DCP Midstream LP

Most Recent

  • An investor’s guide to Spectra Energy Corp. and its earnings
    Energy & Utilities

    An investor’s guide to Spectra Energy Corp. and its earnings

    Spectra Energy Corp. (SE), headquartered in Houston, Texas, owns and operates a large and diversified portfolio of natural gas–related assets in North America.

    By Keisha Bandz
  • uploads///
    Energy & Utilities

    Why some MLPs are benefitting from increased propane exports

    Significantly higher rates of propane exports have helped to boost propane prices—and the margins of some MLP names.

    By Ingrid Pan
  • uploads///SI
    Miscellaneous

    Which Midstream Stocks Led in Short Interest?

    As of August 29, 2016, EnLink Midstream (ENLC) had the highest short interest-to-equity float ratio among midstream stocks at 10.1%.

    By Rabindra Samanta
  • uploads///natural gas prices
    Macroeconomic Analysis

    How Last Week’s Rise in Natural Gas Prices Impacted MLPs

    Natural gas prices rose to close at $2.5 per MMBtu on October 9. Natural gas prices had hit a three-year low of $2.45 per MMBtu on October 2.

    By Rekha Khandelwal, CFA
  • uploads///anr
    Energy & Utilities

    What Wall Street Analysts Recommend for EnLink Midstream

    A total of 63.0% of analysts surveyed by Reuters have rated EnLink Midstream Partners (ENLK) as a “buy” as of June 28.

    By Kurt Gallon
  • uploads/// Mar Frac
    Energy & Utilities

    Why rising frac spreads are benefitting select MLP names

    Last week, frac spreads traded up slightly, and over the medium term, frac spreads are up significantly. This is a positive catalyst for natural gas processors.

    By Alex Chamberlin
  • uploads///Contracts
    Company & Industry Overviews

    Natural Gas Services, a Major Segment of DCP Midstream

    DCP Midstream’s Natural Gas Services segment provides natural gas gathering, compressing, treating, processing, transporting, and storing services.

    By Alex Chamberlin
  • uploads///Distribution Guidance v
    Earnings Report

    Why DCP Midstream Partners’ Coverage Ratio Could Increase

    DPM has substantial liquidity of $1.25 billion under its revolver credit facility. With a current debt-to-EBITDA ratio of 3.3x and a TTM coverage ratio of 1.1x, DPM has a cushion for raising fresh capital.

    By Kurt Gallon
  • uploads///
    Energy & Utilities

    Must-know: Frac spreads get boost from oil price spike

    Fractionation spreads got a boost last week with rising crude oil prices.

    By Ingrid Pan
  • uploads///Comps
    Company & Industry Overviews

    Where Does DCP Midstream Stand Compared to Its Peers?

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

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

    These MLPs Rose More than 6.0% in the Week Ended September 29

    Upstream MLPs EV Energy Partners (EVEP), Mid-Con Energy Partners (MCEP), and Legacy Reserves (LGCY) rose 17.6%, 13.7%, and 11.8%, respectively, in the week ended September 29.

    By Kurt Gallon
  • uploads///AMLP
    Macroeconomic Analysis

    AMLP Rose Last Week in a Good Week for Energy Stock ETFs

    AMLP gained almost as much as the VanEck Vectors Oil Services ETF (OIH) in the week ending August 14.

    By Keisha Bandz
  • uploads///Refiney assets
    Energy & Utilities

    Phillips 66: An overview

    In 2013, Phillips 66 generated 67%, 13%, and 6% of its revenues from the United States, the United Kingdom, and Germany, respectively. The company’s other foreign operations contributed ~16%.

    By Alex Chamberlin
  • uploads///operating margin
    Earnings Report

    This Segment Will Drive EnLink Midstream’s 4Q16 Results

    ENLK expects central Oklahoma region to become its largest operating region by the end of 2017.

