On the Prowl at the MLP Association’s Annual Investor Conference
Over the past 12 months, the difference between the top and bottom performers in the Alerian MLP Infrastructure Index amounted to about 60 percentage points. Capturing this upside requires on-the-ground intelligence, which is why we attend the MLPA Association’s annual investor conference every year.
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.
The Discount On MLP Equity Offerings Narrows
Narrowing discounts on midstream MLPs’ overnight equity offerings bode well for the group.
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.
On The Record: Key Quotes From Midstream MLPs’ Fourth-Quarter Earnings Calls
While reading through transcripts of master limited partnerships’ fourth-quarter earnings calls, we compiled a series of quotes from management teams that provide insight into some of the macro trends that will continue to drive returns and opportunities in the space.
Why Are These 5 MLPs So Heavily Shorted?
We dig into the five master limited partnerships with the highest percentage of short interest.
Deals, Deals, Deals
This week brought rush of third-quarter earnings and three acquisitions involving midstream MLPs. Here’s our take on this flurry of deal announcements.
Midstream Takeover Targets
The midstream segment appears ripe for consolidation, as well-heeled utilities seek to leverage their low cost of capital and pull on the demand side to add exposure to gas pipelines.
Natural-Gas Pipelines: Pump up the Volumes
The best-positioned natural-gas pipelines have benefited from surging production in the Marcellus Shale as well as growing demand for the thermal fuel among utilities, thanks to ultra-low prices and the retirement of coal-fired power plants. This tailwind looks set to continue in coming years, which helps to explain the accelerating pace of merger and acquisition activity targeting these assets. But not all pipelines are created equal. We highlight some of our favorite midstream operators.
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Live Chat with
Elliott and Roger on Jul. 27, 2017
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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Roger S. Conrad
Founder and Chief Analyst: Capitalist Times and Energy & Income Advisor
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Elliott H. Gue
Founder and Chief Analyst: Capitalist Times and Energy & Income Advisor
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Peter Staas
Managing Editor: Capitalist Times and Energy & Income Advisor