Several midstream stocks hit their respective 52-week lows in the last five days. Crude oil prices took a hit yesterday amid concerns over trade talks.
Last week (ended July 5), midstream stock EnLink Midstream LLC (ENLC) outperformed the energy space. Here’s a summary of midstream stocks’ performance.
EnLink Midstream Partners’ (ENLK) adjusted EBITDA rose to $243.7 million in 1Q18 from $211.2 million in 1Q17, a YoY (year-over-year) increase of 15.4%.
Summit Midstream Partners (SMLP), a midstream MLP mainly involved in crude oil gathering and processing and crude oil gathering, was the biggest MLP loser last week.
EnLink Midstream, the general partner of EnLink Midstream Partners (ENLK), ranks fifth among midstream companies in terms of the correlation with crude oil.
CVR Refining (CVRR), a downstream MLP involved in crude oil refining and refined products marketing, saw ratings updates and target price revisions from Barclays and UBS last week.
EnLink Midstream Partners (ENLK) continues to expand its processing capacity in the Delaware and STACK regions with the announcement of new processing plants in both regions.
EnLink Midstream Partners (ENLK) and EnLink Midstream (ENLC) reported their 3Q17 earnings on October 31, 2017. ENLK’s adjusted EBITDA rose to $216.8 million from $197.5 million in 3Q16.
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.
Hi-Crush Partners So far in this series, we’ve looked at the four MLPs with the highest correlation with crude oil: EnLink Midstream (ENLC), DCP Midstream (DCP), Mid-Con Energy Partners (MCEP), and Plains GP Holdings (PAGP). In this article, we’ll look at the commodity price exposure of the MLP with the fifth-highest correlation, Hi-Crush Partners (HCLP). The frac […]
DCP Midstream DCP Midstream (DCP) has the second-highest correlation with crude oil, after EnLink Midstream (ENLC). The one-year correlation between DCP and crude oil was 0.51 on October 6, 2017. DCP Midstream’s high correlation with crude oil reflects its high direct commodity price exposure, mainly through its natural gas processing and NGL (natural gas liquid) business. The […]
ENLC’s correlation with crude oil EnLink Midstream LLC (ENLC), EnLink Midstream Partners’ (ENLK) general partner, has the highest correlation with crude oil among all active MLPs. EnLink Midstream Partners, which owns most of the EnLink franchise, is also among MLPs with the highest correlation with crude oil. ENLC’s one-year correlation with crude oil was 0.52 as of […]
Currently, 53.0% of the analysts rate EnLink Midstream Partners as a “hold,” 41.0% rate it as a “buy,” and 6.0% rate it as a “sell” as of September 26.
EnLink Midstream Partners (ENLK) declared a flat distribution of $0.39 per unit for 2Q17. It was the seventh consecutive quarter with a flat distribution.
Energy Transfer Partners (ETP) announced a public offering of 54 million common units on August 14. ETE, which owns the IDRs (incentive distribution rights) in ETP, is expected to benefit from the equity offering.
EnLink Midstream Partners (ENLK) and its GP (general partner), EnLink Midstream (ENLC), are scheduled to release their 2Q17 earnings on August 1, 2017.
Antero Midstream GP (AMGP) recently completed its IPO (initial public offering). AMGP gives investors a second option to invest in the high-distribution-growth Antero Midstream Partners (AM).
In this article, we’ll look at analysts’ recommendations for the four equities under review in this series. Let’s start with Energy Transfer Equity (ETE).
Recent institutional activity in Energy Transfer Equity, Plains GP Holdings, Western Gas Equity Partners, and EnLink Midstream LLC shows buying of 36.5 million, 29.3 million, 2.6 million, and 3.5 million shares.
Short interest in EnLink Midstream LLC (ENLC) as a percentage of its float is the highest among its peers. ENLC’s 8.9% is followed by Energy Transfer Equity’s (ETE) 7.1%.
The distribution growths of midstream MLPs are directly linked to their distributable cash flow growths. MLPs grow their distributable cash flows via both organic and inorganic expansions.
Western Gas Equity Partners (WGP) has the lowest distribution yield among its peers at 4.5%. This low yield can be attributed to its strong historical distribution growth and robust guidance.
Plains GP Holdings, which holds a majority interest in Plains All American Pipeline, posted positive YoY (year-over-year) net profit growth in its most recent quarter.
Plains GP Holdings (PAGP) announced a distribution cut in 3Q16. Based on this distribution cut, PAGP declared a distribution of $0.55 per unit for 1Q17, an 11.3% fall YoY (year-over-year).
Western Gas Equity Partners (WGP) has been outperforming its selected peers since the beginning of 2017. The partnership has risen 3.2% YTD (year-to-date).
In this series, we’ll perform a comparative analysis of four MLPs’ general partners: Energy Transfer Equity, Plains GP Holdings, Western Gas Equity Partners, and EnLink Midstream LLC.
On April 26, 2017, EnLink Midstream Partners (ENLC) had a short interest-to-equity float ratio of 10.7%. It was the highest among midstream stocks in AMLP.
EnLink Midstream Partners (ENLK) is scheduled to release its 1Q17 earnings on May 2, 2017. In this series, we’ll explore ENLK’s 1Q17 estimates, key performance indicators, and analyst recommendations.
On April 19, 2017, EnLink Midstream Partners (ENLC) had a short interest-to-equity float ratio of 10.7%—the highest among the midstream stocks in AMLP.
On April 13, 2017, EnLink Midstream Partners’ implied volatility rose 2.2%, while the stock fell 1.8%. The company will report its 1Q17 earnings on May 2.
On April 4, EnLink Midstream (ENLC) had a short-interest-to-equity float ratio of 10.7%—the highest among the midstream stocks in the Alerian MLP ETF (AMLP).
On March 20, 2017, EnLink Midstream Partners (ENLC) had a short-interest-to-equity float ratio of 10.7%, the highest among the midstream stocks in the Alerian MLP ETF (AMLP).
On March 13, EnLink Midstream had a short-interest-to-equity float ratio of 10.1%—the highest among the midstream stocks in the Alerian MLP ETF (AMLP).
Energy Transfer Equity (ETE) currently trades at a price-to-distributable cash flow of 17.1x. This is low compared to its ten-quarter average of 19.8x.
On February 27, EnLink Midstream Partners had a short interest-to-equity float ratio of 10.1%—the highest among all of the midstream companies in AMLP.
EnLink Midstream Partners has risen 135.3% in the past year. It has the highest implied volatility of all the midstream companies that make up the Alerian MLP ETF.
EnLink Midstream Partners (ENLC) has a short interest-to-equity float ratio of 10.1%, the highest among all of the midstream companies in the Alerian MLP ETF (AMLP).
