Kayne Anderson Energy Infrastructure Fund ( KYN ) renewed its unsecured revolving credit facility. The renewed facility maintains the existing $175M commitment. The maturity has been extended to February 18, 2027, replacing the prior facility set to mature on February 19, 2026. More on Kayne Anderson Energy Infrastructure Fund KYN: Monthly Midstream Cash Flow At An 11% Discount To NAV Seeking Alph...
Kayne Anderson Energy Infrastructure Fund ( KYN ) renewed its unsecured revolving credit facility. The renewed facility maintains the existing $175M commitment. The maturity has been extended to February 18, 2027, replacing the prior facility set to mature on February 19, 2026. More on Kayne Anderson Energy Infrastructure Fund KYN: Monthly Midstream Cash Flow At An 11% Discount To NAV Seeking Alpha’s Quant Rating on Kayne Anderson Energy Infrastructure Fund Dividend scorecard for Kayne Anderson Energy Infrastructure Fund
Evgenii Mitroshin/iStock via Getty Images Infinity Natural Resources ( INR ) said Thursday it agreed to increase its interest to 60% from 51% in the $1.2B Antero Ohio Utica shale acquisition, following an agreement with Northern Oil and Gas ( NOG ). Northern Oil ( NOG ) said its proportionate share of the purchase price would be reduced to $480M from $588M, reflecting the updated interest; no othe...
Evgenii Mitroshin/iStock via Getty Images Infinity Natural Resources ( INR ) said Thursday it agreed to increase its interest to 60% from 51% in the $1.2B Antero Ohio Utica shale acquisition, following an agreement with Northern Oil and Gas ( NOG ). Northern Oil ( NOG ) said its proportionate share of the purchase price would be reduced to $480M from $588M, reflecting the updated interest; no other changes were made to the previously announced governance terms. Infinity Natural ( INR ) said its increased stake in the Utica acquisition will be funded by some of the proceeds of a $350M preferred stock investment from Quantum Capital Group and Carnelian Energy Capital Management. Infinity Natural ( INR ) said it continues to expect the acquisition will close by the end of Q1. More on Northern Oil & Gas and Infinity Natural Resources Northern Oil and Gas, Infinity Natural Resources - Pre Recorded M&A Call - Slideshow Northern Oil and Gas: Expects Substantial Growth From Its Acquired Utica Assets Infinity Natural Resources: An Interesting New Player In Appalachia
Janus Henderson is launching a new ETF that will invest in bonds issued by CLOs. John Kerschner, Global Head of Securitized Products & Portfolio Manager at Janus Henderson joins "ETF IQ" to discuss. (Source: Bloomberg)
Janus Henderson is launching a new ETF that will invest in bonds issued by CLOs. John Kerschner, Global Head of Securitized Products & Portfolio Manager at Janus Henderson joins "ETF IQ" to discuss. (Source: Bloomberg)
March WTI crude oil (CLH26 ) on Thursday closed up +1.24 (+1.90%), and March RBOB gasoline (RBH26 ) closed up +0.0386 (+1.96%). Crude oil and gasoline prices added to Wednesday’s sharp rally on Thursday, with crude climbing to a 6.5-month high and gasoline posting a 1-week high. Mounting geopolitical risks...
March WTI crude oil (CLH26 ) on Thursday closed up +1.24 (+1.90%), and March RBOB gasoline (RBH26 ) closed up +0.0386 (+1.96%). Crude oil and gasoline prices added to Wednesday’s sharp rally on Thursday, with crude climbing to a 6.5-month high and gasoline posting a 1-week high. Mounting geopolitical risks...
jetcityimage/iStock Editorial via Getty Images Units of Sunoco LP ( SUN ) have been a moderate performer over the past year, gaining 6% while also paying a 6+% dividend yield. The stock has performed better of late, hitting a 52-week high as the benefits of its Parkland acquisition become clearer and optimism about the durability of distribution growth increases. I last covered Sunoco in November ...
