 52 396 Refining 1,608 1,626 190 Marketing and Specialties 426 539 296 Corporate and Other (248) (280) (249) Pre-Tax Income 2,662 2,611 845 Less: Income tax expense 576 574 175 Less: Noncontrolling interests 121 138 75 Phillips 66 $ 1,965 1,899 595 *Earnings and adjusted earnings for the first quarter of 2022 have been recast to reflect a change in the composition of the company's segments made in the fourth quarter of 2022. See the Basis of Presentation section below for further information. About Phillips 66 Phillips 66 (NYSE: PSX) manufactures, transports and markets products that drive the global economy. The diversified energy company’s portfolio includes Midstream, Chemicals, Refining, and Marketing and Specialties businesses. Headquartered in Houston, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives while pursuing a lower-carbon future. For more information, visit phillips66.com or follow @Phillips66Co on LinkedIn or Twitter. CAUTIONARY STATEMENT FOR THE PURPOSES OF THE “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 This news release contains forward-looking statements within the meaning of the federal securities laws. Words such as “anticipated,” “estimated,” “expected,” “planned,” “scheduled,” “targeted,” “believe,” “continue,” “intend,” “will,” “would,” “objective,” “goal,” “project,” “efforts,” “strategies” and similar expressions that convey the prospective nature of events or outcomes generally indicate forward-looking statements. However, the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements included in this news release are based on management’s expectations, estimates and projections as of the date they are made. These statements are not guarantees of future performance and you should not unduly rely on them as they involve certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. Factors that could cause actual results or events to differ materially from those described in the forward-looking statements include: the effects of any widespread public health crisis and its negative impact on commercial activity and demand for refined petroleum products; the inability to timely obtain or maintain permits necessary for capital projects; changes to worldwide government policies relating to renewable fuels and greenhouse gas emissions that adversely affect programs like the renewable fuel standards program, low carbon fuel standards and tax credits for biofuels; fluctuations in NGL, crude oil, and natural gas prices, and petrochemical and refining margins; our ability to consummate the pending acquisition of the outstanding public common units of DCP Midstream, LP and the timing and cost associated therewith; our ability to achieve the expected benefits of the integration of DCP Midstream, LP and from the pending acquisition, if consummated; the diversion of management’s time on transaction and integration-related matters; the success of the company’s business transformation initiatives and the realization of savings from actions taken in connection therewith; unexpected changes in costs for constructing, modifying or operating our facilities; unexpected difficulties in manufacturing, refining or transporting our products; the level and success of drilling and production volumes around our midstream assets; risks and uncertainties with respect to the actions of actual or potential competitive suppliers and transporters of refined petroleum products, renewable fuels or specialty products; lack of, or disruptions in, adequate and reliable transportation for our NGL, crude oil, natural gas, and refined products; potential liability from litigation or for remedial actions, including removal and reclamation obligations under environmental regulations; failure to complete construction of capital projects on time and within budget; current or contemplated changes in governmental policies or laws that relate to NGL, crude oil, natural gas, refined petroleum products, or renewable fuels that regulate profits, pricing, or taxation, or other regulations that limit or restrict refining, marketing and midstream operations or restrict exports; the inability to comply with governmental regulations or make capital expenditures to maintain compliance with laws; limited access to capital or significantly higher cost of capital related to illiquidity or uncertainty in the domestic or international financial markets, which may also impact our ability to repurchase shares and declare and pay dividends; potential disruption of our operations due to accidents, weather events, including as a result of climate change, acts of terrorism or cyberattacks; general domestic and international economic and political developments including armed hostilities (including the Russia-Ukraine war), expropriation of assets, and other political, economic or diplomatic developments; international monetary conditions and exchange controls; changes in estimates or projections used to assess fair value of intangible assets, goodwill and property and equipment and/or strategic decisions with respect to our asset portfolio that cause impairment charges; investments required, or reduced demand for products, as a result of environmental rules and regulations; changes in tax, environmental and other laws and regulations (including alternative energy mandates); political and societal concerns about climate change that could result in changes to our business or increase expenditures, including litigation-related expenses; the operation, financing and distribution decisions of equity affiliates we do not control; and other economic, business, competitive and/or regulatory factors affecting Phillips 66’s businesses generally as set forth in our filings with the Securities and Exchange Commission. Phillips 66 is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise. Use of Non-GAAP Financial Information—This news release includes the terms “adjusted earnings,” “adjusted earnings per share” and “adjusted pre-tax income.” These are non-GAAP financial measures that are included to help facilitate comparisons of operating performance across periods and to help facilitate comparisons with other companies in our industry, by excluding items that do not reflect the core operating results of our businesses in the current period. References in the release to earnings refer to net income attributable to Phillips 66. This news release also includes the terms “sustaining capital” and “adjusted EBITDA,” which are non-GAAP financial measures. Sustaining capital is a component of total capital expenditures, which is the most directly comparable GAAP financial measure. Adjusted EBITDA, as used in this release, is a forward-looking non-GAAP financial measure. EBITDA is defined as estimated net income plus estimated net interest expense, income taxes, depreciation and amortization. Adjusted EBITDA is defined as estimated EBITDA plus the proportional share of selected equity affiliates’ estimated net interest expense, income taxes, depreciation and amortization less the portion of estimated adjusted EBITDA attributable to noncontrolling interests. Net income is the most directly comparable GAAP financial measure for the consolidated company and income before income taxes is the most directly comparable GAAP financial measure for operating segments. Adjusted EBITDA estimates depend on future levels of revenues and expenses, including amounts that will be attributable to noncontrolling interests, which are not reasonably estimable at this time. Accordingly, we cannot provide a reconciliation between projected adjusted EBITDA to consolidated net income or segment income before income taxes without unreasonable effort. Basis of Presentation— During the fourth quarter of 2022, we changed the internal financial information reviewed by our chief executive officer to evaluate results and allocate resources to reflect the realignment of certain businesses between segments and business lines. We determined this realignment resulted in a change in the composition of our operating segments. Accordingly, first-quarter 2022 results have been recast for comparability. The primary effects of this realignment included moving the results of certain processing assets at our Sweeny and Lake Charles refineries from the Midstream segment (NGL and Other) to the Refining segment. Additionally, commissions charged to the Refining segment by the Marketing and Specialties segment related to sales of specialty products were eliminated and the costs of the sales organization were reclassified from the Marketing and Specialties segment to the Refining segment. Additionally, we no longer present disaggregated business line results for our Chemicals and Marketing and Specialties segments. Millions of Dollars Except as Indicated 2023 2022 Q1 Q4 Q1 * Reconciliation of Consolidated Earnings to Adjusted Earnings Consolidated Earnings $ 1,961 1,884 582 Pre-tax adjustments: Hurricane-related costs (recovery) — (14) 17 Net gain on asset disposition (36) — — Business transformation restructuring costs1 35 60 — DCP integration restructuring costs2 12 18 — Tax impact of adjustments3 (2) (14) (4) Other tax impacts — (25) — Noncontrolling interests (5) (10) — Adjusted earnings $ 1,965 1,881 595 Earnings per share of common stock (dollars) $ 4.20 3.97 1.29 Adjusted earnings per share of common stock (dollars)4 $ 4.21 4.00 1.32 Reconciliation of Segment Pre-Tax Income (Loss) to Adjusted Pre-Tax Income (Loss) Midstream Pre-Tax Income $ 702 656 212 Pre-tax adjustments: Net gain on asset disposition (36) — — DCP integration restructuring costs2 12 18 — Adjusted pre-tax income $ 678 674 212 Chemicals Pre-Tax Income $ 198 52 396 Pre-tax adjustments: None — — — Adjusted pre-tax income $ 198 52 396 Refining Pre-Tax Income $ 1,608 1,640 173 Pre-tax adjustments: Hurricane-related costs (recovery) — (14) 17 Adjusted pre-tax income $ 1,608 1,626 190 Marketing and Specialties Pre-Tax Income $ 426 539 296 Pre-tax adjustments: None — — — Adjusted pre-tax income $ 426 539 296 Corporate and Other Pre-Tax Loss $ (283) (340) (249) Pre-tax adjustments: Business transformation restructuring costs1 35 60 — Adjusted pre-tax loss $ (248) (280) (249) *Earnings and adjusted earnings for the first quarter of 2022 have been recast to reflect a change in the composition of the company's segments made in the fourth quarter of 2022. See the Basis of Presentation section above for further information. 1 Restructuring costs, related to Phillips 66’s multi-year business transformation efforts, are primarily due to consulting fees. Additionally, fourth-quarter included a held-for-sale asset impairment of $45 million. 2 Restructuring costs, related to the integration of DCP Midstream, primarily reflect severance costs and consulting fees. A portion of these costs are attributable to noncontrolling interests. 3 We generally tax effect taxable U.S.-based special items using a combined federal and state statutory income tax rate of approximately 24%. Taxable special items attributable to foreign locations likewise use a local statutory income tax rate. Nontaxable events reflect zero income tax. These events include, but are not limited to, most goodwill impairments, transactions legislatively exempt from income tax, transactions related to entities for which we have made an assertion that the undistributed earnings are permanently reinvested, or transactions occurring in jurisdictions with a valuation allowance. 4 Q1 2022 is based on adjusted weighted-average diluted shares of 450,129 thousand. Other periods are based on the same weighted-average diluted shares outstanding as that used in the GAAP diluted earnings per share calculation. Income allocated to participating securities, if applicable, in the adjusted earnings per share calculation is the same as that used in the GAAP diluted earnings per share calculation. Millions of Dollars Except as Indicated March 31, 2023 Debt-to-Capital Ratio Total Debt $ 18,485 Total Equity 34,916 Debt-to-Capital Ratio 35 % Total Cash 6,965 Net Debt-to-Capital Ratio 25 % Millions of Dollars Except as Indicated 2023 2022 Q1 Q4 Realized Refining Margins Income before income taxes $ 1,608 1,640 Plus: Taxes other than income taxes 113 47 Depreciation, amortization and impairments 202 238 Selling, general and administrative expenses 45 47 Operating expenses 1,167 1,264 Equity in earnings of affiliates (199) (254) Other segment (income) expense, net 25 (29) Proportional share of refining gross margins contributed by equity affiliates 428 499 Special items: None — — Realized refining margins $ 3,389 3,452 Total processed inputs (thousands of barrels) 145,241 154,178 Adjusted total processed inputs (thousands of barrels)* 163,552 175,033 Income before income taxes (dollars per barrel)** $ 11.07 10.64 Realized refining margins (dollars per barrel)*** $ 20.72 19.73 *Adjusted total processed inputs include our proportional share of processed inputs of an equity affiliate. **Income before income taxes divided by total processed inputs.
- 05/03/2023
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GE HealthCare Expands Contrast Media Portfolio with Launch of MRI Agent Pixxoscan (gadobutrol)
- CHALFONT ST GILES, England--(BUSINESS WIRE)--GE HealthCare has today announced the launch of Pixxoscan (gadobutrol), its macrocyclic, non-ionic Magnetic Resonance Imaging (MRI) gadolinium-based contrast agent (GBCA). Pixxoscan has been reviewed using a regulatory decentralized procedure (DCP) with marketing authorization already in place in Austria and pending approval, will be introduced to a number of European countries in 2023. It has been reviewed as having the same qualitative and quantitative composition in active substance and excipients, and the same pharmaceutical form, as the reference product, Gadovist. Pixxoscan facilitates visualization of abnormal structures or lesions and helps in the differentiation between healthy and pathological tissue. In line with the reference product, Gadovist, Pixxoscan (gadobutrol) is indicated for use in adults, adolescents, and children of all ages (including term neonates) for contrast enhancement in cranial and spinal MRI and magnetic resonance angiography. It is also indicated for whole body imaging, including liver and kidneys in patients with high suspicion or evidence of having focal lesions to classify them as benign or malignant. Gadobutrol has a high relaxivity which helps enhance detection, delineation and characterization in MRI across its range of indications. It is also formulated at twice the concentration of gadolinium ions, reducing injection volume by half compared to other GBCAs, providing a tighter bolus. Its cage-like macrocyclic chelate, which encloses the gadolinium, provides high kinetic stability. Pixxoscan adds to GE HealthCare’s MRI contrast media portfolio which includes macrocyclic Clariscan (gadoteric acid) as well as Rapiscan, used in stress cardiac MR to aid diagnosis of coronary artery disease and offering an alternative for patients who cannot exercise. The availability of Pixxoscan will give radiology departments greater access to agents supporting a broad range of MRI procedures, helping them in personalizing care for patients. Dr Gianluca Pontone, Director of Perioperative Cardiology and Cardiovascular Imaging Department, Monzino Cardiology Center, Milan, Italy, said: “GE HealthCare continues to expand its range of products and Pixxoscan sitting alongside cardiac stress agent, Rapiscan, is welcome news. This gives me, as a cardiologist, the products I need to aid in making timely diagnoses for patients with suspected coronary artery disease.” Mark Hibberd, Chief Medical Officer, GE HealthCare Pharmaceutical Diagnostics, said: “This extension to our portfolio means, we will be able to offer two leading macrocyclic molecules – Clariscan (gadoteric acid) and Pixxoscan (gadobutrol) - to our customers in a number of European countries, offering radiology departments even more choice to suit their diagnostic needs. We continue to innovate and invest in our contrast media portfolio to deliver for healthcare professionals and patients and to meet future demand.” Pixxoscan (gadobutrol) offers a wide range of packaging encompassing glass vials, ready-assembled plastic prefilled syringes and larger volume +PLUSPAK polypropylene bottles. GE HealthCare’s +PLUSPAK plastic packaging, using flip-top lids, helps eliminate risk of, and downtime from, broken glass and ring-pull injuries. +PLUSPAK also provides more choice for customers and helps them reduce their costs and environmental impact. As with all GE HealthCare contrast agents, Pixxoscan will be produced in compliance with current Good Manufacturing Practices (cGMP) - with rigorous testing at our primary and secondary manufacturing sites in Norway to ensure high quality. Once approved, it will then be labelled and packed for onward shipping via our standard distribution network to local markets. GE HealthCare’s Pharmaceutical Diagnostics unit is a global leader in imaging agents used to support around 100 million procedures per year globally, equivalent to three patient procedures every second. For more than 40 years, GE HealthCare imaging agents have been routinely used across MRI, X-ray/CT and ultrasound to enhance clinical images and support diagnosis. About GE HealthCare Technologies Inc. GE HealthCare is a leading global medical technology, pharmaceutical diagnostics, and digital solutions innovator, dedicated to providing integrated solutions, services, and data analytics to make hospitals more efficient, clinicians more effective, therapies more precise, and patients healthier and happier. Serving patients and providers for more than 100 years, GE HealthCare is advancing personalized, connected, and compassionate care, while simplifying the patient’s journey across the care pathway. Together our Imaging, Ultrasound, Patient Care Solutions, and Pharmaceutical Diagnostics businesses help improve patient care from diagnosis, to therapy, to monitoring. We are an $18.3 billion business with 50,000 employees working to create a world where healthcare has no limits. Follow us on Facebook, LinkedIn, Twitter, Instagram, and Insights for the latest news, or visit our website https://www.gehealthcare.com/ for more information.
