MMP

Our Thoughts on Chevron Buying Noble Energy

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Image Shown: An overview of Chevron Corporation’s all-stock acquisition of Noble Energy Inc that was announced in July 2020. Image Source: Chevron Corporation – July 2020 Noble Energy Acquisition Presentation By Callum Turcan On July 20, Chevron Corporation (CVX) announced it was acquiring Noble Energy Inc (NBL) through a $5.0 billion all-stock transaction, or $13.0 billion when factoring in net debt and the book value of non-controlling interests. Shareholders of Noble Energy will receive approximately 0.12 share of Chevron for each share of Noble Energy. At the time the deal was announced, shareholders of NBL were receiving a ~12% premium based on the ten-day average closing stock prices. Chevron intends to issue ~58 million shares to cover the deal, keeping … Read more

Dividend Increases/Decreases for the Week Ending October 25

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Below we provide a list of firms that raised their dividends during the week ending October 25. The dividend reports of covered firms on this list will be updated shortly with the new information. To access our dividend reports use the ‘Symbol’ search box in our website header. Firms Raising Their Dividends This Week Agnico Eagle (AEM): now $0.175 per share quarterly dividend, was $0.125. AllianceBernstein (AB): now $0.63 per share quarterly dividend, was $0.56. American Electric Power (AEP): now $0.70 per share quarterly dividend, was $0.67. Armstrong World (AWI): now $0.20 per share quarterly dividend, was $0.175. The Bank of Princeton (BPRN): now $0.10 per share quarterly dividend, was $0.03. BJ’s Restaurants (BJRI): now $0.13 per share quarterly dividend, … Read more

Dividend Increases/Decreases for the Week of September 15

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Below we provide a list of firms that raised their dividends during the week ending September 15. The dividend reports of covered firms on this list will be updated shortly with the new information. To access our dividend reports use the ‘Symbol’ search box in our website header. Firms Raising Their Dividends This Week                          Absa Group Limited (AGRPY): now $0.5518 per share dividend, was $0.5416. AGNC Investment Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (AGNCN): now $0.6676 per share quarterly dividend, was $0.6482. Andlauer Healthcare Group (AND:CA): now CAD 0.09 per share quarterly dividend, was CAD 0.08. Brambles (BXBLY): now $0.26 per share dividend, was $0.22. China Resources Cement Holdings (CARCY): now $0.1364 per share dividend, was … Read more

Dividend Increases/Decreases for the Week Ending April 27

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Below we provide a list of firms that raised their dividends during the week ending April 27. The dividend reports of covered firms on this list will be updated shortly with the new information. To access our dividend reports use the ‘Symbol’ search box in our website header. Firms Raising Their Dividends This Week abaxis (ABAX): now $0.18 per share quarterly dividend, was $0.16. Alliance Holdings (AHGP): now $0.7475 per share quarterly dividend, was $0.7425. Alliance Resource Partners (ARLP): now $0.515 per share quarterly dividend, was $0.51. Ames National Corporation (ATLO): now $0.23 per share quarterly dividend, was $0.22. Amphenol (APH): now $0.23 per share quarterly dividend, was $0.19. Ameriprise Financial (AMP): now $0.90 per share quarterly dividend, was $0.83. … Read more

Dividend Increases/Decreases for the Week Ending October 26

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Firms Raising Their Dividends This Week Access National (ANCX): now $0.17 per share quarterly dividend, was $0.16. Alliance Resource Partners (ARLP): now $0.525 per share quarterly dividend, was $0.52. American Electric Power (AEP): now $0.67 per share quarterly dividend, was $0.62. Apollo Senior Floating Rate Fund (AFT): now $0.10 per share monthly dividend, was $0.10. Bank of Hawaii (BOH): now $0.62 per share quarterly dividend, was $0.60. Bank of Marin Bancorp (BMRC): now $0.35 per share quarterly dividend, was $0.32. Brookline Bancorp (BRKL): now $0.105 per share quarterly dividend, was $0.10. Cabot Oil & Gas (COG): now $0.07 per share quarterly dividend, was $0.06. Cheniere Energy Partners (CQP): now $0.58 per share quarterly dividend, was $0.56. Coca-Cola European (CCE): now … Read more

