First Trust North American Energy Infrastructure Fund
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.
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.
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.”
Why Was Greater Propane Demand Unable to Push Prices?
US residential propane demand is 1.5 MMbpd for the week ended December 4. This was 0.24 MMbpd more than the demand in the week ended November 27.
Overview: ONEOK Partners’ natural gas pipelines segment
ONEOK Partners’ (OKS) natural gas pipelines segment owns and operates regulated interstate and intrastate natural gas pipelines and natural gas storage facilities.
EMLP Outperformed AMLP: What Investors Should Know
The Alerian MLP ETF (AMLP) and the First Trust North American Energy Infrastructure Fund (EMLP) are two of the largest MLP ETFs.
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.
US Propane Inventories Up, Residential Prices Down versus 2014
In the week ended October 9, 2015, US propane inventories rose by 1.8 MMbbls (million barrels) to 102.2 MMbbls.
The story behind the Canadian giant—TransCanada Corp.
TransCanada Corporation (TRP) is based in Canada. It’s one of North America’s leading natural gas pipeline network owners. TransCanada also provides natural gas storage services.
US Propane Inventories Rose in Week Ending August 28
Propane production is outstripping demand by a considerable margin. This explains the steady build in propane inventories.
Propane Inventories off the Chart: Prices Fell ~8% Last Week
In the week ended August 21, US propane inventories rose by 1.9 MMbbls (million barrels) to 95.7 MMbbls.
An introduction to TransCanada Corp.
TransCanada Corp. (TRP) is an energy infrastructure company. It owns a network of natural gas and crude pipelines across North America. TransCanada also provides natural gas storage.
TC PipeLines—TransCanada’s important subsidiary
TC PipeLines LP (TCP) is a master limited partnership (or MLP) that owns or has ownership in six interstate natural gas pipelines. TransCanada Corp. (TRP) owns ~28.9% equity interest in TCP.
US Propane Inventories Slow in Some Regions, Weekly Prices Up
In the week ended September 11, US propane inventories rose 1.1 MMbbls to 97.7 MMbbls. These levels are 20.3 MMbbls greater, or 26.2% higher, than they were in the corresponding period last year.
US Propane Inventories and Prices Rise in Week Ended September 4
In the week ended September 4, US propane inventories rose 0.2 MMbbls to 96.6 MMbbls. These levels are 20.5 MMbbls greater, or 27% higher, than they were in the corresponding period last year.
Overview: Regency Energy Partners
Regency Energy Partners L.P. (RGP) is a midstream operator of natural gas pipelines, gathering systems, and processing facilities.
Should You Include Kinder Morgan in Your Portfolio?
We’ll look at what Wall Street analysts recommend for Kinder Morgan (KMI). At a broader level, ~52.6% of analysts rate Kinder Morgan a “buy,” ~42.1% rate it a “hold,” and ~5.3% rate it a “sell.”
Propane Stocks Continued Skyward in Week Ended August 14
US propane production fell from 1.651 MMbpd (million barrels per day) in the week ended August 7 to ~1.620 MMbpd in the week ended August 14.
US Propane Inventories Rise along with Weekly Prices
In the week ended October 30, 2015, US propane inventories rose by 0.8 MMbbls to 102.4 MMbbls. This is 27.8% greater than in the corresponding period last year.
Must-know: Why ONEOK restructured its business, creating ONE Gas
Earlier this year, ONEOK (OKE) created a new stand-alone publicly traded company called ONE Gas (OGS), separating its natural gas distribution business into a separate dedicated company. The company believes that by having two separate companies, each of the companies will have a greater focus on its individual strategy, financial strength, and growth potential.
Growth oriented acquisitions: Good for RGP’s distribution growth
On April 28, Regency announced a cash distribution of 48 cents or $0.48 per outstanding common unit for the first quarter ended March 31, 2014.
Overview: ONEOK Partners’ natural gas liquids segment
ONEOK Partners’ (OKS) natural gas liquids segment provides natural gas liquid gathering, fractionation, transportation, marketing, and storage services to its producers.
Overview: Plains All American Pipeline’s gas storage services
PAA’s storage facility falls under its supply and logistics segment, which is primarily a margin based segment, which makes it more volatile.
A closer look at the difference between ETFs and mutual funds
Before moving to inverse and leveraged ETFs in the next part of this series, we’d like to quickly discuss the differences between ETFs and mutual funds.
