MLPs: Review and Outlook
We explain why we remain selectively bullish on master limited partnerships in 2018, discuss key opportunities and areas of risk, analyze trends in mergers and acquisitions, and highlight our favorite picks for the coming year.
Lessons from Canada for US Midstream Master Limited Partnerships
Does Canada’s midstream segment provide a model for the evolution of US master limited partnerships? We explore what factors have helped Canadian pipeline stocks outperform despite currency headwinds and lower realizations on oil and gas prices.
Paradigm Shift in MLP Land
Big changes are afoot in the midstream segment. Many master limited partnerships appear to have taken Enterprise Products Partners LP’s lead and shifted their focus to building distribution coverage and reducing equity. We explore which names will be able to make this transition with relative ease and which names face more of a slog to put themselves on a path to sustainability.
Midstream IPOs: Rockin’ the Bakken
The flow of initial public offerings in the midstream space has slowed significantly since investor demand for master limited partnerships peaked a few years ago. We review the latest MLPs to go public or file initial registration statements with the SEC.
MLP Ratings Update
In preparation for the MLP Association’s annual investor conference, we went through the exhaustive (and frequently exhausting) process of digging into and updating our comments for all the names in our MLP Ratings table.
Focus On The Permania
The latest additions to the Energy & Income Advisor Focus List have lagged of late, primarily because of the selloff in West Texas Intermediate crude oil. In light of these recent market moves, we we revisit our outlook and investment strategy.
Deal Flow Accelerates In Cotton Valley And Haynesville Shale
Enterprise Products Partners LP’s acquisition of Azure Midstream Partners LP’s gas-gathering and -processing assets marked the latest in a series of deals involving assets in the resurgent Haynesville Shale and the emerging Cotton Valley play. We explore what it all means and whether it’s worth placing a bet.
Focus Up
Our Focus List has continued to outperform the S&P 500 Energy Index over equivalent holding periods. Note that we have dropped MPLX LP (NYSE: MPLX) from the Focus List after the stock gained more than 25 percent since early December and traded above our value-based buy target for more than a month.
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Live Chat with
Elliott and Roger on Jul. 1, 2019
Portfolios & Ratings
Model Portfolios
Balanced portfolios of energy stocks for aggressive and conservative investors.
Coverage Universe
Our take on more than 50 energy-related equities, from upstream to downstream and everything in between.
MLP Ratings
Our assessment of every energy-related master limited partnership.
International Coverage Universe
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