EnLink Midstream Partners LP
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.
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 […]
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.
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.
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.”
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.
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.
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.
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.
What Does ENLK’s Current Valuation Indicate?
EnLink Midstream Partners (ENLK) was trading at a forward EV-to-EBITDA multiple of 11.2x as of July 27.
How EnLink Midstream Partners Fared in 4Q17
EnLink Midstream Partners’ (ENLK) adjusted EBITDA rose to $238.7 million in 4Q17 compared to $194.7 million in 4Q16, a year-over-year rise of 22.6%.
Where Could EnLink Midstream Partners Trade?
EnLink Midstream Partners might trade at $15.79–$16.97 in the next seven days based on its closing price of $16.38 on September 26.
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.
MLPs Are Still a Top Income Investment Option
Yields for MLPs have come down in recent quarters, driven by the slight recovery of investor confidence in the energy sector.
What Will Drive Western Gas Partners’ 2Q17 Earnings?
Wall Street analysts’ 2Q17 consensus EBITDA (earnings before interest, taxes, depreciation, and amortization) estimate for WES is $258.1 million.
A Look at Enable Midstream’s Implied Volatility
Enable Midstream Partners’ (ENBL) implied volatility has fallen significantly after rising to more than 100.0% at the beginning of 2016.
Analyst Ratings: It’s Raining Upgrades for DCP Midstream
Of the analysts covering DCP Midstream, 67% rate it as a “hold,” 22% rate it as a “buy,” and the remaining 11% rate it as a “sell.”
Western Gas Partners Earns ‘Buy’ Ratings from 53% of Analysts
Analysts’ ratings for Western Gas Partners Of the analysts covering Western Gas Partners (WES), 53.0% recommend “buy,” 42% recommend “hold,” and 5.0% recommend “sell” as of August 17, 2017. WES had no “sell” ratings until it was downgraded from “neutral” to “underperform” by Bank of America Merrill Lynch in February 2017. Overall, the partnership has […]
Last Week’s MLP Ratings Updates
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.
Kinder Morgan Cuts Dividends by 75%
Kinder Morgan (KMI), the midstream energy giant, announced a ~75% quarterly dividend cut in its annual outlook release for 2016 on Tuesday.
Midstream MLPs: Who Were the Worst Performers on June 25?
Enbridge Energy Partners (EEP) was the worst performing stock among midstream MLPs at the end of trading on Thursday, June 25. It fell 2.5% yesterday.
EnLink Midstream’s Commodity Price Exposure: Key for Investors
The earnings of midstream companies, including small ones such as EnLink Midstream Partners, are believed to not have much direct commodity price exposure.
Downstream MLPs among Top MLP Gainers Last Week
US downstream MLPs, including Calumet Specialty Products Partners (CLMT), Alon USA Partners (ALDW), and CVR Refining (CVRR), were among the top five MLP gainers last week.
Where Does DCP Midstream Stand Compared to Its Peers?
DCP Midstream Partners (DPM) has an enterprise value of $2.7 billion.
These MLPs Rose More Than 9% in Week Ended January 5
CVR Partners (UAN) was the top MLP gainer last week, which ended on January 5, 2018. It rose 23.2%.
What Do Analysts Recommend for Kinder Morgan?
Currently, ~52.6% of analysts rate Kinder Morgan a “buy,” ~42.1% rate it a “hold,” and ~5.3% rate it a “sell.”
Energy Transfer Partners, Sunoco Logistics Announced Stake Sale
Energy Transfer Partners and Sunoco Logistics Partners both surged by 8.4% in the two trading sessions following their 2Q16 earnings announcements.
Top MLP Losses in the Week Ending June 8
In the week ending June 8, Viper Energy Partners continued to be among the top MLP losses for the second consecutive week.
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.
What Analysts Recommend for Williams Partners
On a broad level, 53.9% of analysts rate Williams Partners as a “buy” and the remaining 46.2% rate it as a “hold.” The MLP has no sell recommendations.
What Are Recent Analyst Recommendations for DCP Midstream?
Of the analysts that cover DCP Midstream, 71.0% rate it as a “hold,” 12.0% rate it as a “buy,” and the remaining 18.0% rate it as a “sell.”
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.
EnLink Midstream Partners to Maintain Flat Distribution in 2017
EnLink Midstream Partners (ENLK) is expected to keep its quarterly distribution flat at $0.39 per unit for all of 2017.