Newsletter Portfolio Idea Chevron Focused on Returning Cash to Shareholders

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Image Shown: Newsletter portfolio idea Chevron Corporation is very shareholder friendly. We view its capital allocation priorities quite favorably. Image Source: Chevron Corporation – May 2022 IR Presentation By Callum Turcan Our newsletter portfolios remain overweight energy names as these companies are well-positioned to ride out inflationary pressures and geopolitical turbulence while generating substantial free cash flows and returning “gobs” of cash to shareholders. We include Chevron Corporation (CVX) in our Best Ideas Newsletter, Dividend Growth Newsletter, and High Yield Dividend Newsletter portfolios as the firm has placed a great emphasis on keeping its capital expenditures contained, improving its cost structure, and cutting down on its debt load while returning “gobs” of cash to shareholders. Financial Overview At the end … Read more

Dividend Increases/Decreases for the Week Ending July 22

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Below we provide a list of firms that raised/lowered their dividends during the week ending July 22. The dividend reports of covered firms on this list will be updated shortly with the new information. To access our dividend reports use the ‘Symbol’ search box in our website header. Firms Raising Their Dividends This Week AltaGas (ATGFF): now C$0.175 per share monthly dividend, was C$0.165. Bar Harbor Bankshares (BHB): now $0.275 per share quarterly dividend, was $0.27. Blackstone (BX): now $0.36 per share quarterly dividend, was $0.28. Bryn Mawr Bank (BMTC): now $0.21 per share quarterly dividend, was $0.20. Citigroup (C): now $0.16 per share quarterly dividend, was $0.05. Cone Midstream Partners (CNNX): now $0.254 per share quarterly dividend, was $0.245. … Read more

Chevron’s Promising Cash Flow Growth Outlook

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Image Source: Chevron Corporation – May 2021 IR Presentation By Callum Turcan The outlook for the global energy complex is bright and getting brighter as public health authorities utilize widespread coronavirus (‘COVID-19’) vaccine distribution efforts to put an end to the pandemic. We added shares of Chevron Corporation (CVX) to the Best Ideas Newsletter and Dividend Growth Newsletter portfolios on June 27 (link here) in order to gain exposure to the ongoing recovery in the global energy complex via a high-quality integrated oil major. Shares of CVX yield ~5.1% as of this writing. Asset Overview Chevron’s collection of upstream assets (involved in the extraction of raw energy resources from the ground) includes operations all over the world with some notable … Read more

Nelson’s Quick Thoughts on Midstream Energy MLPs

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Image Source: Roy Luck Nelson’s Take We continue to be quite cautious on the midstream MLP business model (AMLP), including Energy Transfer Partners’ (ETP), given its extreme capital-market dependency (i.e. the continuous need for new equity and debt capital), and we maintain our view that the group is 1) inextricably tied to energy resource pricing, if not directly (5%-10%) than indirectly through the financial health of their upstream customer bases and 2) the credit markets via ongoing project-financing requirements and outsize debt loads. Many in the group continue to be capital-intensive, highly-leveraged entities that have little cash cushions on the books to handle exogenous shocks. Most, if not all, generate traditional free cash flow (CFO less all capex) shortfalls, after … Read more

Dividend Increases/Decreases for the Week Ending July 21

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Below we provide a list of firms that raised/lowered their dividends during the week ending July 21. The dividend reports of covered firms on this list will be updated shortly with the new information. To access our dividend reports use the ‘Symbol’ search box in our website header. Firms Raising Their Dividends This Week Ally Financial (ALLY): now $0.12 per share quarterly dividend, was $0.08. Bank of New York Mellon (BK): now $0.24 per share quarterly dividend, was $0.19. Bryn Mawr Bank (BMTC): now $0.22 per share quarterly dividend, was $0.21. Cambridge Bancorp (CATC): now $0.47 per share quarterly dividend, was $0.46. Citigroup (C): now $0.32 per share quarterly dividend, was $0.16. Chemical Financial (CHFC): now $0.28 per share quarterly … Read more