- 04/27/2023
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National Multicenter Trial Opens to Study ImmunityBio’s Tri-Ad5 Cancer Vaccines Plus N-803 to Prevent Cancer in People with Lynch Syndrome
- CULVER CITY, Calif.--(BUSINESS WIRE)--ImmunityBio, Inc. (NASDAQ: IBRX), a clinical-stage immunotherapy company, today announced the opening of a clinical trial to study its investigational Tri-Ad5 vaccine combination (Adenovirus 5 CEA/MUC1/brachyury) together with its IL-15 superagonist N-803, an immune-enhancer, for people with a hereditary condition known as Lynch syndrome. This Phase 2b trial (NCT05419011) sponsored by the National Cancer Institute, part of the National Institutes of Health, will study whether Tri-Ad5 in combination with N-803 works to prevent colorectal and other cancers in study participants. Each of the three vaccines in Tri-Ad5 targets different proteins associated with precancer and cancer cells. The vaccine combination is studying whether activation of dendritic cells and training the immune system to recognize those proteins will destroy the precancer cells before the cancer advances. N-803 is designed to enhance the effects of the vaccines by increasing proliferation and activation of natural killer (NK) and T cells, thereby increasing the potential for cancer prevention in study participants. “We are excited to partner with the NCI on this important cancer vaccine study to potentially prevent or delay the onset of cancer for people who carry the gene associated with Lynch syndrome,” said Patrick Soon-Shiong, M.D., Executive Chairman and Global Chief Scientific and Medical Officer at ImmunityBio. “Lynch syndrome affects tens of thousands of people each year and the average age of cancer diagnosis for them is just 44. People known to have the gene for Lynch syndrome can be followed closely by their doctors with regular examinations and scans to watch for the development of cancer but, currently, there is no treatment that prevents the development of cancer in these patients. We hope to change that with this innovative study developed by the NCI.” Lynch syndrome is one of the most common hereditary cancer syndromes. Not only can people with Lynch syndrome develop colorectal cancer some 20 years before the average age of diagnosis for this cancer, they are also at an increased risk of developing multiple types of other cancers, including endometrial, stomach, ovarian, pancreas, ureter and renal pelvis, biliary tract, brain, and small intestinal cancers. Colorectal cancer is the second-deadliest cancer type in the U.S., and approximately 3% to 5% of the 153,000 cases of colorectal cancer annually are thought to be due to Lynch Syndrome, as are 2% to 3% of all cases of endometrial cancer.2 “The Tri-Ad5 vaccine trial will be the largest Lynch syndrome cancer prevention study done in the U.S.,” said Asad Umar, D.V.M., Ph.D., a senior advisor to the director for translational research in NCI’s Division of Cancer Prevention (DCP) and a scientific lead for the trial. To learn more about this study, please visit https://clinicaltrials.gov/ct2/show/NCT05419011. For patients interested in enrolling in this study, please contact NCI’s toll-free number 1-800-4-Cancer (1-800-422-6237) (TTY: 1-800-332-8615) and/or the website: https://trials.cancer.gov and/or NCIMO_referrals@mail.nih.gov. About ImmunityBio’s Tri-Ad5 Vaccines ImmunityBio’s Tri-Ad5 vaccines target three tumor-associated antigens: brachyury, carcinoembryonic antigen (CEA), and mucin-1 (MUC1). Pre-clinical studies have demonstrated Tri-Ad5 vaccines elicit cytotoxic T cell-mediated tumor cell death and the establishment of memory T cells, and thus may provide protection against the growth and metastasis of cancer. Tri-Ad5 vaccines utilize a second-generation replication-defective human adenovirus serotype 5 (Ad5) vector with viral genes deleted to allow for production of the antigen and a vigorous immune response, without generating a host response to the vector and with the ability to overcome previous adenovirus immunity in cancer patients. Notably, in a phase 1 NCI trial, Tri-Ad5 generated antigen-specific T cells to MUC1, CEA, and/or brachyury in all 10 patients with no evidence of antigenic competition. The safety of multiple ImmunityBio product candidates utilizing the Ad5 technology has been demonstrated in phase 1 and 2 clinical trials for cancers across multiple tumor types. About ImmunityBio ImmunityBio is a vertically-integrated, clinical-stage biotechnology company developing next-generation therapies and vaccines that bolster the natural immune system to defeat cancers and infectious diseases. The company’s range of immunotherapy and cell therapy platforms, alone and together, act to drive and sustain an immune response with the goal of creating durable and safe protection against disease. These platforms and their associated product candidates are designed to be more effective, accessible, and easily administered than current standards of care in oncology and infectious diseases. N-803 (Anktiva™), ImmunityBio’s lead cytokine fusion protein, is a novel IL-15 superagonist complex and has received Breakthrough Therapy and Fast Track Designations from the U.S. Food and Drug Administration (FDA) for BCG-unresponsive CIS non-muscle invasive bladder cancer (NMIBC). N-803 is currently under review by the FDA for this indication with a Prescription Drug User Fee Act (PDUFA) target date of May 23, 2023. The company has established GMP manufacturing capacity at scale with cutting-edge cell therapy manufacturing expertise and ready-to-scale facilities, as well as extensive and seasoned R&D, clinical trial, and regulatory operations, and development teams. For more information, please visit: www.immunitybio.com Forward Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements regarding the information and data to be provided by the clinical trial described herein, the potential effects of the Tri-Ad5 vaccine combination together with N-803, the potential use and efficacy of ImmunityBio’s product candidates for the prevention and/or treatment of cancer, clinical trial protocol design, enrollment, advancement and potential results, potential regulatory pathway for certain of ImmunityBio’s product candidates and target indications, data from the clinical trials for certain of ImmunityBio’s product candidates, potential implications to be drawn from clinical trials, potential commercialization of product candidates, and ImmunityBio’s product candidates as compared to existing treatment options, among others. Statements in this press release that are not statements of historical fact are considered forward-looking statements, which are usually identified by the use of words such as “anticipates,” “believes,” “continues,” “goal,” “could,” “estimates,” “scheduled,” “expects,” “intends,” “may,” “plans,” “potential,” “predicts,” “indicate,” “projects,” “seeks,” “should,” “will,” “strategy,” and variations of such words or similar expressions. Statements of past performance, efforts, or results of our preclinical and clinical trials, about which inferences or assumptions may be made, can also be forward-looking statements and are not indicative of future performance or results. Forward-looking statements are neither forecasts, promises nor guarantees, and are based on the current beliefs of ImmunityBio’s management as well as assumptions made by and information currently available to ImmunityBio. Such information may be limited or incomplete, and ImmunityBio’s statements should not be read to indicate that it has conducted a thorough inquiry into, or review of, all potentially available relevant information. Such statements reflect the current views of ImmunityBio with respect to future events and are subject to known and unknown risks, including business, regulatory, economic and competitive risks, uncertainties, contingencies and assumptions about ImmunityBio, including, without limitation, (i) the ability of ImmunityBio to continue its planned preclinical and clinical development of its development programs, and the timing and success of any such continued preclinical and clinical development and planned regulatory submissions, (ii) the risks and uncertainties associated with the regulatory submission, review and approval process, (iii) ImmunityBio’s ability to retain and hire key personnel, (iv) ImmunityBio’s ability to obtain additional financing to fund its operations and complete the development and commercialization of its various product candidates, (v) ImmunityBio’s ability to successfully commercialize its product candidates and uncertainties around regulatory reviews and approvals, (vi) ImmunityBio’s ability to scale its manufacturing and commercial supply operations for its product candidates and future approved products, (vii) ImmunityBio’s ability to obtain, maintain, protect and enforce patent protection and other proprietary rights for its product candidates and technologies, and (viii) the unknown future impact of the COVID-19 pandemic on certain clinical trials or their milestones and/or ImmunityBio’s business operations or operating expenses. More details about these and other risks that may impact ImmunityBio’s business are described under the heading “Risk Factors” in the Company’s Form 10-K filed with the U.S. Securities and Exchange Commission (“SEC”) on March 1, 2023, and in subsequent filings made by ImmunityBio with the SEC, which are available on the SEC’s website at www.sec.gov. ImmunityBio cautions you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. ImmunityBio does not undertake any duty to update any forward-looking statement or other information in this press release, except to the extent required by law. 1&2 American Society of Clinical Oncology (ASCO) Cancer.net
- 04/25/2023
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DCP Midstream Announces Common and Preferred Unit Distributions and Planned Redemption
- DENVER, April 19, 2023 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE: DCP) announced today that the board of directors of its general partner declared a first quarter 2023 Common Unit cash distribution of $0.43 per unit. This quarterly Common Unit distribution will be paid May 15, 2023 to common unitholders of record at the close of business on May 1, 2023.
- 04/19/2023
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MATRIXX Software and Nagarro Partner to Offer Communications Service Providers End-to-End Digitized Customer Journeys
- FOSTER CITY, Calif.--(BUSINESS WIRE)--MATRIXX Software, a global leader in 5G monetization solutions, today announced its partnership with Nagarro, a worldwide digital engineering leader, to provide communications service providers (CSPs) a solution for comprehensive customer lifecycle management, digitizing the entire customer journey from the network to the users’ mobile app. The solution, powered by MATRIXX’s Digital Commerce Platform (DCP), a best-in-class convergent charging and commerce platform, and Nagarro’s Telco Digital Platform (TDP) accelerator, which offers pre-built digital customer journeys and customizable business workflows, has delivered real-world success for two leading Middle East operators. The digital customer lifecycle management solution can be implemented in less than five months, delivering a digital business support system (BSS) for new or existing telco brands, including critical processes for subscriber onboarding, Know Your Customer (KYC) requirements, SIM fulfillment and activation, service ordering, self-service, gifting and real-time monetization of usage and non-usage charges. The solution framework is modular and highly customizable, supporting integration to legacy BSS applications through industry-standard APIs, which reduce deployment effort by 40-50%. “As digital telcos, brands and MVNOs realize they need to address fully digital customer lifecycles, integrated solutions like MATRIXX and Nagarro’s reduce risk for clients, accelerate implementation time, enable new services to be more quickly deployed and meet customer needs,” said Glo Gordon, CEO of MATRIXX Software. “Telcos planning or pursuing their digital transformation initiatives need comprehensive solutions, which is why we partnered with Nagarro to help deliver a best-in-class customer experience.” Nagarro’s TDP accelerator framework facilitated the implementation, which includes MATRIXX DCP and the Nagarro mobile user app platform for seamless self-service, accelerating CSPs’ time to market for digital solutions and new offers. “By providing this framework to bring BSS applications together and integrate more easily, Nagarro and MATRIXX are smoothing the path for digital CSPs to build stronger relationships with their customers,” said Ananda Sen Gupta, Managing Director at Nagarro. “In this interconnected world, being able to rapidly bring stronger solutions helps CSPs stand out in a competitive landscape. MATRIXX and Nagarro make that a reality.” About Nagarro: Nagarro, a global digital engineering leader, helps clients become innovative, digital-first companies and thus win in their markets. The company is distinguished by its entrepreneurial, agile, and global character, its CARING mindset, and its approach of thinking breakthroughs. Nagarro employs over 18,000 people in 33 countries. For more information, please visit www.nagarro.com. FRA: NA9 (SDAX/TecDAX, ISIN DE000A3H2200, WKN A3H220) For inquiries, please contact press@nagarro.com About MATRIXX Software: MATRIXX Software delivers a modern converged charging and commerce solution proven at scale. Its cloud native Digital Commerce Platform provides network-grade, mission critical software that unlocks new network monetization opportunities. With its no-code configuration capabilities, MATRIXX empowers service providers with the agility necessary to easily develop, deploy and monetize new products and services. MATRIXX is the platform of choice powering many of the world’s leading communications companies, IoT players and emerging network infrastructure providers. MATRIXX makes it possible to harness commercial innovation and on-demand customer experience to better compete and drive new revenue and growth opportunities across markets and verticals. For more information, please visit www.matrixx.com
- 04/19/2023
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ClearBridge Energy Midstream Opportunity Fund Inc. Announces Unaudited Balance Sheet Information as of March 31, 2023
- NEW YORK--(BUSINESS WIRE)--ClearBridge Energy Midstream Opportunity Fund Inc. (NYSE: EMO) announced today the unaudited statement of assets and liabilities, the net asset value and asset coverage ratio of the Fund as of March 31, 2023. As of March 31, 2023, the Fund’s net assets were $421.3 million, and its net asset value per share was $32.95. The Fund’s asset coverage ratio under the Investment Company Act of 1940 (the “1940 Act”) with respect to senior indebtedness was 409% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage was 306%. $ 617.5 $ 48.29 3.9 0.30 6.9 0.54 $ 628.3 $ 49.13 $ 32.9 $ 2.57 120.0 9.38 51.9 4.06 $ 204.8 $ 16.01 $ 2.2 $ 0.17 $ 2.2 $ 0.17 $ 421.3 $ 32.95 12,787,291 $ 52.1 8.4 % $ 48.5 7.9 % $ 46.8 7.6 % $ 44.0 7.1 % $ 41.2 6.7 % $ 36.1 5.8 % $ 27.5 4.5 % $ 27.1 4.4 % $ 26.9 4.4 % $ 23.9 3.9 % $ 374.1 60.7 % ClearBridge Energy Midstream Opportunity Fund Inc. is a non-diversified, closed-end management investment company, which is advised by Legg Mason Partners Fund Advisor, LLC (“LMPFA”) and subadvised by ClearBridge Investments, LLC (“ClearBridge”). LMPFA and ClearBridge are indirect, wholly-owned subsidiaries of Franklin Resources, Inc. (“Franklin Resources”). This financial data is unaudited. The Fund files its semi-annual and annual reports with the Securities and Exchange Commission (“SEC”), as well as its complete schedule of portfolio holdings for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. These reports are available on the SEC’s website at www.sec.gov. To obtain information on Form N-PORT or a semi-annual or annual report from the Fund, shareholders can call 1-888-777-0102. For more information about the Fund, please call 1-888-777-0102 or consult the Fund’s website at www.franklintempleton.com/investments/options/closed-end-funds. Hard copies of the Fund’s complete audited financial statements are available free of charge upon request. Data and commentary provided in this press release are for informational purposes only. Franklin Resources and its affiliates do not engage in selling shares of the Fund. Category: Financials Source: Franklin Resources, Inc. Source: Legg Mason Closed End Funds
- 04/10/2023
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MLP Preferred Units Ranked By Quality
- Preferred MLP units offer consistent dividends and enhanced bankruptcy protections. The MLP preferred units evaluated pay distributions with forward yields ranging from 6.3% to 12.2%.
- 03/30/2023
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TACO CABANA CELEBRATES INCREDIBLE SUCCESS OF THE DOUBLE CRUNCH PIZZA PLATFORM WITH NEW CINCO DE MAYO OFFERINGS
- – TC launches all-new Ghost Pepper Ground Beef Double Crunch Pizza & New Triple Crunch Ground Beef Pizza May 4, 2023 – Image (Courtesy Taco Cabana): https://giantnoise.box.com/s/s8jqh8sw58ygpt1pugtgwcih2pmm2dnz SAN ANTONIO, March 29, 2023 /PRNewswire/ — Following the massively successful launch of the Double Crunch Pizza (DCP) in December 2022, Taco Cabana has announced the addition of two […]...
- 03/29/2023
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Midstream Energy Stocks Ranked By Quality
- Given the current uncertainty, I believe high-quality, favorably valued, and low-risk investments warrant increased attention. Some midstream energy companies boast durable revenue, profitability, and well-supported high dividend yields.
- 03/26/2023
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Here's Why Hold Strategy is Apt for DCP Midstream (DCP) Stock
- For the year ended Dec 31, 2022, DCP Midstream (DCP) reduces about $570 million in absolute debt.
- 03/24/2023
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Midstream Caught In Middle Of Permian Producer Split
- Public and private producers are parting ways in the Permian Basin. Led by Exxon Mobil, public companies have been steadily adding rigs in.
- 03/24/2023
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Engine Capital Sends Letter to Parkland’s Board of Directors Outlining Paths to Enhance Shareholder Value
- NEW YORK--(BUSINESS WIRE)--Engine Capital LP, which owns approximately 2.0% of Parkland Corporation’s (TSX: PKI) (“Parkland” or the “Company”) outstanding shares, today announced that it has sent the below letter to members of the Company’s Board of Directors. *** March 22, 2023 Parkland Corporation 240 4th Avenue SW Suite 1800 Calgary, AB T2P 4H4 Attention: Board of Directors Dear Members of the Board of Directors (the “Board”): Engine Capital LP (together with its affiliates, “Engine” or “we”) is a meaningful shareholder of Parkland Corporation (TSX: PKI) (“Parkland” or the “Company”), with an ownership position of approximately 2.0% of the Company’s outstanding shares. Engine is a value-oriented investment fund whose principals have significant experience investing in the convenience retail and fuel marketing industry, including prior investments in CST Brands, Inc., until its sale to Alimentation Couche-Tard Inc. (TSX: ATD), and Casey’s General Stores, Inc. (Nasdaq: CASY). We have followed Parkland closely for many years and initially invested in the Company due to the strength and scale of its global fuel and convenience retail network, its differentiated supply capabilities, the strength of its owned brands and branded partnerships, its very compelling valuation and our belief that there are opportunities readily available within the control of the Board to significantly increase value for shareholders. Unfortunately, Parkland has been unable to translate its advantaged strategic position and quality assets into adequate returns for shareholders with total shareholder returns (“TSR”) trailing relevant benchmarks and peers over every relevant time horizon (as detailed in the below table).1 It is worth noting that Parkland has underperformed both its convenience retailer and refinery peer groups over the 1-, 3-, 5- and 10-year periods. We are particularly troubled by Parkland’s staggering underperformance compared to Canadian convenience retailer champion, Alimentation Couche-Tard. As a result of this sustained underperformance, Parkland is currently trading at a considerable discount to its retail peers and intrinsic value. The Company has a market capitalization of around $4.9 billion and an enterprise value of approximately $10.4 billion, implying a 2023 free cash flow yield of around 15%, a 2023 price-to-earnings multiple of around 12x and a 2023 EV-to-EBITDA multiple of around 6.5x.2 These multiples are too low on both an absolute and relative basis. By comparison, Alimentation Couche-Tard trades at a 2023 price-to-earnings multiple of around 16x and a 2023 EV-to-EBITDA multiple of around 9.5x. Since its creation, Parkland has pursued an aggressive M&A strategy and accordingly, gained significant scale and supply advantages. The Company today considers this vertically integrated supply strategy as one of its core competitive advantages. In its pursuit of this strategy, Parkland has accumulated a range of assets that are not typically owned by pure play fuel and convenience operators. We believe these assets create significant complexity and detract from the Company’s underlying valuation leading investors to view Parkland as a conglomerate with disparate assets, instead of a pure play convenience retailer. Conglomerates typically trade at a steep discount to the sum of the parts – and Parkland is no exception. The reason investors are willing to assign high multiples to pure play fuel and convenience retailers is because these businesses are stable, predictable and cash flow generative. These same investors are not willing to value Parkland in the same way or take the time to analyze Parkland since it also owns several other assets, such as a volatile and more capital-intensive refinery, and low growth commercial assets, such as heating oil and propane distribution businesses. Therefore, if Parkland wants to be valued like a pure play fuel and convenience retailer, it should simply become a pure play fuel and convenience retailer. The complexity of Parkland’s business can be best evidenced by the wide list of companies the Company uses in its management information circular to establish its peer group for compensation purposes. The peer group includes (among others) companies as diverse as convenience retailers (Murphy USA, Casey’s General Stores), a refiner (Delek USA), pipeline operators (Magellan Midstream Partners, DCP Midstream), utility and energy companies (Emera, Algonquin Power & Utilities, Canadian Utilities), a logistics company (TFI International), a natural gas producer (Keyera) and food retailers (Empire Company, Metro). 3 We understand that M&A has historically made sense for the Company in the context of increasing its supply advantage. At this stage of its evolution, however, Parkland has sufficient scale, which is why the Board should now turn its focus to optimizing the Company’s structure, simplifying its business and becoming a best-in-class fuel and convenience retailer. We believe the Board needs to take the following actions in the near-term to enhance long-term shareholder value: The following sections of this letter detail our views on these different topics. 1. Immediately start exploring all strategic alternatives for Parkland, including evaluating the sale or spinoff of non-core assets with the goal of becoming a more focused fuel and convenience retailer. The long-term underperformance of Parkland compared to its pure play convenience retailer and refinery peers over every relevant time horizon should convince the Board that the status quo can no longer persist. This underperformance compared to pure play peers of Parkland’s convenience retailer and refinery businesses is typical of a conglomerate’s underperformance and is the reason why investors prefer to invest in pure plays that can allocate capital more effectively, optimize the capital structure and incentivize management more appropriately. We would also note that Parkland’s multiple has steadily contracted since shortly after the purchase of Chevron Canada, which came with the Burnaby refinery. Given these dynamics, we believe the Board should immediately start exploring all strategic alternatives for Parkland, including monetizing or separating the Burnaby refinery and the heating oil and propane distribution businesses. We are aware of several parties interested in these different assets. We acknowledge that such a sale is complicated by the need to structure a long-term contract since Parkland’s fuel retail operations will continue to be a major customer of the refinery. We also acknowledge that there is potential tax leakage that must be evaluated. Given these potential concerns, in addition to the consideration of the outright sales of these assets, the Board may want to evaluate a potential tax-free spinoff of the refinery and/or the commercial distribution businesses into a separate public company that could optimize its own capital allocation strategy and capital structure. In such a scenario, Parkland would become two public companies: Parkland RemainCo would be a higher growth pure play fuel and convenience retailer that would continue growing through M&A with a particular focus on improving and growing its merchandising operations. Parkland RemainCo would trade at a much higher multiple than the current Parkland multiple especially as its merchandising mix increases. This entity (with its higher multiple) would have a lower cost of capital and the currency to fuel its acquisitions. Parkland SpinCo would be a lower growth company with the refinery and/or the distribution businesses. This business could return most of its cash flows to shareholders through dividends. The close ties between the two companies could be maintained through contractual agreements or through other types of governance structures. While it is difficult as outsiders to opine whether a sale or a spin will maximize the most value for shareholders, it is something that the Board and its investment bank should immediately start exploring. While we acknowledge that there are some arguments that could be made as to why these businesses should stay together, it is clear to us that considering the complexity, the conglomerate discount and the long-term underperformance of Parkland’s stock that Parkland in its current form does not work as a standalone public entity. We believe that Parkland does not need to own all these assets under one corporate umbrella in order to achieve most of the vertical integration or scale benefits that it enjoys today. Instead, Parkland could rely on contractual agreements or other forms of control to achieve the best of both worlds – optimizing the value of the business, while keeping the benefits of scale and vertical integration. The Board may want to consider Marathon Petroleum Corporation (NYSE: MPC) (“Marathon”) as an interesting case study. Marathon was a complicated conglomerate with retail, refining and midstream businesses. Like Parkland, Marathon operated a vertically integrated business model and believed the business model created scale and synergies. Like Parkland, Marathon’s stock was a perennial underperformer. In August 2020, under pressure from shareholders, Marathon announced the sale of its retail operation (Speedway) to a large competitor. As part of the deal, it entered into a long-term supply agreement with the buyer to provide fuel as well as logistics and transportation services to the Speedway business, and used the proceeds of the sale to paydown debt and return capital to shareholders. More importantly, it simplified and refocused the business. Since announcing this sale in August 2020, Marathon’s share price has increased by around 258% and outperformed its peers by around 150%.4 2. Adhere to best corporate governance practices by refreshing the Board and adding directors with convenience merchandising and capital allocation experience. We are concerned that three of Parkland’s directors have served on the Board for 12 years or more, including Chairman Jim Pantelidis who has served on the Board for 24 years, and Mr. Spencer and Mr. Bechtold who have been on the Board for 21 and 17 years, respectively. Directors who have served for more than 12 years are deemed “stale” and non-independent based on criteria set by leading institutions and proxy advisors. CalPERS, which manages the largest public pension fund in the U.S., suggests that this length of service is around 12 years.5 While ISS does not currently have a voting policy relating to director tenure, its views on the topic are clear through its QuickScore governance rating system, which states that “limiting director tenure allows new directors to the board to bring fresh perspectives. A tenure of more than nine years is considered to potentially compromise a director's independence and as such QuickScore will consider tenure > 9 years excessive.” We are also concerned by the extensive interrelationships among certain directors. Mr. Pantelidis and Mr. Bechtold were senior executives and colleagues at Petro Canada for years before working on the Parkland Board together for more than 17 years. Mr. Pantelidis and Mr. Richardson also served together on the Board of Rona Inc. for years until its sale in 2016. Subsequently, Mr. Richardson joined the Parkland Board in 2017. Mr. Spencer, who has been on the Parkland Board since 2002, was considered a “non-independent director” until 2020 because he was a partner at Bennett Jones LLP, the Company’s law firm. Such interrelationships call into question whether these directors are capable of acting independently. We also note that Chairman Pantelidis is also the Chair of the Strategic Initiatives & Corporate Development Committee and that two of the four members of that committee include Mr. Pantelidis and Mr. Bechtold, who together have served on the Board for a cumulative total of 41 years. Given the necessary changes we highlight in this letter, we are concerned by the outsized influence of these long-tenured and interconnected directors have on the capital allocation and strategic direction of the Company. Given the long tenure and the interconnections of certain Board members and the fact that the vast majority of directors have energy and petroleum experience, we believe that the Board needs to be strengthened through the addition of new directors with more diverse skillsets. It is our view that investors would benefit by having shareholder-designated directors with convenience merchandising backgrounds, as well as financial and capital allocation experience added to the boardroom. 3. Improve the Company’s compensation framework to better align management’s incentives with shareholder’s interests. We believe Parkland’s executive compensation framework could be significantly improved by making the following changes: In conclusion, we believe that the value creation opportunity at Parkland is significant and that there are meaningful levers for the Board to significantly enhance shareholder value in the public market. If we assume an 8.5x EBITDA multiple for the fuel and convenience retail assets and a 5x EBITDA for the commercial and refining assets (both conservative multiples), we believe the stock would be worth around $45 per share, a premium of around 55% to Parkland’s recent price. If the Board is unwilling to optimize the business in the public market, we believe the Board should consider a sale of the entire Company to either private equity or strategic buyers. We request a meeting with members of the Board as soon as possible to discuss the matters and initiatives set forth in this letter. On behalf of Engine, we look forward to working cooperatively with you to increase long-term shareholder value. Sincerely, Arnaud Ajdler Brad Favreau Managing Partner Partner *** About Engine Capital Engine Capital LP is a value-oriented special situations fund that invests both actively and passively in companies undergoing change. ____________________________ 1 Total shareholders returns calculated as of the close of March 17, 2023. Convenience retailer peers consist of ATD, CASY and MUSA. Refinery peers consist of MPC, PSX, VLO, DINO, DK, PBF, CVI, PARR and CLMT. We did not include a 10-year TSR for the refinery peer group since Parkland only acquired the Burnaby refinery in 2017. 2 P/E and EBITDA multiples per CapitalIQ. 3 Complete list of peers can be found in the Company’s 2022 Management Information Circular. 4 Peers consist of PSX, VLO, DINO, DK, PB and CVI. 5 “Director Tenure: Boards should consider all relevant facts and circumstances to determine whether a director should be considered independent – these considerations include the director’s years of service on the board – extended periods of service may adversely impact a director’s ability to bring an objective perspective to the boardroom. We believe director independence can be compromised at 12 years of service – in these situations a company should carry out rigorous evaluations to either classify the director as non-independent or provide a detailed annual explanation of why the director can continue to be classified as independent.” Source: “Governance and Sustainability Principles”, California Public Employees Retirement System, September 2019. https://www.calpers.ca.gov/docs/forms-publications/governance-and-sustainability-principles.pdf
- 03/22/2023
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DCP Midstream Partners, LP (DCP) Up 0.2% Since Last Earnings Report: Can It Continue?
