Global X MLP ETF

Most Recent

  • An Overview of Genesis Energy’s Offshore Pipeline Segment
    Company & Industry Overviews

    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.

    By Kurt Gallon
  • Genesis Energy’s Segment Margin Breakdown by Segment
    Company & Industry Overviews

    Genesis Energy’s Segment Margin Breakdown by Segment

    A segment margin breakdown of Genesis Energy’s Onshore Transport, Offshore Transport, Marine Transport, Refinery Services, and Supply and Logistics segments.

    By Kurt Gallon
  • Overview: How Suburban measures up among its competitors
    Energy & Utilities

    Overview: How Suburban measures up among its competitors

    Over the past 12 months the group has had mixed results.

    By Keisha Bandz
  • Overview: ONEOK Partners and its 3 operating segments
    Energy & Utilities

    Overview: ONEOK Partners and its 3 operating segments

    ONEOK Partners (OKS) is a master limited partnership (or MLP) engaged in gathering, processing, storing, and transporting natural gas and natural gas liquids (or NGLs) in the U.S.

    By Keisha Bandz
  • Energy & Utilities

    An investor’s guide to MLPX and its holdings, like Spectra Energy

    The Global X MLP & Infrastructure ETF (MLPX) tracks the Solactive MLP & Energy Infrastructure Index. The index consists of midstream energy infrastructure MLPs and corporations.

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

    Why EQT Midstream Trades at a Premium to Its Peers

    EQT Midstream (EQM) is the second-largest company according to EV (enterprise value) in the peer group described in this part.

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

    Pipeline Segment Will Drive NuStar Energy’s 4Q15 Performance

    The pipeline segment is NuStar’s largest business segment in terms of the EBITDA. It accounted for 50% of the total segment EBITDA in the first nine months of 2015.

    By Kurt Gallon
  • uploads///Q Vs Q
    Energy & Utilities

    Must-know: Suburban Propane’s 1Q14 earnings

    SPH noted that weather during this period in its service territories was normal and 9% colder than the prior year.

    By Keisha Bandz
  • uploads///Comps
    Company & Industry Overviews

    Where Does Sunoco Logistics Stand Compared to Its Peers?

    Sunoco Logistics (SXL) has the lowest operating margin of 5.4% among the selected peer group. This is because SXL’s crude oil acquisition and marketing business has very thin operating margins.

    By Kurt Gallon
  • uploads///Asset Map
    Energy & Utilities

    Must-know: An introduction to Buckeye Partners

    Buckeye Partners L.P. (BPL) is a master limited partnership operating in the midstream oil and gas industry in the United States.

    By Alex Chamberlin
  • uploads///weekly crude oil prices
    Macroeconomic Analysis

    How the Rise in Brent Oil and the Fall in WTI Impact MLPs

    The NYMEX (New York Mercantile Exchange) near-month WTI (West Texas Intermediate) crude oil futures prices fell 0.9% in the week ending November 20. WTI prices closed at $40.4 per barrel on Friday.

    By Rekha Khandelwal, CFA
  • uploads///Analyst Recommendation
    Earnings Report

    Should You Include EQT Midstream Partners in Your Portfolio?

    Here, we’ll look at what Wall Street analysts recommend for EQT Midstream Partners (EQM). Around 90.9% of analysts rate EQT Midstream a “buy.”

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

    How a Fall in Fractionation Spread Affected MLPs Last Week

    The Henry Hub-Mont Belvieu fractionation spread fell to $10.1 per barrel for the week ended October 16, 2015.

    By Rekha Khandelwal, CFA
  • uploads///SXL EBITDA estimates
    Earnings Report

    Expansion Projects Might Drive Sunoco Logistics’ 4Q15 EBITDA

    Wall Street analysts’ 4Q15 consensus EBITDA estimate for SXL is ~$305.8 million. Sunoco’s 4Q15 estimate is 29% more than the reported 4Q14 adjusted EBITDA.

