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Kurt Gallon

Disclosure: I am in full compliance with all ethics and other policies for Market Realist research analysts. I am not invested in securities that I cover on Market Realist.

More From Kurt Gallon

  • An Overview of Genesis Energy’s Offshore Pipeline Segment
    Company & Industry Overviews

    An Overview of Genesis Energy’s Offshore Pipeline Segment

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

    By Kurt Gallon
  • Why Sunoco Logistics Has the Lowest Profit Margins
    Company & Industry Overviews

    Why Sunoco Logistics Has the Lowest Profit Margins

    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.

    By Kurt Gallon
  • Genesis Energy’s Segment Margin Breakdown by Segment
    Company & Industry Overviews

    Genesis Energy’s Segment Margin Breakdown by Segment

    A segment margin breakdown of Genesis Energy’s Onshore Transport, Offshore Transport, Marine Transport, Refinery Services, and Supply and Logistics segments.

    By Kurt Gallon
  • 4 Methods of Investing in MLPs
    Company & Industry Overviews

    4 Methods of Investing in MLPs

    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.

    By Kurt Gallon
  • Chesapeake Bankruptcy Rumors Take a Toll on Williams Companies
    Macroeconomic Analysis

    Chesapeake Bankruptcy Rumors Take a Toll on Williams Companies

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

    By Kurt Gallon
  • MLPs: How They Operate in the Midstream Energy Industry
    Company & Industry Overviews

    MLPs: How They Operate in the Midstream Energy Industry

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

    By Kurt Gallon
  • uploads///Gains
    Energy & Utilities

    Top MLP Gainers in the Week Ending April 6

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

    By Kurt Gallon
  • uploads///NGLS
    Company & Industry Overviews

    Why Sunoco Logistics Remains Bullish on Natural Gas Liquids

    Sunoco Logistics Partners (SXL) Mariner NGL (natural gas liquids) systems have not performed according to expectations in recent quarters.

    By Kurt Gallon
  • uploads///NSPC
    Energy & Utilities

    Why Chesapeake Energy’s Correlation with Crude Oil Has Increased

    The three-month correlation between Chesapeake Energy (CHK) and crude oil was 0.53 as of August 27.

    By Kurt Gallon
  • uploads///hurricane harvey
    Company & Industry Overviews

    Hurricane Harvey Impacted Energy MLPs

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

    By Kurt Gallon
  • uploads///leverage
    Company & Industry Overviews

    Why Western Gas’s Strong Balance Sheet Position Is a Major Plus

    Western Gas’s outstanding debt Western Gas Partners (WES) ended 2Q17 with a total outstanding debt of $3.2 billion, which was 5.2% higher than its debt at the end of 2016. The slight increase in the partnership’s outstanding debt could be attributed to a recent increase in capital spending and acquisitions. How Western Gas’s debt compares Western Gas […]

    By Kurt Gallon
  • uploads///Broker Estimates
    Company & Industry Overviews

    What Do Wall Street Analysts Say About ETP in 2015?

    About 57% of analysts rate Energy Transfer Partners as “buy,” and ~43% rate it as “hold.”

    By Kurt Gallon
  • uploads///val
    Energy & Utilities

    What Does Energy Transfer Equity’s Current Valuation Suggest?

    Energy Transfer Equity (ETE) was trading at a price-to-distributable cash flow of 17.9x as of December 22, 2017, which is slightly below the last ten-quarter average of 18.0x.

    By Kurt Gallon
  • uploads///distribution growth
    Earnings Report

    When Will Energy Transfer Partners Resume Distribution Growth?

    Energy Transfer Partners (ETP) declared a distribution of $1.06 per unit in 2Q16. This represented a 1.9% YoY rise compared to 2Q15.

    By Kurt Gallon
  • uploads///val
    Energy & Utilities

    What WMB’s Current Valuation Tells Us

    Williams Companies (WMB) was trading at an EV-to- EBITDA multiple of 11.0x on November 15, 2017.

    By Kurt Gallon
  • uploads///NSPC
    Company & Industry Overviews

    Why Buckeye Partners Is Outperforming Its Peers in 2017

    In this series, we’ll do a comparative analysis of four MLPs that provide crude oil and refined products transportation and terminaling services.