    By Kurt Gallon
  • uploads///
    Energy & Utilities

    Higher propane prices help frac spreads and natural gas processors

    Frac spreads traded up slightly last week and have been relatively range-bound over the past several months.

    By Ingrid Pan
  • uploads///AdobeStock_
    Company & Industry Overviews

    Why Frac Spreads Affect Some MLP Stocks

    Companies in the natural gas processing space—many of which are MLPS—keep an eye on the fractionation or “frac” spread. Here’s why.

    By Sybil Prowse
  • uploads///AMLP
    Energy & Utilities

    The 10 MLPs Most Correlated with Crude Oil

    In this series, we’ll look at the ten MLPs most correlated with crude oil amid crude oil price volatility.

    By Kurt Gallon
  • uploads///Refiney assets
    Energy & Utilities

    Must-know: An introduction to Phillips 66

    Phillips 66 (PSX) is an energy company. It’s based in Texas. Phillips 66 started operating independently as a publicly-traded company on April 4, 2012, when it separated from ConocoPhillips (or COP).

    By Alex Chamberlin
  • uploads///crude oil supply
    Macroeconomic Analysis

    Expected Increases in Oil, Gas Production: A Positive for MLPs

    US drilling activity in February 2017 US drilling activity stayed strong in major shale plays in February 2017, driven by the slight recovery in commodity prices and the decline in drilling costs with the usage of efficient drilling methods. According to recent Baker Hughes (BKI) rig data, the US rig count rose for the seventh […]

    By Kurt Gallon
  • uploads///NGL Price
    Macroeconomic Analysis

    Natural Gas Liquids Prices Fall More than Oil and Gas Prices

    In this article, we’ll discuss how natural gas liquids prices have moved relative to crude oil and natural gas prices.

    By Alex Chamberlin
  • uploads///nspc
    Earnings Report

    Is EnLink Midstream Partners a ‘Buy’ before Its 3Q17 Earnings?

    For EnLink Midstream Partners, 56.3% of the analysts rate it as a “hold,” 37.5% rate it as a “buy,” and 6.3% rate it as a “sell” as of October 24, 2017.

    By Kurt Gallon
  • uploads///
    Energy & Utilities

    Why higher natural gas liquids prices help natural gas processors

    Fractionation spreads increased on the back of higher natural gas liquids prices, a positive for natural gas processor master limited partnerships.

    By Ingrid Pan
  • uploads///natural gas prices
    Macroeconomic Analysis

    Natural Gas Prices Fell Last Week: Impact on Energy MLPs

    Natural gas prices fell significantly after 2008. Since then, prices have generally remained low. This trend is expected to continue in the short term.

    By Rekha Khandelwal, CFA
  • uploads///Distribution
    Miscellaneous

    Why Crestwood Rallied Despite Distribution Cuts and Lower Guidance

    Crestwood Equity Partners announced a quarterly distribution of $0.6 per unit on April 21. This represents a 56% cut in quarterly distribution.

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

    How a Fall in Fractionation Spread Impacted MLPs

    The Henry Hub–Mont Belvieu fractionation spread fell to $8.10 per barrel in the week ended January 1, 2016. The spread was $10.60 per barrel in the previous week.

    By Rekha Khandelwal, CFA
  • uploads///MLPI MLPL returns
    Macroeconomic Analysis

    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.

    By Rekha Khandelwal, CFA
  • Energy & Utilities

    Why gas production and price impact midstream energy suppliers

    Generally, most of the midstream companies enter into contracts with the producers of natural gas, such as Chesapeake Energy (CHK) or Range Resources (RRC).

    By Alex Chamberlin
  • uploads///
    Energy & Utilities

    Will Enterprise Product Partners see a major pipeline buildout?

    EPD also recently put into service the Front Range NGL pipeline from the Rockies to North Texas and the Texas Express NGL pipeline from North Texas towards the Gulf Coast.