- DCP Midstream Partners, LP (DCP) reported earnings 30 days ago. What's next for the stock?
- 03/10/2023
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3 Natural Gas Stocks To Watch In Mid-February 2023
- Check out these three natural gas stocks in the stock market now.
- 02/22/2023
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DCP Midstream Preferred Equity - 8% Yield Via The Series C
- The DCP Series C Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units are preferred shares from DCP. DCP Midstream is set to be acquired by Phillips 66 as announced earlier this year.
- 02/14/2023
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DCP Midstream (DCP) Q4 Earnings Beat, Revenues Decline Y/Y
- Favorable NGL and gas marketing results, and tariffs on NGL pipelines aid DCP Midstream's (DCP) earnings in Q4.
- 02/09/2023
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DCP Midstream, LP: 8% Floating Rate Preferreds With Strong Coverage
- DCP.PB yields 7.75% and DCP.PC yields 7.88%. Their floating rates start in 2023, with potential 9.5% yields.
- 02/05/2023
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DCP Midstream Partners, LP (DCP) Flat As Market Gains: What You Should Know
- DCP Midstream Partners, LP (DCP) closed at $42.04 in the latest trading session, marking no change from the prior day.
- 02/01/2023
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Should Value Investors Buy DCP Midstream Partners (DCP) Stock?
- Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
- 02/01/2023
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3 Natural Gas Stocks To Watch Today
- Is now the right time add these natural gas stocks to your watch list?
- 01/26/2023
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DCP Midstream Partners, LP (DCP) Flat As Market Sinks: What You Should Know
- DCP Midstream Partners, LP (DCP) closed at $41.98 in the latest trading session, marking no change from the prior day.
- 01/17/2023
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Here Is Why Bargain Hunters Would Love Fast-paced Mover DCP Midstream Partners, LP (DCP)
- DCP Midstream Partners, LP (DCP) made it through our 'Fast-Paced Momentum at a Bargain' screen and could be a great choice for investors looking for stocks that have gained strong momentum recently but are still trading at reasonable prices.
- 01/16/2023
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Energy Income Weekly: A Resilient Start To 2023
- Income-producing energy stocks outperformed during the week's violent commodity selloff. The strong performance came from attractive valuations and the sector's positive outlook for 2023.
- 01/11/2023
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4 Stocks Trading Near 52-Week High That Can Scale Higher
- Investors target stocks that have been on a bullish run lately. Stocks like HRI, DCP, MRC and MCK that are seeing price strength have a high chance of carrying the momentum forward.
- 01/10/2023
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DCP Midstream Partners, LP (DCP) Soars 6.7%: Is Further Upside Left in the Stock?
- DCP Midstream Partners, LP (DCP) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.
- 01/09/2023
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DCP Stock Pops on Phillips 66 Acquisition News
- Anyone who's been invested in DCP Midstream (NYSE: DCP ) is probably quite happy today. That's because Phillips 66 (NYSE: PSX ) agreed to buy out DCP Midstream in an all-cash transaction later this year.
- 01/06/2023
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Buy These 5 Low Price-to-Sales Stocks to Get Standout Returns
- The price-to-sales ratio is a convenient tool to gauge the value of stocks incurring losses or in an early development cycle. Stocks like AIR, SIG, VSH, DCP and FAF hold promise.
- 01/06/2023
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3 Standout Relative Price Strength Stocks to Buy for 2023
- American Airlines (AAL), Titan Machinery (TITN), and DCP Midstream Partners (DCP) are three stocks with explosive relative price strength.
- 01/06/2023
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DCP Midstream stock up 5% as Phillips 66 moves to grow its stake
- DCP Midstream LP DCP, +1.89% stock rose 5.4% in premarket trades on Friday after its corporate parent Phillips 66 PSX, +2.32% said it would pay $41.75 per common unit to increase its stake in the pipeline partnership to 86.8%. The deal is valued at about $3.8 billion.
- 01/06/2023
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3 Natural Gas Stocks To Watch In January 2023
- Are these the best natural gas stocks to invest in right now?
- 01/05/2023
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After a Gloomy 2022, 2023 Could be Much Better: 5 Growth Picks
- 2023 is likely to be a much better year for the stock market than last year. Hence, it's wise for investors to invest in growth stocks like CalMaine Foods (CALM), ADT and Halliburton (HAL) as of now.
- 01/03/2023
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3 Energy Pipeline Stocks for Strong Yield, Inflation Hedge
- DCP Midstream Partners (DCP), Global Partners LP (GLP) and Delek Logistics Partners (DKL) are among the best inflation-protected investments in today's markets.
- 12/29/2022
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Here's Why DCP Midstream (DCP) is an Attractive Investment Bet
- DCP Midstream (DCP) strongly focuses on strengthening its balance sheet with the foremost priority of reducing its debt load.
- 12/28/2022
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Are Oils-Energy Stocks Lagging DCP Midstream Partners (DCP) This Year?
- Here is how DCP Midstream Partners, LP (DCP) and Murphy USA (MUSA) have performed compared to their sector so far this year.
- 12/26/2022
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Fast-paced Momentum Stock DCP Midstream Partners, LP (DCP) Is Still Trading at a Bargain
- DCP Midstream Partners, LP (DCP) could be a great choice for investors looking to buy stocks that have gained strong momentum recently but are still trading at reasonable prices. It is one of the several stocks that made it through our 'Fast-Paced Momentum at a Bargain' screen.
- 12/23/2022
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5 Price-to-Sales Stocks to Craft a Strong Investment Portfolio
- The price-to-sales ratio is a convenient tool to gauge the value of stocks incurring losses or in an early development cycle. Stocks like AIR, SIG, TA, DCP and PLUS hold promise.
- 12/22/2022
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3 Midstream Stocks to Gain Despite Energy Market Volatility
- Amid heightened volatility, it would be wise for investors to keep an eye on midstream stocks like DCP Midstream (DCP), The Williams Companies (WMB) and MPLX LP (MPLX).
- 12/20/2022
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Ride on Relative Price Strength With These 5 Quality Plays
- Tecnoglass (TGLS), Scorpio Tankers (STNG), DCP Midstream Partners (DCP), Titan Machinery (TITN) and Olympic Steel (ZEUS) are five stocks with explosive relative price strength.
- 12/19/2022
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3 Reasons Why Growth Investors Shouldn't Overlook DCP Midstream Partners, LP (DCP)
- DCP Midstream Partners, LP (DCP) could produce exceptional returns because of its solid growth attributes.
- 12/16/2022
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3 Undervalued Dividend Stocks to Buy for an Affluent Retirement
- Here we have shortlisted four undervalued dividend-paying stocks - DCP, CAG, and FNB - that investors may consider adding to their retirement portfolio amid current volatile market scenario.
- 12/09/2022
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Is DCP Midstream Partners (DCP) Stock Outpacing Its Oils-Energy Peers This Year?
- Here is how DCP Midstream Partners, LP (DCP) and Murphy USA (MUSA) have performed compared to their sector so far this year.
- 12/08/2022
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Buy These 5 Low Price-to-Sales Stocks for a Steady Portfolio
- The Price-to-sales ratio is a convenient tool to gauge the value of stocks incurring losses or in an early development cycle. Stocks like VLO, PBF, TA, DCP and PLUS hold promises.
- 12/06/2022
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DCP Midstream Partners, LP (DCP) Up 0.5% Since Last Earnings Report: Can It Continue?
- DCP Midstream Partners, LP (DCP) reported earnings 30 days ago. What's next for the stock?
- 12/02/2022
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Despite Fast-paced Momentum, DCP Midstream Partners, LP (DCP) Is Still a Bargain Stock
- DCP Midstream Partners, LP (DCP) made it through our 'Fast-Paced Momentum at a Bargain' screen and could be a great choice for investors looking for stocks that have gained strong momentum recently but are still trading at reasonable prices.
- 12/02/2022
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Top 5 Momentum Stocks for December After a Solid November
- We have narrowed our search to five momentum stocks that have solid upside left for December. These are: ANET, FTNT, DINO, DCP and TPL.
- 12/01/2022
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Is DCP Midstream Partners, LP (DCP) a Solid Growth Stock? 3 Reasons to Think "Yes"
- DCP Midstream Partners, LP (DCP) is well positioned to outperform the market, as it exhibits above-average growth in financials.
- 11/30/2022
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Are Investors Undervaluing DCP Midstream Partners (DCP) Right Now?
- Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
- 11/30/2022
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Buy 3 Top-Rated Momentum Stocks Using Driehaus Strategy
- StoneX Group (SNEX), DCP Midstream Partners (DCP) and Universal Logistics (ULH) have been selected as the momentum picks for the day using the Driehaus strategy.
- 11/29/2022
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3 Midstream Stocks to Gain in a Volatile Energy Market
- Amid heightened volatility, it would be wise for investors to keep an eye on midstream stocks like DCP Midstream (DCP), The Williams Companies (WMB) and MPLX LP (MPLX).
- 11/25/2022
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Is DCP Midstream Partners (DCP) Outperforming Other Oils-Energy Stocks This Year?
- Here is how DCP Midstream Partners, LP (DCP) and Now (DNOW) have performed compared to their sector so far this year.
- 11/22/2022
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5 Low Price-to-Sales Stocks to Strengthen Your Portfolio
- The Price-to-sales ratio is a convenient tool to gauge the value of stocks incurring losses or in an early development cycle. Stocks like GIII, PBF, TA, DCP and PLUS hold promises.
- 11/21/2022
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DCP Midstream (DCP) Gains Marginally Since Q3 Earnings Beat
- Increased NGL pipeline throughput aids DCP Midstream's (DCP) Q3 earnings.
- 11/21/2022
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New Strong Buy Stocks for November 17th
- PSX, DCP, RDY, PDFS and CRZBY have been added to the Zacks Rank #1 (Strong Buy) List on November 17, 2022.
- 11/17/2022
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Best Value Stocks to Buy for November 17th
- PSX, DCP and CORR made it to the Zacks Rank #1 (Strong Buy) value stocks list on November 17, 2022.
- 11/17/2022
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DCP Midstream Partners, LP (DCP) is an Incredible Growth Stock: 3 Reasons Why
- DCP Midstream Partners, LP (DCP) is well positioned to outperform the market, as it exhibits above-average growth in financials.
- 11/11/2022
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Is DCP Midstream Partners (DCP) Stock Undervalued Right Now?
- Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
- 11/10/2022
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Looking for a Fast-paced Momentum Stock at a Bargain? Consider DCP Midstream Partners, LP (DCP)
- DCP Midstream Partners, LP (DCP) could be a great choice for investors looking to buy stocks that have gained strong momentum recently but are still trading at reasonable prices. It is one of the several stocks that made it through our 'Fast-Paced Momentum at a Bargain' screen.
- 11/07/2022
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5 Low Price-to-Sales Stocks to Play in the Current Market
- The Price-to-sales ratio is a convenient tool to gauge the value of stocks incurring losses or in an early development cycle. Stocks like DISH, PBF, TA, DCP and R hold promises.
- 11/03/2022
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3 Top-Ranked Stocks Pushing 52-Week Highs
- Stocks making new highs tend to make even higher highs, especially when positive earnings estimate revisions roll in from analysts.
- 10/21/2022
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3 Reasons Growth Investors Will Love DCP Midstream Partners, LP (DCP)
- DCP Midstream Partners, LP (DCP) could produce exceptional returns because of its solid growth attributes.
- 10/21/2022
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Fast-paced Momentum Stock DCP Midstream Partners, LP (DCP) Is Still Trading at a Bargain
- DCP Midstream Partners, LP (DCP) made it through our 'Fast-Paced Momentum at a Bargain' screen and could be a great choice for investors looking for stocks that have gained strong momentum recently but are still trading at reasonable prices.
- 10/20/2022
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Should Value Investors Buy DCP Midstream Partners (DCP) Stock?
- Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
- 10/18/2022
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Go With The Flow: Outperforming Energy Preferreds From Crestwood And DCP Midstream, Yielding 8-9%
- The energy sector is the only positive sector in 2022 and over the last year. We profile three outperforming Energy stocks still selling at discounts.
- 10/16/2022
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Here's Why We Should Bet on Midstream Stocks to Beat Volatility
- Amid heightened volatility, it would be wise for investors to bet on midstream stocks like DCP Midstream (DCP), The Williams Companies (WMB) and MPLX LP (MPLX).
- 10/14/2022
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7 Natural Gas And Energy Stocks For Investors
- With the demand for natural gas increasing globally, we look at natural gas and energy stocks that investors should know about right now to take advantage of this in-demand sector.
- 10/13/2022
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Get Inflation Protection With These 3 Energy Pipeline Stocks
- MPLX LP (MPLX), DCP Midstream Partners (DCP) and Delek Logistics Partners (DKL) are among the best inflation-protected investments in today's markets.
- 10/11/2022
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These 2 High Yielders Could Benefit From The Supply Crunch Caused By The Russia-Ukraine War - DCP Midstream (NYSE:DCP), DT Midstream (NYSE:DTM)
- Since the Energy Select Sector SPDR FUN (ARCA: XLE) is down roughly 16% over the past month, it may be a good time to shop around for oversold equities in the oil and gas sector. Although investors are concerned about a recession slowing down the economy, natural gas prices are still at record highs.
- 09/29/2022
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Best Natural Gas Stocks To Buy Now? 2 To Watch Today
- Are these two natural gas stocks good additions to your long-term portfolio right now?
- 09/28/2022
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Are Investors Undervaluing DCP Midstream Partners (DCP) Right Now?
- Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
- 09/26/2022
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These 5 Low Price-to-Sales Stocks Can Refine Your Portfolio
- The Price-to-sales ratio is a convenient tool to gauge the value of stocks incurring losses or in an early development cycle. Stocks like CAL, SLGN, TA, DCP and UFPI hold promise.
- 09/26/2022
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Comparing MLP Preferred Stocks
- Adjustable-rate preferred stocks can offer some inflation protection. The 90-day LIBOR replacement rate looks settled to me.
- 09/18/2022
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DCP Midstream: Poised For Near-Term Growth But Be Cautious Buying
- DCP Midstream is certainly not everyone's favorite name in the space but there are reasons to like it. The company recently reported record cash flows due to rising volumes that are likely to increase further.
- 08/28/2022
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4 Energy Stocks for Growth-Oriented Investors
- Growth-oriented investors may want to consider the following stocks, since they represent businesses with price-earnings ratios below 20 that recorded significant improvements in their trailing 12-month net earnings per share over the past year and are recommended by Wall Street analysts.