    By Kurt Gallon
  • uploads///ANR
    Company & Industry Overviews

    Analysts’ Ratings: APC Wins the Most ‘Buy’ Recommendations

    Among the four upstream companies we’re looking at in this series, Anadarko Petroleum (APC) has received the most “buy” (82.9%) recommendations from analysts covering the stock.

    By Kurt Gallon
  • uploads///NSPC
    Earnings Report

    What Boardwalk Pipeline’s Valuation Indicates ahead of 3Q Results

    Boardwalk Pipeline Partners has risen 30.3% since the beginning of 2016. At the same time, the Alerian MLP ETF has risen 4.0%.

    By Kurt Gallon
  • uploads///dcf
    Earnings Report

    How BPL Could Continue to Cover Its Distribution in 4Q16

    Buckeye Partners (BPL) is expected to grow its distribution at the fixed rate of $0.0125 per unit in 4Q16.

    By Kurt Gallon
  • uploads///crude oil mine _
    Company & Industry Overviews

    Marathon Oil Has Risen ~27% in 2018

    Marathon Oil (MRO) has seen a strong rally in the past month. The company has risen ~15% from its lows of $19 in August.

    By Kurt Gallon
  • uploads///yield
    Miscellaneous

    Energy Transfer Equity’s 7% Distribution Yield Looks Attractive

    Energy Transfer Equity (ETE) was trading at a distribution yield of 6.9% as of July 11. Recently, Energy Transfer Equity’s stock price increased.

    By Kurt Gallon
  • uploads///AMLP Yield
    Company & Industry Overviews

    Why Treasury, MLP Yield Spread Fell Last Week

    Generally, MLP yields move in the same direction as Treasury yields in the long term. MLP yields trade at a spread over Treasuries.

    By Kurt Gallon
  • uploads///ANR
    Company & Industry Overviews

    Wall Street Analyst Ratings: TRGP’s ‘Buys’ and OKE ‘Holds’

    Targa Resources (TRGP) has the most “buy” among the four peers we’re analyzing in this series.

    By Kurt Gallon
  • uploads///Comps
    Company & Industry Overviews

    Why EQT Midstream Trades at a Premium to Its Peers

    EQT Midstream (EQM) is the second-largest company according to EV (enterprise value) in the peer group described in this part.

    By Kurt Gallon
  • uploads///MLP yield
    Energy & Utilities

    10-Year Treasury-MLP Yield Spread Rose: Here’s Why

    The Alerian MLP ETF (AMLP) was trading at a yield of 8.9% at the end of the week ending July 1, 2016.

    By Kurt Gallon
  • uploads///sma
    Miscellaneous

    Cheniere Energy’s Shares Look Strong

    Currently, Cheniere Energy is trading 3.4% above its 50-day simple moving average and 13.2% above its 200-day simple moving average.

    By Kurt Gallon
  • uploads///NSPC
    Company & Industry Overviews

    Legacy Reserves Has Announced a $300 Million Term Loan

    Legacy Reserves’ (LGCY) shares rallied 27.2% on Wednesday, following its announcement that it has executed a second lien term loan credit agreement with GSO Capital Partners.

    By Kurt Gallon
  • uploads///Price to DCF
    Company & Industry Overviews

    What Does NuStar Energy’s Current Valuation Say?

    NuStar Energy’s undervaluation relative to its own historical valuation might indicate a buying opportunity.

    By Kurt Gallon
  • uploads///EBITDA breakdown
    Earnings Report

    Pipeline Segment Will Drive NuStar Energy’s 4Q15 Performance

    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.

    By Kurt Gallon
  • uploads///alaska _
    Earnings Report

    ETP Beat Analysts’ Estimate, Posted 28.2% Earnings Growth

    Energy Transfer Partners (ETP) and Energy Transfer Equity (ETE) announced their second-quarter earnings on August 8 after the market closed.

    By Kurt Gallon
  • uploads///ANR
    Earnings Report

    What Analysts Recommend for EnLink Midstream after 3Q16 Earnings

    At a broader level, 52.9% of analysts rate EnLink Midstream Partners (ENLK) a “hold,” 41.2% rate it a “buy,” and the remaining 5.9% rate it a “sell.”