    By Alex Chamberlin
  • uploads///MLP
    Energy & Utilities

    Looking at Energy MLPs with Strong Growth Prospects

    The market sees energy MLPs as defensives due to their relatively higher yields. We’ll look at the energy MLPs with solid yields and robust capital gains.

    By Vineet Kulkarni
  • uploads///capital exp
    Company & Industry Overviews

    Kinder Morgan Expects Higher Capital Spending in 2019

    Kinder Morgan (KMI) spent $2.3 billion on growth projects in 2018. The company expects to spend $3.1 billion on capital projects in 2019.

    By Rekha Khandelwal, CFA
  • uploads///analysts ratings
    Energy & Utilities

    Key MLP and Midstream Rating Updates Last Week

    On January 16, Barclays raised its rating for Williams Companies (WMB) from “equal weight” to “overweight.”

    By Rekha Khandelwal, CFA
  • uploads///si
    Energy & Utilities

    Can Crestwood Equity Partners Gain Upward Momentum from Here?

    Crestwood Equity Partners (CEQP) was trading 4.0% above its 50-day SMA (simple moving average) and 22.0% above its 200-day SMA on July 13.

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

    Top MLP Losses in the Week Ending June 15

    Sprague Resources (SRLP) was the top MLP loss in the week ending June 15. Sprague Resources fell 8.9% last week.

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

    WES Increased 2018 Capital Guidance, DCP Announced New Projects

    In this article, we’ll look at the 2018 capital spending plans of the four selected peers.

    By Kurt Gallon
  • uploads///Value chain
    Company & Industry Overviews

    Who’s Protected from FERC’s Revised Income Tax Policy?

    Midstream companies such as Kinder Morgan (KMI), Targa Resource (TRGP), and ONEOK (OKE) are taxed as C-corps, so the revised policy doesn’t apply to them.

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

    What’s EPD’s Correlation with Natural Gas?

    In this article, we’ll look into the commodity price exposure of the MLP at the seventh spot, Enterprise Products Partners (EPD).

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

    Analyzing LGCY’s Correlation with Natural Gas

    Legacy Reserves (LGCY), an upstream MLP, is in the fourth spot in terms of its correlation with natural gas.

    By Kurt Gallon
  • uploads///Permian
    Earnings Report

    A Sneak Peek into Energy Transfer Partners’ 3Q17 Volumes

    According to the EIA, crude oil production in the Permian region rose 21.4% YoY (year-over-year) in 3Q17, while natural gas production grew 16.7% YoY.

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

    Energy Transfer Partners’ Legal Battles Continue

    Energy Transfer Partners and the midstream sector have been very weak since the beginning of August. The partnership has lost 10.7% in August.

    By Kurt Gallon
  • uploads///Loss
    Basic Materials

    These MLPs Fell More Than 7% Last Week

    EV Energy Partners (EVEP) was the worst-performing MLP last week. It fell a massive 20.9% during the week.

    By Kurt Gallon
  • uploads/// Week lows and highs
    Miscellaneous

    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.

    By Kurt Gallon
  • uploads///transportation segment volumes
    Company & Industry Overviews

    Analyzing the Performance of PAA’s Transportation Segment

    Plains All American Pipeline (PAA) expects its Transportation segment’s 2017 adjusted EBITDA to increase ~$174 million, or 15%, over 2016.

    By Rekha Khandelwal, CFA
  • uploads///NSPC
    Earnings Report

    What Does Crestwood Equity Partners’s Current Valuation Indicate?

    Crestwood Equity Partners (CEQP) stock fell 2.3% following its 4Q16 earnings announcement.

    By Kurt Gallon
  • uploads///EBITDA
    Earnings Report

    What Drove Crestwood Equity Partners’s 4Q16 EBITDA Growth?

    Crestwood Equity Partners (CEQP) reported its 4Q16 earnings on February 21, 2017. Its 4Q16 adjusted EBITDA increased to $125.6 million from $118.9 million in 4Q15, a year-over-year increase of 5.6%.

