Buckeye Partners LP
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.
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.
Enterprise Products Is Expected to Increase Distributions in 2015
Enterprise Products trades at a distribution yield of ~4.9%. One of the reasons for EPD’s relatively lower distribution yield might be its distribution coverage ratio.
Must-know: The BPL segments that source from liquid-rich areas
Traditionally, the Merchant Services segment provides wholesale distributor service of refined petroleum products in the U.S. and the Caribbean.
Why Energy Transfer Partners’ Earnings Are on the Rise
Energy Transfer Partners (ETP) reported adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) of $1.9 billion in 4Q17.
Should You Include Buckeye Partners in Your Portfolio?
Buckeye Partners’ (BPL) outlook looks positive from a long-term investment standpoint. At a broader level, ~54% of analysts rate Buckeye Partners as “hold.”
Behind ETP’s, EEP’s, BPL’s, and SUN’s High Yields
After a 6.3% fall on March 15, 2018, Energy Transfer Partners (ETP) is trading at a distribution yield of ~13.6%.
What Buckeye Partners’ Current Valuation Indicates
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.
What Do Analysts Recommend for NGL Energy Partners?
62.5% of analysts rate NGL Energy Partners a “buy,” 12.5% rate it as a “hold,” and the remaining 25.0% rate it as a “sell.”
Best-Performing MLPs in the Week Ended July 13
CVR Partners (UAN) rallied 9.7% in the week ended July 13, making it the top MLP gainer for the week.
ENLK, BPL, and CEQP: The Top MLP Gainers Last Week
EnLink Midstream Partners (ENLK) rose 7.7% last week. The stock has gained substantially since its strong second-quarter results.
UBS Group’s MLPI and MLPL Outperformed Energy ETFs Last Week
The ETRACS Alerian MLP Infrastructure Index ETN (MLPI) rose 5.3% in the week ended August 14. It closely tracks the Alerian MLP Infrastructure Index (AMZI), its underlying index.
Why the BORCO terminal acts as booster to Global Marine segment
BPL acquired the BORCO terminal facility in the Bahamas in 2011.
An investor’s guide to YMLI and its holdings, like Targa Resources
The Yorkville High Income Infrastructure MLP ETF (YMLI) launched in February 2013. Major constituents of YMLI include Sunoco Logistics Partners LP (SXL) and Western Gas Equity Partners LP (WGP).
Comparing Cheniere Energy Partners’ Yield with Its Peers’
Cheniere Energy Partners (CQP), Cheniere Energy’s MLP subsidiary, is currently trading at a distribution yield of 5.6%.
Key MLP and Midstream Rating Updates Last Week
On January 16, Barclays raised its rating for Williams Companies (WMB) from “equal weight” to “overweight.”
HCLP, BPL, SUN, and USAC: Are Analysts Cautious?
For Hi-Crush Partners (HCLP), one analyst rated the stock as a “strong buy,” nine rated it as a “buy,” and seven rated it as a “hold.”
Buckeye Partners Stock Could React to a Distribution Cut
Buckeye Partners’ 30-day implied volatility was 28.9% as of July 30—slightly below the 15-day average of 29.3%.
MLP Rating Update for the Week Ended July 27
Buckeye Partners (BPL) was downgraded by SunTrust Robinson Humphrey last week. It lowered BPL to a “sell” from a “hold.”
Top Energy Gainers Last Week
On July 6–13, upstream stock Sanchez Energy (SN) saw the highest gain on our list of energy stocks.
The Weakest MLPs in H1 2018
Dominion Midstream Energy Partners (DM), a midstream subsidiary of Dominion Energy (D), was the weakest MLP in the first half of 2018, falling 55%.
Should Investors Chase Buckeye Partners’ Monstrous Yield?
Buckeye Partners (BPL) was trading at a very high distribution yield of 14.6% on July 5.
Is Energy Transfer Partners Exploring a C Corporation Structure?
High leverage and a complex capital structure have been a drag on Energy Transfer Partners’ market performance.
Which Segment Could Drive Buckeye Partners’ Performance in 1Q18?
Domestic Pipelines & Terminals, which is Buckeye Partners’ (BPL) largest business segment, posted 9.7% year-over-year adjusted EBITDA growth in 4Q17.
A Look at Buckeye Partners’ Earnings Drivers in 1Q18
In this series, we’ll talk about Buckeye Partners’ (BPL) 1Q18 estimates, segment performance drivers, and distribution coverage.