    By Kurt Gallon
  • uploads///leverage
    Company & Industry Overviews

    EnLink Midstream’s Leverage Situation: Key Analysis

    EnLink Midstream Partners (ENLK) ended 2Q16 with total outstanding debt of $3.3 billion, which is 8.4% higher than the debt outstanding by the end of 2015.

    By Kurt Gallon
  • uploads///top gainers
    Miscellaneous

    These Were the Top-Performing MLPs in April 2017

    Sunoco (SUN), an MLP involved in wholesale and retail distribution and marketing of refined products, was the top gainer among MLPs in April 2017.

    By Kurt Gallon
  • uploads///IV
    Miscellaneous

    Will Energy Transfer Equity Build on Last Week’s Gains This Week?

    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.

    By Kurt Gallon
  • uploads///val
    Company & Industry Overviews

    Is Williams Companies a ‘Buy’ at Current Price Levels?

    Williams Companies’ forward EV-to-EBITDA multiple was 11.7x as of July 18, 2017—below the historical five-year average of 13.2x.

    By Kurt Gallon
  • uploads///WTI Brent spread
    Macroeconomic Analysis

    The WTI-Brent Spread Narrowed in the Week Ending July 29

    NYMEX (New York Mercantile Exchange) near-month WTI (West Texas Intermediate) crude oil (USO) futures prices fell by 5.9% in the week ending July 29, 2016.

    By Kurt Gallon
  • uploads///si
    Company & Industry Overviews

    Why Short Interest in ETE Could Mean Bearish Sentiment

    Short interest in Energy Transfer Equity (ETE) as percentage of its float ratio has risen to 7.4%.

    By Kurt Gallon
  • uploads///Adjusted EPS vs
    Earnings Report

    Why Kinder Morgan’s 2Q15 Earnings per Share Estimate Is Low Again

    Kinder Morgan (KMI) beat analysts’ 1Q15 earnings per share estimate, but Wall Street lowered its 2Q15 estimate to $0.191 compared to $0.216 in 1Q15. That’s a decrease of 11.6%.

    By Kurt Gallon
  • uploads///leverage
    Company & Industry Overviews

    How Does DCP Midstream’s Leverage Situation Look?

    DCP Midstream Partners (DPM) ended 2Q16 with a total outstanding debt of $2.4 billion, which is 1.9% lower than its debt in the previous quarter.

    By Kurt Gallon
  • uploads///andx
    Earnings Report

    What Drove Andeavor Logistics’ Strong Earnings Growth in 1Q18?

    Andeavor Logistics (ANDX), a midstream MLP subsidiary of Andeavor (ANDV), reported adjusted EBITDA of $273 million in 1Q18.

    By Kurt Gallon
  • uploads///Ethane prices
    Macroeconomic Analysis

    How Last Week’s Rise in Ethane Prices Affected MLPs

    Mont Belvieu ethane prices rose 4.4% to $0.21 per gallon in the week ending June 3, 2016.

    By Kurt Gallon
  • uploads///val
    Company & Industry Overviews

    WMB’s Trading below Historical Levels: Reading the Clues

    Williams Companies’ current EV-to-adjusted-EBITDA is below the past-eight-quarter average of 14.8x.

    By Kurt Gallon
  • uploads///IV
    Earnings Report

    Inside ENLK’s Implied Volatility before the 3Q16 Earnings

    ENLK’s current implied volatility is 40.2%—3.3% higher than its 15-day average of 38.9% but much lower than the 100.0% it reached at the beginning of 2016.

    By Kurt Gallon
  • uploads///stock performance
    Company & Industry Overviews

    How Has NuStar Energy’s Stock Performed So Far in 2016?

    NuStar Energy (NS) has gained 25.9% YTD (year-to-date) despite touching multiyear lows in the beginning of 2016.

    By Kurt Gallon
  • uploads///NSPC
    Company & Industry Overviews

    Antero Midstream’s Commodity Price Exposure: Key for Investors

    The earnings of midstream companies, including small ones such as Antero Midstream Partners, are believed to not have much direct commodity price exposure.