Analysts’ Views on Enable Midstream Partners
Analyst ratings for Enable Midstream Partners Of the analysts covering Enable Midstream Partners (ENBL), 46.0% rated it “buy,” 39% rated it “hold,” and the remaining 15% rated “sell” on September 12, 2017. Credit Suisse last upgraded ENBL to “outperform,” which is equivalent to “buy,” in May 2017. Overall, the partnership has seen three rating updates […]
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 […]
Crestwood Midstream’s Outlook for the Rest of 2015
According to Wall Street analysts’ estimates, Crestwood Midstream Partners’ (CMLP) distributions are expected to stay flat for the rest of 2015.
TC Pipelines’ Winning Streak Continued on Wednesday, August 12
TC Pipelines’ winning streak continued with a single-day gain of 5.74% yesterday. The stock has risen 14.60% in the last three trading sessions.
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.
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.”
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.
ENLC and ENLK: Last Week’s Analyst Rating Updates
On October 23, Raymond James cut its rating for EnLink Midstream Partners (ENLK) from “outperform” to “market perform.”
What Drove EnLink Midstream Partners’ 3Q17 Earnings Growth?
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.
Energy Transfer Partners: 2Q15 Operating Results
In this series, we’ll look at Energy Transfer Partners’ 2Q15 operating results, contrast actual numbers against analyst estimates, and compare individual segment contributions.
What Will Drive EnLink Midstream’s 4Q16 EBITDA
Wall Street analysts’ 4Q16 consensus EBITDA estimate for ENLK is $197.7 million—5.7% higher than in 4Q15.
What Led to Western Gas Partners’ Lower Earnings in 3Q17
Earnings in 3Q17 Midstream MLP Western Gas Partners (WES), which is mainly involved in natural gas gathering and processing, posted a 7.3% YoY (year-over-year) fall in its adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) in 3Q17. Moreover, the partnership missed its EBITDA estimate by 0.7%. The YoY decline in the MLP’s 3Q17 EBITDA was mainly […]
ETE, PAGP, WGP, and ENLC: Analyzing MLPs’ General Partners
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.
Why High Leverage Isn’t a Concern for Enable Midstream Partners
Enable Midstream Partners (ENBL) ended 3Q16 with a total outstanding debt of $3.1 billion, which is $442.0 million higher than at the end of 2015.
DCP Midstream’s Short Interest Is the Highest among Its Peers
Short interest in DCP Midstream was ~5.6 million shares on June 27, 2017. At the same time, its short interest as a percentage of float ratio was 3.8%, the highest among its selected peers.
What Will Drive EnLink Midstream Partners’ 2Q17 EBITDA?
EnLink Midstream Partners (ENLK) and its GP (general partner), EnLink Midstream (ENLC), are scheduled to release their 2Q17 earnings on August 1, 2017.
How EPD Increased Operating Income in Its Petrochemical Segment
EPD’s Petrochemical segment’s operating income has been increasing since 2010 due to higher propylene sales margins and lower maintenance expenses.
Why Boardwalk Pipeline Partners Has High Counterparty Exposure
Six of Boardwalk Pipeline’s 50 customers don’t carry an investment-grade rating. This represents ~17% of the partnership’s $1 billion in revenue.
What Enable Midstream’s Valuation Indicates before Its Earnings
Enable Midstream Partners’ forward EV-to-EBITDA multiple, which is based on the EBITDA estimate for the next 12 months, is 12.5x.
OKE, VNOM, and NGL: Top MLP and Midstream Gains Last Week
Hi-Crush Partners (HCLP), Viper Energy Partners (VNOM), and Dorchester Minerals (DMLP) were among the top MLP gainers last week.
7 MLPs Offering a Yield above 10%
NGL Energy Partners is trading at a yield of ~14.1%. NGL Energy Partners’ distributions have been flat for the last ten quarters.
EnLink Midstream Partners: Analysts’ Views and Target Price
EnLink Midstream Partners (ENLK) stock offers an upside potential of 39%—compared to its current market price of $12.82.
NGL, ENLC, ENLK, EQGP: The Week’s Top Midstream Underperformers
Last week, EnLink Midstream (ENLC) announced an agreement to acquire EnLink Midstream Partners (ENLK).