- 08/19/2022
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These High-Yield Energy Stocks Are Making a Needle-Moving Trade to Enhance Their Dividends
- The energy companies are focusing on what they do best.
- 08/19/2022
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DCP Midstream: It's Sunny In Denver
- DCP Midstream is continuing to pay a more than 5% dividend, one that it can comfortably afford. At the same time, the company is continuing to opportunistically invest in growth capital, making opportunistic growth investments.
- 08/10/2022
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Despite Fast-paced Momentum, DCP Midstream Partners, LP (DCP) Is Still a Bargain Stock
- If you are looking for stocks that have gained strong momentum recently but are still trading at reasonable prices, DCP Midstream Partners, LP (DCP) could be a great choice. It is one of the several stocks that passed through our 'Fast-Paced Momentum at a Bargain' screen.
- 08/05/2022
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DCP Midstream, LP (DCP) CEO Wouter van Kempen on Q2 2022 Results - Earnings Call Transcript
- DCP Midstream, LP (NYSE:DCP ) Q2 2022 Earnings Conference Call August 3, 2022 12:00 PM ET Company Participants Michael Fullman - Director of Investor Relations Wouter van Kempen - Chairman, President and Chief Executive Officer Sean O'Brien - Chief Financial Officer Conference Call Participants Michael Blum - Wells Fargo Marc Solecitto - Barclays James Carreker - U.S. Capital Advisors Gabriel Moreen - Mizuho Group Operator Good day, ladies and gentlemen. Thank you for standing by, and welcome to DCP Midstream's Second Quarter 2022 Earnings Conference Call.
- 08/03/2022
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Is DCP Midstream Partners (DCP) Stock Undervalued Right Now?
- Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
- 08/03/2022
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Strong Permian Outlook Favorable for Midstream
- Summary The Permian's abundant resources, favorable economics, established infrastructure, and relative proximity to end markets will result in continued volume growth. While some of the largest public Permian producers are only growing modestly, the integrated majors and private exploration and production companies will play a significant role in driving production growth.
- 08/02/2022
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DCP Midstream Announces Time Change for Second Quarter 2022 Earnings Conference Call
- DENVER, July 20, 2022 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE: DCP) has changed the time of the conference call to discuss its second quarter 2022 earnings due to a scheduling conflict. The conference call will now be held at 12:00 p.m. ET on Wednesday, August 3, 2022. As previously announced, the corresponding earnings release will be issued after the New York Stock Exchange closes for trading on Tuesday, August 2, 2022.
- 07/20/2022
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DCP Midstream to Host Conference Call on August 3 to Discuss Second Quarter 2022 Financial Results
- DENVER, July 13, 2022 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE: DCP) announced that its second quarter 2022 earnings will be reported after the New York Stock Exchange closes for trading on Tuesday, August 2, 2022, and a conference call to discuss second quarter earnings will be hosted at 10:00 a.m. ET on Wednesday, August 3, 2022.
- 07/13/2022
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DCP Midstream: Don't Forget The Preferreds
- Market sell-offs open up opportunities not only in stocks but bonds and preferreds as well. DCP Midstream is one of the few remaining midstream firms with publicly-traded preferreds. They are likely to be retired soon.
- 07/05/2022
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Looking for Passive Income? Check Out This Under-the-Radar Dividend Stock.
- The company's recent deal could give it the fuel to start growing its dividend again.
- 06/15/2022
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DCP Midstream Remains An Interesting Investment
- DCP Midstream has gone from a company once at risk of bankruptcy to having one of the strongest midstream asset positions. The company has a strong dividend yield of more than 4%, which it has guided towards increasing in the 2nd half of the year.
- 06/02/2022
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DCP Midstream (DCP) Slides 6.4% as Q1 Earnings Miss Estimates
- Increased operating costs and expenses hurt DCP Midstream's (DCP) Q1 earnings.
- 05/17/2022
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3 Reasons Growth Investors Will Love DCP Midstream Partners, LP (DCP)
- DCP Midstream Partners, LP (DCP) could produce exceptional returns because of its solid growth attributes.
- 05/16/2022
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DCP Midstream to Participate in 2022 EIC Investor Conference
- DENVER, May 09, 2022 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE: DCP) announced that Wouter van Kempen, chairman, president, and chief executive officer, Sean O'Brien, group vice president and chief financial officer, and Bill Johnson, president of operations, north value chain will conduct a series of one-on-one and small group meetings with investment community representatives at the 2022 EIC Investor Conference in West Palm Beach, Florida on May 16, 2022. The materials used at this conference will be posted in advance of the conference on the Investors section of DCP Midstream's website at www.dcpmidstream.com.
- 05/09/2022
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DCP Midstream, LP (DCP) CEO Wouter van Kempen on Q1 2022 Results - Earnings Call Transcript
- DCP Midstream, LP (NYSE:DCP ) Q1 2022 Earnings Conference Call May 5, 2022 10:00 AM ET Company Participants Mike Fullman – Investor Relations Wouter van Kempen – Chairman, President and Chief Executive Officer Sean O'Brien – Chief Financial Officer Conference Call Participants Spiro Dounis – Credit Suisse Michael Blum – Wells Fargo Gabe Moreen – Mizuho Miko Cusumano – Pickering Energy Partners James Carreker – U.S. Capital Advisors Mike Fullman Thank you. Good morning, and welcome to the DCP Midstream first quarter 2022 earnings call.
- 05/05/2022
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5 Price-to-Sales Stocks With Scope for Handsome Returns
- Price-to-sales is a convenient tool to gauge the value of stocks incurring losses or are in an early development cycle. Stocks like AAN, HZO, MOS, R and DCP hold promise.
- 05/04/2022
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Looking for a Growth Stock? 3 Reasons Why DCP Midstream Partners, LP (DCP) is a Solid Choice
- DCP Midstream Partners, LP (DCP) is well positioned to outperform the market, as it exhibits above-average growth in financials.
- 04/25/2022
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DCP Midstream: Better Than Expected Performance, Still Not Worth Buying
- DCP Midstream provided better than expected performance during 2021, which appears likely to continue into 2022. Their guidance for circa 10% year-on-year earnings growth will help generate ample free cash flow during 2022 to fund higher distributions.
- 04/24/2022
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DCP Midstream Partners, LP (DCP) Shows Fast-paced Momentum But Is Still a Bargain Stock
- DCP Midstream Partners, LP (DCP) could be a great choice for investors looking to buy stocks that have gained strong momentum recently but are still trading at reasonable prices. It is one of the several stocks that made it through our 'Fast-Paced Momentum at a Bargain' screen.
- 04/22/2022
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DCP Midstream to Host Conference Call on May 5 to Discuss First Quarter 2022 Financial Results
- DENVER, April 14, 2022 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE: DCP) announced that its first quarter 2022 earnings will be reported after the New York Stock Exchange closes for trading on Wednesday, May 4, 2022, and a conference call to discuss first quarter earnings will be hosted at 10:00 a.m. ET on Thursday, May 5, 2022.
- 04/14/2022
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5 Pipeline Stocks to Hedge Your Portfolio Against Inflation
- SUN, DCP, DKL, MPLX and TRGP are among the best inflation-protected investments in today's markets.
- 04/14/2022
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3 Energy Stocks to Buy for April 2022
- Energy stocks were the strongest performing sector in 2021. This year has begun similarly.
- 04/12/2022
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FCG Is Still Attractive (Bullish Nat Gas Strip Pricing)
- FCG Is Still Attractive (Bullish Nat Gas Strip Pricing)
- 04/12/2022
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DCP Midstream (DCP): The Perfect Mix of Value and Rising Earnings Estimates?
- DCP Midstream (DCP) seems to be a good value pick, as it has decent revenue metrics to back up its earnings, and is seeing solid earnings estimate revisions as well.
- 04/07/2022
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DCP Midstream Partners, LP (DCP) is an Incredible Growth Stock: 3 Reasons Why
- DCP Midstream Partners, LP (DCP) could produce exceptional returns because of its solid growth attributes.
- 03/29/2022
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DCP Midstream Partners, LP (DCP) Moves to Strong Buy: Rationale Behind the Upgrade
- DCP Midstream Partners, LP (DCP) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).
- 03/29/2022
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Fast-paced Momentum Stock DCP Midstream Partners, LP (DCP) Is Still Trading at a Bargain
- If you are looking for stocks that have gained strong momentum recently but are still trading at reasonable prices, DCP Midstream Partners, LP (DCP) could be a great choice. It is one of the several stocks that passed through our 'Fast-Paced Momentum at a Bargain' screen.
- 03/29/2022
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New Strong Buy Stocks for March 29th
- PBF, TH, TECK, DCP, and RMNI have been added to the Zacks Rank #1 (Strong Buy) List on March 29, 2022.
- 03/29/2022
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Is DCP Midstream (DCP) Stock a Solid Choice Right Now?
- DCP Midstream (DCP) has seen solid earnings estimate revision activity over the past month, and belongs to a strong industry as well.
- 03/23/2022
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2 Under-the-Radar High-Yield Dividend Stocks That Should Thrive on $100 Oil
- Elevated oil prices will provide a dual boost to these dividend stocks.
- 03/19/2022
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High Flyers: 3 Natural Gas Stocks for March 2022
- Before you relegate natural gas stocks to a list of "stocks from the good old days," take a look at a few stocks blowing past traditional analysis.
- 02/28/2022
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DCP Midstream, LP (DCP) CEO Wouter Kempen on Q4 2021 Results - Earnings Call Transcript
- DCP Midstream, LP (DCP) CEO Wouter Kempen on Q4 2021 Results - Earnings Call Transcript
- 02/10/2022
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DCP Midstream (DCP) Q4 Earnings Beat Estimates, Revenues Miss
- Increased wellhead volumes in the North and Midcontinent drive DCP Midstream's (DCP) Q4 earnings.
- 02/10/2022
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DCP Midstream: Earn A Very Sustainable 5.50% Yield
- DCP Midstream is one of the largest midstream partnerships in the United States and boasts a very strong position in the Permian Basin.
- 01/30/2022
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DCP Midstream to Host Conference Call on February 10 to Discuss 2021 Financial Results and 2022 Guidance
- DENVER, Jan. 17, 2022 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE: DCP) announced that its fourth quarter 2021 earnings will be reported after the New York Stock Exchange closes for trading on Wednesday, February 9, 2022, and a conference call to discuss fourth quarter and full year 2021 earnings and 2022 guidance will be hosted at 10:00 a.m. ET on Thursday, February 10, 2022.
- 01/17/2022
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DCP Midstream to Participate in UBS Winter Infrastructure & Energy Virtual Conference
- DENVER, Jan. 06, 2022 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE: DCP) announced that Wouter van Kempen, chairman, president, and chief executive officer and Sean O'Brien, group vice president and chief financial officer will conduct a series of virtual one-on-one and small group meetings with investment community representatives at the UBS Winter Infrastructure & Energy Virtual Conference on January 11, 2022. The materials used at this conference will be posted to the Investors section of DCP Midstream's website at www.dcpmidstream.com on January 10, 2022.
- 01/06/2022
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DCP Midstream: Higher Distributions In 2022, But Still Not Buying This 6%+ Yield
- The management of DCP Midstream appears to have flagged potentially higher distributions in 2022, although issues remain.
- 12/22/2021
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DCP Midstream Partners, LP (DCP) Down 15.6% Since Last Earnings Report: Can It Rebound?
- DCP Midstream Partners, LP (DCP) reported earnings 30 days ago. What's next for the stock?
- 12/02/2021
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DCP Midstream (DCP) Stock Slips 4.8% Since Q3 Earnings Miss
- Lower NGL pipelines throughput volumes hurt DCP Midstream's (DCP) Q3 earnings.
- 11/08/2021
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DCP Midstream, LP (DCP) CEO Wouter van Kempen on Q3 2021 Results - Earnings Call Transcript
- DCP Midstream, LP (DCP) CEO Wouter van Kempen on Q3 2021 Results - Earnings Call Transcript
- 11/03/2021
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FMO: Earn A High Yield In The Midstream Space With This Solid Fund
- FMO: Earn A High Yield In The Midstream Space With This Solid Fund
- 10/17/2021
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DCP Midstream Announces Common and Preferred Unit Distributions and Timing of Third Quarter Earnings Conference Call
- DENVER, Oct. 12, 2021 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE: DCP) today announced common and preferred unit distributions for third quarter 2021. Further, DCP announced that its third quarter 2021 earnings will be reported after the New York Stock Exchange closes for trading on Tuesday, November 2, 2021, and a conference call to discuss quarterly earnings will be hosted at 10:00 a.m. ET on Wednesday, November 3, 2021.
- 10/12/2021
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DCP Midstream - Room To Run
- DCP Midstream - Room To Run
- 10/10/2021
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DCP Midstream: Performing Well But Leverage Is Way Higher Than It Seems
- DCP Midstream: Performing Well But Leverage Is Way Higher Than It Seems
- 09/08/2021
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DCP Midstream to Participate in Barclays CEO Energy-Power Conference
- DENVER, Sept. 01, 2021 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE: DCP) announced that Wouter van Kempen, chairman, president, and chief executive officer, and Sean O'Brien, group vice president and chief financial officer, will participate in a fireside chat and conduct a series of one-on-one and small group meetings with investors at the Barclays CEO Energy-Power Conference on September 9, 2021. The materials to be used at this conference will be posted to the Investors section of DCP Midstream's website at www.dcpmidstream.com on September 8, 2021.
- 09/01/2021
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DCP Midstream to Participate in Evercore ISI ESG Roundtable
- DENVER, Aug. 26, 2021 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE: DCP) announced that Wouter van Kempen, chairman, president, and chief executive officer, Sean O'Brien, group vice president and chief financial officer, and William Johnson, group vice president and chief transformation officer, will participate in an ESG roundtable with a focus on discussing the company's second annual sustainability report: Resiliency and Evolution. This roundtable will be hosted by Evercore ISI on September 1, 2021. The report is available in the Sustainability section of DCP Midstream's website at www.dcpmidstream.com.
- 08/26/2021
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High-Yielding Portfolio Of Top 7 Mid-Cap Midstream Oil And Gas To Buy And Forget
- High-Yielding Portfolio Of Top 7 Mid-Cap Midstream Oil And Gas To Buy And Forget
- 08/21/2021
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DCP Midstream (DCP) Gains Marginally Despite Q2 Earnings Miss
- A decline in NGL pipelines throughput volumes hurts DCP Midstream's (DCP) Q2 earnings.
- 08/16/2021
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DCP Midstream to Participate in 2021 Citi One-on-One Midstream & Energy Infrastructure Conference
- DENVER, Aug. 12, 2021 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE: DCP) announced that Wouter van Kempen, chairman, president, and chief executive officer and Sean O'Brien, group vice president and chief financial officer will conduct a series of virtual meetings with investment community representatives at the 2021 Citi One-on-One Midstream & Energy Infrastructure Conference on August 18, 2021. The materials to be used at this conference will be posted to the Investors section of DCP Midstream's website at www.dcpmidstream.com on August 17, 2021.
- 08/12/2021
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DCP Midstream, LP (DCP) CEO Wouter van Kempen on Q2 2021 Results - Earnings Call Transcript
- DCP Midstream, LP (DCP) CEO Wouter van Kempen on Q2 2021 Results - Earnings Call Transcript
- 08/05/2021
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DCP Midstream Reports Second Quarter Results and Guides to High End of Financial Guidance Range
- DENVER, Aug. 04, 2021 (GLOBE NEWSWIRE) -- Today, DCP Midstream, LP (NYSE: DCP) reported its financial results for the three and six months ended June 30, 2021.
- 08/04/2021
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DCP Midstream Releases Second Annual Sustainability Report, Announces Environmental and Diversity Goals, and Commits to Industry-First ESG-Linked Accounts Receivable Securitization Facility
- DENVER, Aug. 02, 2021 (GLOBE NEWSWIRE) -- Today, DCP Midstream, LP (NYSE: DCP) announces the publication of its second annual Sustainability Report. The report, titled “Resiliency and Evolution” highlights DCP's environmental, social, and governance (ESG) outcomes from the 2020 calendar year, announces forward-looking goals on greenhouse gas emissions reductions and inclusion and diversity outcomes, and outlines strategies within a variety of DCP's ESG-related efforts. Additionally, disclosures within the report are aligned with the Sustainability Accounting Standards Board (SASB) Midstream Reporting Standards and the Energy Infrastructure Council (EIC) and GPA Midstream Association ESG Reporting Template. An electronic version of the report is available at https://www.dcpmidstream.com/sustainability .
- 08/02/2021
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DCP Midstream Announces Common and Preferred Unit Distributions
- DENVER, July 20, 2021 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE: DCP) announced today that the board of directors of its general partner declared a second quarter 2021 common unit distribution of $0.39 per unit, or $1.56 per unit on an annualized basis. This quarterly common unit distribution will be paid August 13, 2021 to common unitholders of record at the close of business on July 30, 2021.
- 07/20/2021
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DCP Midstream to Host Conference Call on August 5 to Discuss Second Quarter 2021 Financial Results
- DENVER, July 15, 2021 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE: DCP) will host a conference call to discuss its second quarter 2021 earnings at 10:00 a.m. ET on Thursday, August 5, 2021, which will be released after the New York Stock Exchange closes for trading on Wednesday, August 4, 2021.
- 07/15/2021
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FEN: Not A Good Value Today
- FEN: Not A Good Value Today
- 07/11/2021
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DCP Midstream (DCP) Up 37.2% in 3 Months: More Room to Run?
- DCP Midstream's (DCP) Spindletop natural gas storage unit in Southeast Texas, with 12 billion cubic feet of capacity, is a major positive.
- 07/08/2021
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DCP Midstream: Time To Take The Profits Off The Table
- DCP Midstream has seen its unit price rally strongly since the lows of 2020 and it now appears to be time to take the profits off the table. Their distributions remain risky given their very high leverage and weak liquidity that sees them reliant upon their credit facility, which also hinders their growth prospects.
- 06/27/2021
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DCP Midstream to Participate in J.P. Morgan 2021 Energy, Power & Renewables Conference
- DENVER, June 15, 2021 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE: DCP) announced that Sean O'Brien, group vice president and chief financial officer and Bill Johnson, group vice president and chief transformation officer will conduct a series of virtual one-on-one and small group meetings with investment community representatives at the J.P. Morgan 2021 Energy, Power & Renewables Conference on June 22, 2021. The materials to be used at this conference are posted to the Investors section of DCP Midstream's website at www.dcpmidstream.com.
- 06/15/2021
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DCP Midstream to Participate in Bank of America 2021 Energy Credit Conference
- DENVER, June 07, 2021 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE: DCP) announced that Sean O'Brien, group vice president and chief financial officer will conduct a series of virtual one-on-one and small group meetings with investment community representatives at the Bank of America 2021 Energy Credit Conference on June 9, 2021. The materials used at this conference will be posted to the Investors section of DCP Midstream's website at www.dcpmidstream.com on June 8, 2021.