    By Kurt Gallon
  • uploads///ANR
    Company & Industry Overviews

    What Analysts Recommend for Summit Midstream Partners

    50.0% of analysts rate Summit Midstream a “buy,” 40.0% rate it a “hold,” and the remaining 10.0% rate it a “sell.”

    By Kurt Gallon
  • uploads///leverage
    Earnings Report

    What to Look for in Boardwalk Pipeline’s 4Q16 Earnings

    Boardwalk Pipeline’s net-debt-to-adjusted EBITDA multiple stood at 4.5x at the end of 3Q16.

    By Kurt Gallon
  • uploads///NSPC
    Company & Industry Overviews

    How Dividend Increase Could Affect Williams Companies Stock

    Williams Companies (WMB) opened ~2% higher on Tuesday, February 21, 2017, after it announced a 50% increase in dividends from $0.20 per share to $0.30 per share.

    By Kurt Gallon
  • uploads///iv
    Miscellaneous

    How Energy Transfer Equity Could Trade in the Next 7 Days

    Energy Transfer Equity’s implied volatility Energy Transfer Equity’s (ETE) 30-day implied volatility was 29.6% on March 9, 2018, significantly lower than its 15-day average of 32.3%. At the same time, peers Kinder Morgan (KMI) and Williams Companies (WMB) had implied volatility of 21.0% and 20.5%, respectively, and the Alerian MLP ETF (AMLP) had implied volatility of 21.3%. […]

    By Kurt Gallon
  • uploads///EBITDA estimates
    Earnings Report

    Boardwalk Pipeline’s 1Q16 Earnings: What Do Analysts Expect?

    Boardwalk Pipeline’s 1Q16 earnings release is scheduled for May 2. Wall Street analysts’ consensus 1Q16 EBITDA estimate for Boardwalk Pipeline is $215 million.

    By Kurt Gallon
  • uploads///Yield spread
    Macroeconomic Analysis

    Inside the MLP Yield Spread and 10-Year Treasury Yields: Key Investor Data

    The Alerian MLP ETF was trading at a yield of 11.4% at the end of the week ending March 25, 2016. The yield rose from 10.7% at the end of the previous week.

    By Kurt Gallon
  • uploads///stock performance
    Company & Industry Overviews

    How Rice Midstream’s Stock Has Performed So Far in 2016

    Rice Midstream Partners, Rice Energy’s natural gas and water service, has gained 45.6% YTD, despite touching multiyear lows early in 2016.

    By Kurt Gallon
  • uploads///nspc
    Earnings Report

    Why Cheniere Energy Is Weak ahead of 2Q17 Earnings

    Cheniere Energy (LNG) had a weak month in July. It fell a huge 7.2%, and the weakness continues in August.

    By Kurt Gallon
  • uploads///nspc
    Energy & Utilities

    What Dragged Down MLPs Last Week?

    MLP sluggishness continued last week. The Alerian MLP Index, which tracks the performance of 50 energy infrastructure MLPs, ended the week 4.4% lower.

    By Kurt Gallon
  • uploads///Gainers
    Macroeconomic Analysis

    Spectra Energy Partners Rallies Due to a Rise in 3Q15 Distribution

    Spectra Energy Partners declared a distribution per unit of $0.62 in a press release published on October 19. This is a 1.3% rise compared to 2Q15.

    By Kurt Gallon
  • uploads///si
    Earnings Report

    What Cheniere’s Indicators Suggest ahead of Its 1Q18 Results

    Cheniere Energy (LNG) recently crossed above its short-term 50-day moving average, indicating bullish sentiments in the stock.

    By Kurt Gallon
  • uploads///Ethane prices
    Macroeconomic Analysis

    Ethane Prices Continue to Rally: How It Impacted MLPs

    Ethane prices rallied for the second consecutive week ending April 15. Mont Belvieu ethane prices rose 11.3% to $0.20 per gallon in the same week.

    By Kurt Gallon
  • uploads///IV
    Energy & Utilities

    Where Williams Companies Could Trade in the Next 7 Days

    Williams Companies is expected to trade at $29.18–$30.78 in the next seven days based on its closing price of $29.98 on September 27.

    By Kurt Gallon
  • uploads///WTI Bren
    Energy & Utilities

    WTI-Brent Spread Widened Last Week: Which Rose More?

