New book by Larry Connors Click here Improve your trading - See how
Shares are trading at $38.00 at approximately 8:30 AM ET, down from Tuesday's close of $39.93. With the decline, the stock is poised to add to losses posted in the previous session, returning to levels posted in early April.
The firm said it has started a public offering of 7.5 million common units representing limited partner interests, with a 30-day option for the underwriters to purchase up to an additional 1.125 million common units.
Net proceeds from the offering will be used to fund capital expenditures, and capital contributions to joint venture entities, related to pipeline construction projects, as well as general partnership expenses.
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The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
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