The Fed indicated that it could implement two more rate hikes in 2017. The market speculates one of the rate hikes could occur in June, and the other one is expected to occur around December 2017.
According to preliminary results released by the University of Michigan in May 2017, the consumer sentiment index gained 3.2% year-over-year for May to date, standing at 97.7%.
According to Freddie Mac, approximately 75.4 million Millennials and 74.9 million Baby Boomers are expected to join the pool of customers for apartment units in 2017.
In 1Q17, Southern California comprised 25% of Equity Residential’s (EQR) total revenues, 19% of its total revenues came from Washington, D.C., and New York comprised 21% of its total revenues.
On March 31, 2017, Equity Residential (EQR) owned 302 properties in ten states and the District of Columbia, comprising 77,498 apartment units.
In 2016, Equity Residential (EQR) completed $1.1 billion in development projects, a record for the company. It expects to complete $900 million in development projects in 2017.
At a broader level, 86.0% of analysts rate Cheniere Energy a “buy,” and the remaining 14.0% rate it a “hold.”
Short interest in Cheniere Energy (LNG) as a percentage of float has come down to 5.0%.
Cheniere’s forward EV-to-EBITDA multiple of 20.5x is higher than the peer median of 13.6x.
Cheniere Energy’s (LNG) current volatility of 27.4% is higher than the sector average of 14.0%.
Cheniere Energy (LNG) continues to rally after the LNG trade deal between the US and China. The company rose 2.2% last week.
The US Dollar Index pulled back from the lowest levels in more than seven months. The US Dollar Index is slightly weaker in early hours on May 24.
Kinder Morgan (KMI) is currently trading at a forward EV-to-EBITDA multiple of nearly 11.4x. This is much lower than its five-year average multiple of nearly 17.4x.
Of the analysts surveyed by Reuters, 93% rated Enterprise Products Partners (EPD) a “buy.”
According to analyst-adjusted numbers, Energy Transfer Equity’s net debt-to-EBITDA currently stands at 7.8x.
On May 16, 2017, short interest in WMB stock was 1.3%. It has fallen from nearly 2.5% at the end of 2016.
Williams Companies’ holdings of top five institutional investors increased by a net 20.9 million shares. The Vanguard Group added 10.9 million WMB shares to its holdings.
Enterprise Products Partners’ (EPD) financial discipline is reflected in the relatively slower growth of its debt. The company’s debt stood at ~$23 billion at the end of 1Q17.
Currently, Williams Companies’ (WMB) net debt-to-equity ratio stands near 1.4x.
Enterprise Products Partners’ (EPD) distributions grew at a CAGR of 6% from 2012–2016.