AMLP: What’s Next for Midstream MLPs after a Rebound?
Midstream MLPs have recovered after hitting multiyear lows early this month. The ALPS Alerian MLP ETF (AMLP) is up more than 10% in the last two weeks.
AMLP: What’s Next for Midstream MLPs after a Big Fall?
The ALPS Alerian MLP ETF (AMLP), the representative of the top MLPs in the US, plunged to record lows last week. It’s trading near its all-time low of $7.7.
Midstream Stocks Approach 52-Week Lows: Time to Buy?
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.
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.
Top Midstream Energy Stocks: What Analysts Got Wrong
Despite stable earnings and dividend growth, MLP stocks are depressed. We look at the top midstream energy stocks’ performance in the past 12 months.
These 5 Refiners Make Half the Crude Oil in the US
The total refiners capacity in the US is around 18.8 million barrels per calendar day. The refinery utilization rate in 2018 was 93%.
Analyzing the Top 5 MLPs That Analysts Recommend
In this article, we’ll look at five MLPs with at least 90% buy ratings: EPD, MPLX, Energy Transfer, Viper Energy Partners, and Black Stone Minerals.
MPLX Is Trading at Attractive Yield of 8.5%
MPLX’s average yield for the last five years is ~5.6%.
Will Andeavor Logistics’ Acquisition Support MPLX Stock?
MPLX (MPLX) has underperformed its midstream peers so far in 2019. The stock is up only ~1% so far in 2019.
MPLX to Acquire ANDX to Create a Large Midstream Company
On May 8, Marathon Petroleum (MPC), MPLX LP (MPLX), and Andeavor Logistics LP (ANDX) announced that MPLX would acquire ANDX.
How EPD Is Expected to Perform ahead of Its Earnings
In this article, we’ll take a look at how Enterprise Products Partners (EPD) stock may perform leading up to its earnings release on May 1.
Top Midstream Stocks Offer Yields above 7%
Let’s take a look at midstream stocks trading at attractive yields. The stocks have a market capitalization of over $5 billion and yields over 7.0%.
What Might Cap Rising Crude Oil Prices?
The US crude oil (USO) supply includes domestic production and imports. The supply gets consumed as inputs to refineries and exports.
Why Energy Transfer’s Distribution Yield Looks Attractive
Energy Transfer (ET) offers a distribution yield of 7.9%, which is higher than its five-year average yield.
KMI, ET, and PAA: How Midstream Stocks Fared Last Week
Midstream stocks ended mixed last week. The Alerian MLP Index fell 0.3%, while XLE fell 0.5% last week.
Who Added Big Positions in MPLX in Q4 2018?
According to its latest 13F filing, Tortoise Capital Advisors sold net ~0.9 million shares of MPLX (MPLX) and held 3.4% of its total outstanding shares as of December 31.
What Does Kinder Morgan’s Earnings Trend Indicate?
Kinder Morgan’s (KMI) normalized EBITDA grew 8% in 2018. The growth follows a fall of 6% in Kinder Morgan’s EBITDA in 2017.
EPD Expects to Complete $4.5 Billion of New Projects in 2019
Enterprise Products Partners (EPD) spent ~$4.2 billion on growth projects in 2018.
EPD, MMP, MPLX: How Their Earnings Growth Stacks Up
In this series, we’ll look at the YoY EBITDA growth and capital expenditure for Enterprise Products Partners (EPD), Magellan Midstream Partners (MMP), and MPLX (MPLX).
Did Magellan Midstream Partners’ Fall Make It Attractive?
Magellan Midstream Partners (MMP) reported its fourth-quarter results on January 31. The company reported a DCF of $302 million.
Top Midstream Stocks Ended Last Week with Gains
The top midstream sector stocks including Energy Transfer (ET), MPLX (MPLX), and Kinder Morgan (KMI) rose during the week ending February 1.