- 06/07/2021
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Extraordinary 9% Dividend Yield Plus Steady Price Appreciation: Antero Midstream
- Extraordinary 9% Dividend Yield Plus Steady Price Appreciation: Antero Midstream
- 06/06/2021
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Midstream Income Opportunities: Dividends Resilient Throughout Recent Quarters
- As the financial implications of COVID worsened in early 2020, midstream yields increased to peak levels due to overall weak equity performance, and multiple midstream corporations and MLPs cut their dividends by 50% or more, though cuts were biased to smaller names in the space. Since then, dividends have remained mostly stable each quarter, which allowed yields to moderate to more sustainable levels as equity prices continued to improve.
- 06/04/2021
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DCP Midstream (DCP) Units Rise 6.5% Since Q1 Earnings Miss
- DCP Midstream (DCP) keeps its 2021 financial guidance unchanged despite facing several negative impacts in the first quarter.
- 05/12/2021
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DCP Midstream's (DCP) CEO Wouter van Kempen on Q1 2021 Results - Earnings Call Transcript
- DCP Midstream's (DCP) CEO Wouter van Kempen on Q1 2021 Results - Earnings Call Transcript
- 05/06/2021
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DCP Midstream Reports First Quarter Results
- DENVER, May 05, 2021 (GLOBE NEWSWIRE) -- Today, DCP Midstream, LP (NYSE: DCP) reported its financial results for the three months ended March 31, 2021.
- 05/05/2021
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Small- And Mid-Cap Midstream Review
- Small- And Mid-Cap Midstream Review
- 04/26/2021
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DCP Midstream Announces Common and Preferred Unit Distributions
- DENVER, April 20, 2021 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE: DCP) announced today that the board of directors of its general partner declared a first quarter 2021 common unit distribution of $0.39 per unit, or $1.56 per unit on an annualized basis. This quarterly common unit distribution will be paid May 14, 2021 to common unitholders of record at the close of business on April 30, 2021.
- 04/20/2021
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Energy Q1 Earnings Ahead: Can Higher Prices Quell Winter Woes?
- Halliburton (HAL), Kinder Morgan (KMI) and Schlumberger (SLB) all report first-quarter results this week and are viewed as an important read on the sector's outlook for the remainder of 2021.
- 04/20/2021
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DCP Midstream to Host Conference Call on May 6 to Discuss First Quarter 2021 Financial Results
- DENVER, April 15, 2021 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE: DCP) will host a conference call to discuss its first quarter 2021 earnings at 10:00 a.m. ET on Thursday, May 6, 2021, which will be released after the New York Stock Exchange closes for trading on Wednesday, May 5, 2021.
- 04/15/2021
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DCP Midstream - It's A Steal At $22
- Given the free cash flow DCP is generating, it is a steal at $22. Compared to similar names, DCP needs relatively little in CAPEX to sustain its cash flow.
- 04/12/2021
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EMO: A Solid Midstream Fund Trading At A Huge Discount
- EMO: A Solid Midstream Fund Trading At A Huge Discount
- 04/08/2021
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8 High-Risk Stocks to Buy That Are Worth Taking A Chance On
- A rebounding economy is a good time to thaw out your risk capital and start buying some high-risk stocks with long-term potential. The post 8 High-Risk Stocks to Buy That Are Worth Taking A Chance On appeared first on InvestorPlace.
- 04/06/2021
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7 Low Price-to-Sales Picks to Create Value-Based Returns
- A stock's price-to-sales ratio reflects how much investors are paying for each dollar of revenues generated by a company.
- 03/23/2021
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DCP Midstream: Our Best Investment Keeps Getting Better
- DCP Midstream: Our Best Investment Keeps Getting Better
- 03/22/2021
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DCP Midstream: Sorry, But That 7% Yield Is Still Fundamentally Risky
- It has been a while since providing an analysis on DCP Midstream with their distributions previously being determined risky during the middle of 2020 and the Covid-19 economic downturn. Fast forward to early 2021 and sadly their high distribution yield of almost 7% still appears risky.
- 03/19/2021
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DCP Midstream to Participate in Truist Securities 4th Annual Utilities, Midstream & Alternative Energy Summit
- DENVER, March 18, 2021 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE: DCP) announced that Wouter van Kempen, chairman, president, and chief executive officer and Sean O'Brien, group vice president and chief financial officer will conduct a series of virtual one-on-one and small group meetings with investment community representatives at the Truist Securities 4th Annual Utilities, Midstream & Alternative Energy Summit on March 25, 2021.
- 03/18/2021
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Should Value Investors Choose DCP Midstream (DCP) Stock?
- Let's see if DCP Midstream (DCP) stock is a good choice for value-oriented investors right now from multiple angles.
- 03/16/2021
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Why Is DCP Midstream Partners, LP (DCP) Up 22.8% Since Last Earnings Report?
- DCP Midstream Partners, LP (DCP) reported earnings 30 days ago. What's next for the stock?
- 03/12/2021
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DCP Midstream Files Form 10-K for Fiscal Year 2020
- DENVER, Feb. 19, 2021 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE: DCP) has filed its Form 10-K for the fiscal year ended December 31, 2020 with the Securities and Exchange Commission. A copy of the Form 10-K, which contains our audited financial statements, is available on the investor section of our website at www.dcpmidstream.com. Investors may request a hardcopy of the Form 10-K free of charge by sending a request to the office of the Corporate Secretary of DCP Midstream at 370 17th Street, Suite 2500, Denver, Colorado 80202.
- 02/19/2021
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DCP Midstream, LP (DCP) CEO Wouter van Kampen on Q4 2020 Results - Earnings Call Transcript
- DCP Midstream, LP (DCP) CEO Wouter van Kampen on Q4 2020 Results - Earnings Call Transcript
- 02/11/2021
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DCP Midstream (DCP) Q4 Earnings Miss on Lower Guadalupe Profits
- DCP Midstream's (DCP) excess free cash flow is likely to rise more than 60% in 2021.
- 02/11/2021
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DCP Midstream Reports Fourth Quarter Results and Announces 2021 Guidance
- DENVER, Feb. 10, 2021 (GLOBE NEWSWIRE) -- Today, DCP Midstream, LP (NYSE: DCP) reported its financial results for the quarter and year ended December 31, 2020.
- 02/10/2021
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DCP Midstream: A Fueled Vehicle Ready For Take-Off
- DCP Midstream: A Fueled Vehicle Ready For Take-Off
- 02/09/2021
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Should Value Investors Buy DCP Midstream Partners, LP (DCP) Stock?
- Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
- 02/09/2021
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Is DCP Midstream Partners, (DCP) Stock Outpacing Its Oils-Energy Peers This Year?
- Is (DCP) Outperforming Other Oils-Energy Stocks This Year?
- 02/09/2021
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DCP Midstream: Unloved, But This 7.4%-Yielder Has Potential
- DCP Midstream earned the ire of investors last year when it slashed its distribution, even though it did not actually need to. The company enjoys reasonably stable cash flows that are not affected too much by fluctuations in commodity prices.
- 02/08/2021
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What's in the Cards for DCP Midstream's (DCP) Q4 Earnings?
- DCP Midstream's (DCP) fourth-quarter results are likely to be affected by lower natural gas wellhead volumes.
- 02/08/2021
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5 Relative Price Strength Stocks That Investors Will Love
- DCP Midstream (DCP), TEGNA (TGNA), Hologic (HOLX), Crocs (CROX) and Skyworks Solutions (SWKS) are five stocks with explosive relative price strength.
- 02/05/2021
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DCP Midstream Joins The Environmental Partnership
- DENVER, Feb. 03, 2021 (GLOBE NEWSWIRE) -- Today, DCP Midstream (NYSE: DCP) announced it has joined The Environmental Partnership, a growing coalition of companies in the U.S. oil and natural gas industry committed to continuously improving the industry's environmental performance by taking action in operations; building upon our knowledge; and fostering collaboration.
- 02/03/2021
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Top Ranked Value Stocks to Buy for February 3rd
- Top Ranked Value Stocks to Buy for February 3rd
- 02/03/2021
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Top Ranked Value Stocks to Buy for February 1st
- Top Ranked Value Stocks to Buy for February 1st
- 02/01/2021
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This Energy Stock Is Too Cheap to Pass Up
- Investors get paid very well while waiting for the market to wake up and realize this energy stock's underlying value.
- 01/31/2021
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5 High-Yield Dividend Stocks to Watch
- These dividend stocks look intriguing.
- 01/24/2021
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DCP Midstream Announces Common and Preferred Unit Distributions
- DENVER, Jan. 21, 2021 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE: DCP) announced today that the board of directors of its general partner declared a fourth quarter 2020 common unit distribution of $0.39 per unit, or $1.56 per unit on an annualized basis. This quarterly common unit distribution will be paid February 12, 2021 to common unitholders of record at the close of business on February 5, 2021.
- 01/21/2021
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NOV Gives Update on Fourth-Quarter 2020 Operational Guidance
- NOV anticipates it fourth-quarter 2020 revenues to be $1.33 billion, lower than its prior outlook.
- 01/20/2021
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7 Low Price-to-Sales Stocks Likely to Deliver Robust Value
- A stock's price-to-sales ratio reflects how much investors are paying for each dollar of revenues generated by a company.
- 01/20/2021
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DCP Midstream's (DCP) Shares March Higher, Can It Continue?
- As of late, it has definitely been a great time to be an investor in DCP Midstream, LP (DCP).
- 01/20/2021
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DCP Midstream to Participate in U.S. Capital Advisors 10th Annual Midstream Conference
- DENVER, Jan. 19, 2021 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE: DCP) announced that Wouter van Kempen, chairman, president, and chief executive officer and Sean O'Brien, group vice president and chief financial officer will conduct a series of virtual one-on-one and small group meetings with investment community representatives at the U.S. Capital Advisors 10th Annual Midstream Conference on January 26, 2021. The materials used at this conference are posted to the Investors section of DCP Midstream's website at www.dcpmidstream.com.
- 01/19/2021
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DCP Midstream to Host Conference Call to Discuss 2020 Financial Results and 2021 Guidance
- DENVER, Jan. 14, 2021 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE: DCP) will host a conference call to discuss its fourth quarter and full year 2020 earnings and 2021 guidance at 10:00 a.m. ET on Thursday, February 11, 2021, which will be released after the New York Stock Exchange closes for trading on Wednesday, February 10, 2021.
- 01/14/2021
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Top Ranked Income Stocks to Buy for January 12th
- Top Ranked Income Stocks to Buy for January 12th
- 01/12/2021
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President Biden And MLPs: Unlikely Bedfellows
- Previously unlikely, Democrat control of Congress assuredly means higher taxes are coming. Corporate tax rates are going up as well as taxes on dividends for high income individuals under the prospective Biden plan.
- 01/10/2021
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Top Ranked Income Stocks to Buy for January 8th
- Top Ranked Income Stocks to Buy for January 8th
- 01/08/2021
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Has DCP Midstream Partners, (DCP) Outpaced Other Oils-Energy Stocks This Year?
- Is (DCP) Outperforming Other Oils-Energy Stocks This Year?
- 01/08/2021
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DCP Midstream to Participate in UBS Winter Infrastructure & Energy Virtual Conference
- DENVER, Jan. 06, 2021 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE: DCP) announced that Wouter van Kempen, chairman, president, and chief executive officer and Sean O'Brien, group vice president and chief financial officer will conduct a series of one-on-one and small group meetings with investment community representatives at the UBS Winter Infrastructure & Energy Virtual Conference on January 12, 2021. The materials used at this conference will be posted to the Investors section of DCP Midstream's website at www.dcpmidstream.com on January 11, 2021.
- 01/06/2021
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7 Low Price-to-Sales Stocks to Buy for an Attractive Portfolio
- A stock with a lower price-to-sales ratio is a more suitable investment than a stock with a high price-to-sales ratio.
- 01/05/2021
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Combine DCP Midstream's 8.3% Yield And Its 9% Yielding Preferreds For A Resilient Income
- Combine DCP Midstream's 8.3% Yield And Its 9% Yielding Preferreds For A Resilient Income
- 12/29/2020
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Top Ranked Income Stocks to Buy for December 29th
- Top Ranked Income Stocks to Buy for December 29th
- 12/29/2020
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Top Ranked Income Stocks to Buy for December 28th
- Top Ranked Income Stocks to Buy for December 28th
- 12/28/2020
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5 High-Yield Dividend Stocks for Steady Income Stream in 2021
- Stocks like AGNC Investment (AGNC), DCP Midstream (DCP), Canadian Imperial Bank (CM), China Petroleum & Chemical Corporation (SNP) and Vodafone (VOD) offer a healthy dividend yield to satiate the appetite of risk-averse investors.
- 12/22/2020
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Top Ranked Income Stocks to Buy for December 21st
- Top Ranked Income Stocks to Buy for December 21st
- 12/21/2020
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Make a Fortune in 2021 With These 7 Low Price-to-Sales Stocks
- A stock's price-to-sales ratio reflects how much investors are paying for each dollar of revenues generated by a company.
- 12/17/2020
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5 Beaten-Down Energy Stocks to Buy for a Turnaround in 2021
- With energy set for a strong 2021 on vaccine-led demand boost, 5 underperformers of this year - DCP Midstream (DCP), Sinopec (SNP), Vermilion Energy (VET), NOW (DNOW) and Enerplus (ERF) - are likely to rebound.
- 12/17/2020
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DCP Midstream to Participate in Investor Conferences
- DENVER, Dec. 01, 2020 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE: DCP) announced that Wouter van Kempen, chairman, president, and chief executive officer and Sean O'Brien, group vice president and chief financial officer will conduct a series of virtual one-on-one and small group meetings with investment community representatives at the following conferences:
- 12/01/2020
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Is DCP Midstream Stock a Buy?
- A yield of over 9% certainly seems tempting.
- 11/30/2020
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Where Do Hedge Funds Stand On DCP Midstream LP (DCP)?
- At Insider Monkey, we pore over the filings of nearly 817 top investment firms every quarter, a process we have now completed for the latest reporting period. The data we've gathered as a result gives us access to a wealth of collective knowledge based on these firms' portfolio holdings as of September 30. In this article, we will use that wealth of knowledge to determine whether or not DCP Midstream LP (NYSE:DCP) makes for a good investment right now.
- 11/27/2020
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Time To Bet Heavily On Energy With J Mintzmyer And Michael Boyd (Podcast Transcript)
- Time To Bet Heavily On Energy With J Mintzmyer And Michael Boyd (Podcast Transcript)
- 11/23/2020
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DCP Midstream: A Uniquely Investable Midstream Company
- DCP Midstream is a uniquely investable midstream company with the ability to drive significant shareholder rewards. The company has seen continuous demand from insiders and is paying its distribution while repurchasing debt.
- 11/19/2020
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DCP Midstream to Participate in 2020 RBC Capital Markets Midstream and Energy Infrastructure Virtual Conference
- DENVER, Nov. 13, 2020 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE: DCP) announced that Wouter van Kempen, chairman, president, and chief executive officer and Sean O'Brien, group vice president and chief financial officer will conduct a series of one-on-one and small group meetings with investment community representatives at the 2020 RBC Capital Markets Midstream and Energy Infrastructure Virtual Conference on November 18, 2020. The materials used at this conference will be posted on the Investors section of DCP Midstream's website at www.dcpmidstream.com on November 17, 2020.
- 11/13/2020
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DCP Midstream: Undervalued Assets, Continued Cash
- DCP Midstream has undervalued assets and new FCF that it's been using to paydown debt. We'd like to see the company continue to pay down its significant debt load, making it a primarily target during the 2020s, while rewarding shareholders.
- 11/09/2020
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DCP Midstream, LP (DCP) CEO Wouter van Kampen on Q3 2020 Results - Earnings Call Transcript
- DCP Midstream, LP (DCP) CEO Wouter van Kampen on Q3 2020 Results - Earnings Call Transcript
- 11/07/2020
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This 8%-Yielding Oil Stock Sees More Dividend Growth Ahead
- The pipeline giant is slowly pivoting toward renewable energy to power future dividend growth.
- 11/07/2020
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Tension grips Delhi’s Kanjhawala after 23-yr-old man lynched, 1 injured
- Police and Rapid Action Force (RAF) personnel have been deployed in the neighbourhood even as senior police officers said the situation was under control and that efforts were being made to involve influential voices in the local communities to rein in mischief-mongers.
- 09/24/2020
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Haryana government transfers 25 IPS, 9 HPS officers
- Kurukshetra superintendent of police (SP) Astha Modi was transferred and posted as deputy commissioner of police (DCP headquarter) Gurugram. Hisar SP Ram Punia has been posted as Karnal SP replacing Surinder Singh Bhoria while SP, GRP, Himanshu Garg has been posted as Jhajjar SP.
- 09/22/2020
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Midstream Yield High, Interest Low
- Midstream stocks bounced back early in the week after two rough weeks. As the market rolled over later in the week, midstream and MLPs were dragged back down.
- 09/21/2020
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DCP Midstream (NYSE:DCP) Shares Gap Up to $10.87
- DCP Midstream LP (NYSE:DCP) gapped up prior to trading on Friday . The stock had previously closed at $10.87, but opened at $11.59. DCP Midstream shares last traded at $10.67, with a volume of 2,073 shares changing hands. Several research analysts have recently commented on the stock. UBS Group raised shares of DCP Midstream from […]
- 09/20/2020
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Midstream/MLP Capex And Projects: Where's The Growth?
- Midstream capital spending is expected to continue to decline after 2020, driving free cash flow generation.
- 09/18/2020
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Human-Resources Provider Reviews DCP Capital Bid
- 51job said it is reviewing a proposal from private-equity firm DCP Capital Partners to acquire the company for $79.05 a share in cash, or about $5.3 billion based on shares outstanding.
- 09/17/2020
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Colorado Regulators Pursue Pseudo Fracking Ban, Understanding The Impacts
- The Colorado Oil and Gas Conservation Commission, fresh with a new mandate, is primed to dramatically increase setback rules.
- 09/14/2020
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Another Setback For Midstream
- Midstream struggled again this week in a risk-off week for stocks and commodity prices. Utilities and infrastructure outperformed, starting to show more consistent defensive characteristics since the market rolled over a few weeks ago.
- 09/13/2020
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Natural Gas And NGLs: A Bright Spot In Energy
- Natural gas prices have increased significantly year-to-date on the back of an improved supply-demand balance, and NGL prices are nearly flat on the year even as oil is still down significantly.
- 09/09/2020
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TYG: This CEF Has Been Devastated By The COVID-19 Pandemic
- This CEF has been significantly hit by the COVID-19 pandemic and the low crude oil price environment. The key bullish catalyst is a sooner-than-expected end of the COVID-19 pandemic.
- 09/04/2020
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DCP Midstream: Don't Miss Out On The Rest Of The Recovery
- DCP Midstream has been punished heavily, however, the company still has incredibly strong financials with DCF increases YoY.
- 09/03/2020
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DCP Midstream LP : Second Quarter 2020 Earnings Transcript | MarketScreener
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Enlink Preferred: A Solid 15.3% Yielder That Most Income Investors Have Never Even Heard Of
- The Enlink preferred stock is a par $1,000 issue that trades by CUSIP on the bond market. This is the first Seeking Alpha article to cover this issue.
