Eni is a Better Buy Than ExxonMobil Corp
We regard shares of ExxonMobil as a foundational holding for investors seeking growth and income over the long term. But Focus List holding Eni (Milan: ENI, NYSE: E) offers a better value right now.
MPLX LP: Drop-Down Transactions to Drive Future Distribution Growth
A spin-off from refining giant Marathon Petroleum Corp (NYSE: MPC), MPLX LP (NYSE: MPLX) went public at the end of October and boasts impressive growth prospects.
Summit Midstream Partners LP: Cash Grab or Wealth Generator?
Amid the recent influx of MLPs that own nontraditional assets or pay a variable distribution, Summit Midstream Partners LP, which went public on Sept. 27, 2012, is a bit of a throwback: a midstream operator that owns gathering and processing assets and pays a regular quarterly distribution.
Mind the Differentials
Basis differentials should remain elevated over the long term, supporting higher profitability for North American refiners with operations in geographically advantaged regions and the technological flexibility to handle discounted grades of crude.
The Appeal of Investing in MLPs
Despite the dramatic changes that have occurred in the universe of publicly trade partnerships since the 1980s, the basic appeal of this security class to investors has remained the same: above-average yields and significant tax advantages. These qualities, coupled with the current market environment and investor psychology, explain the increasing popularity of publicly traded partnerships.
MLP Basics: Incentive Distribution Rights Explained
Readers often ask how incentive distribution rights are calculated and how this fee schedule affects an MLP’s ability to grow its distribution over time. Here’s a lucid explanation of this complex topic.
MLP Investing: IRS Expands Definition of Qualifying Income
A recent private letter ruling from the Internal Revenue Service suggests that some petrochemical assets are suitable for MLPs. The market’s reaction to this news appears slightly misguided.
A Tale of Two Energy Commodities: The Intertwined Fortunes of Coal and Natural Gas
Although the price of natural gas has recovered to depressed levels from ultra-depressed levels, we do not expect the oversupplied commodity to enjoy a significant, sustainable rally in the next two to three years. That being said, we do see intermediate-term upside in the domestic market for thermal coal.
Investing in MLPs: Yield vs. Distribution Growth
Although income-seeking investors often gravitate toward the highest-yielding master limited partnerships, the potential for distribution growth is a much more important driver of total returns.
Under Pressure: Profit Margins on North American Hydraulic Fracturing
Avoid North America-focused services names that have outsized exposure to pressure-pumping.
Live Chat with
Elliott and Roger on Jan. 28, 2021
Portfolios & Ratings
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Balanced portfolios of energy stocks for aggressive and conservative investors.
Producers and Drillers
Our take on more than 50 energy-related equities, from upstream to downstream and everything in between.
MLPs and Midstream
Our assessment of every energy-related master limited partnership.
International Coverage
Roger Conrad’s coverage of more than 70 dividend-paying energy names.
Experts
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Elliott H. Gue
Founder and Chief Analyst: Capitalist Times and Energy & Income Advisor
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Roger S. Conrad
Founder and Chief Analyst: Capitalist Times and Energy & Income Advisor