Analysts Are Bullish on EPD, MMP, and MPLX
Among the 23 analysts covering Enterprise Products Partners, 12 rated it as a “strong buy,” ten rated it as a “buy,” and one rated it as a “hold.”
Total Returns: EPD, MMP, and MPLX Outperformed the Energy Sector
While MLP stock prices might fall, they might still generate positive total returns for investors due to their yield returns.
Why Are EPD, MMP, and MPLX’s Yields Attractive?
Enterprise Products Partners, Magellan Midstream Partners, and MPLX are trading at attractive yields of 6.4%, 6.5%, and 7.6%.
Top Three MLPs for Income Investors
There’s a widespread consensus that the worst is over for the MLP sector. Savvy investors seem to be willing to give the sector a second chance.
Midstream Stocks Gained for the Third Straight Week
Midstream stocks and MLPs continued to gain in the third week of 2019. The Alerian MLP Index rose 1.9% in the week ending January 18.
High-Yield MLPs: What Wall Street Recommends
Energy Transfer (ET) stock was rated a “strong buy” or “buy” by 88% of analysts surveyed by Reuters.
7 MLPs Offering a Yield above 7%
MLPs are performing well in 2019. In this series, we’ll take a look at MLPs trading at a yield higher than 7%.
How Top Midstream Stocks Could Perform in 2019
With simplified structures and greater financial discipline, MLPs look better-equipped to perform in the volatile commodity price environment.
MPLX Stock Looks Attractive
MPLX’s (MPLX) median target price is $41.4, which implies an upside potential of more than 25% from its current price of $33.0.
MPLX Stock: Analysts Expect 22% Upside
MPLX’s mean target price is $42. The target price implies an upside potential of ~22% from MPLX’s current price of $34.5.
The MLP-Treasury Yield Spread Contracted Marginally in Q3
The yield spread between the Alerian MLP Index yield and the US ten-year Treasury yield contracted to 5.0% at the end of Q3 from 5.1% at the end of Q2.
EPD, MPLX, ETP, PAA: What Do Current Valuations Indicate?
Andeavor Logistics, Magellan Midstream Partners, and Plains All American Pipeline, top Alerian MLP Index constituents by market capitalization, are trading at price-to-DCF ratios higher than the peer average.
EPD, ETE, PAA, and MMP: What Do Analysts Recommend?
All of the analysts surveyed by Reuters covering Enterprise Products Partners (EPD) and MPLX (MPLX) rated the stocks as “buy.”
PAA and EPD Have Outperformed Their Peers in 2018
Plains All American Pipeline (PAA) has risen ~14% in 2018 and outperformed its MLP peers. Enterprise Products Partners (EPD) has risen 8%.
Are Rising Treasury Yields behind the Higher MLP Yields?
The Alerian MLP Index is trading at a yield of ~7.9%, which is ~5% higher than US ten-year Treasury yields.
US Crude Oil Production Continues to Rise
The US crude oil production was 11 million barrels per day for the week ending September 14, according to data from the EIA.
Will Crude Oil Prices Support Energy MLPs?
In the September Short-Term Energy Outlook report, the EIA expects WTI crude oil prices to average $67 per barrel in 2018 and $68 per barrel in 2019.
OKE, ETE, MPLX, PAA: How Top Midstream Stocks Fared Last Week
After a 0.4% gain in the previous week, the Alerian MLP Index fell 0.5% last week. The Index is up 1.2% YTD (year-to-date), whereas on a total return basis—which includes distributions—the index is up ~7.3% YTD.
MPLX: Why Are Analysts So Bullish?
Analysts seem to be bullish on MPLX. Among the 16 analysts tracking MPLX, eight recommended a “strong buy,” while eight recommended a “buy.”
A Look at Last Week’s Worst Midstream Performances
Hi-Crush Partners (HCLP) fell 5% during the week that ended on August 24. The stock has been on a downward trajectory for over a month.