    NYMEX near-month WTI (West Texas Intermediate) crude oil futures prices rose 2.8% in the week ending July 1, 2016.

    By Kurt Gallon
  • uploads///Gains
    Energy & Utilities

    Which MLPs Rose More than 6% Last Week?

    Seadrill Partners (SDLP), the MLP involved mainly in offshore drilling, continued to be among the top MLP gainers for the second consecutive week.

    By Kurt Gallon
  • uploads///Gainer
    Energy & Utilities

    Top E&P Gainers for the Week That Ended on August 24

    California Resources (CRC) was the top E&P (exploration and production) gainer in the week that ended on August 24, with a week-over-week rise of 22.2%.

    By Kurt Gallon
  • uploads///CQP
    Earnings Report

    Cheniere Energy Partners: Fourth among MLPs for Earnings Growth

    Cheniere Energy Partners (CQP), the MLP subsidiary of Cheniere Energy (LNG), has experienced huge earnings growth in recent quarters.

    By Kurt Gallon
  • uploads///Comps
    Company & Industry Overviews

    Where Does Sunoco Logistics Stand Compared to Its Peers?

    Sunoco Logistics (SXL) has the lowest operating margin of 5.4% among the selected peer group. This is because SXL’s crude oil acquisition and marketing business has very thin operating margins.

    By Kurt Gallon
  • uploads///net withdrawals
    Macroeconomic Analysis

    How Changing Energy Demand Impacts MLPs’ Throughput Volumes

    US natural gas demand is expected to rise in the coming years, driven by increased consumption by power utilities, industries, and liquefied natural gas exports.

    By Kurt Gallon
  • uploads///Liquid Transportation
    Earnings Report

    Energy Transfer Partners’ Key Segments to Watch in 1Q15

    The Liquids Transportation and Storage segment was Energy Transfer Partners’ best performing segment in the last quarter.

    By Kurt Gallon
  • uploads///NSPC
    Earnings Report

    ETE and ETP: What Do Analysts Recommend Post-1Q16?

    In this article, we’ll look analyst ratings for Energy Transfer Equity (ETE) and Energy Transfer Partners (ETP) after the release of their 1Q16 data.

    By Kurt Gallon
  • uploads///marcellus cost
    Company & Industry Overviews

    How Falling D&C Costs in Marcellus Affect RMP, AM, EQM, and CNNX

    The D&C (drilling and completion) costs for the Marcellus Shale and the Utica Shale have declined in recent years.

    By Kurt Gallon
  • uploads///si
    Energy & Utilities

    Can Enbridge Energy Partners Gain Upward Momentum from Here?

    Enbridge Energy Partners (EEP) came close to its short-term 50-day SMA (simple moving average) during last week’s gain.

    By Kurt Gallon
  • uploads///price to dcf
    Company & Industry Overviews

    What Does EQT Midstream Partners’ Current Valuation Indicate?

    EQT Midstream Partners (EQM) is trading at a significant discount to its historical levels, driven by the recent weakness.

    By Kurt Gallon
  • uploads///capex
    Company & Industry Overviews

    A Look into EQT Midstream Partners’ 2017 Capex Plans

    EQT Midstream’s 2017 capex guidance In this article, we’ll look at EQT Midstream Partners’ (EQM) capex plans for 2017. The partnership expects to spend between $500 million and $850 million on growth projects in 2017. The midpoint of its 2017 capex guidance is slightly higher than the current forecast for 2016. EQM’s capital expenditure is […]

    By Kurt Gallon
  • uploads///ETFs
    Macroeconomic Analysis

    Memorial Production Partners: Top Upstream Gainer on September 17

    The top upstream MLP gainers include Memorial Production Partners (MEMP), Eagle Rock Energy Partners, Mid-Con Energy Partners, and Legacy Reserves.

    By Kurt Gallon
  • uploads///Crude oil and natural gas forecast
    Earnings Report

    Why Watch Kinder Morgan’s Commodity Price Exposure in 2Q15?

    Kinder Morgan operates like a toll road or fee-based business with limited commodity price exposure. About 85% of KMI’s 2015 budgeted EBDA is fee-based, and 94% is fee-based or hedged.