    By Kurt Gallon
  • uploads///
    Energy & Utilities

    Downside: Higher propane prices could hurt these names

    More expensive propane costs could cause residential customers to buy less, hurting certain MLP names.

    By Ingrid Pan
  • uploads///adjusted revenues vs consensus estimates
    Earnings Report

    Will Enterprise Products Beat Its 3Q15 Consensus Revenue Estimates?

    EPD’s revenue estimate for 3Q15 The consensus revenue estimate for Enterprise Products Partners (EPD) for the third quarter of 2015 is $9.1 billion. EPD missed revenue estimates by 20% in the second quarter of 2015. On the other hand, peers Spectra Energy Partners (SEP) and Energy Transfer Partners (ETP) beat 2Q15 revenue estimates by 1.2% […]

    By Rekha Khandelwal, CFA
  • Energy & Utilities

    Must-know: Atlas Pipeline’s first quarter earnings analysis

    Atlas Pipeline Partners (APL) released its financial information for 1Q14 on May 5, 2014.

    By Alex Chamberlin
  • 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///Marine
    Company & Industry Overviews

    What Drives Genesis Energy’s Marine Segment’s Performance?

    Genesis Energy’s Marine Transportation segment is involved in the marine transportation of crude oil and refined products.

    By Kurt Gallon
  • Energy & Utilities

    Why Genesis Energy and Buckeye Partners rely on Eagle Ford and the Permian

    Genesis Energy L.P. (GEL) is a master limited partnership (or MLP) that operates in the midstream segment of the oil and gas industry in the Gulf Coast region of the United States.

    By Alex Chamberlin
  • uploads///propane prices
    Energy & Utilities

    Why propane prices are impacted by weather forecasts

    U.S. propane stocks decreased by 0.1 million barrels to 80.1 million barrels as of October 31. Now, they’re 29.1% higher than the levels last year.

    By Keisha Bandz
  • uploads///natural gas prices
    Macroeconomic Analysis

    Natural Gas Prices Dipped Last Week: Impact on MLPs

    NYMEX (New York Mercantile Exchange) near-month Henry Hub natural gas futures contracts fell last week compared to the previous week.

    By Rekha Khandelwal, CFA
  • Energy & Utilities

    Must-know: The BPL segments that source from liquid-rich areas

    Traditionally, the Merchant Services segment provides wholesale distributor service of refined petroleum products in the U.S. and the Caribbean.

    By Alex Chamberlin
  • uploads///fractionation spread
    Macroeconomic Analysis

    Week Ended September 18: Rise in Fractionation Spread Affects MLPs

    The Henry Hub–Mont Belvieu fractionation spread rose to $9.12 per barrel for the week ended September 18, 2015. The spread was $8.86 per barrel in the previous week.

    By Rekha Khandelwal, CFA
  • uploads///natural gas pipelines
    Energy & Utilities

    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.

    By Keisha Bandz
  • uploads///APL asset overview
    Energy & Utilities

    A brief overview on Atlas Pipeline Partners

    The company provides natural gas gathering and processing services in the Eagle Ford Shale play in Texas, as well as in the Anadarko, Arkoma, and Permian basins.

    By Keisha Bandz
  • uploads///
    Energy & Utilities

    Winter’s cold end supports propane demand and stocks like AmeriGas

    Last week saw slightly colder-than-normal weather, a positive for propane companies such as AmeriGas Partners (APU), Ferrellgas Partners (FGP), and Suburban Propane Partners (SPH).

    By Keisha Bandz
  • uploads///aspc
    Company & Industry Overviews

    Buckeye Partners Has a Consensus “Hold” Rating from Analysts

    Buckeye Partners has not provided any financial or capex guidance for 2016. The partnership gave a rough estimate of $300 million–$400 million for its 2016 capex.

