Why Atlas Pipeline Partners (APL) Is Down Today

NEW YORK (TheStreet) -- Atlas Pipeline Partners  (APL) was falling 4.52% to $31.58 on Tuesday afternoon after its posted a wider fourth-quarter loss. 

Atlas announced that it posted a $47.8 million loss for the fourth quarter, compared to a $6.9 million loss in the same period in 2012. The 2013 figure includes a non-cash impairment charge of $43.9 million. Adjusted EBITDA was $86.7 million, a 35% year-over-year increase, while distributable cash flow was $51.7 million, a 28% year-over-year increase from $40.4 million last year.

The company also noted that severe winter weather had an effect of an estimated $5 million for the quarter on distributable cash flow.

"This past year was another step forward for the partnership as we continue to grow the business," said CEO Eugene Dubay in the company's statement. "We are in more areas serving more producers and adding more infrastructure than at any other point in the history of the company. As we continue to diversify our operations, add talent, and de-risk the cash flows of the partnership, we are a stronger enterprise. Because of this, we are being presented with opportunities that we would not have had a chance to pursue in years prior."

TheStreet Ratings team rates ATLAS PIPELINE PARTNER LP as a "hold" with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate ATLAS PIPELINE PARTNER LP (APL) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity."

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