Kurt Gallon

Until recently, Genesis Energy’s Offshore Pipeline segment owned interest in ~1200 miles of offshore pipelines spread across five pipeline systems.

Sunoco Logistics has the lowest profit margin and ROE among its peers. Its profit margin and ROE of 1.6% and 1.7%, respectively, are well below the group average.

There are four methods of investing in MLPs. The MLP funds’ market cap reached $54 billion as of April 30, 2014. The number of MLP-focused funds reached 49.

Chesapeake Energy (CHK) opened 50% lower in yesterday’s early trading on the rumor that the company is working with advisors to pursue bankruptcy.

Most MLPs operate in the midstream energy industry. They’re mainly involved in gathering, processing, storing, and transporting energy commodities.

Sanchez Midstream Partners was the top MLP gainer in the week ending April 6, 2018. Sanchez Midstream Partners rallied 16.4%.

Hurricane Harvey hit the US Gulf Coast last week. The US Gulf Coast is a major destination for US refineries and energy infrastructure.

The pipeline segment is NuStar’s largest business segment in terms of the EBITDA. It accounted for 50% of the total segment EBITDA in the first nine months of 2015.

Energy Transfer Equity (ETE) recently went below its 50-day simple moving average driven by the decline in the last two trading sessions of last week.

SXL has remained bullish on its NGL growth story, which has been supported by strong NGL supply growth from the liquids-rich Marcellus and Utica Shales.

Currently, 78% of the analysts surveyed by Reuters rate Cheniere Energy as a “buy” as of March 22, 2018, while the remaining 22% rate it as a “hold.”

Calumet Specialty Products Partners (CLMT) was the top-performing MLP (master limited partnership) last week (ended August 18).

Four of the top MLP losers last week were marine transportation MLPs, including GMLP, CPLP, KNOP, and NAP.

The correlation between Cheniere Energy’s stock price and crude oil (USO) resulted in a correlation coefficient of 0.87 during the past year.

Among MLP funds, ETFs were the top performers in terms of total returns in April, while ETNs were the bottom performers.

MLPs’ sluggishness continued last week despite strong crude oil. The Alerian MLP Index (^AMZ), which tracks the performance of 50 energy MLPs, fell 1.2% last week.

Among MLP funds, exchange-traded notes fell the most while the exchange-traded funds declined the least.

Navios Maritime Midstream Partners (NAP) was the highest MLP gainer in the week ending October 13. It rose 11.4% during the week.

Antero Midstream Partners fell 6% last year. However, it had a strong start to the new year. It has risen 6.8% in 2018.

DCP Midstream Partners (DPM) has an enterprise value of $2.7 billion.

MLP-focused funds underperformed the SPDR S&P 500 ETF (SPY) in the recent quarter.

In this series, we’ll look at the MLPs that have the highest correlations with natural gas amid the volatility in natural gas prices.

Rose Rock Midstream (RRMS) was the top loser among midstream MLPs at the end of trading on Tuesday, August 25. It fell 4.71% in a single trading session.

MEMP’s earnings improved in the recent quarter, but prior shortfalls were high and couldn’t be covered without a restructuring under Chapter 11 bankruptcy.

MLPs recovered slightly in the week ending August 25—possibly due to an overcorrection in the first three weeks of the month.

Among MLP funds, ETNs are top performers in terms of total returns, while the closed-end funds are the bottom performers.

On October 31, 2017, Buckeye Partners (BPL) was trading at a price-to-distributable-cash-flow multiple of 10.4x, which is significantly below the historical ten-quarter average of 13.8x.

Plains All American Pipeline (PAA) was the biggest MLP loser last week, which ended on January 19, 2018. The partnership ended the week 6.1% lower.

MLPs went through some carnage last week. The Alerian MLP Index (^AMZ), which tracks the performance of 50 energy MLPs, saw a new 52-week low of 258.45.

Energy Transfer Partners remains optimistic about its recently announced projects despite the rise in global trade tensions.

On November 26, 2014, Kinder Morgan acquired all of its equity interests in Kinder Morgan Partners, El Paso, and Kinder Morgan Management.

Of the total 95 MLPs, 62 ended last week in the red, 30 ended in the green, and the remaining three ended flat. Energy Transfer Partners (ETP) fell 5.5%.

About 78.0% of analysts rate Williams Companies (WMB) a “buy,” while the remaining 22.0% rate it a “hold” as of August 21, 2017.

In this series, we’ll look at the historical outliers in midstream energy, which have generated massive wealth amid turbulent times.

ETP operates primarily through its six business segments by leveraging its huge asset base.

Devon Energy (DVN) continues to trade below its short-term (50-day) moving average.

So far in this series, we’ve looked at institutional investments in five major oil-weighted E&P (exploration and production) stocks: ConocoPhillips (COP), EOG Resources (EOG), Occidental Petroleum (OXY), Anadarko Petroleum (APC), and Pioneer Natural Resources (PXD).

CVR Refining (CVRR), a downstream MLP involved in crude oil refining, was the top MLP gainer last week. CVR Refining rose 17.1%.

High leverage and a complex capital structure have been a drag on Energy Transfer Partners’ market performance.

AMLP has seen a net outflow of $467.8 million over the past one-month period ended March 16, 2018.

MLPs underperformed the energy sector and the broader US markets last week. Let’s take a look.

Cheniere Energy is trading 4.4% above its 50-day simple moving average and 18.0% above its 200-day simple moving average.

USA Compression Partners (USAC), a midstream MLP involved in natural gas contract compression services, was the top MLP gainer last week with WoW (week-over-week) gains of 7.8%.

MLPs (master limited partnerships) cooled off last week, which ended on January 19, after two weeks of a strong rally.

Cheniere Energy’s (LNG) 30-day implied volatility was 27.9% on January 18, 2018, which is slightly higher than its 15-day average of 27.8%.

Cheniere Energy’s subsidiary, Cheniere Marketing, recently entered into a long-term SPA (sale and purchase agreement) with Trafigura.

Williams Partners (WPZ) expects its 2017 distributable cash flow to lie between $2.6 and $2.8 billion. At the midpoint, this range represents a ~9.0% YoY (year-over-year) decline.

Energy Transfer Partners (ETP) had a strong start to the year with a rise of ~6.5% in 2018 YTD (year-to-date).

MLPs maintained their winning streak in the second week of 2018. The Alerian MLP Index (^AMZ) rose 4.6% last week and ended at 300.5.

Williams Companies (WMB) has had a massive start to the year. It’s risen nearly 9% in seven trading sessions in 2018. Overall, the C corporation GP (general partner) has risen ~14% since the start of December 2017.