Weekly Wrap-Up: Last Week’s Key Midstream Sector Updates
Crude oil prices rose ~4.3% last week, and the Energy Select Sector SPDR ETF (XLE) rose 2.7%. How did top midstream stocks fare?
EPD and MPLX Have High Earnings Growth
Kinder Morgan’s adjusted EBITDA grew 7% YoY in the second quarter. The EBITDA grew at an average rate of 4% over the last six quarters.
KMI and WMB Saw a Rise in the Short Interest
The short interest in Enterprise Products Partners (EPD) fell 9.4% from 8.5 million shares on July 13 to 7.7 million shares on July 31.
Analyzing Kinder Morgan’s Discounted Valuation
Kinder Morgan’s multiple is 27% lower than its five-year average. Kinder Morgan’s lower multiple could be due to analysts’ lower growth expectations.
Why MPLX’s 6.6% Yield Is Attractive
Enterprise Products Partners and MPLX’s distributions have been on an upward trend. However, MPLX’s distributions grew faster.
Enterprise Products Has Outperformed Its Peers in 2018
So far, Enterprise Products Partners (EPD) has risen ~9% in 2018. The company has outperformed its peers in the midstream sector.
MLPs’ Strong Earnings Growth Continued in Q2 2018
Of the top 15 MLPs by market cap, 13 reported YoY (year-over-year) rises in their quarterly revenues and earnings.
Hi-Crush Partners’ Sand Volumes Rose 16% in Q2 2018
Hi-Crush Partners reported its second-quarter results on July 31 after the markets closed. The company reported an adjusted EBITDA of $81.5 million.
Plains All American Pipeline Expects Flat Earnings for Q2
Plains All American Pipeline (PAA) will release its Q2 results on August 7 after the markets close.
MLP Top Gainers: Hi-Crush Partners Led the Rally Last Week
Hi-Crush Partners (HCLP), a frac sand producer, was the top MLP gainer last week with a massive 40.6% rally driven by positive announcements.
MLP Rally Continues: Alerian MLP Index in Green for Fourth Week
The strong positive momentum for MLPs continues. The Alerian MLP Index with 44 energy MLPs ended in the green last week.
MPLX Had Higher Volumes and Acquired Assets
MPLX’s (MPLX) Logistics and Storage segment’s adjusted EBITDA nearly tripled from $184 million in Q2 2017 to $526 million in Q2 2018.
Why Analysts Are Bullish on MPLX Stock
Ratings for MPLX On July 18, Jefferies raised MPLX’s (MPLX) rating to “buy” and raised the target price for the stock to $38. Of the analysts surveyed by Reuters covering MPLX, 50% rate the stock as a “strong buy” and 50% rate it as a “buy.” None of the analysts rated MPLX as a “hold” […]
Which Top Midstream Companies Have an Attractive Upside
Of the top midstream companies we’ve discussed in this series, only ONEOK (OKE) and Cheniere Energy (LNG) have met analysts’ mean price targets from a year ago.
EPD, MPLX, ETP, and PAA: Analysts’ Recommendations
Of the four MLPs that we’re discussing in this series, Enterprise Products Partners (EPD) received the most “buy” recommendations.
Energy Transfer Partners’ Leverage Is Improving
Energy Transfer Partners’ (ETP) net debt-to-adjusted EBITDA stands at ~5.1x—the highest among the four MLPs that we’re discussing in this series.
ETP, MPLX, and EPD: Top MLPs Are Trading at Attractive Yields
Energy Transfer Partners is trading at a high yield of ~11.8%. MPLX and Enterprise Products Partners are trading at attractive yields of 7.3% and 6.2%.
EPD, ETP, and MPLX: Are the Top MLPs Undervalued?
Enterprise Products Partners (EPD) is trading at a forward EV-to-EBITDA multiple of ~13x—lower than its five-year average multiple of 14.4x.