    By Kurt Gallon
  • Energy & Utilities

    Why lower crude oil price estimates impact the midstream industry

    A falling inventory indicates that WTI crude oil is moving out of the inland U.S. towards end refining markets with help from new infrastructure coming online.

    By Alex Chamberlin
  • uploads///fractionation spread
    Macroeconomic Analysis

    Why Last Week’s Fall in Fractionation Spread Affects MLPs

    The Henry Hub–Mont Belvieu fractionation spread fell to $6.82 per barrel for the week ended August 28, 2015. The spread was $7.03 per barrel in the previous week.

    By Rekha Khandelwal, CFA
  • uploads///FGPs Organizational Structure
    Energy & Utilities

    Ferrellgas Partners (FGP): An investor’s must-know overview

    Ferrellgas Partners, L.P. (FGP), a master limited partnership (MLP), is the second largest retail propane distributor in the U.S. serving all 50 states, the District of Columbia and Puerto Rico, as measured by the volume of retail sales in fiscal 2013, and the largest national provider of propane by portable tank exchange.

    By Keisha Bandz
  • uploads///meps operational metrics
    Company & Industry Overviews

    Commodity Prices Impact Midcoast Energy’s Operations

    Midcoast Energy Partners’ (MEP) natural gas throughput volumes fell in 2Q15 compared to 1Q15 and 2Q14. The decrease was primarily due to the low commodity price environment for natural gas and NGLs.

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

    Why continuous cold winter helps propane distributors like FGP

    Propane distributors like FGP will benefit from the season’s cold weather so far.

    By Ingrid Pan
  • uploads///natural gas gp contract mix
    Energy & Utilities

    Must-know: ONEOK Partners’ segment-wise contract mix

    Now that we’ve looked at various sources of margin across ONEOK Partners’ (OKS) business segments, let’s delve deeper into the margin mix within these segments.

    By Keisha Bandz
  • uploads///Consensus vs quarterly EBITDA
    Energy & Utilities

    NuStar Energy’s 1Q14 earnings’ analysis: Higher revenues recorded

    NuStar Energy recorded total revenues of $849.2 million, or 8.1% higher than $785.3 million the company recorded in 4Q13.

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

    Why the MLPJ ETF shows tracking error versus its benchmark index

    The effect of sampling—the difference in the holdings between MLPJ and its benchmark index—is another cause of the tracking error.

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

    Should You Include Energy Transfer Equity in Your Portfolio?

    Investors should consider the positives and negatives before they decide to include Energy Transfer Equity in their portfolio.

    By Kurt Gallon
  • uploads///PAA capital projects
    Energy & Utilities

    Overview: Plains All American Pipeline’s growth capital projects

    Plains All American Pipeline (PAA) increased its 2014 expansion capital by approximately $100 million from $1.850 billion (see chart below) to a revised target of $1.95 billion. The company noted that this increase is not attributable to any single project.

    By Keisha Bandz
  • uploads///
    Energy & Utilities

    Is preferred equity a trend for master limited partnerships?

    Recently, two master limited partnerships issued preferred equity, which is a relatively rare avenue of financing for MLPs.

    By Ingrid Pan
  • uploads///TRP asset overview
    Energy & Utilities

    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.

    By Keisha Bandz
  • uploads///Distribution per unit
    Earnings Report

    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.

    By Kurt Gallon
  • uploads///attractive basin positions
    Energy & Utilities

    An overview of the Targa Resources and Atlas Pipeline deal

    The combined company will create a midstream enterprise with more than 22,500 miles of crude oil and natural gas pipelines across the U.S. The $7.7 billion deal is expected to close in the first quarter of 2015.

    By Keisha Bandz
  • uploads///TCP pipelines overview
    Energy & Utilities

    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.

    By Keisha Bandz
  • uploads///EBITDA
    Company & Industry Overviews

    An Analysis of Energy Transfer Equity’s EBITDA Growth

    Energy Transfer Equity’s adjusted EBITDA has continued to grow over the recent quarters. For 2Q15, its adjusted EBITDA grew by 15% YoY compared to 2Q14.

