Coal MLPs Alliance Resource Partners LP (ARLP), CNX Coal Resources (CNXC), and Foresight Energy LP (FELP) were among the worst-performing MLPs in 2017.
Sanchez Production Partners (SNMP), the midstream MLP involved mainly in natural gas gathering, compression, and processing, was the biggest MLP loser last week.
Mid-Con Energy Partners Mid-Con Energy Partners (MCEP), an upstream MLP, has the third-highest correlation with crude oil among MLPs. MCEP’s correlation with crude oil was 0.49 on October 6, 2017. MCEP’s high correlation with crude oil reflects the partnership’s high direct crude oil exposure due to its involvement in the production and sale of crude oil and […]
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.
Teekay Offshore Partners fell 41.1% during the month. Its steep decline could be attributed to its weak 1Q17 earnings driven by a contract dispute with Petrobras (PBR).
Vanguard Natural Resources (VNR) has been suffering from a liquidity crisis and high leverage. On February 2, it filed for relief under Chapter 11 of the United States Bankruptcy Code.
MEMP’s earnings improved in the recent quarter, but prior shortfalls were high and couldn’t be covered without a restructuring under Chapter 11 bankruptcy.
Vanguard Natural Resources (VNR), an upstream MLP involved in crude oil, natural gas, and NGL production, has gained over 100.0% in recent trading sessions.
According to data released on July 7, 2016, US crude oil production fell by 2.3% in the week ended July 1. Crude oil production has continued to decline in recent months.
Legacy Reserves has the most “sell” ratings among the selected peer group. 37.5% of analysts rate LGCY a “sell” and the remaining 62.5% rate it a “hold.”
Breitburn Energy Partners is going through a liquidity crisis. It expects the borrowing base under its credit facility to be redetermined in late May 2016.
Diamondback Energy announced its 1Q16 earnings on May 3, reporting an adjusted profit of $0.02 per share—$0.08 higher than estimates of -$0.06 per share.
At a broader level, 72.7% of the analysts surveyed by Bloomberg rate Breitburn Energy a “hold,” 9.1% rate it a “buy,” and the remaining ~18.2% rate it a “sell.”
At a broader level, 60% of analysts surveyed by Bloomberg rate Vanguard Natural Resources a “hold,” 30% rate it as a “buy,” and the remaining ~10% rate it a “sell.”
The biggest upstream MLP losers of the day include EV Energy Partners (EVEP), Atlas Resource Partners (ARP), Legacy Reserves (LGCY), and Memorial Production Partners (MEMP).
The top upstream MLP gainers include EV Energy Partners (EVEP), Atlas Resource Partners (ARP), BreitBurn Energy Partners (BBEP), and Legacy Reserves (LGCY).
Top upstream MLP losers include Atlas Resource Partners (ARP), BreitBurn Energy Partners (BBEP), EV Energy Partners (EVEP), and Eagle Rock Energy Partners (EROC).
The two most recent recommendations are by UBS and Scotia Howard Weil, and they rate LINE “sell” and “sector perform,” with target prices of $2 and $5, respectively.
EV Energy Partners (EVEP) saw its 2Q15 revenues more than halved YoY (year-over-year). Its revenues fell to $44.4 million, down from $89.36 million in 2Q14.
EV Energy Partners sold its interests in its midstream assets, including Cardinal Gas Services and Utica East Ohio Midstream. Now, EVEP no longer operates in the midstream segment.
EOG Resources’ 1Q15 adjusted revenue fell 39% quarter-over-quarter. This was mainly a result of the fall in crude oil and natural gas prices starting in 2H14.
BreitBurn Energy Partners (BBEP) has generated below-par total returns over the last three years mainly due to the decline in crude oil and natural gas prices.
Magnetar raised its stake in Williams Companies during the fourth quarter by purchasing 1.5 million shares. It represents 2.59% of the fund’s 4Q14 portfolio.