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

    Why Western Gas’s Capital Spending Could Recover in 2017

    Western Gas Partners’ (WES) growth capital spending started to decline at the beginning of the rout in energy prices.

    By Kurt Gallon
  • uploads///IPO
    Miscellaneous

    Recent Key Developments at Noble Energy: A Birth and a Split

    Noble Energy (NBL) announced the initial public offering of Noble Midstream Partners (NBLX) in early September 2016.

    By Keisha Bandz
  • uploads///Value Chain
    Macroeconomic Analysis

    A Look at the Midstream Energy Value Chain

    Liquids pipelines and terminaling MLPs, as the name suggests, are involved in crude oil, refined product, and NGLs (natural gas liquids) transportation and storage.

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

    Which Segment Will Drive DCP Midstream’s 3Q16 Performance?

    Natural Gas Services DCP Midstream Partners’ (DPM) Natural Gas Services segment mainly provides natural gas gathering, processing, compression, and transportation services. Natural Gas Services is DPM’s largest business segment. It alone accounted for 63.8% of DPM’s 2Q16 adjusted EBITDA (earnings before interest, tax, depreciation, and amortization). The segment’s 3Q16 earnings could be negatively impacted by […]

    By Kurt Gallon
  • uploads///largest north american energy infra co
    Miscellaneous

    Enbridge, Spectra Energy Merger Makes History

    On September 6, 2016, Enbridge (ENB) and Spectra Energy (SE) announced a stock-for-stock merger agreement, which values Spectra Energy common stock at $28 billion.

    By Rekha Khandelwal, CFA
  • uploads///segment data
    Company & Industry Overviews

    DCP Midstream’s Natural Gas Service Segment Is Facing Headwinds

    DPM’s Natural Gas Services segment mainly provides natural gas gathering, processing, compression, and transportation services.

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

    Which Segment Will Drive DCP Midstream’s 2Q16 Performance?

    DCP Midstream Partners’ (DPM) Natural Gas Services segment mainly provides natural gas gathering, processing, compression, and transportation services.

    By Kurt Gallon
  • uploads///Inst ownership
    Company & Industry Overviews

    NGL Energy’s Short Interest is on Par With the Industry Average

    NGL Energy’s (NGL) short interest as a percentage of float has moved dramatically since the beginning of 2016.

    By Kurt Gallon
  • uploads///Short Interest
    Company & Industry Overviews

    How Does NuStar Energy’s Short Ratio Compare?

    NuStar Energy’s (NS) short interest as a percentage of float, or short ratio, has changed dramatically since the beginning of 2016.

    By Kurt Gallon
  • uploads///rail roads
    Macroeconomic Analysis

    Record US Crude Oil Inventory Led to a New Storage Space

    The record US crude oil inventory led to the emergence of rail cars as the new storage space. Due to lower crude oil prices, many rail cars are idle.

    By Gordon Kristopher
  • uploads///ASPC
    Earnings Report

    Kinder Morgan Stock Rallied after 4Q15 Earnings

    Kinder Morgan’s (KMI) shares rallied as high as 17.9% during early trading on Thursday, following the 4Q15 earnings announcement.

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

    Kinder Morgan Reported a Loss of $0.29 per Share in 4Q15

    Kinder Morgan (KMI) reported its 4Q15 earnings on January 20, 2016. Its 4Q15 actual earnings per share fell to -$0.29 from $0.08 in 4Q14.

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

    Which Segment Will Drive Kinder Morgan’s 4Q15 Performance?

    Kinder Morgan’s Natural Gas Pipelines segment experienced a slight decline in 3Q15 EBDA, mainly due to lower natural gas prices affecting the segment’s midstream gathering and processing business.

    By Kurt Gallon
  • uploads///EPS Estimates
    Earnings Report

    Energy Prices and Weather Could Hurt Kinder Morgan’s 4Q15 Results

    Kinder Morgan’s 4Q15 EPS estimate is one of the lowest in comparison to estimates for the last 12 quarters.

