Emerge Energy Services LP (NYSE:EMES) announced that the board of directors of its general partner has declared a cash distribution of $1.00 for the first quarter of 2015. This distribution represents a 29% decrease compared to the fourth quarter 2014 distribution of $1.41 per unit and a 12% decrease compared to the first quarter 2014 distribution of $1.13 per unit. The distribution will be paid on May 14, 2015 to all unitholders of record as of May 6, 2015.
“We are revising our full year distribution guidance to approximately $3.00 per unit for the year ending December 31, 2015,” said Ted W. Beneski, Chairman of the Board of the General Partner of Emerge Energy. “While we believe that we have a number of opportunities to improve our projected results, this revised guidance is based on current market conditions.”
Emerge Energy today also announced it will release its first quarter results on Monday, May 4, 2015. A conference call to discuss the first quarter 2015 financial and operating results will be held on Monday, May 4, 2015 at 10 a.m. CDT. Callers may listen to the live presentation, which will be followed by a question and answer segment, by dialing (855) 850-4275 or (720) 634-2898 and entering pass code 34355647. An audio webcast of the call will be available at www.emergelp.com within the Investor Relations portion of the website under the Webcasts & Presentations section. A replay will be available by audio webcast and teleconference from 1:00 p.m. CDT on May 4 through 10:59 p.m. CDT on May 11, 2015. The replay teleconference will be available by dialing (855) 859-2056 or (404) 537-3406 and the reservation number 34355647.
This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent of Emerge Energy’s distributions to foreign investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, Emerge Energy’s distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate. (Original Source)
Shares of Emerge Energy closed yesterday at $50.6 . EMES has a 1-year high of $145.72 and a 1-year low of $39.90. The stock’s 50-day moving average is $49.45 and its 200-day moving average is $60.04.
On the ratings front, Emerge Energyhas been the subject of a number of recent research reports. In a report issued on April 15, Robert W. Baird analyst Ethan Bellamy downgraded EMES to Hold. Separately, on April 9, Stifel Nicolaus’ Selman Akyol downgraded the stock to Hold .
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Ethan Bellamy and Selman Akyol have a total average return of 7.2% and 8.0% respectively. Bellamy has a success rate of 61.4% and is ranked #1061 out of 3579 analysts, while Akyol has a success rate of 59.2% and is ranked #640.
Emerge Energy Services LP is engaged in the ownership, operation, and acquisition and development of a energy service assets. Its business is segmented into two – Sand segment and Fuel segment.