Remember when energy prices collapsed in late 2008 and early 2009? Investors who heeded our call to load up on our favorite master limited partnerships (MLP) and other energy stocks during this epic dip made out like bandits.
This time it’s different. Whereas frenzied drilling activity in unconventional oil and gas plays drove huge upside for savvy investors over the subsequent years, the shale revolution has dramatically increased spare production capacity.
Instead of betting on a return to the old normal, investors should position their portfolios for the new normal, a period of overcapacity in the services industry and increasing competition between basins and producers for market share. The winners will boast low production costs and solid balance sheets.
Instead of buying the dip indiscriminately, focus on the names in our conservative portfolio, especially the stocks with a heart next to them–those are our best buys in today’s market.
In this issue, we finish our survey of the highest-yielding MLPs and uncover a gem or two amid the rubble.
The price of a mixed barrel of NGLs on the Gulf Coast has plummeted by 45 percent since the end of the third quarter.
Surging production in the Marcellus Shale has also created challenges for producers and has important implications for investors and natural-gas prices in other regions.
Investors still flock to initial public offerings of master limited partnerships.
US propane exports have soared to a record high--and there's more upside to come.
First Solar and SunPower Corp announced a yieldco earlier this week. Should you believe the hype?
Oil and gas producers worldwide have felt the sting from lower energy prices. Although much of the media attention has focused on the US companies spearheading the shale revolution, their counterparts north of the border arguably have taken a harder hit.
A number of trends suggest that the MLP space is poised for consolidation. Here's how to play it.
Despite management's best efforts, there's more downside in store for Linn Energy.
The prospect of sky-high yields may draw some bargain hunters to hard-hit upstream master limited partnerships; history suggests that there's more downside to come for these names.
Elliott and Roger on Mar. 3, 2015
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Our assessment of every energy-related master limited partnership.
Roger Conrad’s coverage of more than 70 dividend-paying energy names.