    By Kurt Gallon
  • uploads///ebitda by segment
    Company & Industry Overviews

    Low Commodity Prices, Weak Canadian Dollar Drag SE’s Earnings

    SE carries out operations through four segments: Spectra Energy Partners, Distribution, Western Canada Transmission & Processing, and Field Services.

    By Rekha Khandelwal, CFA
  • uploads///fractionation spread
    Macroeconomic Analysis

    Fractionation Spread Rose after Falling for 3 Weeks in a Row

    The Henry Hub-Mont Belvieu fractionation spread rose to $11.2 per barrel in the week ending November 27. It was $10.3 per barrel in the previous week.

    By Rekha Khandelwal, CFA
  • uploads///natural gas prices
    Macroeconomic Analysis

    Natural Gas Prices Rose and Impacted MLPs

    NYMEX near-month Henry Hub natural gas futures contracts rose last week. Natural gas prices closed at $2.21 per MMBtu on November 27.

    By Rekha Khandelwal, CFA
  • uploads///natural gas prices
    Macroeconomic Analysis

    Falling Natural Gas Prices Continue to Impact Energy MLPs

    Natural gas prices closed at $2.14 per MMBtu (British thermal units in millions) on November 20 after closing the previous week at $2.36 per MMBtu.

    By Rekha Khandelwal, CFA
  • uploads///fractionation spread
    Macroeconomic Analysis

    Fractionation Spread Rose Last Week, Impacting Energy MLPs

    The Henry Hub-Mont Belvieu fractionation spread rose to $11.5 per barrel for the week ending October 30, 2015. The spread was $10.5 per barrel in the previous week.

    By Rekha Khandelwal, CFA
  • uploads///natural gas prices
    Macroeconomic Analysis

    Natural Gas Prices Rose Last Week: Impact on Energy MLPs

    Natural gas prices closed at $2.32 per MMBtu (British thermal units in millions) on October 30 after closing the previous week at $2.29 per MMBtu.

    By Rekha Khandelwal, CFA
  • uploads///ebitda versus consensus estimates
    Earnings Report

    Can Enbridge Energy Partners Match Its 3Q15 Earnings Estimates?

    Analysts expect that Enbridge Energy Partners’ 3Q15 EBITDA will be more than triple the 2Q15 EBITDA and 18% higher than its 3Q14 EBITDA.

    By Rekha Khandelwal, CFA
  • uploads///Dividend per share
    Earnings Report

    Kinder Morgan Lowered Its 2016 Dividend Guidance

    Kinder Morgan is expected to meet its 2015 dividend guidance of $2 per share. This would represent a 15% year-over-year growth over 2014 by the end of 2015.

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

    Which Segments Drove Kinder Morgan’s 3Q15 Performance?

    Kinder Morgan’s 3Q15 performance may have suffered due to poor performance from its CO2, Natural Gas Pipelines, and Kinder Morgan Canada segments.

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

    How Will KMI’s Commodity Price Exposure Affect 3Q15 Performance?

    Kinder Morgan (KMI) operates like a toll road or a fee-based business with limited commodity price exposure.

    By Kurt Gallon
  • uploads///EBDA Breakdown
    Earnings Report

    Which Segment Will Drive Kinder Morgan’s 3Q15 Performance?

    Natural Gas Pipelines is Kinder Morgan’s largest business segment in terms of EBDA. In 2Q15, the segment alone accounted for 54% of the company’s total EBDA.

    By Kurt Gallon
  • uploads///broker recommendations midcoast energy
    Company & Industry Overviews

    More than Half of Analysts Surveyed Rate Midcoast Energy a ‘Hold’

    Of the analysts surveyed by Bloomberg, 22% rate Midcoast Energy Partners (MEP) a “buy,” and 56% rate it a “hold.” About 22% rate it a “sell.” Its consensus target price is $13.40.

