But if I knew how to manage my portfolio safer and smarter than most hedge fund managers, I could realistically grow my wealth.
Will the EIA’s projections mean added woes for energy companies?
The EIA projects that most of the projected increases in future global petroleum consumption will occur in developing countries.
According to the EIA’s price forecasts, supply will stay strong through the first three quarters of 2015.
Crude prices started the week on a negative note by falling around 1% after fluctuating between gains and losses in the wake of the Greece elections.
Cushing crude stocks continued to rise for the eighth week in a row. Stocks increased by ~2.09 MMbbls to ~38.8 MMbbls in the week ended January 23.
Distillate inventories decreased by 3.9 MMbbls (million barrels) to 132.7 million barrels.
Last week, gasoline inventories decreased by 2.6 MMbbls (million barrels) to 238.3 MMbbls, while analysts were expecting an increase of ~500,000.
Although refinery inputs increased from last week’s low level, they still remained under 16 million barrels per day.
Crude inventory increased by 8.9 million barrels, whereas analysts had expected an increase of 3.85 million barrels.
Every week analysts anticipate an increase or decrease in crude inventories based on demand and supply expectations in that week.
The major thing to highlight in Energy Transfer Partners’ cash flow is the increasing amount of money it’s been distributing to unitholders over the years.
Over the years, while Energy Transfer Partners’ investing cash flows have been quite volatile, they’ve been strong enough to give us some confidence.
At a broader level, ~80% of analysts rate Energy Transfer Partners as “buy,” and ~20% rate it as “hold.” There are no “sell” recommendations on ETP.
ETP believes “significant value is embedded” within Energy Transfer Partners’ subsidiary interests in these companies.
Analysts expect Energy Transfer Partners to post good growth numbers in the years ahead. Its income statement is expected to double from 2013 levels.
Here, we’ll compare Energy Transfer Partners to its closest peers individually. This should give you a better idea of where it stands.
Energy Transfer Partners stands out for trading at a discount to its peers and very close to the broad market.
Energy Transfer Partners’ debt has exploded from ~$3.7 billion at the end of 2007 to ~$19 billion at the end of 3Q14.
Energy Transfer Partners’ enterprise value more than quadrupled between 2007 and 3Q14.
When we look at Energy Transfer Partners’ distributions, we find another reason to like the company.
In the first three quarters of 2013 alone, Energy Transfer Partners’ operating cash flows reached ~$2 billion.