OKE, HCLP, SUN: Key Midstream and MLP Rating Updates Last Week
Of the 18 analysts covering ONEOK, five have rated the stock as a “strong buy,” four have rated it as a “buy,” and the remaining nine have rated it as a “hold.”
MLP Rating Update for the Week Ending August 3
Hi-Crush Partners (HCLP) saw a rating downgrade and target price revision last week. Credit Suisse raised its target price to $17 from $15.
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.
Top MLP Losses in the Week Ending June 22
Alliance Resource Partners (ARLP), an MLP involved in coal mining and production, was the top MLP loss in the week ending June 22.
EnLink Midstream: Second-Highest Correlation with Crude Oil
EnLink Midstream (ENLC), the GP of EnLink Midstream Partners (ENLK), is ranked second among MLPs in term of its correlation with crude oil.
EnLink Midstream Partners’ Strong Earnings Growth in 1Q18
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%.
EQT Midstream Partners Posted 20.0% Earnings Growth in 2017
EQT Midstream Partners posted a strong 18.0% YoY (year-over-year) rise in its EBITDA during the most recent quarter.
Last Week’s Biggest MLP Losers: SMLP and More
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’s Crude Oil Exposure Is Expected to Increase
EnLink Midstream, the general partner of EnLink Midstream Partners (ENLK), ranks fifth among midstream companies in terms of the correlation with crude oil.
How USAC Deal Could Boost ETP’s Market Performance
Energy Transfer Partners (ETP) had a strong start to the year with a rise of ~6.5% in 2018 YTD (year-to-date).
WES, ENLK, ENBL, DCP: Comparing Leverage Positions
DCP Midstream (DCP) has the highest total outstanding debt among our select peers. DCP’s total outstanding debt was $5.2 billion as of September 30.
What Analysts Recommend for ENLK and ENLC after 3Q17 Results
About 56% of analysts rate EnLink Midstream Partners (ENLK) a “hold,” while 38.0% rate it a “buy.”
EnLink Continues to Expand Capacity in Delaware and STACK Regions
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.
MLP Rating Updates Last Week
EnLink Midstream LLC (ENLC), the GP (general partner) of EnLink Midstream Partners (ENLK), was raised by UBS to a “buy.”
A Sneak Peek into EnLink Midstream Partners’ 3Q17 Volumes
EnLink Midstream Partners has high exposure to the Barnett Shale due to Devon Energy’s strong focus in the region. Devon Energy is its sponsor.
Western Gas Partners: What Its Valuations Indicate ahead of 3Q17
Western Gas Partners was trading at a price-to-DCF multiple of 9.5x at the end of 2Q17. It’s trading at a price-to-DCF multiple of 8.5x as of October 17, 2017.
How Golar LNG Partners’ Correlation with Crude Oil Compares
Golar LNG Partners Golar LNG Partners (GMLP), which is involved in LNG (liquefied natural gas) shipping, floating LNG liquefaction, and floating LNG floating storage and regasification, has the eighth-highest correlation with crude oil among MLPs. EnLink Midstream Partners (ENLK), which has the seventh-highest correlation, has been discussed alongside its general partner in the second part of this […]
Enable Midstream Partners’ Technical Indicators
Enable Midstream Partners’ moving averages Enable Midstream Partners (ENBL) has been trading below its 50-day and 200-day moving averages since June 2017, which may indicate a bearish sentiment towards ENBL stock. It was trading 1.3% below its 50-day average and 6.7% below its 200-day average as of September 13. In comparison, peers EnLink Midstream Partners […]
A Look at Enable’s Leverage Position
Enable Midstream Partners’ outstanding debt Enable Midstream Partners (ENBL) ended 2Q17 with a total outstanding debt of $3.1 billion, which is 1.3% higher than its debt outstanding at the end of 2016. The slight increase in the partnership’s outstanding debt could be attributed to the funding of organic projects. ENBL had $1.8 billion in liquidity under […]
Enable Midstream to Acquire Align Midstream for $300 Million
Enable Midstream Partners (ENBL) announced the signing of a merger agreement to acquire Align Midstream on September 12. In this series, we’ll assess whether ENBL could gain upward momentum.
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.