    By Rekha Khandelwal, CFA
  • uploads///meps distributable cash flows
    Company & Industry Overviews

    Midcoast Energy’s Distributable Cash Flows Are Growing

    Midcoast Energy Partners’ (MEP) distributable cash flows increased in 2Q15 compared to 1Q15 and 2Q14. Its distributable cash flows have shown a rising trend since listing.

    By Rekha Khandelwal, CFA
  • uploads///year to date returns for mepoks
    Company & Industry Overviews

    Midcoast Energy’s Year-to-Date Returns Exceed Industry Average

    Midcoast Energy Partners’ (MEP) year-to-date total returns are -12.2%. It gathers, processes, transports, and markets natural gas and NGLs (natural gas liquids).

    By Rekha Khandelwal, CFA
  • uploads///natural gas prices
    Macroeconomic Analysis

    How Did a Rise in Natural Gas Prices Impact Energy MLPs Last Week?

    NYMEX near-month Henry Hub natural gas futures contracts rose last week compared to the previous week. Natural gas prices closed at $2.69 per MMBtu on September 11.

    By Rekha Khandelwal, CFA
  • uploads///fractionation spread
    Macroeconomic Analysis

    How Last Week’s Rise in the Fractionation Spread Affects MLPs

    The Henry Hub–Mont Belvieu fractionation spread rose to $7.54 per barrel for the week ending August 21, 2015.

    By Rekha Khandelwal, CFA
  • uploads///Weekly AMLP yr treasury yield spread
    Macroeconomic Analysis

    10-Year Treasury and MLP Yields Diverged Last Week

    The Alerian MLP ETF (AMLP) traded at a yield of 8.3% at the end of the week ending August 21. The yield rose during the week from 8.00% at the end of the previous week.

    By Rekha Khandelwal, CFA
  • uploads///Distribution per unit
    Earnings Report

    Energy Transfer Partners: Outlook for the 2nd Half of 2015

    Energy Transfer Equity (ETE), which hold the incentive distribution rights in Energy Transfer Partners, is currently trading at a distribution yield of 3.69%.

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

    Which Segments Drove Williams Partners’ 2Q15 Performance?

    The Atlantic Gulf is Williams Partners’ (WPZ) largest business segment in terms of adjusted EBITDA. In 2Q15, it accounted for 39% of the company’s total EBITDA.

    By Kurt Gallon
  • uploads///natural gas prices
    Macroeconomic Analysis

    Last Week’s Rise in Natural Gas Prices: What It Means for MLPs

    The benchmark Henry Hub natural gas prices rose to $2.80 per MMBtu for the week ending August 7. Natural gas generates power for cooling purposes.

    By Rekha Khandelwal, CFA
  • uploads///EPDs ngl pipelines and services segments ebitda
    Earnings Report

    How Did EPD’s NGL Pipelines and Services Segment Perform in 2Q15?

    Enterprise Products Partners (EPD) carries out its operations through five reportable segments. NGL Pipelines and Services is the MLP’s biggest segment.

    By Rekha Khandelwal, CFA
  • uploads///natural gas liquids spot prices
    Macroeconomic Analysis

    Why the Natural Gas-NGL Price Spread Impacts Energy MLPs

    Natural gas processing MLPs typically benefit when the price of NGLs is high relative to natural gas.

    By Rekha Khandelwal, CFA
  • uploads///targa resources corp structure
    Company & Industry Overviews

    Targa Resources: A Midstream Energy MLP

    Targa Resources Partners is a midstream energy MLP formed in 2006. The company is expanding its operations into gathering crude oil and transporting petroleum products.

    By Rekha Khandelwal, CFA
  • uploads///Segment Breakdown
    Earnings Report

    NGL Logistics Segment Drove DPM’s Performance in 1Q15

    NGL Logistics was DPM’s top-performing segment in 1Q15. The segment’s adjusted EBITDA increased by 129.4% in 1Q15 QoQ, driven by an increase in NGL pipeline throughput volumes.