    By Kurt Gallon
  • uploads///
    Energy & Utilities

    Must-know: Why higher propane prices could hurt some MLPs

    Propane prices increased last week, which could cut into the sales volumes of distributors such as AmeriGas and Ferrellgas.

    By Ingrid Pan
  • uploads///GR
    Energy & Utilities

    Tesoro Logistics overview: A master limited partnership analysis

    Tesoro Logistics LP is a master limited partnership (or MLP) which was formed by Tesoro Corporation in 2011.

    By Keisha Bandz
  • uploads///Regencys Asset Map
    Energy & Utilities

    Overview: Regency Energy Partners

    Regency Energy Partners L.P. (RGP) is a midstream operator of natural gas pipelines, gathering systems, and processing facilities.

    By Keisha Bandz
  • uploads///propane prices
    Energy & Utilities

    Must-know: Why propane prices may be bullish in the future

    Propane is an essential heating fuel. Its demand increases during the winter months. Much like natural gas, April through September is considered to be the “injection season” for propane. Last winter, propane prices spiked. Inventories saw record lows because of the severe winter. Prices touched a record high of ~$5 per gallon last winter.

    By Keisha Bandz
  • uploads///
    Energy & Utilities

    Higher oil prices are a potential double whammy for propane sales

    Propane distributors such as Amerigas Partners (APU), Ferrellgas (FGP), and Suburban Propane (SPH) sell propane and related equipment to a variety of end markets. Find out what trends could hurt propane names this winter.

    By Ingrid Pan
  • uploads///
    Energy & Utilities

    Why this winter has been positive for propane distributor MLPs

    Cold winter weather is one of the major drivers of propane distributors’ earnings, as the fuel is used for home heating in many areas in the U.S.

    By Ingrid Pan
  • uploads///
    Energy & Utilities

    Atlas Pipeline Partners taps preferred equity for over $100 million

    Earlier in March, Atlas Pipeline Partners (APL)—a gathering and processing master limited partnership (or MLP)—announced an offering of preferred equity.

    By Ingrid Pan
  • uploads///
    Energy & Utilities

    How propane prices can affect names like Ferrellgas Partners

    Extreme volatility in propane prices could negatively affect the margins of distributors such as Ferrellgas, as the company may not be able to immediately pass on the cost of more expensive propane to its customers. From many reports, this winter season was especially tough to manage given extreme weather resulting in high demand, spikes in price, and logistical problems getting propane to end customers.

    By Keisha Bandz
  • uploads///Analyst Ratings
    Earnings Report

    EQT Midstream Partners: Most Analysts Rate the Stock a ‘Buy’

    In this part of our series, we’ll look at Wall Street analysts’ recommendations for EQT Midstream Partners (EQM).

    By Kurt Gallon
  • uploads///organizational structure
    Energy & Utilities

    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.

    By Keisha Bandz
  • uploads///Gathering Processing Permian Region
    Energy & Utilities

    Overview: Regency’s growth projects in 2014

    For the full year of 2014, Regency announced growth capex expenditures of $1.2 billion.

    By Keisha Bandz
  • uploads///EPB distribution
    Energy & Utilities

    Overview: Kinder Morgan’s acquisition of El Paso Pipeline Partners

    El Paso Pipeline Partners (EPB) is a master limited partnership (or MLP) that owns and operates natural gas transportation pipelines, storage, and other midstream assets.

    By Keisha Bandz
  • uploads///
    Energy & Utilities

    Broad economic woes and slow housing starts affect propane sales

    Propane distributors such as Amerigas Partners (APU), Ferrellgas (FGP), and Suburban Propane (SPH) sell propane and related equipment to a variety of end markets. Find out what trends could hurt propane names this winter.