Plains All American Pipeline Has Outperformed Its Peers in 2018
So far in 2018, Plains All American Pipeline (PAA) stock has risen nearly 10% and outperformed its peers.
MPLX LP Places Third in Terms of Analyst Ratings
In terms of analysts ratings, MPLX LP (MPLX), a diversified midstream MLP owned by Marathon Petroleum (MPC), places third among the seven midstream companies we’re looking at.
AMZ and the Treasury Yield Spread Narrowed
So far, the US Treasury yield has risen by 53 basis points YTD. At the same time, AMZ’s yield has increased by 12 basis points.
Here’s What Makes MPLX an Interesting Stock
MPLX generated total returns, including distributions, of 17% in the last year. Its total returns over five years stand at 28%.
How Midstream Stocks Fared over the Last Three Years
With strengthening oil prices, investor interest in the energy sector is on the rise. Many wonder if now is the right time to invest.
Harvest Fund Advisors Added Major Positions in PAA in Q1 2018
In this article, we’ll look into the institutional activity in Plains All American Pipeline (PAA) during the first quarter.
What Did Institutional Investors Do with Their Positions in EPD?
The number of institutional holders in Enterprise Products Partners fell to 1,063 by the end of the first quarter.
MLPs’ Strong Earnings Growth Continued in 1Q18
Master limited partnerships or MLPs saw continued strong earnings growth in 1Q18 after a solid fourth quarter of 2017.
KMI, EPD, WPZ, MPLX: Analysts Are Bullish on Midstream Companies
Of the analysts covering Kinder Morgan (KMI), 64% recommended “buy,” and 36% recommended “hold.”
KMI, EPD, WPZ, and MPLX: A Leverage Comparison
Kinder Morgan’s (KMI) net debt stood at $37.0 billion at the end of 1Q18, $331 million higher quarter-over-quarter.
Higher Permian Volumes Drove Plains All American’s 1Q18 Results
Plains All American Pipeline reported its 1Q18 results on May 8 after the market closed. The company reported 16% YoY growth in the adjusted EBITDA.
What Analysts Recommend for ETP and ETE before 1Q18 Earnings
About 72% of the analysts surveyed by Reuters rate Energy Transfer Equity (ETE) a “buy” as of May 1, and 28% rate it a “hold.”
ONEOK’s 1Q18 Earnings Rose 24% Due to Higher Volumes
ONEOK (OKE) reported its 1Q18 results yesterday. The company’s adjusted EBITDA grew 24% YoY in 1Q18.
Genesis Energy Is Trading at a Discount despite Strong Earnings
Genesis Energy is expected to post 27.4% YoY EBITDA growth in the first quarter of 2018 compared to 1Q17.
Top Earnings Growth Expected from Midstream Companies in 1Q18
In this series, we’ll look at the top ten midstream companies based on earnings growth expectations for 1Q18.
Energy Transfer Duo Offers High Upside Potential
Energy Transfer Partners and Energy Transfer Equity are among the top midstream companies that offer high upside potentials.
Kinder Morgan: What Wall Street Analysts Say
On March 21, 2018, Bank of America upgraded Kinder Morgan (KMI) stock to “buy” from “neutral,” with a price target of $20.00.
What MLPs’ Current Valuations Indicate
MLPs on average are currently trading at an EV-to-EBITDA multiple of 9.0x.
Who’s Protected from FERC’s Revised Income Tax Policy?
Midstream companies such as Kinder Morgan (KMI), Targa Resource (TRGP), and ONEOK (OKE) are taxed as C-corps, so the revised policy doesn’t apply to them.
What Does MPLX LP’s Current Distribution Yield Indicate?
About 78.9% of analysts rate MPLX LP as a “buy,” and the remaining 21.1% rate it as a “hold.”
What’s Driving the Jump in MPLX LP’s Capital Spending?
MPLX LP (MPLX) expects its 2018 capital expenditure to be ~$2.4 billion, which represents a 47.0% increase compared to the previous year.