jetcityimage/iStock Editorial via Getty Images Units of Sunoco LP ( SUN ) have been a moderate performer over the past year, gaining 6% while also paying a 6+% dividend yield. The stock has performed better of late, hitting a 52-week high as the benefits of its Parkland acquisition become clearer and optimism about the durability of distribution growth increases. I last covered Sunoco in November when I reiterated units as a “ B uy,” given my belief in its capacity to sustain 5% distribution growth through 2030. Since then, units have rallied over 16%, validating my view. With updated financials and such strong performance, now is a good time to revisit SUN. Seeking Alpha Q4 results were solid as Parkland is integrated In the partnership’s fourth quarter , Sunoco’s distributable cash flow was $442 million. Adjusted EBITDA reached $706 million in Q4, aided by two months of Parkland (note this metric excludes $60 million of one-time transaction costs), though GAAP G&A expenses tripled to $156 million. While operating expenses will be structurally higher given M&A over the past year, this was exaggerated by one-time integration and transaction costs. Overall, this was another solid quarter, and it reaffirmed my view that SUN is poised for ongoing distribution growth. Looking at segment results, fuel distribution EBITDA was $391 million. Its margin rose to 17.7cpg as we started to see margin benefits from Parkland, and it sold 3.3 billion gallons of fuel vs. 2.2 billion last year. EBITDA was up from $192 million last year. Its fuel margin was up ~7 cents, and I expect to see some moderation here. While Parkland should make margins structurally higher, I expect ~16-17cpg going forward. Pipeline EBITDA was $187 million, which was essentially flat from last year. Volumes were slightly lower than last year at 1.4mb/d, given the timing of customer maintenance activity, which can temporarily reduce volumes. While it does not have substantial organic growth, this unit provides...
tadamichi/iStock via Getty Images In the last few quarters, I have always been cautious about Amazon.com, Inc. ( AMZN ) and usually rated the stock as a Hold. Considering that most Seeking Alpha and Wall Street analysts were rather bullish in the last three years, my Hold rating was rather an outlier. But so far, my Hold ratings were rather correct, as the stock declined since my last articles wer...
tadamichi/iStock via Getty Images In the last few quarters, I have always been cautious about Amazon.com, Inc. ( AMZN ) and usually rated the stock as a Hold. Considering that most Seeking Alpha and Wall Street analysts were rather bullish in the last three years, my Hold rating was rather an outlier. But so far, my Hold ratings were rather correct, as the stock declined since my last articles were published. I had to go back to my article from August 2024 to find the first article where we can question the Hold rating. Since that article was published, the stock has increased 22%, but it still underperformed the S&P 500 ( SP500 ), which increased 27% in the same timeframe. My last article about Amazon was published in November 2025, and in my conclusion, I wrote: No matter what calculation we use, I don’t see Amazon being a bargain yet. Right now, Wall Street as well as Seeking Alpha analysts are very bullish and obviously see Amazon being a great bargain at this point. I don’t share this optimism and while I don’t see Amazon being extremely overvalued, I also don’t see the stock being a bargain or a good investment at this point. The stock is trading close to its intrinsic value and we certainly can expect an annual return in the high single digits (or maybe 10%) from an investment. But in my opinion, it is not an investment we have to make or a great buying opportunity. Even in this market with many stocks being extremely overvalued, I think we can find better investments. At this point, analysts are still rather bullish, and with the stock price stagnating or rather declining while the business is improving over time, it could be reasonable to be bullish again at some point. Amazon Analysts Ratings (Seeking Alpha) In the following article, we will argue that Amazon is moving closer to its intrinsic value and could become a solid investment if the stock continues to decline. We will look at the growth potential the business has, but also at the extremely high cap...
Venezuela has started to increase fuel prices at gasoline stations in Caracas as it seeks fresh revenue while reopening its oil industry to foreign investment and boosting output. State-controlled Petróleos de Venezuela SA began offering premium gasoline at a handful of stations in the capital, charging roughly double the price of regular fuel. An initial rollout includes 10 stations selling 97-oc...