    By Ingrid Pan
  • uploads///Northen border net income
    Energy & Utilities

    Why Western Canada and Bakken development help TC PipeLines

    In 2013, TCP’s Northern Border pipeline delivered steady results despite its lower rates, which were instituted on January 1, 2013. Demand for its service has remained strong.

    By Alex Chamberlin
  • uploads///
    Energy & Utilities

    Must-know: Correlation between weather and propane demand

    Heating degree days measure the difference between the outside temperature and room temperature to help calculate the demand for energy needed to heat a given area.

    By Keisha Bandz
  • uploads///PAAs asset footprint
    Energy & Utilities

    Overview: Plains All American Pipeline’s product platform

    The product platforms that PAA conducts its business in include crude oil, natural gas liquids (or NGL), and natural gas. PAA’s assets are located throughout North America in major crude oil producing areas and liquids rich areas.

    By Keisha Bandz
  • uploads///propane stocks
    Macroeconomic Analysis

    Key update on this week’s propane inventory movements

    As of this date, propane inventories are 33.2 million barrels greater, or 78.3 % higher, than they were in the corresponding period last year.

    By Keisha Bandz
  • uploads///distribution growth
    Earnings Report

    Enterprise Products’ Distribution: Growth Expectations in 2015?

    On October 1, Enterprise Products declared a 1.30% quarter-over-quarter rise in its distributions to $0.385 per unit—a rise for the 45th quarter in a row.

    By Rekha Khandelwal, CFA
  • uploads///propane prices
    Energy & Utilities

    Why the outlook for propane prices is uncertain

    Propane is an essential heating fuel. Propane demand increases in the winter. Last winter, propane prices spiked because inventories saw record lows.

    By Keisha Bandz
  • uploads///pbf logistics ebitda
    Company & Industry Overviews

    PBF Logistics Records High EBITDA Growth in 2Q15

    PBF Logistics’ (PBFX) 2Q15 EBITDA increased more than six times its 2Q14 level of $4 million. PBF Logistics’ high EBITDA growth is due to regular asset acquisitions from PBF.

    By Rekha Khandelwal, CFA
  • uploads///propane prices
    Energy & Utilities

    Energy outlook: Weather forecasts also affect propane prices

    Propane is a natural gas liquid (or NGLs). NGLs are hydrocarbons—in the same family of molecules as natural gas and crude oil. Other NGLs include Ethane, butane, and pentane.

    By Keisha Bandz
  • uploads///atls trgp shareholder benefits
    Energy & Utilities

    Part 2 of Targa Resources’ acquisition deal with Atlas

    After spinning off its non-midstream assets, ATLS’ assets will include its general partner and incentive distribution rights in APL, as well as 5.8 million APL units.

    By Keisha Bandz
  • uploads///NGL Production
    Energy & Utilities

    Why Targa Resources sees a benefit to acquiring Atlas

    The deal with Atlas Pipeline Partners (APL) strengthens Targa Resources Partners’ (NGLS) position In the Permian Basin. The move also broadens the company’s reach in the Eagle Ford and Bakken Shale formations.

    By Keisha Bandz
  • uploads///propane prices
    Energy & Utilities

    Why you can expect propane prices to depend on 2 things

    Last winter, propane prices spiked as inventories saw record lows, thanks to severe winter. Prices touched a record high of ~$5 per gallon last winter.

    By Keisha Bandz
  • uploads///YMLI
    Energy & Utilities

    Recommendation: Compare YMLI versus the ETF’s benchmark index

    The Yorkville High Income Infrastructure MLP ETF (YMLI) tracks the Solactive High Income Infrastructure MLP.

    By Alex Chamberlin
  • uploads///Asphalt JV Sale
    Energy & Utilities

    NuStar’s Fuels Marketing segment benefits from asphalt sale-off

    Following the sale of the remaining 50% ownership interest in asphalt JV to Lindsay Goldberg in February 2014, NuStar is on course to improve its margin from the Fuels Marketing segment.

