RECENT MLPs RESEARCH
Most MLPs ended in the green last week, which ended on September 1, 2017, amid Hurricane Harvey and volatility in crude oil prices.
Midstream giant Kinder Morgan (KMI) rose 1% in the week ending September 1, 2017—broadly in line with the energy sector.
In this series, we’ll be looking at the institutional activity of some major MLPs during 2Q17 and their recent analyst recommendations.
How are the four biggest energy MLPs performing in the generally down MLP sector? How does their performance compare with others? Let’s take a look.
MLPs recovered slightly in the week ending August 25—possibly due to an overcorrection in the first three weeks of the month.
MLP (master limited partnership) weakness continued for the third-straight week of the month last week (ended August 18).
Enterprise Products Partners has fallen 7% YTD. So far, it has outperformed AMLP. Enterprise Products Partners has fallen nearly 9% in the past month.
Williams Companies (WMB), which entered positive territory at the end of July, couldn’t stay there for long. It has fallen 6.8% since the beginning of this year.
In this series, we’ll assess Western Gas Partners’ (WES) attractiveness. We’ll look into its valuation, institutional ownership, technical indicators, and analyst recommendations.
Pipeline projects in the US have attracted a lot of attention in recent years.
Energy Transfer Partners (ETP) announced a public offering of 54 million common units on August 14. ETE, which owns the IDRs (incentive distribution rights) in ETP, is expected to benefit from the equity offering.
On August 14, 2017, Calumet Specialty Products Partners (CLMT) announced that it has agreed to sell its Superior, Wisconsin, refinery for $435.0 million.
MLP sluggishness continued last week. The Alerian MLP Index, which tracks the performance of 50 energy infrastructure MLPs, ended the week 4.4% lower.
The British Columbian government’s decision to join the battle against KMI’s Trans Mountain expansion project contributed to the recent fall in the stock.
Cheniere Energy (LNG) and its subsidiaries reported their 2Q17 earnings on August 8, 2017. Cheniere Energy’s revenue rose to $1.2 billion from $176.8 million in 2Q16.
Plains All American Pipeline’s announcement of its need for a distribution reset—based solely on fee-based cash flows—sent jitters across the MLP sector.
Energy Transfer Equity (ETE) and its subsidiary, Energy Transfer Partners (ETP), reported their 2Q17 earnings on August 8, 2017, and held their earnings call the next day.
The week ending August 4, 2017, was busy for MLPs, as a large number of these publicly traded partnerships reported their 2Q17 earnings results during the week.
Plains All American Pipeline (PAA) announced its 2Q17 results on August 7, 2017, after the markets closed.
The Alerian MLP Index, a capital-weighted index that tracks the performance of 50 energy infrastructure MLPs, was weak in the week ending August 4.