    By Kurt Gallon
  • uploads///price to dcf
    Earnings Report

    What Does Buckeye Partners Valuation Indicate?

    Buckeye Partners was trading at a price-to-distributable cash flow of 11.1x as of January 31, which is below the average of 13.8x in the last ten quarters.

    By Kurt Gallon
  • uploads///Organic Expansion Capital
    Earnings Report

    Why Sunoco Logistics Revised Its 2015 Capital Expenditure Targets

    Sunoco Logistics (SXL) will share the proportionate capital expenditure in the Bakken Pipeline project. This led SXL to revise its capital expenditure for 2015.

    By Kurt Gallon
  • uploads///Analyst Recommendation
    Earnings Report

    Should You Include EQT Midstream Partners in Your Portfolio?

    Here, we’ll look at what Wall Street analysts recommend for EQT Midstream Partners (EQM). Around 90.9% of analysts rate EQT Midstream a “buy.”

    By Kurt Gallon
  • uploads///Analyst Ratings
    Earnings Report

    Analyst Ratings for NuStar Energy

    The median broker target price of $44 for NuStar Energy implies a ~36.0% price return in the next 12 months from its February 3, 2016, closing price of $33.50.

    By Kurt Gallon
  • uploads///SXL EBITDA estimates
    Earnings Report

    Expansion Projects Might Drive Sunoco Logistics’ 4Q15 EBITDA

    Wall Street analysts’ 4Q15 consensus EBITDA estimate for SXL is ~$305.8 million. Sunoco’s 4Q15 estimate is 29% more than the reported 4Q14 adjusted EBITDA.

    By Kurt Gallon
  • uploads///Losers
    Macroeconomic Analysis

    Targa Resources Partners: Top Midstream Loser on July 30

    Targa Resources Partners (NGLS) was the top loser among midstream MLPs at the end of trading on Thursday, July 30. It fell 4.13% yesterday.

    By Kurt Gallon
  • uploads///NSPC
    Earnings Report

    How Buckeye Partners Plans to Finance the VTTI Acquisition

    Buckeye Partners’ public offering Buckeye Partners (BPL) plans to finance its VTTI deal with an equity offering. In a press release published on October 24, the partnership announced a public offering of 7.8 million common units. The offering units are priced at $66.05 per unit. BPL’s share closed at $70.60 on the day of the […]

    By Kurt Gallon
  • uploads///ANR
    Earnings Report

    What Analysts Recommend for DCP Midstream Ahead of 2Q16 Results

    In this article, we’ll look at what Wall Street analysts recommend for DCP Midstream Partners (DPM).

    By Kurt Gallon
  • uploads///si
    Earnings Report

    What WES’s Technical Indicators Suggest ahead of 2Q17 Earnings

    Western Gas Partners (WES) rose above its 50-day moving average as a result of its recent rally, which might indicate a bullish sentiment in the stock.

    By Kurt Gallon
  • uploads///Analyst Ratings
    Earnings Report

    What Do Analysts Recommend for NGL Energy?

    ~50% of analysts rate NGL Energy a “hold,” ~40% rate it a “buy,” and the remaining ~10% rate it a “sell.”

    By Kurt Gallon
  • uploads///net debt to EBITDA
    Earnings Report

    What to Notice in ETE’s and ETP’s 4Q17 Results

    ETP ended 3Q17 with total outstanding debt of $34.3 billion, which represents a 4.3% increase compared to its total debt by the end of 2016.

    By Kurt Gallon
  • uploads///Distribution Guidance
    Miscellaneous

    Distribution Yield Might Fall for MarkWest Unitholders

    Currently, MarkWest Energy and MPLX trade at distribution yields of 5.33% and 2.95%, respectively—compared to pre-merger announcement yields.

    By Kurt Gallon
  • uploads///val
    Company & Industry Overviews

    What COP’s, EOG’s, OXY’s, and APC’s Current Valuation Indicates

    Anadarko Petroleum (APC) has the lowest forward price-to-CFFO multiple among the selected peers, of 4.9x, which is below its historical average of 7.6x.

    By Kurt Gallon
  • uploads///nspc
    Miscellaneous

    After Energy Transfer Equity’s Rally, What’s Next?