What Are Institutional Investors Doing with Positions in PAA?
Harvest Fund Advisors and CIBC Atlantic Trust Private Wealth Management added major positions in Plains All American Pipeline during the fourth quarter.
Tortoise Capital Advisors Bought ~40 Million Shares of ETP
Energy Transfer Partners (ETP), the MLP subsidiary of Energy Transfer Equity (ETE), saw massive buying from institutional investors for the second consecutive quarter.
Tortoise Capital Advisors Became Top Institutional Holder in MPLX
Bank of America Merrill Lynch and Citi Investment Research were the biggest sellers in MLPX LP (MPLX) during the fourth quarter.
BMO Capital Markets Unloaded Major Position in EPD
The Alerian MLP Index (AMZ), which consists of 50 energy MLPs, lost 2.8% during the fourth quarter despite strong crude oil prices.
MLPs’ Strong Earnings Growth Continued in 4Q17
After a solid 3Q17, master limited partnerships’ strong earnings performances continued in 4Q17.
Why ETP Might Not See Rating Updates despite Strong 4Q Earnings
75.0% of analysts surveyed by Reuters rate Energy Transfer Partners (ETP) a “buy” as of February 21, 2018, and the remaining 25.0% rate it a “hold.”
What’s ETE’s and ETP’s Price Forecast after 4Q17 Earnings?
Energy Transfer Equity (ETE) and Energy Transfer Partners (ETP) have been very volatile since the start of this year.
MLP Rating Updates during the Week Ending February 9
In the week ending February 9, MPLX LP (MPLX) was on Wall Street analysts’ radar for the second consecutive week.
The MLP-Treasury Yield Spread Widens
The yield spread between the Alerian MLP Index (^AMZ) and the ten-year Treasury has widened due to the recent correction.
ONEOK Has the Second-Highest Correlation with Crude Oil
ONEOK (OKE), an S&P 500 midstream C corporation, has the second-highest correlation with crude oil among midstream companies.
A Sneak Peek at Williams Partners’ 4Q17 Gathering Volumes
Williams Partners, the largest natural gas gatherer in the Marcellus and Utica regions, is expected to see strong volume growth in the regions in the fourth quarter.
Antero Midstream Has a 37% Upside Potential from Current Levels
Antero Midstream Partners has lost 8.4% since the beginning of this year.
Reading the Top Institutional Holders in MPLX
Among the top institutional holders, 9.33 million positions were added in 3Q17, which indicates a bullish sentiment toward MPLX.
Why 3Q17 Was Good for MLPs
In this series, we’ll review 3Q17 earnings results for some mid-to-large cap limited partnerships.
What Analysts Recommend for ETP and ETE ahead of the 3Q17 Results
Of the analysts surveyed by Reuters, 71.0% recommend a “buy” for Energy Transfer Equity (ETE), and the remaining 29.0% of analysts recommend “hold.”
Last Week’s Top MLP Gainers
CVR Partners (UAN), the MLP mainly involved in the production of nitrogen fertilizers, was the top MLP gainer last week. CVR Partners rose 7.7%.
Higher Volumes, Acquired Assets Drove MPLX’s 3Q17 Earnings Growth
MPLX’s (MPLX) Gathering and Processing segment contributed 62% of MPLX’s 3Q17 operating income.
Understanding MPLX’s 5th Position in the Top 7 MLPs
MPLX’s “buy” rating percentage has risen from 68% at the end of 2016 to 94% as of September 28, 2017.
The Top 7 Analyst Favorite MLPs
Antero Midstream Partners, Viper Energy Partners, and Hoegh LNG Partners have the most “buys” among all the publicly traded limited partnerships.
What MPLX’s Current Distribution Yield Indicates
MPLX (MPLX) declared a distribution of ~$0.56 per common share for 2Q17. That represents a 4.2% sequential increase and a 10.3% increase over 2Q16.