    By Kurt Gallon
  • uploads///How Dropdown works
    Company & Industry Overviews

    How Do Master Limited Partnerships Grow?

    MLPs normally pay out all the available cash to the unit holders in the form of quarterly cash distribution. They hold only the maintenance capital expenditure.

    By Victor Cheng
  • uploads///Comps
    Company & Industry Overviews

    How Does DCP Midstream’s Valuation Compare to Its Peers?

    DCP Midstream’s valuation when compared to its peers shows DCP Midstream’s projected EV-EBITDA multiple of 10.4 is at par with its peers’ average.

    By Alex Chamberlin
  • uploads///Drop down
    Company & Industry Overviews

    Enbridge Energy Partners Looks to Dropdown Growth Opportunities

    Enbridge Energy Partners (EEP) expects to benefit from significant dropdown opportunities presented by its general partner.

    By Alex Chamberlin
  • uploads///NGL price
    Company & Industry Overviews

    What Else Impacts DCP Midstream’s Natural Gas Services?

    DCP Midstream’s natural gas and energy infrastructure business is affected by the relationship between commodities such as NGLs and natural gas.

    By Alex Chamberlin
  • uploads///Key Shales
    Company & Industry Overviews

    What Factors Drive DCP Midstream’s Natural Gas Business?

    Natural gas volume and price are the primary factors that affect DCP Midstream’s natural gas business.

    By Alex Chamberlin
  • uploads///NGL Logistics asset
    Company & Industry Overviews

    An Overview of DCP Midstream’s NGL Logistics Segment

    DCP Midstream’s NGL Logistics segment transports NGLs from processing plants to fractionation facilities, petrochemical plants, and third-party storage facilities.

    By Alex Chamberlin
  • uploads///Asset Map
    Company & Industry Overviews

    DCP Midstream Partners and Its Three Operating Segments

    Unit price for DCP Midstream decreased 24% in the past year. The fall is particularly sharp since the end of October when its unit price crashed 32%.

    By Alex Chamberlin
  • uploads///Terminals and Storage asset overview
    Company & Industry Overviews

    An Overview of Sunoco’s Terminals Facilities

    Sunoco’s terminals facilities business operates crude oil, refined products, and natural gas liquids (or NGL) terminals.

    By Alex Chamberlin
  • uploads///SW processed volumes
    Earnings Report

    MarkWest Energy’s operating income grows in Marcellus and Utica

    The Marcellus segment reported operating income of $139.9 million, which is 56.4% higher than the prior year’s operating income of $89.5 million.

    By Keisha Bandz
  • uploads///Consensus Revenues
    Earnings Report

    Spectra Energy 4Q14 earnings beat estimates

    Spectra Energy 4Q14 adjusted earnings beat estimates by 46%. On average, adjusted EPS has exceeded consensus EPS by ~9% in the past ten quarters.

    By Alex Chamberlin
  • uploads///Ethane price from
    Energy & Utilities

    Ethane production and its effects on natural gas processors

    With attractive NGL pricing relative to naphtha refinery streams, the feedstock percentage of NGLs has been increasing, with ethane taking a disproportionate share of the total.

    By Alex Chamberlin
  • uploads///
    Energy & Utilities

    How MLPs profit from natural gas gathering and processing

    Natural gas gathering and processing are a significant part of the operations of many midstream master limited partnerships.

    By Ingrid Pan
  • uploads///
    Energy & Utilities

    Why master limited partnerships rely on external capital

    Master limited partnerships are a specially structure entity, and they don’t pay corporate-level taxes. This tax benefit allows MLPs to be valued at a higher multiple.

    By Ingrid Pan
  • uploads///
    Financials

    Why did Boardwalk Pipeline Partners cut its distribution?

    To give some brief context, Boardwalk Pipeline Partners is a master limited partnership, a special type of entity exempt from corporate taxes.

    By Ingrid Pan
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