Comparing Western Gas Partners’s Valuation
Western Gas Partners’ price-to-distributable cash flow Western Gas Partners (WES) was trading at a price-to-distributable cash flow ratio of 7.6x on August 17, lower than the 8.8x it stood at in late 2Q17 and its last-ten-quarter average of 8.3x. Peers Crestwood Equity Partners (CEQP), DCP Midstream (DCP), and EnLink Midstream Partners (ENLK) have seen a similar […]
Which Segment Drove Williams Partners’ 2Q17 Performance?
Williams Partners’ (WPZ) Atlantic Gulf segment was its top performing segment in 2Q17, with adjusted EBITDA growth of 25.5%.
Why EnLink Midstream Is Reaching New YTD Lows
Of the analysts that cover EnLink Midstream Partners, 52.6% rated it as a “hold” on June 20, 2017. Plus, 42.1% rated it as a “buy,” and the remaining 5.3% rated it as a “sell.”
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.
Looking at DCP Midstream’s Current Valuations
DCP Midstream’s EV-to-adjusted EBITDA ratio using a trailing 12-month adjusted EBITDA is 13.0x.
What Does Crestwood Equity Partners’s Current Valuation Indicate?
Crestwood Equity Partners (CEQP) stock fell 2.3% following its 4Q16 earnings announcement.
Enable Midstream Could Benefit from Strong STACK Focus in 4Q16
Enable Midstream Partners (ENBL) is expected to benefit the most from increased drilling activity in the SCOOP and STACK plays in 4Q16.
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.
How Did EnLink Midstream Stock Perform in 2016?
EnLink Midstream Partners (ENLK) has risen 11.0% year-to-date. In this series, we’ll analyze ENLK’s balance position, cash flow measures, operating results, and analyst projections.
Which Companies Could Benefit from Higher Pipeline Exports to Mexico?
Natural gas imports by Mexico have increased over the last year, driven by higher usage of natural gas for power generation.
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.
Getting Familiar with MLP Contracts
In this article, we’ll look at types of MLP contracts for midstream MLPs. Midstream MLPs generally have fixed-fee contracts.
How Enable Midstream Benefits from Position in SCOOP and STACK
Enable Midstream Partners (ENBL) is expected to benefit the most from increased drilling activity in the SCOOP and STACK plays. It’s the top processor in the region.
Inside Sunoco Logistics’ JV with ExxonMobil: Key Highlights
Sunoco Logistics Partners and ExxonMobil have decided to form a JV in which a new entity called Permian Express Partners will be formed to combine assets.
How EnLink Benefits from Devon’s Strong STACK Production Growth
EnLink Midstream Partners’ (ENLK) sponsor, Devon Energy (DVN), increased its production in the STACK region by 31.0% YoY in 3Q16 compared to 3Q15.
A Sneak Peek into Western Gas’s 3Q16 Throughput Volumes
Western Gas Partners’ (WES) natural gas volumes stood at 3.9 Bcfpd (billion cubic feet per day) in 3Q16, compared to $4.40 Bcfpd in 2Q15, a year-over-year fall of 12.0%.
How Crestwood Equity’s Stock Has Performed So Far in 2016
Crestwood Equity Partners, which mainly provides natural gas gathering, processing, transportation, and storage and crude oil gathering services, has fallen 1.4% year-to-date.
Energy Transfer Equity: The Leader in Implied Volatility
On September 26, 2016, Energy Transfer Equity (ETE) had an implied volatility of 46.1%, the highest among the midstream companies.
Where Does EnLink Midstream Stand Compared to Its Peers?
EnLink Midstream Partners (ENLK) has the second-highest enterprise value of $10.4 billion among selected peers.
Why EnLink Midstream Is Focusing on the Delaware and Stack Region
EnLink Midstream Partners (ENLK) is focusing on expansion in the Delaware and Stack region based on its sponsor, Devon Energy’s (DVN), spending in the region.
Are Institutional Investors Bullish on Sunoco Logistics?
The number of institutional holders in Sunoco Logistics has increased to 385 as of August 29, 2016, as compared to 371 at the end of 2015.
Where Does DCP Midstream Stand Compared to Peers?
DCP Midstream Partners (DPM) has an enterprise value of $5.2 billion.
Flat Ethane Prices Last Week Led to Ethane Rejection
Mont Belvieu ethane prices remained flat during the week ended August 19, 2016, closing at $0.17 per gallon.