    By Alex Chamberlin
  • Energy & Utilities

    Why investors are excited about the proposed Susser–ETP deal

    Following the news of the proposed transaction, SUSP’s share price spiked 22%. ETP, in contrast, had a muted response, with its share price falling marginally by 1%.

    By Alex Chamberlin
  • uploads///natural gas liquids
    Energy & Utilities

    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.

    By Keisha Bandz
  • uploads///other growth trends
    Energy & Utilities

    Must-know: ONEOK Partners’ growth trends and strategies

    Producers currently receive higher market prices for crude oil and NGLs (or natural gas liquids) compared to natural gas. So many producers have focused their drilling activity in NGL-rich shale areas rather than areas that produce dry natural gas.

    By Keisha Bandz
  • uploads///ETEs earnings
    Energy & Utilities

    A key overview of Energy Transfer Equity’s earnings

    Energy Transfer Equity (ETE) reported its earnings for the second quarter on August 6. ETE reported revenue of $14 billion for the quarter—compared to the Wall Street analysts’ estimate of $13 billion. Revenues were up 17% year-over-year (or YoY). Net income for the quarter was $164 million—29% higher YoY. The distributable cash flow (or DCF) for the quarter was $218 million.

    By Keisha Bandz
  • uploads///ETPs asset overview
    Energy & Utilities

    Must-know: An overview of Energy Transfer Partners

    Energy Transfer Partners’ (ETP) operations span across major plays in the United States. These include the Eagle Ford, Permian, Bakken, Marcellus, and Haynesville. ETP’s intra-state pipelines receive natural gas from mainline transportation pipelines and gathering systems. They deliver this gas to industrial end users, utilities, and other pipelines.

    By Keisha Bandz
  • uploads///Natural Gas Valuation
    Energy & Utilities

    Must-know : A brief overview of natural gas storage contracts

    High volatilities in prices increase the extrinsic value of storage assets because it creates more opportunities for profitable storage optimization.

    By Keisha Bandz
  • Overview: Plains All American Pipeline’s gas storage services
    Energy & Utilities

    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.

    By Keisha Bandz
  • uploads///CEQPs Gas Storage Facility
    Energy & Utilities

    Must-know: An overview of Crestwood Equity’s natural gas storage services

    Storage and transportation segment earnings before interest, taxes, depreciation, and amortization (or EBITDA) totaled $38 million during the 1Q14.

    By Keisha Bandz
  • uploads///SPHs Organizational Structure
    Energy & Utilities

    Overview: Suburban Propane Partners

    Suburban Energy Finance Corp., is a 100%-owned finance subsidiaries of Suburban Propane Partners.

    By Keisha Bandz
  • uploads///SPHs FY Revenues
    Energy & Utilities

    Must know: An overview of the propane industry

    Suburban Propane Partners (SPH) sells propane primarily to six customer markets: residential, commercial, industrial (including engine fuel), agricultural, other retail users, and wholesale.

    By Keisha Bandz
  • uploads///FY  Revenues Vs FY Revenues
    Energy & Utilities

    Must-know: Suburban Propane Partners’ company trends

    Prior to the Inergy deal, SPH had an average earnings before interest, taxes, depreciation, and amortization (or EBITDA) in the range of $185 million.

    By Keisha Bandz
  • uploads///Nat Gas Pipelines
    Energy & Utilities

    High contract volume: A steady cash flow for Natural Gas Pipeline

    The operating income for the Natural Gas Pipeline segment for 1Q14 was $55.1 million versus an operating income of $48.7 million in 4Q13, an increase of ~13%.

    By Alex Chamberlin
  • Energy & Utilities

    Why the BORCO terminal acts as booster to Global Marine segment

    BPL acquired the BORCO terminal facility in the Bahamas in 2011.

    By Alex Chamberlin
  • uploads///Magellan Midstreams Asset Map
    Energy & Utilities

    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.