Venezuela has started to increase fuel prices at gasoline stations in Caracas as it seeks fresh revenue while reopening its oil industry to foreign investment and boosting output. State-controlled Petróleos de Venezuela SA began offering premium gasoline at a handful of stations in the capital, charging roughly double the price of regular fuel. An initial rollout includes 10 stations selling 97-octane gasoline exclusively in dollars, according to two people with knowledge of the plan. PDVSA hasn’t released details and didn’t immediately respond to requests for comment. Venezuela lacks an independent institution overseeing PDVSA’s products, making it difficult to assess the quality of the fuel. The move underscores the government’s effort to generate new income streams as it courts foreign partners and navigates US policy shifts aimed at reshaping Venezuela’s energy sector, including partial sanctions relief and closer oversight of oil sales. Since 2020, Venezuela has operated a dual-pricing system for regular fuel, with a heavily subsidized tier of less than a cent per liter and a higher-priced option at 50 cents a liter, or $1.89 a gallon. At selected PDVSA stations, premium gasoline is now being sold for $1 a liter, or $3.78 a gallon, bringing prices closer to US levels. The new fuel is produced at Venezuelan refineries and is meant to offer higher quality after years of mismanagement crippled the country’s refining system and narrowed the range of products available domestically. During periods when Venezuela relied on Iranian imports, drivers complained of clogged fuel filters and vehicle breakdowns. Previous attempts to raise fuel prices have faced public backlash . After announcing hikes six years ago, the government rolled back some increases, including for diesel, which is critical for industry and commerce. Even with the latest changes, subsidized gasoline and diesel sold at roughly a third of stations remain among the cheapest in the world.
Namib Minerals ( NAMM ) on Thursday said that it has regained compliance with a Nasdaq listing requirement related to the minimum market value of publicly held shares. The company said it received a letter from Nasdaq Stock Market LLC on February 18 stating it now meets the $15 million minimum market value of publicly held shares requirement under Nasdaq Listing Rule 5450(b)(2)( C ). Namib Mineral...
Namib Minerals ( NAMM ) on Thursday said that it has regained compliance with a Nasdaq listing requirement related to the minimum market value of publicly held shares. The company said it received a letter from Nasdaq Stock Market LLC on February 18 stating it now meets the $15 million minimum market value of publicly held shares requirement under Nasdaq Listing Rule 5450(b)(2)( C ). Namib Minerals had been notified on January 30 that it was not in compliance with the rule. The company was required to maintain a minimum market value of publicly held shares of at least $15 million for 10 consecutive trading days to regain compliance, a condition Nasdaq determined had been satisfied. The company’s ordinary shares will continue to be listed on the Nasdaq Global Market. NAMM -2.20% after hours to $3.54. Source: Press Release More on Namib Minerals Namib Minerals: Separating Restart Hype From Core Value Seeking Alpha’s Quant Rating on Namib Minerals Historical earnings data for Namib Minerals Financial information for Namib Minerals
LegalZoom.com press release ( LZ ): Q4 Non-GAAP EPS of $0.17 misses by $0.01 . Revenue of $190.3M (+17.7% Y/Y) beats by $5.59M . Shares -3.12% . Financial Guidance and Outlook Our guidance for the first quarter ending March 31, 2026 is as follows: Revenue is expected to be in the range of $200 million to $203 million, or 10% year-over-year growth at the midpoint. Our outlook assumes continued exec...
