04/26/18: Streaminlining Before Simplification
We share our take on EQT Midstream Partners LP and EQT GP Holdings LP’s first-quarter results, their “streamlining” transactions annoucned today and the outlook for an eventual simplification deal.
Why Master Limited Partnerships Are Issuing More Bonds and Preferred Stock
Equity issuance by master limited partnerships (MLP) has fallen off a cliff this year, but these names have stepped up their sales of bonds and preferred units.
Why Nontraditional Master Limited Partnerships Have Outperformed in 2018
A lack of market depth means that some of the highest-quality master limited partnerships have struggled to gain traction this year, helpting to explain why many of this year’s top performers come from off the beaten path.
Focus List Update: Holding Their Own
Our stock selection in the upstream segment has proved fortuitous in an earnings season where the market has punished companies that reported disappointing results and/or guidance.
NuStar Energy LP Brings the Pain, But We Remain Selectively Bullish on MLPs
NuStar Energy LP’s 45 percent distribution cut provides yet another sign of the changing of guard underway in the midstream industry. That said, amid all this pain, we remain selectively bullish on master limited partnerships.
Portfolio News and Moves
Fourth-quarter earnings season is in full swing. Recent results and developments have prompted us to adjust our buy targets on a few holdings.
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.
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.
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.
 |
|||
 |
 |
 |
|
 |
|||
 |
 |
||
 |
|
|
|
Live Chat with
Elliott and Roger on May. 31, 2018
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
-
Roger S. Conrad
Founder and Chief Analyst: Capitalist Times and Energy & Income Advisor
-
Elliott H. Gue
Founder and Chief Analyst: Capitalist Times and Energy & Income Advisor
-
Peter Staas
Managing Editor: Capitalist Times and Energy & Income Advisor