    By Keisha Bandz
  • uploads///Assets Overview
    Energy & Utilities

    A must-know introduction to NuStar Energy and its assets

    On April 24, 2014, NuStar Energy, a master limited partnership operating in the midstream energy space, presented its earnings for the first quarter of 2014.

    By Alex Chamberlin
  • uploads///Transaction summary
    Energy & Utilities

    Energy Transfer Partners could acquire Susser for $1.8 billion

    On March 28, 2014, Energy Transfer Partners LP (ETP) announced that it entered into a definitive merger agreement to acquire 100% of Susser Holdings Corporation (SUSS).

    By Alex Chamberlin
  • uploads///Segment Operating income
    Energy & Utilities

    NuStar Energy’s new trends: A track refocused on core competence

    Since 2012, NuStar has chartered on a track refocus on its core, fee-based businesses of storage and pipelines and to reduce earnings volatility.

    By Alex Chamberlin
  • uploads///
    Energy & Utilities

    Enterprise Products Partners will increase its LPG export capacity

    Other than Targa Resources, the other company investing major sums to participate in LPG exports is Enterprise Products Partners (EPD).

    By Alex Chamberlin
  • uploads///
    Energy & Utilities

    A guide to preferred equity and 2 MLPs that recently issued it

    Preferred equity (also called “preferred stock”) is a class of security that has features of both common equity and debt. Preferred equity acts like stock.

    By Ingrid Pan
  • uploads///
    Energy & Utilities

    Vanguard Natural Resources raises $169 million in preferred equity

    Earlier in March, Vanguard Natural Resources (VNR) raised money through the issuance of preferred equity. VNR issued 7 million 7.625% cumulative redeemable perpetual preferred units.

    By Ingrid Pan
  • uploads///
    Energy & Utilities

    Why winter weather could affect some MLP names in your portfolio

    Propane distributors benefit from cold weather, which spurs increased propane demand for home heating.

    By Ingrid Pan
  • uploads///
    Energy & Utilities

    How soaring propane exports affect prices

    Propane exports have increased significantly through 2013, and have spiked recently. Increased propane exports are a positive for domestic propane prices.

    By Ingrid Pan
  • uploads///
    Energy & Utilities

    This fall’s bumper crops pushed up propane demand

    Higher propane demand from the agricultural sector has helped to buoy propane prices.

    By Ingrid Pan
  • Energy & Utilities

    An investor’s guide to YMLI and its holdings, like Targa Resources

    The Yorkville High Income Infrastructure MLP ETF (YMLI) launched in February 2013. Major constituents of YMLI include Sunoco Logistics Partners LP (SXL) and Western Gas Equity Partners LP (WGP).

    By Alex Chamberlin
  • uploads///mlp funds
    Energy & Utilities

    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.

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

    Why tracking errors in MLPA make the ETF underperform its index

    The tracking error of MLPA is 3.96%. This means the standard deviation for excess average weekly returns for the benchmark index over MLPA for the past year is 3.96.

    By Alex Chamberlin
  • uploads///TE of select MLPs
    Energy & Utilities

    An investor’s must-know guide to tracking error for MLP ETFs

    Tracking error measures how closely a portfolio follows the index it’s benchmarked to—that is, how well a fund manager replicates the performance of a specific index.

    By Alex Chamberlin
  • uploads///EPDs DCF
    Company & Industry Overviews

    Analyzing Enterprise Products Partners’ Distributable Cash Flow

    Enterprise Products Partners’ (EPD) DCF (distributable cash flow) for 2018 rose 34% over 2017.

    By Rekha Khandelwal, CFA
  • uploads///fund flows
    Energy & Utilities

    What Do the Fund Flows into Top MLP ETFs Indicate?

    So far in 2019, AMLP, AMZA, and EMLP have seen net outflows of $184 million, $5 million, and $53 million, respectively.

    By Rekha Khandelwal, CFA
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