LegalZoom.com press release ( LZ ): Q4 Non-GAAP EPS of $0.17 misses by $0.01 . Revenue of $190.3M (+17.7% Y/Y) beats by $5.59M . Shares -3.12% . Financial Guidance and Outlook Our guidance for the first quarter ending March 31, 2026 is as follows: Revenue is expected to be in the range of $200 million to $203 million, or 10% year-over-year growth at the midpoint. Our outlook assumes continued execution of our growth initiatives. Adjusted EBITDA is expected to be in the range of $34 million to $36 million, a 5% year-over-year decrease at the midpoint, reflecting a shift in timing of marketing investments to align with peak business formation seasonality. Our guidance for the full year ending December 31, 2026 is as follows: Revenue is expected to be in the range of $805 million to $825 million, or 8% year-over-year growth at the midpoint. Our outlook reflects continued momentum of our growth initiatives including higher-value customer acquisition and an emphasis on differentiated human-in-the-loop service offerings. Adjusted EBITDA is expected to be in the range of $190 million to $200 million, or 13% year-over-year growth at the midpoint, reflecting improved gross margins and disciplined cost management. More on LegalZoom.com LegalZoom.com, Inc. (LZ) Presents at Barclays 23rd Annual Global Technology Conference Transcript LegalZoom.com Q4 2025 Earnings Preview Enterprise software stocks tumble as analysts mull growth acceleration amid AI impact Seeking Alpha’s Quant Rating on LegalZoom.com Historical earnings data for LegalZoom.com
Imaflex ( IFX:CA ) shareholders approved the previously announced plan of arrangement. The transaction will see Soteria Flexibles AcquireCo, an affiliate of Soteria Flexibles, acquire all issued and outstanding common shares of Imaflex. The transaction is expected to close on or about February 27, 2026. More on Imaflex Soteria Flexibles acquires Imaflex Seeking Alpha’s Quant Rating on Imaflex Hist...
Imaflex ( IFX:CA ) shareholders approved the previously announced plan of arrangement. The transaction will see Soteria Flexibles AcquireCo, an affiliate of Soteria Flexibles, acquire all issued and outstanding common shares of Imaflex. The transaction is expected to close on or about February 27, 2026. More on Imaflex Soteria Flexibles acquires Imaflex Seeking Alpha’s Quant Rating on Imaflex Historical earnings data for Imaflex Financial information for Imaflex
winyuu/iStock via Getty Images SCHD: Next reconstitution expected in March 2026 I last analyzed the Schwab US Dividend Equity ETF ( SCHD ) on January 15, with an article entitled “SCHD Vs. SPY: Rotation To Value Is Gaining Momentum.” The article was triggered by the divergence I observed between SCHD and SPY at that time and gave the ETF a buy rating. In this article, I want to focus on a new cata...
winyuu/iStock via Getty Images SCHD: Next reconstitution expected in March 2026 I last analyzed the Schwab US Dividend Equity ETF ( SCHD ) on January 15, with an article entitled “SCHD Vs. SPY: Rotation To Value Is Gaining Momentum.” The article was triggered by the divergence I observed between SCHD and SPY at that time and gave the ETF a buy rating. In this article, I want to focus on a new catalyst: the upcoming reconstitution of the fund expected in March. In particular, I ran my own screenings of dividend stocks and simulated their reconstitution changes. I wanted to highlight a few potential changes to its holdings based on my projections. I hope this will be timely for SCHD investors to make informed decisions about the fund (for example, to consider their SCHD allocation based on other stocks they hold). To better contextualize the changes I anticipate, let’s begin with a brief recap of what the fund did in 2025 and where it stands now. As background, SCHD announced its 2025 reconstitution in March 2025, and key changes are shown in the screenshot below. As seen, the largest net additions are toward energy stocks, which saw an addition of five holdings. The consumer discretionary and financial sectors saw the most removals, with a net deletion of four for each sector. With these changes, the fund trimmed its financial exposure and gained a net exposure increase of 8.8% toward the energy sector, making energy its largest exposure after the reconstitution (at a weight of 21.0%) SCHD Fund Facts Since then, due to the underperformance of energy stocks relative to other sectors, the weight of this sector has decreased to 19.9%, per the latest fund disclosure (see the next screenshot below). Healthcare is the third largest holding with a 16.2% exposure, and financials are the fifth largest with a 9.7% weighting. Against this background, next I will explain why my projections suggest that the 2026 reconstitution can A) reverse some of the 2025 changes by removing s...