- 08/24/2020
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Assessing Midstream's ESG Journey So Far
- ESG reporting has continued to gain traction in midstream with six more companies publishing their inaugural sustainability reports in the last ten months.
- 08/21/2020
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Is DCP Midstream Stock a Buy?
- Master limited partnership DCP Midstream (NYSE: DCP) currently yields an eye-popping 10.8% even though it slashed distribution by 50% earlier this year. During the oil market meltdown in March, DCP Midstream joined many of its energy sector peers by reducing its distribution. The company also cut its capital expense budget by 75% and reduced other costs.
- 08/19/2020
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Steady Midstream EBITDA Outlooks Contrast With Performance
- Forward EBITDA estimate revisions for midstream have been resilient in contrast to other sectors of energy because of their fee-based business models and contract protections such as minimum volume commitments.
- 08/19/2020
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These 3 Ultra-High-Yield Stocks Are Starting to Look Attractive
- This year has not been a good one for income investors. While investors experienced industrywide dividend destruction, the energy sector was among the hardest hit because demand and pricing for oil cratered. Now dividend investors can pick through the carnage and find some enticing payouts.
- 08/16/2020
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Stocks To Watch: Walmart, Target, Kandi And Gold vs. Bitcoin
- Welcome to Seeking Alpha's Stocks to Watch - a preview of key events scheduled for the next week. Follow this account and turn the e-mail alert on to receive this article in your inbox every Saturday morning.
- 08/15/2020
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DCP Midstream (DCP) Presents At Citi Midstream Energy Infrastructure Conference - Slideshow
- The following slide deck was published by DCP Midstream, LP in conjunction with this event.
- 08/13/2020
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Head constable killed after drunk driver rams police van in north campus
- New Delhi: A head constable was killed and another policeman injured when an allegedly drunk 19-year-old student drove his Honda City into an anti-street crimes police van,...
- 08/10/2020
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Midstream Restraint Rewarded
- Midstream was higher each of the first 4 days this week, before taking a breather Friday, to finish up 5-6% over last week.
- 08/10/2020
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Envestnet Asset Management Inc. Has $347,000 Stake in DCP Midstream LP (NYSE:DCP)
- Envestnet Asset Management Inc. grew its holdings in DCP Midstream LP (NYSE:DCP) by 96.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 30,727 shares of the pipeline company’s stock after purchasing an additional 15,092 shares during the quarter. Envestnet Asset Management Inc.’s holdings in […]
- 08/10/2020
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Police across multiple jurisdictions saves life of man in Mumbai
- A Facebook official informed him that their systems have identified suicidal activity on one Facebook account belonging to a Delhi resident.
- 08/09/2020
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How a call from Ireland and quick police action across states saved a person in psychological stress
- There are countless examples of police officials helping individuals and sometimes even bringing them back from the decision of committing suicide. Such an effort saved a man's life in Mumbai. It took a call from Facebook official from Ireland and co-ordination between police of two states.
- 08/09/2020
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DCP Midstream Operating LP -- Moody's announces completion of a periodic review of ratings of DCP Midstream, LP
- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of DCP Midstream, LP and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. Since 1 January 2019, Moody's practice has been to issue a press release following each periodic review to announce its completion.
- 08/07/2020
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Colony Capital Announces Second Quarter 2020 Financial Results
- Colony Capital, Inc. (NYSE:CLNY) and subsidiaries (collectively, “Colony Capital,” or the “Company”) today announced financial results for the second
- 08/07/2020
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EnerCom's Virtual The Oil & Gas Conference® will Host Midstream Companies Including DCP Midstream August 17-19, 2020
- EnerCom, Inc. is pleased to announce strong participation from the midstream sector as part of its 25th annual The Oil & Gas Conference. Event registration is open at www.theoilandgasconference.com.
- 08/06/2020
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Why Units of DCP Midstream Are Surging Today | The Motley Fool
- The MLP navigated the oil market downturn much better than expected.
- 08/06/2020
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DCP Midstream Reports Strong Second Quarter and First Half Results, and Reissues Original 2020 Financial Guidance
- Today, DCP Midstream, LP (NYSE: DCP) reported its financial results for the three and six months ended June 30, 2020.
HIGHLIGHTS
For the respective three and
- 08/05/2020
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DCP Midstream Reports Strong Second Quarter and First Half Results, and Reissues Original 2020 Financial Guidance
- DENVER, Aug. 05, 2020 (GLOBE NEWSWIRE) -- Today, DCP Midstream, LP (NYSE: DCP) reported its financial results for the three and six months ended June 30, 2020. HIGHLIGHTS * For the respective three and six months ended June 30, 2020, DCP generated net income (loss) attributable to partners of $47 million and $(503) million; net cash provided by operating activities of $209 million and $523 million; adjusted EBITDA of $311 million and $632 million; and distributable cash flow (DCF) of $220 million and $440 million. * Achieved one of the strongest first half DCF and Adjusted EBITDA performances in company history, with an 11% increase in DCF and a 5% increase in Adjusted EBITDA compared to the first half of 2019. * Lowered bank leverage and achieved target of 4.0 times for the twelve months ended June 30, 2020. * Generated $54 million of free cash flow (FCF) in the second quarter of 2020, after fully funding distributions and growth capital expenses, as a result of our integrated asset base, early mitigation efforts to reduce costs and capital, and DCP 2.0 transformation outcomes. * Second quarter 2020 Logistics and Marketing Adjusted EBITDA increased approximately 18% from second quarter 2019, driven by increased margin from Gulf Coast Express, NGL marketing, and Sand Hills, partially offset by lower Guadalupe earnings. Logistics and Marketing accounted for ~65% of Q2 Adjusted EBITDA. * Increased wellhead volumes in the DJ and Permian basins by 15% and 5%, respectively, from the second quarter of 2019. Gathering & Processing volumes exceeded expectations, partially due to our proactive, short-term renegotiation of contracts to keep volumes on the DCP system. * Delivered best quarterly and first half cost performance since company was combined with DCP Midstream, LLC, resulting in an over $50 million year-over-year reduction in the second quarter, driven by savings in contract services, consumables, labor, and utilities. * Reissuing original 2020 Adjusted EBITDA and DCF guidance, as given in February 2020, driven by strong 1H results and confidence in our ability to continue to generate significant FCF throughout the remainder of 2020. * Replacing distribution coverage ratio metric with free cash flow, highlighting a more comprehensive measure of cash flow and indicative of our ability to delever. * Issued $500 million senior notes at 5.625% due 2027, securing $1.1 billion of available liquidity. * DJ Basin regulatory stability substantially increased by a broad coalition, led by Governor Polis, committed to proactively preventing anti-oil and gas ballot initiatives and significant legislation through 2022 election cycle. * Placed the fully-subscribed 600 MMcf/d Cheyenne Connector into service, providing residue gas takeaway from the DJ Basin to the Rockies Express Pipeline. * Moved in-service date of Latham 2 offload to Q4, without adverse impacts to minimum volume commitments or customer service.SECOND QUARTER 2020 SUMMARY FINANCIAL RESULTS Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 (Unaudited) (Millions, except per unit amounts) Net income (loss) attributable to partners$47 $119 $(503) $194 Net income (loss) per limited partner unit - basic$0.15 $0.43 $(2.55) $0.57 Net income (loss) per limited partner unit - diluted$0.15 $0.43 $(2.55) $0.57 Net cash provided by operating activities$209 $229 $523 $546 Adjusted EBITDA(1)$311 $278 $632 $604 Distributable cash flow(1)$220 $173 $440 $397 Free cash flow(1)$54 $(230) $22 $(454) (1) This press release includes the following financial measures not presented in accordance with U.S. generally accepted accounting principles, or GAAP: adjusted EBITDA, distributable cash flow, free cash flow, and adjusted segment EBITDA. Each such non-GAAP financial measure is defined below under “Non-GAAP Financial Information”, and each is reconciled to its most directly comparable GAAP financial measure under “Reconciliation of Non-GAAP Financial Measures” in schedules at the end of this press release.CEO'S PERSPECTIVE“I want to thank our dedicated team for delivering some of our best ever safety, reliability, and financial results in what has been an exceptionally challenging environment," said Wouter van Kempen, chairman, president, and CEO. “Our supply long, capacity short strategy, as well as our early and aggressive actions to optimize our cost structure and proactively manage volumes has positioned the company well for significant free cash flow generation in 2020 and beyond. These strong second quarter and first half results demonstrate the earnings power of our asset base, our integrated value chain, our industry leading DCP 2.0 transformation, and our remarkable team."CAPITAL PROJECT UPDATE Logistics and Marketing Projects * The Cheyenne Connector was placed into service in the second quarter of 2020, adding 600 MMcf/d of residue gas takeaway and eliminating logistics constraints in the DJ Basin. * Front Range’s expansion to a capacity of 260 MBbls/d and Texas Express’ expansion to a capacity of 370 MBbls/d were placed into service in the second quarter of 2020.Gathering and Processing Projects * DCP has moved the Latham 2 offload project to the fourth quarter of 2020. The delay will not hinder DCP's ability to meet minimum volume commitments effective January 1, 2021. The Latham 2 offload will add up to 225 MMcf/d of incremental DJ Basin processing capacity.COMMON UNIT DISTRIBUTIONSOn July 21, 2020, DCP announced a quarterly common unit distribution of $0.39 per limited partner unit. This distribution remains unchanged from the previous quarter.DCP generated distributable cash flow of $220 million and $440 million for the three and six months ended June 30, 2020, respectively. Distributions declared were $82 million and $163 million for the three and six months ended June 30, 2020, respectively.SECOND QUARTER 2020 OPERATING RESULTS BY BUSINESS SEGMENTLogistics and MarketingLogistics and Marketing Segment net income attributable to partners for the three months ended June 30, 2020 and 2019 was $177 million and $185 million, respectively.Adjusted segment EBITDA increased to $213 million for the three months ended June 30, 2020, from $181 million for the three months ended June 30, 2019, reflecting higher equity earnings and distributions driven by Gulf Coast Express volumes, favorable NGL marketing margins, and higher cash distributions on Sand Hills, partially offset by lower earnings from Guadalupe.Gathering and Processing Gathering and Processing Segment net income attributable to partners for the three months ended June 30, 2020 and 2019 was $11 million and $90 million, respectively.Adjusted segment EBITDA decreased to $158 million for the three months ended June 30, 2020, from $173 million for the three months ended June 30, 2019, reflecting sustained lower commodity prices, lower volumes in the South and Midcontinent regions due to recent producer shut-ins, partially offset by increased volumes in the North and Permian regions, and lower operating costs.CAPITALIZATION, LIQUIDITY, AND FINANCINGCredit Facilities and DebtDCP has two credit facilities with up to $1.75 billion of total capacity. Proceeds from these facilities can be used for working capital requirements and other general partnership purposes including growth and acquisitions. * DCP has a $1.4 billion senior unsecured revolving credit agreement, or the Credit Agreement, that matures on December 9, 2024. As of June 30, 2020, total available capacity under the Credit Agreement was $1,105 million net of $281 million of outstanding borrowings and $14 million of letters of credit. * DCP has an accounts receivable securitization facility that provides up to $350 million of borrowing capacity that matures August 12, 2022. As of June 30, 2020, DCP had $350 million of outstanding borrowings under the accounts receivable securitization facility.On June 24, 2020, we issued $500 million of 5.625% Senior Notes due July 2027. We received proceeds of $494 million, net of underwriters' fees and related expenses, which we used for general partnership purposes, including the repayment of indebtedness under our Credit Agreement and the funding of capital expenditures.As of June 30, 2020, DCP had $5,906 million of total consolidated principal debt outstanding, with the next maturity not until September 2021. The total debt outstanding includes $550 million of junior subordinated notes which are excluded from debt pursuant to DCP's Credit Agreement leverage ratio calculation. For the twelve months ended June 30, 2020, DCP's leverage ratio was 4.0 times. The effective interest rate on DCP's overall debt position, as of June 30, 2020, was 5.10%.CAPITAL EXPENDITURES AND INVESTMENTSDuring the three and six months ended June 30, 2020, DCP had expansion capital expenditures and equity investments totaling $84 million and $173 million, and sustaining capital expenditures totaling $6 million and $16 million, respectively.EARNINGS CALLDCP will host a conference call webcast tomorrow, August 6, 2020, at 10:00 a.m. ET, to discuss its second quarter earnings. The live audio webcast of the conference call and presentation slides can be accessed through the Investors section on the DCP website at www.dcpmidstream.com and the conference call can be accessed by dialing (844) 233-0113 in the United States or (574) 990-1008 outside the United States. The conference confirmation number is 8398286. An audio webcast replay, presentation slides and transcript will also be available by accessing the Investors section on the DCP website.
- 08/05/2020
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MDIV: Buy At Your Own Risk (NASDAQ:MDIV)
- First Trust Multi-Asset Diversified Income Index ETF is a well-managed fund with the corresponding good market conditions to thrive.
- 08/05/2020
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DCP Midstream (NYSE:DCP) Rating Lowered to Sell at ValuEngine
- DCP Midstream (NYSE:DCP) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Monday, ValuEngine reports. DCP has been the topic of a number of other research reports. US Capital Advisors lowered shares of DCP Midstream from an “overweight” rating to a “hold” rating in […]
- 08/05/2020
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DCP Midstream to Participate in Citi Midstream / Energy Infrastructure Conference
- DENVER, Aug. 04, 2020 (GLOBE NEWSWIRE) -- DCP Midstream, LP (NYSE: DCP) announced that Wouter van Kempen, chairman, president, and chief executive officer and Sean O’Brien, group vice president and chief financial officer will conduct a series of one-on-one and small group meetings with investment community representatives at the Citi Midstream / Energy Infrastructure Conference on August 12 and 13, 2020 via telephone conference. The materials used at this conference will be posted on the Investors section of DCP Midstream’s website at www.dcpmidstream.com on August 11, 2020. ABOUT DCP MIDSTREAM, LP DCP Midstream, LP (NYSE: DCP) is a Fortune 500 midstream master limited partnership headquartered in Denver, Colorado, with a diversified portfolio of gathering, processing, logistics and marketing assets. DCP is one of the largest natural gas liquids producers and marketers and one of the largest natural gas processors in the U.S. The owner of DCP’s general partner is a joint venture between Enbridge and Phillips 66. For more information, visit the DCP Midstream, LP website at www.dcpmidstream.com.DCP Investor and Media Relations Sarah Sandberg (303) 605-1626
- 08/04/2020
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Mumbai Police on Sushant Singh Rajput's father's claims of alerting cops in February: No such written complaint was addressed to Bandra Police Station on the date - Times of India
- In an exclusive interview with Times Now, Sushant Singh Rajput's father KK Singh claimed that the family of the late actor alerted the Bandra Police o
- 08/03/2020
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Delhi: 37 policemen suspended for not reporting to Eid duty
- The police personnel were called to the DCP office for an important meeting where the DCP was going to give directions about Eid arrangements. These arrangements are done in every district in Delhi so that people don’t face issues while celebrating the festival.
- 08/01/2020
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Things to Note Ahead of DCP Midstream's (DCP) Q2 Earnings
- DCP Midstream (DCP) beat the Zacks Consensus Estimate in three of the last four quarters and missed in the other, delivering an earnings surprise of 17.20%, on average.
- 07/31/2020
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Antero Midstream Has Outperformed All Other Midstream Firms Year-To-Date
- On February 20th, 2020, I published an article on Antero Midstream. Since then, shares are higher by 26.9% on a total return basis, with the S&P 500 lower by -4.3% over this time frame.
- 07/29/2020
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Phillips 66: Midstream Might Save Q2 Results From The Worst Effects Of The Pandemic
- For the last several years, Phillips 66 has heavily invested in Midstream and Chemicals to diversify away from its highly cyclical refining business.
- 07/28/2020
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Delhi: Three former bouncers ram vehicles in bid to escape after robbing car
- New Delhi: Three former bouncers of Lady Hardinge Medical College, who allegedly took to crime after losing their jobs a few months ago, went on to ram multiple vehicles on a...
- 07/22/2020
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IBD Rating Upgrades: DCP Midstream Shows Improved Relative Price Strength | Investor's Business Daily
- DCP Midstream shows improving price performance, earning an upgrade to its IBD Relative Strength Rating
- 07/22/2020
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IBD Rating Upgrades: DCP Midstream Shows Improved Relative Price Strength
- DCP Midstream shows improving price performance, earning an upgrade to its IBD Relative Strength Rating
- 07/21/2020
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DCP Midstream Announces Common and Preferred Unit Distributions
- DENVER, July 21, 2020 -- DCP Midstream, LP (NYSE: DCP) announced today that the board of directors of its general partner declared a second quarter 2020 common unit.
- 07/21/2020
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DCP Midstream: The 12% Yield Remains Risky Even After Already Being Halved
- Even though DCP Midstream halved its distributions earlier in 2020, it still offers unitholders a very high yield of around 12%.
- 07/21/2020
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Positive Pipeline Performance Pre-Earnings
- Midstream bounced back this week, riding a strong market, stable oil prices, and the ramp into distribution season.
- 07/20/2020
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Jailed for mother-in-law’s murder, prisoner hangs himself in Tihar
- New Delhi: A 38-year-old prisoner, who was arrested and jailed on Thursday for killing his 62-year-old mother-in-law and injuring her three relatives with an ice pick in southwest...
- 07/19/2020
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Joint CSO statement on directive by IGP disbanding satelite offices, bases
- The undersigned leaders of notable civil society organisations and coalitions across Nigeria have noted the recent directive by the IGP
- 07/18/2020
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DCP Midstream to Host Conference Call on August 6 to Discuss Second Quarter 2020 Financial Results
- DENVER, July 17, 2020 -- DCP Midstream, LP (NYSE: DCP) will host a conference call to discuss its second quarter 2020 earnings at 10:00 a.m. ET on Thursday, August 6, 2020,.
- 07/17/2020
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Two men gunned down in south Delhi, two of four killers held
- Two men with criminal records were shot dead on Wednesday night allegedly by four persons known to them near Saket in south Delhi, police said.
- 07/16/2020
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Complaints & Report Contradict Police’s Clean Chit to Kapil Mishra
- Despite complaints from riot survivors about Kapil Mishra, Delhi Police claims there’s no evidence against him
- 07/16/2020
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Decision looms for controversial new library for New Canaan
- The town is looking to contribute $10 million to the project to build a new home for the library at Maple Street and South Avenue.
- 07/16/2020
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WFRBS Commercial Mortgage Trust 2012-C10 -- Moody's affirms seven and downgrades five classes of WFRBS 2012-C10
- Rating Action: Moody's affirms seven and downgrades five classes of WFRBS 2012- C10. Global Credit Research- 15 Jul 2020. Approximately $986 million of structured securities affected.
- 07/15/2020
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Man arrested for firing in air, injuring friend in southeast Delhi | Headlines
- A man was arrested after he allegedly fired in the air and the bullet ricocheted from a wall, injuring his friend with whom he was consuming alcohol at his office in southeast Delhi Humayun Pur village, police said on Monday.