BPL at Lows Seen during the Financial Crisis: Offers 39% Upside
Overall, Buckeye Partners has fallen 24.0% since the beginning of the year and has reached the levels it last saw in 2009 during the financial crisis.
Which MLPs Lost 10% or More Last Week?
Dominion Midstream Energy Partners (DM) and Spectra Energy Partners (SEP) were among the top three MLPs losses last week.
Analysts’ Views on High-Yield MLP Stocks
Of analysts surveyed by Reuters, 75% rated Energy Transfer Partners (ETP) as a “buy” and the remaining 25% rated it as a “hold.”
Can Plains All American Pipeline Regain Upward Momentum?
Plains All American Pipeline (PAA) fell below its short-term (50-day) and long-term (200d) moving averages.
Analyzing Institutional Investor Activity in ETP, EEP, BPL, SUN
The top ten institutional investors in Energy Transfer Partners (ETP) added 66.8 million ETP shares to their positions, according to the latest filings.
Comparing Short Interest in ETP, EEP, BPL, and SUN
Short interest represents the number of shares of a particular stock that have been shorted but haven’t yet been closed out.
ETP, EEP, BPL, and SUN: A Leverage Analysis
Energy Transfer Partners (ETP) had a huge debt, of more than $32 billion, at the end of 2017.
What’s behind Enbridge Energy Partners’ Attractive Yield?
With a yield of 11.1%, Enbridge Energy Partners (EEP) is trading at a yield close to Buckeye Partners (BPL).
What Are Buckeye Partners’ Current Expansion Plans?
BPL recently announced its plans to enter the prolific Permian Basin, where it plans to build a 600-mile haul pipeline.
MLPs Approach Their 52-Week Lows amid Crude Oil Price Weakness
MLPs have seen a series of major sell-offs due to significant weakness in crude oil prices. The Alerian MLP ETF (AMLP) has fallen 7.5% since the beginning of June 2017.
Which Midstream Stocks Have the Highest Implied Volatilities?
On January 23, EnLink Midstream had an implied volatility of 40.1%—the highest among the midstream companies in the Alerian MLP ETF (AMLP).
How Do MLPs Correlate with Crude Oil?
Outside of upstream MLPs, most other MLPs are generally affected when oil prices are low enough that drilling is curtailed and pipeline volumes are cut.
A Look into Genesis Energy’s Recent Operating Results
Offshore Pipeline Transportation became Genesis Energy’s (GEL) largest business segment after it acquired offshore pipeline assets from Enterprise Product Partners (EPD) in July 2015.
What Does NGL Energy’s Current Valuation Mean?
NGL Energy’s EV-to-adjusted EBITDA ratio, using its trailing-12-month adjusted EBITDA, is 12.0x.
Analyzing NuStar Energy’s 1Q16 EBITDA Estimates
NuStar Energy is expected to release its 1Q16 earnings on April 27. Wall Street analysts’ 1Q16 consensus EBITDA estimate for NuStar Energy is $144.3 million.
Analysis of Buckeye Partners’ Cash Flow Measures
Buckeye Partners’ capital expenditures for the first nine months of 2015 were ~$433.1 million. This is 43.9% higher than what it spent during the first nine months of 2014.
Key Analysis of Buckeye Partners’ Leverage Situation
Buckeye Partners borrowed ~$1.1 billion under its credit facility in the first nine months of 2015. It repaid ~$0.84 billion under the same facility.
Analysis of Buckeye Partners’ Recent Operating Performance
Buckeye Partners’ adjusted EBITDA from continuing operations increased to $204.2 million in 3Q15 from $200.6 million in 3Q14—a marginal increase of 1.2%.
Moving Average Indicates a Bearish Trend for Buckeye Partners
Buckeye Partners has lost 20.9% of its market value during the past year, out of which 15.6% has been lost this year. The recent decline in its stock price can be attributed to the huge decline in crude prices since the start of 2016.
Genesis Energy: Best Performing Midstream MLP on June 29
Genesis Energy (GEL) was the best performing midstream MLP at the end of trading on Monday, June 29. It rose 0.16% yesterday. It has performed well YTD.
IDRs: How Do They Impact MLPs?
IDRs entitle the GP to receive a higher percentage of incremental cash distributions after certain target distribution levels have been achieved for the LP unitholders.
Valuing MLPs: Price-to-Distributable Cash Flow Ratio
MLPs’ valuations are different from other stocks. To value MLPs, the widely used PE ratio isn’t as useful as the PDCF ratio.