logo
BlackRock mulls selling stake in Saudi Aramco gas pipelines, Bloomberg News reports

BlackRock mulls selling stake in Saudi Aramco gas pipelines, Bloomberg News reports

Yahoo5 hours ago
(Reuters) -Asset manager BlackRock Inc is in talks with Saudi Aramco to divest its stake in the leasing rights of a natural gas pipeline network back to the state oil major, Bloomberg News reported on Thursday, citing people familiar with the matter.
The stake, which BlackRock acquired in 2021, is likely to be worth billions of dollars, according to the report.
Reuters could not immediately confirm the report.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Why Plains All American Pipeline Jumped Nearly 11% in June
Why Plains All American Pipeline Jumped Nearly 11% in June

Yahoo

time26 minutes ago

  • Yahoo

Why Plains All American Pipeline Jumped Nearly 11% in June

Plains All American Pipeline agreed to sell its Canadian NGL business last month. The sale will have several benefits. The deal puts the company in an even better position to grow its high-yielding distribution. 10 stocks we like better than Plains All American Pipeline › Shares of Plains All American Pipeline (NASDAQ: PAA) surged 10.8% in June, according to data provided by S&P Global Market Intelligence. Fueling the oil pipeline company's rally was an agreement to sell its Canadian natural gas liquids (NGL) business to Keyera. Plains All American Pipeline agreed to sell its Canadian NGL business to Keyera for $3.75 billion in cash last month. The master limited partnership (MLP) will retain most of its NGL assets in the U.S. and its Canadian crude oil operations. The company expects the sale to close in the first quarter of 2026. The transaction will transform Plains All American Pipeline into a premier midstream pure-play company specializing in crude oil. The pipeline company will produce more durable cash flows following the sale because it will reduce its direct exposure to commodity price volatility. The company also expects to generate more free cash flow following the deal and have greater financial flexibility. Plains All American Pipeline expects to receive approximately $3 billion in net proceeds from the sale after taxes, transaction costs, and a potential one-time special dividend to investors, which will help offset their potential tax liabilities. The company plans to utilize its enhanced financial flexibility to make bolt-on acquisitions that bolster its crude oil portfolio, optimize its capital structure by potentially repurchasing some of its preferred units, and execute opportunistic common unit repurchases. The transaction will put Plains All American in an even stronger position to continue growing its high-yielding distribution (more than 8% yield). The company expects its leverage ratio to be at or below the low end of its target range (3.25-3.75 times); it was 3.3x at the end of the first quarter. That will give it the flexibility to allocate capital toward initiatives that grow shareholder value. The company has demonstrated that it can use its financial flexibility to enhance value for investors. For example, in January, Plains made three bolt-on acquisitions for $670 million and repurchased 18% of its Series A Preferred Units for $330 million. Those transactions enabled the company to increase its dividend by 20%. Plains All American still trades at an attractive value after last month's surge. The MLP's yield is toward the high end of its peer group despite having very strong financial metrics. Because of that, it's a great option for those seeking sustainable and growing passive income. The company offers two investment options. Those seeking the tax benefits of an MLP can buy units of Plains All American Pipeline and receive a Schedule K-1 federal tax form. Meanwhile, investors who don't want the potential tax complications can buy shares of Plains GP Holdings (NASDAQ: PAGP) and receive a 1099-DIV form. Before you buy stock in Plains All American Pipeline, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Plains All American Pipeline wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $692,914!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $963,866!* Now, it's worth noting Stock Advisor's total average return is 1,050% — a market-crushing outperformance compared to 179% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 30, 2025 Matt DiLallo has no position in any of the stocks mentioned. The Motley Fool recommends Keyera. The Motley Fool has a disclosure policy. Why Plains All American Pipeline Jumped Nearly 11% in June was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Jefferies Lowers PT on Alibaba Stock to $153, Maintains Buy Rating
Jefferies Lowers PT on Alibaba Stock to $153, Maintains Buy Rating

Yahoo

time31 minutes ago

  • Yahoo

Jefferies Lowers PT on Alibaba Stock to $153, Maintains Buy Rating

Alibaba Group Holding Limited (NYSE:BABA) is one of the . On June 30, Jefferies lowered its price target on Alibaba Group Holding Limited stock from $156 to $153, maintaining its Buy rating on the stock. Thomas Chong from Jefferies slightly reduced the price target on BABA, citing increased investment in food delivery and logistics. Chong remains positive about Alibaba and said that its on-demand services, including Eleme and Taobao Instant Commerce, managed over 60 million daily orders in late June. This remarkable development could help Alibaba drive user growth and engagement, Chong mentioned. Christopher Penler / Alibaba has lately been investing in AI, and analysts see a major upside for the company, backed by its AI investments. Recently, Alibaba Group Holding Limited (NYSE:BABA) launched a new AI model for image generation called Qwen VLo. The model builds on the earlier Qwen 2.5 vision language system and offers advanced features for generating and editing images. The latest image generation AI model supports both text-to-image and image-to-image generation. Alibaba Group Holding Limited (NYSE:BABA) is a leading Chinese e-commerce platform. It is a diversified company with a major share in cloud services and a growing presence in Gen AI. While we acknowledge the potential of BABA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store