- 07/13/2020
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Barclays Announces Changes to the Quarterly Composition of the CIBC Atlas Select MLP Index
- Barclays Bank PLC (“Barclays” or the “Issuer”) announced today that during the next quarterly index rebalancing period, which will commence following
- 07/07/2020
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Chesapeake Energy And Energy Transfer Skirmish: Contract Rejection (OTCMKTS:CHKAQ)
- Chesapeake Energy filed for bankruptcy, opening the opportunity to reject midstream contracts. While Energy Transfer and others have asked FERC to intervene, it is unlikely in my opinion that the FERC ruling holds any weight.
- 07/06/2020
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Surat Cops to Briefly Suspend Fine for Traffic Offences
- People found following traffic rules will be appreciated by the police, while offenders will be explained about the importance of adhering to road safety norms, the DCP said.
- 07/06/2020
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DCP Midstream and Kairos Aerospace Launch Methane Management Initiative Driven by Emerging Technologies
- Today, DCP Midstream, LP (NYSE: DCP) and Kairos Aerospace, Inc. announced a groundbreaking new methane management initiative across DCP’s portfolio of natural gas assets. The initiative will use Kairos’ sophisticated airborne methane monitoring techniques and advanced data analytics to digitally enable DCP’s goals of operational excellence and sustainability.
- 07/06/2020
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DCP Midstream and Kairos Aerospace Launch Methane Management Initiative Driven by Emerging Technologies
- Today, DCP Midstream, LP (NYSE: DCP) and Kairos Aerospace, Inc. announced a groundbreaking new methane management initiative across DCP’s portfolio of
- 07/06/2020
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Market Party, MLPs Stay Home
- Stocks of all kinds were positive in this pre-holiday week, except for MLPs. Midstream overall lagged the broad market, despite oil and natural gas price gains.
- 07/04/2020
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Cop succumbs to Covid three months before retirement; city police toll 40
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Woman, her two daughters found dead near railway tracks, cops suspect suicide
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Delhi court asks Police to register FIR against Constable accused of throwing man from roof
- A Delhi Court has ordered the police to register an FIR against a constable and his aides, who are accused of throwing a man from the roof of a building, and directed to take strict action against the erring officials who tried to sabotage investigation in the matter.
- 07/02/2020
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Court Directs FIR Against Delhi Police Constable, Others for Throwing Man From Roof
- The incident took place on June 14 in Burari area of north Delhi and the victim, Rajesh, a TSR driver, continues to be in critical stage in a trauma centre in a hospital near ISBT.
- 07/02/2020
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Wadume: Court denies Defendants bail, orders their transfer to prison
- A welder, Hafizu Bala, on Wednesday, narrated before the Federal High Court in Abuja, how soldiers, engaged him to break off handcuffs
- 07/01/2020
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How I helped soldiers to cut off Wadume's handcuffs, welder tells court
- Wadume is answering to a 13-count amended criminal charge the Federal Government preferred against him and six of his alleged accomplices
- 07/01/2020
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Man held for duping people on pretext of providing bank loans
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Two killed, 2 children injured after speeding car runs over four in Rohini
- New Delhi: Two persons were killed and two children were injured after the driver of an allegedly speeding car lost control of the vehicle and hit them in Rohini Sector 16 on...
- 06/30/2020
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Decomposed body of woman found at her house in south Delhi's Malviya Nagar
- Highly decomposed body of an 80-year-old woman was found at her house in south Delhi's Malviya Nagar area, police said on Tuesday.
The victim's son Rajesh Gulati (55) along with his family resides on the top floor of the building.
Rajrani used to live alone on the second floor, police said.
- 06/30/2020
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Tihar jail prisoner stabbed inmate to death to avenge rape of his sister: Police
- A prisoner of Tihar jail stabbed another inmate to death allegedly to avenge the rape of his sister six years ago, police said on Tuesday.
"During investigation, it was found that Mehtab was accused in the rape case of Zakir's minor sister in 2014 at the Ambedkar Nagar police station area.
- 06/30/2020
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DCP Midstream: Dividend Reduction To Pay Debt
- Debt reduction is the priority. Covenant violation is not an issue. The recovery of the distribution from the 50% reduction is an excellent probability. The def
- 06/30/2020
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UP Congress minority cell chief arrested for involvement in anti-CAA protest
- DCP central Dinesh Singh confirmed that Shahanwaz was arrested for involvement in the anti-CAA protest which took place on December 19, 2019 in Lucknow.
- 06/29/2020
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#FACTCHECK: The Sushant Singh Rajput case - Times of India
- Here's looking at everything that has happened so far
- 06/29/2020
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Forget Marathon Petroleum: Phillips 66 Is a Better Dividend Stock | The Motley Fool
- These two refining giants offer sizable yields to income-seeking investors.
- 06/29/2020
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Manmohan Singh's Ex-advisor Sanjaya Baru Duped of Rs 24,000 after Ordering Liquor Online
- The accused, a resident Kaman town in Bharatpur district of Rajasthan, was nabbed from his native place after a raid on Saturday, police said.
- 06/28/2020
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Sanjaya Baru falls victim to cyber fraud, duped of Rs 24,000 after ordering liquor online
- To mislead investigators, the accused had procured SIM cards and opened bank accounts in various like Assam, Maharashtra, Punjab and Rajathan, the DCP said. The analysis of technical evidence revealed that the cheated amount was transferred to a PNB account in the name of Akib, he said.
- 06/28/2020
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Man skips airport screening process, tracked down to daughter’s house
- The incident was reported on Saturday after the flight from Almaty in Kazakhstan had landed, and health care personnel at Delhi’s Indira Gandhi International (IGI) Airport called out the man’s name for a mandatory screening.
- 06/28/2020
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Delhi Police Reaches out to Personnel to Address Stress amid Covid-19 Pandemic
- There is a 30-year-old constable who now sanitises his hands at a gap of every two or three minutes and remains isolated from family members even at home. He also has sleep disorders now that developed around March 15, when the pandemic threat had started to peak, they said.
- 06/28/2020
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Delhi Police reaches out to personnel to address stress
- Amid the Covid-19 pandemic, Delhi Police has initiated a campaign to reach out to its personnel who are distressed due to personal or health issues and provide them with expert professional help, Deputy Commissioner of Police (DCP) Sanjay Bhatia said.
- 06/28/2020
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COVID-19: Delhi Police reaches out to personnel to address stress
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Sushant Singh Rajput’s family to be summoned by the police for second round of statements? - Times of India
- While so far statements of about 27 people have been recorded in Sushant Singh's suicide case, a recent report in a news portal stated that the actor’
- 06/28/2020
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57-year-old police officer dies of coronavirus COVID-19 in Bengaluru
- Amid the rising coronavirus COVID-19 cases in Karnataka, an ASI of Whitefield police station in Bengaluru died on Friday (June 26) night due to the deadly virus. The police officers was found collapsed in the bathroom and declared brought dead to the hospital.
- 06/28/2020
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Police Investigating 'Every Angle' of Sushant Singh Rajput's Death, Records 27 Statements
- Deputy Commissioner of Police, Abhishek Trimukhe, has released a statement saying that the Bandra station has recorded statements of 27 people in Sushant Singh Rajput's death case.
- 06/28/2020
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Delhi cop shoots colleague inside police station in fight over their beats
- A Delhi police constable has been arrested in a case of attempt to murder for allegedly firing at his colleague with his service revolver at the Seemapuri police station in Shahdara, officials said on Saturday.
- 06/27/2020
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Three Khalistani sympathisers planning targeted killings arrested by Delhi Police
- Were working on directions of ISI-sponsored handlers living abroad; three pistols, 7 cartridges and 3 smartphones recovered
- 06/27/2020
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Suicides jump by 11% during Covid-19 lockdown in Ludhiana
- 76 people died by suicide following the lockdown, with depression and domestic violence as the leading causes, say police.
- 06/27/2020
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Sushant Singh Rajput case: Mumbai Police records statements of 27 people; says, 'we are investigating the reason behind his suicide from every angle' - Times of India
- Sushant Singh Rajput's demise has been taking different turns as the police investigation goes on in the controversial case of the star's demise. And
- 06/27/2020
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Sushant Singh death probe: Cops quiz YRF's casting director
- "Shanoo Sharma, a casting director with the Yash Raj Films, was questioned at Bandra police station," said Abhishek Trimukhe, Deputy Commissioner of Police (Zone 9). Representatives of some more production houses are likely to be called by the police for questioning in the next few days, another official said.
- 06/27/2020
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Karnataka shuffles 13 IPS officers
- The Karnataka government has shuffled 13 senior Indian Police Service (IPS) officers in a major rejig effected late on Friday, an official said.
- 06/27/2020
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Corrie's storyline on mitochondrial disease will help shine light on condition
- IF you have watched Coronation Street this week you will have seen the heartbreak of Leanne Battersby and Steve McDonald as they come to terms with their son, Oliver’s diagnosis with the rare genet…
- 06/27/2020
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Mumbai: Crime rate went down during lockdown period, say police
- Statistics show that the crime rate in Mumbai in the past three months of April, May and June is lower than the rate during the same period last year. Mumbai Police attributes this decrease to the lockdown during which movement was restricted and there was heavy police presence in the city.
- 06/26/2020
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SARS executed 82 people in 3 years ― Amnesty International
- The rights group, Amnesty International has criticized the Nigerian Police for allegedly neglecting the prosecution of members of the SARS
- 06/26/2020
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Tallgrass Energy Announces Cheyenne Connector Pipeline In-Service; D-J Basin Supply Gains First Firm Access to Rockies Express Pipeline Through REX Cheyenne Hub Enhancement Project | | IT Business Net
- LEAWOOD, Kan.--(BUSINESS WIRE)--Tallgrass Energy, LP today announced that both the Cheyenne Connector pipeline and the Rockies Express Pipeline (REX) Cheyenne Hub Enhancement Project will commence com
- 06/26/2020
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Tallgrass Energy Announces Cheyenne Connector Pipeline In-Service; D-J Basin Supply Gains First Firm Access to Rockies Express Pipeline Through REX Cheyenne Hub Enhancement Project
- Tallgrass Energy Announces Cheyenne Connector In-Service; D-J Gains First Firm Access to Rockies Express Pipeline Via REX Cheyenne Hub Enhancement
- 06/26/2020
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Is the Scope of Practice keeping pace with dentistry? – Dentistry Online
- John Makin welcomes a review of the GDC's Scope of Practice and explains why this is so important for the profession in these times.
- 06/26/2020
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TikTok star Siya Kakkar dies by suicide: Phone seized, close friends to be questioned
- TikTok star Siya Kakkar death: The Delhi Police would also question her close friends as well as the authorities from her school
- 06/26/2020
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"El coronavirus ha provocado un aplanamiento en las estructuras directivas", según el director general de Metlife en España y Portugal
- Business Insider España ha celebrado su VII Smart Business Meeting, en este caso con destacados directivos del sector de las aseguradoras, para hablar de su futuro.
- 06/26/2020
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TikTok star Siya Kakkar dies by suicide: Mobile phone seized, police to question close friends
- TikTok star Siya Kakkar died by suicide at her residence in New Delhi on June 25. Her mobile phone has been seized by the police.
- 06/26/2020
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Tallgrass Energy Announces Cheyenne Connector Pipeline In-Service; D-J Basin Supply Gains First Firm Access to Rockies Express Pipeline Through REX Cheyenne Hub Enhancement Project
- Tallgrass Energy Announces Cheyenne Connector In-Service; D-J Gains First Firm Access to Rockies Express Pipeline Via REX Cheyenne Hub Enhancement
- 06/26/2020
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MLP SE : Détachement de dividende final | Zone bourse
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Covid-19: Punjab records 8 more deaths, toll 121; Ludhiana DCP positive
- Three COVID-19 deaths were reported from Amritsar (two men aged 88 and 34 and a 58-year-old woman), two from Sangrur (men aged 63 and 55) and one each from Moga (70-year-old man), Tarn Taran (50-year-old man) and Ludhiana (36-year-old man).
- 06/25/2020
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Four vehicle thieves arrested in Jewar, 21 stolen bikes recovered
- The Jewar Police on Thursday arrested four suspected vehicle thieves on Thursday and recovered as many as 21 stolen motorcycles.
- 06/25/2020
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36-year-old man dies; DCP, 24 others test Covid-19 positive in Ludhiana
- The number of patients in the district has reached 667, out which 446 have recovered, while 19 residents of the district have died; there are 202 active cases
- 06/25/2020
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Dehradun man running fake call centre, female associate held: Police
- During interrogation, Kumar disclosed that he started working as a tele-caller at a call centre, where he learned about various mobile applications and websites that can be used to send spoofed e-mails, he added. He soon started running his own fake call centre, from where he and his associates, most of them females, used to target unsuspecting job-seekers, mostly from far off areas such as the northeast and southern parts of India, the DCP said..
- 06/25/2020
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Seven deaths, 136 fresh cases in Punjab
- Punjab has reported 4,769 positive cases so far
- 06/25/2020
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The Zacks Analyst Blog Highlights: Microvision, Veritone, Remark, Novavax and DCP
- The Zacks Analyst Blog Highlights: Microvision, Veritone, Remark, Novavax and DCP
- 06/25/2020
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Delta State DCP Mamman Rijau Is Dead - IGP Adamu Confirms | Naija News
- The IGP in a condolence visit to the deceased family in Minna, the capital city of Niger State on Thursday, June 25 expressed his shock over the death of the officer who he described as dedicated and patriotic to the force.
- 06/25/2020
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Channel Checking The Energy Midstream - Finding Innovative Data That Can Lift The Veil On A Challenging Market Sector
- Investors have long struggled to accurately value midstream companies. The historical performance of the Alerian MLP index suggests a disconnect between how mar
- 06/25/2020
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Man held with 2.5 kg cannabis in Delhi
- Read more about Man held with 2.5 kg cannabis in Delhi on Devdiscourse
- 06/25/2020
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Dangote Cement Plc: Resilient Q1 2020 results amid early impacts of COVID-19 -
- Dangote Cement has added another superlative to its title, as it emerged as the most profitable manufacturer in Nigeria, thanks to cost control, and....
- 06/25/2020
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Brokers Issue Forecasts for DCP Midstream LP’s Q2 2020 Earnings (NYSE:DCP)
- DCP Midstream LP (NYSE:DCP) – Investment analysts at Jefferies Financial Group issued their Q2 2020 EPS estimates for DCP Midstream in a research note issued on Tuesday, June 23rd. Jefferies Financial Group analyst C. Sighinolfi expects that the pipeline company will post earnings of $0.05 per share for the quarter. Jefferies Financial Group currently has […]
- 06/25/2020
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Haryana cops open fire in Jalandhar, arrest 2 without informing local police
- A local police team that rushed to the spot found that a team led by Vijay Kumar, Kaithal CIA wing in-charge, conducted a raid to nab a proclaimed offender and his associate
- 06/24/2020
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Mike DeWine goes deep during coronavirus briefing: Capitol Letter
- Now that any Ohioan can get a coronavirus test, Gov. Mike DeWine, First Lady Fran DeWine, and Lt. Gov. Jon Husted were each given a nose swab test live during Tuesday’s briefing.
- 06/24/2020
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Wall Street Readies for Best Quarter Ever: 5 Picks
- The S&P; 500 is up 21.2% so far in Q2 and is on pace for its biggest quarterly gain since Q1 of 1975. Similarly, the Nasdaq is up 31.6% since the end of Q1, putting it on pace for its second-best quarter ever.
- 06/24/2020
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Every house in Delhi to be screened by July 6 as AAP govt revises COVID response plan
- The move comes as Delhi on Tuesday overtook Tamil Nadu on Sunday as the second worst-hit state by the pandemic after Maharashtra.
- 06/24/2020
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Delhi to screen every house by July 6 as it revises coronavirus response plan
- With Delhi seeing more new cases of coronavirus than Maharashtra in a day, the Delhi government has come out with a revised Covid response plan. As part of the new plan, every house in Delhi will be screened by July 6.
- 06/24/2020
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Clansman Gang burial site found after 18-month probe
- AN 18-MONTH investigation by law enforcers led to the exhumation of skeletal remains in an open field at Waterloo Lane, Spanish Town, St Catherine, on Tuesday. By noon, excavators had unearthed bones suspected to be from at least two bodies,...
- 06/24/2020
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GTB Hospital guard beaten up for ‘spreading coronavirus’
- A security guard of GTB Hospital was injured after being assaulted with a brick by a neighbour who accused him of spreading the coronavirus disease (Covid-19) in north-east...
- 06/23/2020
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Man wanted in over 25 cases held in Delhi's Shahdara
- He is wanted in a case of Maharashtra Control of Organised Crime Act (MCOCA) registered at Khajuri Khas police station, police said. A police team was on patrolling duty late Monday night when Assistant Sub-Inspector Sukhbir received secret information that Rashid will go to Loni, Ghaziabad via Pusta road, near Geeta Colony flyover, they said.
- 06/23/2020
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Pregnant Jamia student Safoora Zargar gets bail in Delhi riots case, asked not to leave city
- Jamia University student activist Safoora Zargar has been granted bail by the Delhi High Court. She was arrested in connection with the Delhi violence case and booked under the anti-terror law UAPA.
- 06/23/2020
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Fact Check: Sushant Singh Rajput's dog Fudge is not dead
- After the saddening death of Sushant Singh Rajput, various rumors started circulating saying that his pet dog Fudge passed away after grieving. However, actor's close sources have informed that not just the black Labrador but all four of Sushant’s dogs are fine and are currently staying at his residence in Pavna.
- 06/23/2020
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Delhi violence: Police oppose Safoora Zargar's plea in HC, say pregnancy no ground for bail
- The Delhi Police opposed in the high court the bail plea of Jamia student Safoora Zargar, arrested in a case related to communal violence in northeast Delhi during protests against the Citizenship Amendment Act, saying the severity of offence is in no manner mitigated by the factum of her pregnancy.
- 06/22/2020
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Nagpur Mayor Sandip Joshi Seeks FIR Against Municipal Commissioner for 'Forgery'
- Nagpur Mayor Sandip Joshi said civic officials committed forgery by granting Rs 18 crore to two Smart City project contractors from fixed deposits of the government.
- 06/22/2020
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Man Kills Wife, Flies To Kolkata To Kill Her Mother Before Shooting Self
- A 42-year-old man who lived in Bengaluru with his wife and son flew into Kolkata today and shot dead his mother-in-law at her home before having killed his wife
- 06/22/2020
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Nagpur mayor seeks FIR against civic chief for 'forgery'
- "Municipal Commissioner Mundhe and others misused their posts to commit irregularities inSmart and Sustainable City Development Corporation Limited (SSCDCL). "Hence, Iand Leader of House in NMC, Sandip Jadhav, have lodged a police complaint seeking registration of a criminal offence against these two administrative officers (Mundhe and Thakur)," said Joshi.
- 06/22/2020
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Three civil defence volunteers hurt in attack by residents of containment zone
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Man kills wife in Bengaluru, flies to Kolkata, murders mother-in-law and commits suicide
- A suicide note was found where it was mentioned that he had killed his wife in Bengaluru before coming to Kolkata.
- 06/22/2020
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Fake Plasma Donor Arrested for Duping Delhi Assembly Speaker Ram Niwas Goel
- According to the complaint, Goel's nephew was in search of a plasma donor for his father-in-law who had tested positive for coronavirus. Subsequently, he posted a request for help on social media and got a call from Thakkar.
