Global X MLP & Energy Infrastructure ETF

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  • The MPLX crude oil pipeline system
    Company & Industry Overviews

    The MPLX crude oil pipeline system

    MPLX crude pipelines are connected to supply hubs, and transport crude oil to Marathon Petroleum Corporation’s, or MPC’s, refineries and third parties.

    By Keisha Bandz
  • Overview of Cheniere’s sale and purchase contracts
    Energy & Utilities

    Overview of Cheniere’s sale and purchase contracts

    Cheniere Energy, Inc.’s MLP company’s Sabine Pass liquefaction project has already secured four fixed-price, 20-year sales and purchase agreements with third parties.

    By Keisha Bandz
  • uploads///forward distribution yield to distribution growth
    Earnings Report

    How Does Phillips 66 Partners’ Valuation Compare to Its Peers’?

    Phillips 66 Partners’ forward distribution yield of 3.3%, owing to its fee-based revenues, consistent distribution growth, and strong coverage ratio.

    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///LNG organizatinal structure
    Energy & Utilities

    A must-know overview of Cheniere Energy

    Cheniere Energy, Inc., is a Houston-based energy company engaged in the liquefied natural gas business.The Sabine Pass liquefaction project is one of the first projects to receive the necessary government permits to export liquefied natural gas.

    By Keisha Bandz
  • uploads///Losers
    Macroeconomic Analysis

    Rose Rock Midstream: Top Midstream MLP Loser on August 25

    Rose Rock Midstream (RRMS) was the top loser among midstream MLPs at the end of trading on Tuesday, August 25. It fell 4.71% in a single trading session.

    By Kurt Gallon
  • uploads///MPLX structure
    Company & Industry Overviews

    MPLX LP: The infrastructure link in Marathon Petroleum’s chain

    Marathon Petroleum Corporation, or MPC, owns 100% of the MPLX general partnership, or GP, interests, as well as the incentive distribution rights.

    By Keisha Bandz
  • uploads///PAA and WTI
    Company & Industry Overviews

    Crude Oil Prices Should Drive Plains All American’s Stock Price in 2016

    The correlation between WTI prices and Plains All American’s shares has been even higher at 0.8 since the start of 2014.

    By Rekha Khandelwal, CFA
  • 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///ASPC
    Earnings Report

    Kinder Morgan Lowered Its Project Backlog by $3.1 Billion

    Kinder Morgan (KMI) decided to slash its quarterly dividend by 75% in the 2016 outlook it released few days ago.

    By Kurt Gallon
  • 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///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
  • Energy & Utilities

    Why Williams Companies’ acquisition of Access Midstream is solid

    Williams Partners (WMB) has a growing fee-based business model.

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

    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.

    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
  • uploads///gas _
    Company & Industry Overviews

    Cheniere Energy Signs a Long-Term Deal with Vitol Group

    On September 17, Cheniere Energy (LNG) announced that it signed a 15-year agreement to supply liquified natural gas to Vitol Group.

    By Vineet Kulkarni
  • uploads///Adjusted EBITDA
    Earnings Report

    Which Segment Will Drive Crestwood Equity’s 4Q15 Performance?

    Crestwood Equity Partners’ (CEQP) Gathering and Processing segment, which mainly provides natural gas gathering, processing, and compression services, saw its 3Q15 EBITDA fall by 9.7% YoY (year-over-year) as compared to 3Q14.

    By Kurt Gallon
  • uploads///EPS estimates
    Earnings Report

    Kinder Morgan Reported a Loss of $0.29 per Share in 4Q15

    Kinder Morgan (KMI) reported its 4Q15 earnings on January 20, 2016. Its 4Q15 actual earnings per share fell to -$0.29 from $0.08 in 4Q14.

    By Kurt Gallon
  • uploads///oks quarterly distributions
    Earnings Report

    Why Have OKS’s Distributions Been Flat for Last Three Quarters?

    On October 21, 2015, ONEOK Partners (OKS) declared a quarterly cash distribution of $0.79 per unit. OKS’s distributions remained flat for the third consecutive quarter.

    By Rekha Khandelwal, CFA
  • uploads///Gainers
    Macroeconomic Analysis

    Summit Midstream Partners: Midstream MLP Leader on October 9

    Summit Midstream Partners (SMLP) was the top gainer among midstream MLPs (master limited partnerships) at the end of trading on Friday, October 9. SMLP rose 5.1% on Friday.

    By Kurt Gallon
  • uploads///Total Returns
    Company & Industry Overviews

    Western Gas and Antero Midstream Underperformed AMLP

    Western Gas Partners and Antero Midstream Partners underperformed AMLP by 4.14 percentage points and 2.24 percentage points in term of the YTD returns.

    By Kurt Gallon
  • uploads///Losers
    Macroeconomic Analysis

    JP Energy Partners: Top Midstream MLP Loser on September 2

    JP Energy Partners (JPEP) was the top loser among midstream MLPs at the end of trading on September 2, falling 8.08%. JPEP stock has been on a roller coaster ride for the past few days.

    By Kurt Gallon
  • uploads///Gainers
    Macroeconomic Analysis

    American Midstream: Top Midstream MLP Gainer on August 25

    American Midstream Partners (AMID) was the top gainer among midstream MLPs at the end of trading on Tuesday, August 25. It rose 11.53% yesterday.

    By Kurt Gallon
  • uploads///Midstream Service Contract Types
    Company & Industry Overviews

    How Different Contracts Affect Master Limited Partnerships

    There are various types of contracts in energy MLPs that each have their own advantages and disadvantages.

    By Victor Cheng
  • uploads///How Dropdown works
    Company & Industry Overviews

    How Do Master Limited Partnerships Grow?

    MLPs normally pay out all the available cash to the unit holders in the form of quarterly cash distribution. They hold only the maintenance capital expenditure.

    By Victor Cheng
  • uploads///sweeny to pasadena
    Company & Industry Overviews

    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.

    By Keisha Bandz
  • uploads///clifton ridge
    Company & Industry Overviews

    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.

    By Keisha Bandz
  • uploads///PSXP prg structure
    Company & Industry Overviews

    Business overview: Phillips 66 Partners

    Phillips 66 Partners (PSXP) is a master limited partnership formed by Phillips 66 (PSX). PSXP operations are integral to PSX refineries.

    By Keisha Bandz
  • uploads///midwest pipe
    Company & Industry Overviews

    The MPLX Midwest product pipeline systems

    Canton to East Sparta consists of two parallel pipelines that connect MPC’s Canton refinery with the MPLX East Sparta, Ohio, breakout tankage and station.

    By Keisha Bandz
  • uploads///PAA earnings by segment
    Energy & Utilities

    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.

    By Keisha Bandz
  • Energy & Utilities

    Williams Partners to merge with Access Midstream in an MLP

    The merged MLP is expected to increase its 2015 distribution per unit to at least 25% above Access Midstream Partners’ (ACMP’s) current guidance of $2.79 per unit for 2015.

    By Alex Chamberlin
  • Energy & Utilities

    PAA’s 1Q14 earnings analysis: Why reported segment profits beat estimates

    Plains All American Pipeline (PAA) released its 1Q14 earnings analysis on May 7, 2014.

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

    Must-know: An introduction to Plains All American Pipeline

    Plains All American Pipeline L.P. (PAA) is a master limited partnership that operates in the midstream energy business.

    By Alex Chamberlin
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