Don’t Sweat DAPL: There’s Still Life in Midstream Stocks
After a series of rulings rejecting federal permits for new pipelines, the US District Court for D.C. actually threw out one for an already operating one. The result: An order to immediately shut down the $3.8 billion Dakota Access Pipeline, which transports oil from the Bakken shale of the upper Midwest.
Best Bets on Pipeline Politics
In an industry where time equals money, permits for new US oil and especially natural gas pipelines were once basically a formality. But the Federal Energy Regulatory Commission’s lack of quorum in early 2017 led to delays that allowed record fundraising by pipeline opponents and legal challenges to projects on an unprecedented scale.
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.
Around the Portfolios
Fourth-quarter earnings season was anything but uneventful for some of our Portfolio holdings.
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.
Why Kinder Morgan’s Results Matter
Midstream heavyweight Kinder Morgan (NYSE: KMI) kicked off fourth-quarter earnings season for the energy sector last week. Here are our thoughts.
Focus List (Mostly) Outperforms and Portfolio Updates
The improved outlook for oil prices and the rotation into energy stocks has lifted most boats in the sector, though we’re pleased that nine of the 13 names on our Focus List have outperformed the S&P 500 Energy Index over an equivalent holding period. We review our Focus List and discuss earnings and other pertinent developments affecting our Portfolio holdings.
Profiting from Key Energy Trends in Canada, Australia and Mexico
We’re less than three weeks into 2018, but several notable trends have emerged affecting the names in our International Portfolio, which primarily comprises positions in Canadian and Australian energy companies. These developments bear watching and will create challenges and opportunities over the next 12 to 18 months.
Live Chat with
Elliott and Roger on Aug. 31, 2020
Portfolios & Ratings
Model Portfolios
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