- 06/22/2020
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N-E violence: Police opposes Safoora Zargar’s plea in HC, says pregnancy no ground for bail
- Jamia Coordination Committee member Zargar, who was arrested by the Special Cell of Delhi Police on April 10, has challenged in the high court the June 4 order of the trial court denying her bail in the case.
- 06/22/2020
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Fake plasma donor arrested for duping Delhi Assembly Speaker
- A 22-year-old man was arrested for allegedly cheating Delhi Assembly Speaker Ram Niwas Goel on the pretext of donating plasma to coronavirus patients, police said on Monday.
- 06/22/2020
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Delhi Violence: Police Opposes Bail Plea Of Pregnant Student Safoora Zargar
- The Delhi Police Monday opposed in the Delhi High Court the bail plea of Jamia student Safoora Zargar, arrested under the anti-terror law --UAPA-- in a case related to communal violence in northeast Delhi during protests against the Citizenship Amendment Act, saying the severity of offence is in no manner mitigated by her pregnancy.
- 06/22/2020
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N-E violence: Police opposes Safoora Zargar's plea in HC, says pregnancy no ground for bail
- The police said she has been lodged in a separate cell and chances of her contracting coronavirus from any other person does not arise. Further, it maintained that there there is no exception carved out for pregnant inmate, who is accused of such heinous crime, to be released on bail merely because of pregnancy and said that 39 deliveries have taken place in Delhi prisons in the last 10 years.
- 06/22/2020
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Sushant Singh Rajput's prayer meet organized by actor's family in Patna
- Certain photos and videos doing rounds on the internet show a framed cheerful photograph of late Sushant Singh Rajput adorned with flowers. The same were taken from the prayer meeting that was held in the remembrance of the actor at his Rajiv Nagar residence in Patna.
- 06/22/2020
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Delhi: Retired MEA official attacked, wife stabbed to death by security guard
- Jitendra Kumar, who works as a guard at the building where the Chawlas lived, said this is for the first time that such an incident has taken place. Kumar said when he received information he rushed to the house and saw the woman lying injured on the floor.
- 06/22/2020
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Sachin Vaze reinstated: Three ‘encounter specialists’ back in force in recent years
- After struggling to get reinstated following his alleged role in the disappearance of Khwaja Yunus, who is alleged to have been killed in police custody in 2002, Sachin Vaze had submitted his resignation in 2008, which wasn’t accepted.
- 06/21/2020
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Retired MEA official attacked, his wife stabbed to death during robbery
- During investigation, it was learnt that Rajesh was a security guard for the building for a year and was hired by the couple as their guard on June 5 with the help of a domestic help, who was not found involved in the crime, police said After the identity of the accused persons was established, a police team was sent to the Indo-Nepal border to catch the culprits, the DCP said. Footage from CCTV cameras in surrounding areas was checked.
- 06/21/2020
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Extortion racket being run from Tihar jail busted, three held
- The Delhi Police on Sunday said they arrested three men who were allegedly running an extortion racket from Tihar Jail in Delhi. The police said the arrested men included the...
- 06/21/2020
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88-year-old woman stabbed to death in Safdarjung Enclave, 4 arrested
- An 88-year-old woman was stabbed to death at her house in south Delhi’s Safdarjung Enclave on Saturday evening during a robbery attempted by a security guard she had hired...
- 06/21/2020
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Ludhiana industrialists spending a lot to bring their labourers back to city
- As many as 15,108 labourers returned to the city by air, trains and buses, according to police
- 06/21/2020
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International Yoga Day: Celebrate the fervour virtually
- During the Covid-19 pandemic, most of the ministries, public departments, not for profit organisations and even individuals have decided to practise yoga virtually on this day.
- 06/21/2020
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Midstream Bounce Faded
- It was an up and down week for midstream, but overall positive vs. last week. The Supreme Court ruling in favor of pipeline development across the Appalachian T
- 06/21/2020
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Yash Raj Films submits copies of the late actor Sushant Singh Rajput's contract to cops - Times of India ►
- Singh Rajput for their upcoming projects to the Mumbai Police.
- 06/21/2020
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Farmer commits suicide in front of Tehsildar office in Telangana's Peddapalli
- A farmer allegedly committed suicide in front of Kalva Srirampur Tehsildar office in Peddapalli district by drinking an insecticide.
- 06/21/2020
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Salman Khan appeals fans to stand with Sushant Singh Rajput's family and loved ones
- The country is in shock after the demise of Sushant Singh Rajput who committed suicide at his Bandra residence on June 14. Now Bollywood superstar Salman Khan has appealed his fans to stand by his family and closed ones.
- 06/21/2020
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Police complaints via e-mail rose by 50% during lockdown in Ludhiana
- CORONA EFFECT: Police are receiving at least 15 complaints daily since March 23 via e-mail against 10 earlier
- 06/20/2020
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Another city constable succumbs to Covid-19; toll 32
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Yash Raj Films submits copies of Sushant Singh Rajput's contract to Mumbai Police
- So far, police have recorded statements of 15 persons, including Rhea Chakraborty and Mukesh Chhabra.
- 06/20/2020
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Sushant Singh Rajput, Rhea Chakraborty were staying together, were planning to marry soon: Broker
- Broker Sunny Singh said he called up the police to say that Sushant Singh Rajput wasn't living alone in his house.
- 06/20/2020
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Father's Day 2020: What It Means For COVID-19 Frontline Warriors This Year
- Father's Day 2020, a day meant to celebrate fathers, would be quite different for many children whose fathers have been working on the frontline to combat coronavirus amid the pandemic.
- 06/20/2020
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Yash Raj Films submits copies of Sushant Singh Rajput's contract to cops
- The Bandra Police had sent a letter to Yash Raj Films seeking details of the contract on June 18, a police official said.
- 06/20/2020
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Yash Raj Films submits copies of Sushant Singh Rajput's contract to Mumbai Police
- So far police have recorded statements of 15 persons, including family members of the actor, his staff, his close friend actor Rhea Chakraborty and of casting director Mukesh Chhabra.
- 06/20/2020
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Tamil Nadu health dept fears people who left state capital may trigger spike in other districts
- On Friday, Tamil Nadu reported 2,115 new cases, taking the case count in the state to 54,449. The state has reported 666 deaths so far, with 41 reported on Friday.
- 06/20/2020
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Assam CM Sarbananda Sonowal asks state police to arrest Garga Chatterjee
- The Chief Minister said that Chaolung Sukaphaa was the architect of the greater Assamese identity and making derogatory statements about such a great personality could not be tolerated. The CM said that the derogatory statements had hurt the sentiments of Assamese people and there was a need to take action against Chatterjee.
- 06/19/2020
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Assam CM Sarbananda Sonowal orders arrest of Garga Chatterjee for offensive remarks against Ahoms
- A Kolkata based political commentator Garga Chatterjee made offensive remarks against the Ahom community on Twitter on June 18 and 17. Assam Chief Minister has directed Guwahati Police to bring him from Kolkata to apprehend him immediately.
- 06/19/2020
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Ludhiana residents paid Rs 40 lakh fine for not wearing masks, spitting in open
- Officials say the fine amount was increased on May 29 to discourage violators but that too seems to have no effect
- 06/19/2020
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Rape in moving bus: Another suspect nabbed, NCW writes to DGP
- The Noida police on Thursday arrested the conductor of the bus in which a 25-year-old woman was allegedly raped on June 17.
- 06/19/2020
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Assam CM Orders Arrest of Political Commentator Garga Chatterjee for Offensive Remarks
- Sonowal asked the Guwahati police to go to West Bengal immediately to arrest Chatterjee for allegedly making objectionable remarks against Swargadeu Sukapha, the first Ahom king, and the entire Ahom community.
- 06/19/2020
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Delhi Police DCP tests positive for COVID-19
- His office is being sanitised and three members of his staff have been sent for home isolation, a senior police officer said. The DCP's test report came back positive for COVID-19 on Friday, the officer said.
- 06/19/2020
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Two brothers, their four children found dead in empty Ahmedabad flat
- The one-BHK (Bedroom-Hall-Kitchen) flat on the seventh floor of the high-rise belonged to Gaurang Patel and it was found to be locked from inside when the police arrived.
- 06/19/2020
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RWAs cry foul, say no response to issues, blame administration for rising Covid cases
- The administration which has enjoyed immense support from the citizens till now, seems to be lagging behind.
- 06/19/2020
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Mumbai Police questions Rhea Chakraborty, 2 others in Sushant Singh Rajput suicide case, seeks contract details from production house
- Mumbai Police, which is probing the suicide committed by filmstar Sushant Singh Rajput, has sought the details of the contract signed by the late actor from a leading production house. The name of the production house, which has been asked to submit a copy of the contract signed by Sushant Singh Rajput, has not been revealed.
- 06/18/2020
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Recovered cops help boost morale of infected colleagues in Pimpri-Chinchwad
- PUNE: The officials of Pimpri-Chinchwad police who have recovered from Covid-19 are becoming an inspiration for colleagues infected by Sars-Cov-2, the virus that causes...
- 06/18/2020
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2020 Large Cap Stocks List - Sure Dividend
- Large cap stocks have market capitalizations above $10 billion. See our top 10 large cap stocks today plus a downloadable list of over 400 large cap stocks.
- 06/18/2020
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Man held for snatching mobile phone in Delhi's Kotwali area
- His accomplice has been identified and raids are on to nab him, police said, adding one motorcycle and mobile phone were recovered from his possession.
- 06/18/2020
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Nawazuddin Siddiqui's wife Aaliya records call with his brother Shamas and warns, "Do not dare threaten me with false & fabricated cases" - Times of India ►
- Nawazuddin Siddiqui's wife Aaliya, who reverted to her old name of Anjana Anand Kishor Pandey, has reacted to a case filed by the actor’s brother Sham
- 06/18/2020
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Statements and revelations made by Shweta Tiwari’s estranged husband Abhinav Kohli on social media | The Times of India
- Shweta Tiwari's estranged husband Abhinav Kohli has been creating quite a storm with his posts on social media. The Qayamat Ki Raat actor made several revelations and statements in recent times on his Instagram account. Take a look:
- 06/18/2020
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Enbridge says 800 staff have taken voluntary buyouts offered to cut costs - Oil & Gas 360
- The Calgary-based pipeline company announced in May it would defer $1 billion in capital spending this year and reduce costs by $300 million through measures including salary cuts and voluntary staff reductions.
- 06/18/2020
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Enbridge says 800 staff have taken voluntary buyouts - BNN Bloomberg
- Spokesman Jesse Semko confirmed that 800 staff have taken up options including early retirement, severance, educational or personal leaves of absence or part-time work.
- 06/17/2020
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DCP Midstream, LP Announces Pricing of an Upsized $500 Million of 5.625% Senior Notes due 2027
- DCP Midstream, LP (NYSE: DCP) (the “Partnership”) announced today that its wholly owned subsidiary, DCP Midstream Operating, LP (the “Operating Partnership”), priced an upsized offering of $500 million aggregate principal amount of its 5.625% senior notes due 2027 at a price to the public of 100% of their face value (the “Senior Notes”). The Senior Notes will be fully and unconditionally guaranteed by the Partnership. The Operating Partnership intends to use the net proceeds from this offering for general partnership purposes, including the repayment of indebtedness under its revolving credit facility and the funding of capital expenditures.
- 06/17/2020
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Two arrested for snatching woman's purse
- Two men were arrested for allegedly robbing a woman dentist in central Delhi's Patel Nagar area, police said on Wednesday.
The accused have been identified as Shahil Khan (22) and Mohammed Gulab (22), both residents of Pandav Nagar, they said.
A police constable heard the woman scream and saw the suspects fleeing with the robbed purse.
- 06/17/2020
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UP: Woman raped on moving bus by driver
- According to information given to police by the woman, it appears the incident took place in the night when the bus would have been on a stretch between Lucknow and Mathura,” said DSP (Women Safety) Vrinda Shukla. “As the complaint was made after the woman reached here, an FIR was immediately lodged,” Shukla said.
- 06/17/2020
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Woman Travelling With Her Children Raped on Moving Bus in UP, One Held
- According to police, the incident apparently took place on the stretch between Lucknow and Mathura.
- 06/17/2020
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UP: Woman raped on moving bus, one held
- According to information given to police by the woman, it appears the incident took place in the night when the bus would have been on a stretch between Lucknow and Mathura,” said DSP (Women Safety) Vrinda Shukla.
- 06/17/2020
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Two thieves posing as migrants held for robbing man’s wallet, withdrawing at least ₹25k cash
- New Delhi: A 26-year-old man helped track down two thieves who allegedly stole his wallet and withdrew cash from ATMs in Delhi by posing as people who needed to return to Bihar but...
- 06/17/2020
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2 held for pick-pocketing
- A 22-year-old man was arrested while a juvenile was apprehended for allegedly stealing a man's wallet by distracting him by asking for food and water, police said on Wednesday.
- 06/17/2020
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Delhi Police Commissioner asks personnel to ensure strict lockdown in COVID-19 containment zones
- Delhi Police Commissioner S N Shrivastava has ordered the personnel of the force to ensure strict lockdown within the COVID-19 containment zones of the city, officials said on Wednesday.
In the wake of COVID-19 pandemic, the force is completely stretched out for multifarious duties, it said.
- 06/17/2020
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DCP Midstream, LP -- Moody's rates DCP Midstream's proposed notes Ba2
- Moody's Investors Service (Moody's) assigned a Ba2 rating to DCP Midstream Operating LP 's (DCP Midstream Operating) proposed $400 million senior notes offering. DCP Midstream, LP's (DCP) existing ratings, including the Ba2 Corporate Family Rating (CFR), Ba2-PD Probability of Default Rating, B1 ratings on preferred units and SGL-3 Speculative Grade Liquidity (SGL) rating are unchanged.
- 06/17/2020
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DCP Midstream Operating LP -- Moody's rates DCP Midstream's proposed notes Ba2
- DCP Midstream, LP's (DCP) existing ratings, including the Ba2 Corporate Family Rating (CFR), Ba2-PD Probability of Default Rating, B1 ratings on preferred units and SGL-3 Speculative Grade Liquidity (SGL) rating are unchanged. Additionally, DCP Midstream Operating's existing Ba2 ratings on the senior unsecured notes and the B1 rating on the junior subordinated notes are unchanged.
- 06/17/2020
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2 arrested for robbing people in south Delhi
- The owner of the scooty told police that one Abhishek had borrowed the two-wheeler saying his mother was ill and had to be taken to a nearby hospital, he said, adding two accused Aakash and Abhishek, both 24-years-old,were arrested and 12 robbed mobile phones seized. The two accused disclosed to police they used to borrow a vehicle of any of their acquaintances by telling them about medical emergency and used it for committing snatching or robbery, the DCP said.
- 06/17/2020
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Passenger raped in bus on way to Noida from Pratapgarh; one held
- A 25-year-old woman travelling with her children from Pratapgarh district to Noida in Uttar Pradesh was allegedly raped in the moving bus by one of its two drivers, leading to the arrest of the accused, police said on Wednesday.
- 06/17/2020
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Two arrested for killing Bhojpuri music composer
- Two men were arrested from Bihar for allegedly strangulating a 24-year-old Bhojpuri music composer to death with a cable in Dwarka over a financial dispute, police said on Wednesday.
The officer said after technical analysis, the last location of Chaudhary’s mobile phone was traced to Chapra. He said a police team was sent to Bihar and Kumar and Vicky were arrested.
- 06/17/2020
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DCP Midstream, LP Announces Public Offering of $400 Million of Senior Notes due 2027
- DCP Midstream, LP (NYSE: DCP) (the “Partnership”) announced today that its wholly owned subsidiary, DCP Midstream Operating, LP (the “Operating Partnership”), has commenced a public offering of $400 million aggregate principal amount of its senior notes due 2027 (the “Senior Notes”). The Senior Notes will be fully and unconditionally guaranteed by the Partnership.
- 06/17/2020
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Enbridge says 800 staff have taken voluntary buyouts offered to cut costs
- CALGARY - Enbridge Inc. says 800 employees have voluntarily left the company, allowing it to avoid layoffs as it cuts costs to counter impacts from CO...
- 06/17/2020
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Delhi ACP’s husband dies of Covid: ‘He didn’t step out of home… Can never forgive myself’
- Surender Jeet Kaur, ACP (Crimes Against Women) in the South-East district of the Delhi Police, is also ACP (Covid Cell) of the district.
- 06/16/2020
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Outside GTB Hospital, snatchers target man waiting to receive Covid-19 infected father’s body
- The man, 24-year-old Pankaj Kumar, a resident of west Delhi’s Madipur, was waiting for relatives to arrive and was making calls to friends when the snatcher struck around 6am.
- 06/16/2020
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Woman held for stealing purse of another woman standing in queue to get tested
- Eish Singhal, deputy commissioner of police (New Delhi district), identified the suspect as Sonam (single name), a resident of Gamri Village in Shahdara.
- 06/16/2020
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22-yr-old DU student found dead at home in Delhi's Lado Sarai area
- A 22-year-old Delhi University student was found dead at her home in south Delhi's Lado Sarai area, police said on Tuesday.
She was the youngest among the three children, Deputy Commissioner of Police (south) Atul Kumar Thakur said. Her body was found hanging from the ceiling fan in her room on Monday, the DCP said.
- 06/16/2020
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New Strong Buy Stocks for June 16th
- New Strong Buy Stocks for June 16th
- 06/16/2020
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EQM Midstream (EQM) Looks Good: Stock Adds 9.7% in Session
- EQM Midstream (EQM) saw a big move last session, as its shares jumped nearly 10% on the day, amid huge volumes.
- 06/16/2020
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Nawazuddin Siddiqui’s Wife Aaliya Dismisses Brother-in-law’s Allegations That She Committed Fraud
- Nawazuddin Siddiqui's estranged wife Aaliya has been accused of committing fraud by the actor's brother Shamas Nawab Siddiqui. However, she has denied all such allegations.
- 06/16/2020
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Families of disabled children left 'abandoned' during lockdown
- Charities say support has dried up
- 06/16/2020
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Frank Gehry’s Ocean Avenue Project forges ahead in LA
- The Frank Gehry-designed scheme features a hotel, apartments, retail space and much more. (Photo: Gehry Partners LLP)Fresh details have been revealed about a Santa Monica scheme designed by starchitect Frank Gehry, which includes plans for
- 06/16/2020
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Nigerian Man In Noida Kills Infant Daughter, Throws Body From Balcony: Police
- A Nigerian man, staying in Uttar Pradesh's Greater Noida, was arrested after he allegedly killed his infant daughter and threw her body from their second-floor apartment on Monday, police said.
- 06/15/2020
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'Mentally unstable' Nigerian kills own baby, throws body from 2nd-floor
- A Nigerian man staying in Greater Noida was arrested after he allegedly killed his infant daughter and threw her body from their second-floor apartment on Monday, police said.
The couple, Ozioma Declan and Julie, was staying with their three-month-old daughter in Imperia society, under Ecotech 3 Police Station limits, a senior officer said.
- 06/15/2020
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