Navios Maritime Midstream Partners (NAP)

[spliffythecat]

Thanks...much appreciated

[h45ht4g]

Subject to shareholder approval. It's usually not a good thing. You would get 1 share for every 15 you own if you currently own shares.

"Navios Acquisition also announced that its Board of Directors has approved a 1-for-15 reverse stock split of its issued and outstanding shares of common stock. The reverse stock split is subject to stockholder approval, which Navios Acquisition intends to seek at a special meeting of its stockholders scheduled to be held in November 2018. The reverse stock split is expected to be effected before the closing of the Transaction."

[spliffythecat]

Reverse stock split announced. Is this good or bad?

[ClayTrader]

* * $NAP Video Chart 04-20-18 * *

Link to Video - click here to watch the technical chart video

[girlfriend]

Thank you....have nice day

[ClarkKant]

Clearly they were selling shares to help finance the recent purchase and I'm still holding some with an avg of low $4s and it just depends if they are done selling. Yesterday's action, at least for a day indicates they are done selling. Seeing how they purchased a new rig, at least it looks like they are not going out of business. :)

[girlfriend]

Do you think they will remain solvent? Might be a dumb question but just started looking here.

[ClarkKant]

From $9.30 down to $4.10 in less than 5 trading days. Wow.

[l_winthorpe]

Well ultimately time will tell. However, it seems like the company does have value, it just hasn't been able to secure favorable financing. It will be interesting to see how this plays out.

[benfrankledger]

Of course it’s a catch 22

[l_winthorpe]

That's very true. When you made the comment about Navios possibly refinancing its debt through an equity offering, I immediately thought about the cost of capital. However, what I neglected to think about is that one is robbing Peter to pay Paul in that scenario. It would be much better if they were to issue equity that would allow them to invest in their business and therefore increase revenue and hopefully earnings.

[benfrankledger]

Of course there’s something to be said about investing in businesses that need money to grow versus money to stay in business.

[l_winthorpe]

That's very true. However, that is the great thing about the markets; opportunity is everywhere.

[benfrankledger]

It would be expensive for sure. Time will tell.

[l_winthorpe]

That's true. However, given it's current dangerous debt levels and onerous interest payments, the cost of equity would be very expensive, don't you think? I suppose they could raise equity to pay off debt, but that seems like a rather expensive refinancing.

[benfrankledger]

That may be unless they can raise new equity. Have to be careful with the high debt companies.

[l_winthorpe]

I was looking through a slide deck that NAP issued at the end of October and to be honest, I am worried for this company. According to their deck, their debt matures in 2020 - 3 years away. This seems like a company that robs Peter to pay Paul. I don't see how they can refinance their debt in 2020 at a rate that makes sense.

This might just me going on a tangent, but interest rates are due for a substantial increase, imo. So if the company can't afford its interest payments at current rates, I have no idea how they will be able to afford higher, future interest costs. Unless they have some secret plant to dramatically increase cash flow from operations, I think this company is destined for bankruptcy court.

[benfrankledger]

This holds very try. Important to look at history to make sure there is a clear path forward that isn’t set up to fail.

[l_winthorpe]

There is a saying that those who don't learn from the past are doomed to repeat it. I would say that that holds true in corporate America

[benfrankledger]

I? haven’t gotten that in depth to say for sure but believe it’s a good business but just too much debt. These guys just don’t learn.

[l_winthorpe]

If the company were to shed it's debt, would you consider a long term play? Or are there other structural issues that cause concern?

[benfrankledger]

Bankruptcy if recapitalization. Debt is not your friend here. I’m either case likely only a short term trade if you can find the swings. Risk profile is high until this pans out.

[l_winthorpe]

Well if you were take out the debt service, the company is cash flow positive? Correct? Seems like an ideal candidate for Chapter 11. If it has profitable operations, but negative cash flow due to financing decisions, then it might be a nice bankruptcy play?

[benfrankledger]

Begs the question if cash flow isn’t covering debt. How do these companies end up in this predicament?

[l_winthorpe]

Sounds like a great candidate for bankruptcy? No?

[benfrankledger]

Dry Bulk Segment EBITDA was $11.8 million in comparison with Q2 EBITDA of $12 million. The decline in EBITDA was due to a 3 vessel decline in the fleet offset by a $318 per day TCE increase. Interest Expense for Q3 was $21.38 million, meaning that EBITDA failed to cover interest expense by more than $9 million.

[MisterEC]

• DHT Holdings (NYSE:DHT) declares $0.23/share quarterly dividend, -8% decrease from prior dividend of $0.25.
• Forward yield 19.17%
• Payable Aug. 31; for shareholders of record Aug. 24; ex-div Aug. 22.

[MisterEC]

Makes the Ex-Div date May 4th?

[MisterEC]

Navios Maritime Midstream Partners L.P. Reports Financial Results for the First Quarter of 2016

Angeliki Frangou, Chairman and Chief Executive Officer of Navios Midstream stated “We are pleased to report our results for the first quarter of 2016, in which we recorded $17.7 million of EBITDA and $7.5 million of net income, representing increases of 40.2% and 18.7%, respectively, over the first quarter of 2015. We also announced a distribution of $0.4225 per unit, representing an annualized distribution of $1.69 per unit and a current yield of 13.9%.”

Cash Distribution

The Board of Directors of Navios Midstream declared a cash distribution for the first quarter of 2016 of $0.4225 per unit. The cash distribution is payable on May 12, 2016 to unitholders of record as of May 6, 2016.

http://ih.advfn.com/p.php?pid=nmona&article=71288484

[MisterEC]

Conference call on Wednesday, April 27, 2016 at 8:30 am ET
Navios Maritime Midstream Partners L.P. Announces the Date for the Release of First Quarter 2016 Results, Conference Call and...

[MisterEC]

MAY 19 2016

Q1 2016 Earnings Release

EPS estimate consensus
$0.409

[MisterEC]

Very good. The dividend is relatively secure I believe. More so than with the oil producers. This is what Motley Fool states: Navios Maritime Midstream represents the least risky investment of these three oil tanker stocks, as it only acquires tankers with long-term charters -- an average of 7.2 years at IPO -- already in place.

This is where I first got introduced to NAPA Safe 17% Yielder Benefiting From Cheap Oil

I may have bought too early the author said. I averaged out of an ETF and into here between 9.1 and 11.85

High-Dividend Stock Yields 16%, Has Strong Dividend Coverage, Priced Below Book Value

[TheDrew]

9.32. I only bought a couple hundred tho. Buy more tomorrow

[MisterEC]

Good what price did you get in at, and what convinced you to own it?

[TheDrew]

I'm in.

[MisterEC]

http://www.navios-midstream.com/Fleet/

[MisterEC]

At the current price, this stock yields 1.69/8.76=19.3%
•This distribution is fully backed by fixed charters through the end of 2017, with a pair of high earning vessels contracted into the 2020's.