Men’s team edge tense semi-final battle 8-5 They go for gold in Saturday’s final against Canada Great Britain’s men’s team will play for the curling gold night against Canada, after they beat Switzerland 8-5 in an extraordinarily tense semi-final. The GB quartet, who only scraped through the round-robin stage because the Italians lost to the Swiss earlier in the day, had promised that they would...
Men’s team edge tense semi-final battle 8-5 They go for gold in Saturday’s final against Canada Great Britain’s men’s team will play for the curling gold night against Canada, after they beat Switzerland 8-5 in an extraordinarily tense semi-final. The GB quartet, who only scraped through the round-robin stage because the Italians lost to the Swiss earlier in the day, had promised that they would be an entirely different proposition if they got to the knockout rounds and they were as good as their word. The Swiss had won all nine games they had played coming into this semi-final, but were soundly beaten by Bruce Mouat and his team of Grant Hardie, Hammy McMillan and Bobby Lammie. Continue reading...
According to Invesco, resurgent investor demand for commodity exposure is supporting oil prices in a year when many anticipated a bearish supply glut. Kathy Kriskey, Head of Alternatives ETF Strategy at Invesco, joins "ETF IQ" to discuss. (Source: Bloomberg)
According to Invesco, resurgent investor demand for commodity exposure is supporting oil prices in a year when many anticipated a bearish supply glut. Kathy Kriskey, Head of Alternatives ETF Strategy at Invesco, joins "ETF IQ" to discuss. (Source: Bloomberg)
Fidelity National Financial press release ( FNF ): Q4 Non-GAAP EPS of $1.41 misses by $0.09 . Revenue of $4.05B (+11.9% Y/Y) beats by $390M . Full Year 2025 AUM before flow reinsurance was $73.1 billion at year-end 2025, an increase of 12% over year-end 2024. This included retained AUM of $57.6 billion, an increase of 7% over year-end 2024 Gross sales were $14.6 billion for the full year, one of o...
Fidelity National Financial press release ( FNF ): Q4 Non-GAAP EPS of $1.41 misses by $0.09 . Revenue of $4.05B (+11.9% Y/Y) beats by $390M . Full Year 2025 AUM before flow reinsurance was $73.1 billion at year-end 2025, an increase of 12% over year-end 2024. This included retained AUM of $57.6 billion, an increase of 7% over year-end 2024 Gross sales were $14.6 billion for the full year, one of our best sales years in history, driven by favorable market conditions and strong demand for retirement savings products; our all-time record of $15.3 billion was in 2024 Core sales were $9.0 billion for the full year, reflecting strong indexed annuity, indexed universal life and pension risk transfer sales; our second year of more than $9 billion in core sales Opportunistic sales were $5.6 billion for the full year, comprised of $3.8 billion of multiyear guaranteed annuities and $1.8 billion of funding agreements, compared to $6.1 billion in full year 2024 which was comprised of $5.1 billion of multiyear guaranteed annuities and $1.0 billion of funding agreements. Opportunistic volumes vary depending on economics and market opportunity Net sales were $10.0 billion for the full year, compared to $10.6 billion for the full year 2024; this reflects flow reinsurance at varying ceded amounts in line with capital targets for multiyear guaranteed annuities and fixed indexed annuities F&G Segment net earnings attributable to common shareholders were $217 million for the full year due to favorable mark-to-market movement, compared to net earnings of $538 million for the full year 2024 which included favorable mark-to-market movement F&G Segment adjusted net earnings attributable to common shareholders were $412 million for the full year, compared to $475 million for the full year 2024 F&G Segment adjusted net earnings of $412 million for the full year 2025 included income from $13 million, or $0.05 per share, reinsurance true-up adjustment, $8 million, or $0.03 per share, tax valuat...