The US earnings season has begun for midstream energy companies. On April 18, 2018, Kinder Morgan (KMI) announced its first-quarter results.
In this series, we’ll look at the top ten midstream companies based on their earnings growth expectations for the first quarter of 2018. Their earnings may not be comparable due to the different sizes of the midstream companies. In this series, we’ll look at earnings growth drivers, distribution growth expectations, valuations, and analysts’ recommendations for our ten midstream companies.
Based on earnings growth expectations, the top ten midstream companies in 1Q18 include the following:
- Noble Midstream Partners (NBLX)
- MPLX (MPLX)
- Phillips 66 Partners (PSXP)
- Antero Midstream Partners (AM)
- Andeavor Logistics (ANDX)
- Energy Transfer Partners (ETP)
- Genesis Energy (GEL)
- Cheniere Energy (LNG)
- Valero Energy Partners (VLP)
- Oneok (OKE)
Energy Transfer Partners, MPLX, Andeavor Logistics, Phillips 66 Partners, Antero Midstream Partners, and Genesis Energy are among the constituents of the Alerian MLP ETF (AMLP). ETP, MPLX, PSXP, AM, and GEL together form 25.9% of AMLP, which is expected to have strong average earnings in the first quarter of 2018.
Let’s start by looking at the earnings growth expectations for Noble Midstream Partners in 1Q18.