Why the Energy Transfer and Targa merger talk ended for now
Leading up to the rumor of the possible acquisition, the share prices of NGLS and TRGP jumped up by 17.7% and 20.4% on June 19, respectively.
Overview: Magellan Midstream Partners L.P.
Magellan Midstream Partners L.P. (MMP), is a master limited partnership (or MLP) that owns and operates a diversified portfolio of energy infrastructure assets.
Top MLP Funds Recorded Net Inflows in October
The top MLP funds saw net inflows in October. The Alerian MLP ETF (AMLP) had net inflows of $105.7 million for the month.
Enbridge’s Top Institutional Investors
Capital International Investors is the largest institutional investor in Enbridge stock. The company holds 5.3% of Enbridge’s outstanding shares.
Fund Flows into Top MLP ETFs Fell in the Third Quarter
Fund flows into top MLP ETFs fell significantly in the third quarter.
Top MLP ETFs: Analyzing Fund Flows in 1Q18
The top five MLP ETFs recorded a net outflow of $285 million in 1Q18. The Alerian MLP ETF (AMLP) had a net outflow of $558 million.
EMLP Generated the Highest Total Returns among the Top MLP ETFs
The First Trust North American Energy Infrastructure Fund (EMLP) generated total returns of 42% over a five-year period, the highest among the top five MLP ETFs that we are discussing in this series.
Take a Look at Fund Flows in MLP ETFs Last Week
After three weeks of negative flows, the Alerian MLP ETF (AMLP) witnessed a net inflow of $5.6 million for the week ended June 23, 2017.
Analyzing Fund Flows into MLP ETFs Last Week
The Alerian MLP ETF (AMLP), a top MLP ETF, witnessed a net outflow of $9.5 million for the week ending June 16, 2017.
NOOA Forecasts Mild Weather, but Will Propane Demand Slide Further?
US residential propane demand was at 1.03 MMbpd for the week ending January 15. Propane demand was 0.39 MMbpd less than the prior week’s demand.
Market Dynamics Impact Plains All American’s Supply and Logistics Segment
The contribution of its Supply and Logistics segment to Plains All American Pipeline’s EBITDA fell from 27% in 3Q14 to 19% in 3Q15.
Propane Inventories and Production Moved in Opposite Directions
As of the week ended December 11, propane inventories were at 98.9 MMbbls. These levels were 26.2% more than they were in the corresponding period last year.
Must-Know: How Spectra Energy Partners’ Segments Are Performing
Spectra Energy Partners manages its business through its US Transmission and Liquids segments. Its US Transmission segment contributes nearly 85% of EBITDA.
Key Drivers of Spectra Energy’s Stock Price
One factor impacting Spectra Energy’s stock price is the value of the Canadian dollar. Nearly 60% of SE’s 2014 revenues came from its Canadian operations.
ONEOK Partners Reports Distribution Coverage Missed 2Q15 Target
Generally, MLPs with stable earnings target a distribution coverage ratio in the range of 1 to 1.1 times the distributable cash flow.
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.
Crude Oil Inventories in the Second Week of August Affect MLPs
According to data released on August 19, US crude oil inventories rose 0.6% in the week ending August 14 compared to the previous week.
What Investors Need to Know about MLPs
MLPs are engaged in the production, transportation, storage, and processing of natural resources like oil, natural gas, and NGLs. They’re public companies.
Key update on propane inventories – prices are lower and steadier
In the week ending February 13, US propane inventories decreased by 3.5 MMbbls to 61.5 MMbbls. They were ~130% than the same period last year.
Phillips 66 Partners: The Sweeny to Pasadena products system
The Sweeny to Pasadena products system is strategically located to transport petroleum products from Texas to major third-party interstate pipeline systems.
Phillips 66 Partners: The Clifton Ridge crude system
The Clifton Ridge crude system is made up of three pipelines and two terminals. It supports the Lake Charles refinery in Westlake, Louisiana.
Must-know: Plains All American Pipeline’s segment-wise earnings
This article discusses Plains All American Pipeline, L.P.’s (PAA) profits by segment—transportation, facilities, and supply and logistics. For the transportation segment, adjusted segment profit was $229 million—~37% higher YoY (or year-over-year)—and approximately $24 million above the midpoint of PAA’s guidance.
Overview: Key difference between ETFs and mutual funds
While actively managed ETFs are more expensive than passively managed ETFs, they tend to be less expensive than mutual funds due to structural differences between these two products. In the case of mutual funds, the investor interacts with the company while buying and selling mutual fund units.