    Energy Transfer Equity (ETE) recovered slightly last week, after a major crash one week previously, rising 5.5% by Friday, May 12.

    By Kurt Gallon
  • uploads///WPZ
    Company & Industry Overviews

    Are Institutional Investors Bullish on Williams Partners?

    The number of institutional holders in Williams Partners (WPZ), the midstream MLP subsidiary of Williams Companies (WMB), increased to 355 by the end of the fourth quarter compared to 340 in the previous quarter.

    By Kurt Gallon
  • uploads///leverage
    Company & Industry Overviews

    Why High Leverage Is No Longer a Concern for Crestwood Equity

    Crestwood Equity Partners (CEQP) ended 2Q16 with total outstanding debt of $3.7 billion, 20.7% lower than its total debt outstanding at the end of 2015.

    By Kurt Gallon
  • uploads///MoM change
    Miscellaneous

    MLPs Continue to Slip after Weak April 2017

    MLPs saw a huge decline in prices during the first week of May driven by the sharp decline in crude oil prices.

    By Kurt Gallon
  • uploads///EPD Distributions
    Company & Industry Overviews

    Evaluating MLPs Performance – Distribution Growth and DCF

    Distribution growth is the cornerstone of MLP investing because it provides a hedge against inflation. Its preserves the investment’s purchasing power.

    By Kurt Gallon
  • uploads///ANR
    Company & Industry Overviews

    Analysts’ Recommendations for EQT Midstream Partners

    The median target price of $95 for EQT Midstream implies a 26.1% price return in the next 12 months from its June 24, 2016, closing price of $75.4.

    By Kurt Gallon
  • uploads///Frac spread
    Macroeconomic Analysis

    Key for Investors: The Fractionation Spread Rose Last Week

    The Henry Hub–Mont Belvieu fractionation spread rose to $13.0 per barrel in the week ending May 13, 2016. The spread was $12.4 per barrel in the previous week.

    By Kurt Gallon
  • uploads///ETP Revenue Estimates
    Earnings Report

    Energy Transfer Partners Missed 3Q15 Revenue and EBITDA Estimates

    After a 16.8% beat in 2Q15, Energy Transfer Partners missed analysts’ consensus 3Q15 estimate for its revenue by a huge margin of 35.1%.

    By Kurt Gallon
  • uploads///WMB EV to EBITDA
    Company & Industry Overviews

    Why Williams Companies’ Valuation Has Been on the Rise

    Williams Companies’ forward EV-EBITDA multiple, which is based on the current fiscal quarter’s EBITDA estimates, is 13.1x.

    By Kurt Gallon
  • uploads///APC
    Earnings Report

    Anadarko Petroleum Ranks Seventh in Terms of Cash Flow Growth

    In this article, we’ll look into the cash flow growth expectations of Anadarko Petroleum (APC).

    By Kurt Gallon
  • uploads///ASPC
    Company & Industry Overviews

    What Are Analysts’ Thoughts on Vanguard Natural Resources?

    Considering its high leverage and unhedged volumes, Vanguard Natural Resources’ short-term outlook seems bleak.

    By Kurt Gallon
  • uploads///segment ebitda
    Earnings Report

    What to Expect from Energy Transfer Partners in Q2 2018

    The Crude Oil Transportation and Services segment was Energy Transfer Partners’ (ETP) top performing segment in the first quarter.

    By Kurt Gallon
  • uploads///WTI Midland WTI Cushing Spread
    Energy & Utilities

    WTI Spreads Widened Last Week: Does It Impact MLPs?

    The WTI Cushing-WTI Midland spread widened in the week ending June 15—compared to the previous week.

    By Kurt Gallon
  • uploads///Price to DCF
    Company & Industry Overviews

    What Does Buckeye Partners’ Current Valuation Indicate?

    Until now, we’ve analyzed Buckeye Partners’ (BPL) operating performance, leverage position, and cash flow measures.

    By Kurt Gallon
  • uploads///ANR
    Earnings Report

    What Analysts Expect of ETP, ETE, and SXL after Their Q2 Earnings

    In this article, we’ll look at what Wall Street analysts recommend for Energy Transfer Group’s three major MLPs after their 2Q16 earnings announcements.

    By Kurt Gallon
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