Plains All American Pipeline LP
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 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.
McDermott Outperformed Peers for Second Week in a Row
Last week, MDR outperformed the energy sector for the second consecutive week. On June 5, MDR announced, “CCS JV, a joint venture between McDermott, Saipem and Chiyoda, has reached full agreement for a contract with Anadarko Petroleum Corporation for the Mozambique Area 1 Liquefied Natural Gas Development.”
Plains All American Pipeline: Recommendations and Price Targets
Plains All American Pipeline (PAA) stock has risen ~18% in 2019, outperforming the Alerian MLP ETF (AMLP), which is up 12% year-to-date.
Recent Changes in Enterprise Products Partners’ Short Interest
The short interest in Enterprise Products Partners (EPD) stock rose from 24.9 million shares on March 15 to 25.7 million shares on March 29.
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.
PAA, WMB, and OKE: Midstream Stocks Rose Last Week
Last week, Plains All American Pipeline (PAA), Williams Companies (WMB), and ONEOK (OKE) rose 2.5%, 2.3%, and 1.9%, respectively.
Enterprise Products’ Attractive Spread over Treasury Yield
Enterprise Products Partners (EPD) is trading at a yield of ~6.2%, which is ~380 basis points higher than the US ten-year Treasury yield.
Enterprise Products Partners Stock Is Trading Range-Bound
Enterprise Products Partners has risen ~15% in 2019.
Why Crude Oil Prices Drive Midstream Stocks
So far, US crude oil prices have risen ~25% in 2019. The strength in oil prices is reflected in energy stocks’ year-to-date performance.
TRGP, CQP, and NBLX: Top Midstream Gains and Losses
Targa Resources (TRGP) was the top midstream underperformer last week. Targa Resources fell 8.0% for the week.
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.
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.
ENLC, ALTM, SUN, and SHLX: Top Midstream Gains and Losses
EnLink Midstream Partners and EnLink Midstream (ENLC) fell 11.3% and 10.2%, respectively, last week.
PAA, ET, and KMI: Which Top Midstream Stocks Fell Last Week?
MLPs fell marginally in the week ending January 25. The Alerian MLP Index fell 0.6% last week.
Enterprise Products’ Earnings Are Expected to Rise 20% in Q4
Enterprise Products Partners (EPD) is scheduled to report its fourth-quarter results on January 31.
Highlights from Kinder Morgan’s Fourth-Quarter Earnings
Kinder Morgan reported its fourth-quarter earnings on January 16 after the markets closed. Kinder Morgan’s adjusted EPS grew ~19% YoY.
Is Plains All American Pipeline Stock a Good Bargain?
Plains All American Pipeline (PAA) stock offers an upside potential of 21%—compared to the median target price of $28.2.
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.
Midstream Stocks Underperformed the Broader Markets Last Week
Energy sector stocks tumbled in the week ended October 26. The midstream sector underperformed the broader markets.
KMI, EPD, ETE, and OKE: Key Midstream Rating Updates
Credit Suisse gave a “neutral” rating to Magellan Midstream Partners (MMP), ONEOK (OKE), and Sunoco (SUN).
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.
PAA, PSXP, HCLP: Key Rating Updates in the Last Week
Stifel changed its rating and price targets for quite a few MLPs in the last week.
KMI, OKE, WMB: Midstream Stocks Tumbled Last Week
Top midstream stocks including Kinder Morgan (KMI), Williams Companies (WMB), and ONEOK (OKE) fell last week.
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.
Why Plains All American Pipeline’s Mean Price Target Has Risen
On September 14, Morgan Stanley raised its price target for Plains All American Pipeline (PAA) from $27 to $28.
Weekly Wrap-Up: How Top Midstream Stocks Fared
Top midstream stocks Enterprise Products Partners (EPD) and Kinder Morgan (KMI) rose 0.9% and 0.7%, respectively, last week.
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.”
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?
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.
Trends in Enterprise Products Partners’ Volumes
Enterprise Products Partners (EPD) reported its second-quarter results on August 1. All four of the company’s segments reported higher earnings.
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.
A Closer Look at Permian Basin Takeaway Capacity Constraints
Permian Basin crude oil production has seen a dramatic rise in recent years.
Why Plains All American Pipeline Has Outperformed in 2018
Plains All American Pipeline (PAA) stock has risen ~14% so far in 2018 and outperformed many of its peers.
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” […]
What’s Expected for Plains All American Pipeline Stock
Of the 23 analysts covering Plains All American Pipeline (PAA), four recommend “strong buy,” six recommend “buy,” 12 recommend “hold,” and one recommends “strong sell.”
WTI Cushing-WTI Midland Spread Continued to Widen
In the week ending July 6, the WTI Cushing-WTI Midland spread widened for the second consecutive week. The spread widened to $12.8 per barrel.
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.
Should Investors Chase Buckeye Partners’ Monstrous Yield?
Buckeye Partners (BPL) was trading at a very high distribution yield of 14.6% on July 5.
Update: Anadarko Petroleum’s Delaware Basin Operations
According to Anadarko Petroleum (APC), the company’s Delaware Basin position is three times the size of its contiguous core DJ Basin footprint and holds 8,500 feet of stacked oil potential.
WTI Spreads Widened Last Week: Does It Impact MLPs?
The WTI Cushing-WTI Midland spread widened in the week ending June 15—compared to the previous week.
Midstream Operaters Are Scrambling to Build a Permian Takeaway
Amid concerns over Permian pipeline takeaway capacity, several pipeline projects have been announced or have come online recently to accommodate rising Permian production.
Is Buckeye Partners’ Distribution Yield Sustainable?
Buckeye Partners (BPL) was trading at a massive distribution yield of 13.5% as of June 13.
Midstream Companies with the Highest Returns over Five Years
Over the past five years, Oneok (OKE) has generated total returns of 125%, outperforming its peers.
MLPs Rallied despite Crude Oil’s Weakness Last Week
MLPs rallied despite crude oil’s weakness last week. The Alerian MLP Index (^AMZ) rose 2.7% during the week and ended at 269.1.
WES Increased 2018 Capital Guidance, DCP Announced New Projects
In this article, we’ll look at the 2018 capital spending plans of the four selected peers.
Top MLP Losses in the Week Ending May 25
Legacy Reserves (LGCY) was the top MLP loss last week. Legacy Reserves fell 36.2% mainly due to the weakness in crude oil prices.
MLPs Rose Due to Strong Crude Oil and Higher Drilling Activity
The Alerian MLP Index (^AMZ), which includes 50 energy MLPs, rose 3.1% last week and ended at 267.6.
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.
Is Energy Transfer Partners Exploring a C Corporation Structure?
High leverage and a complex capital structure have been a drag on Energy Transfer Partners’ market performance.
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.
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.
Race for Permian Continues, EPD and ETP Form New Joint Venture
The race for the Permian region continues as the country’s largest midstream companies, Enterprise Products Partners (EPD) and Energy Transfer Partners (ETP), come together.
MLPs Cooled Off after Rallying for 2 Consecutive Weeks
MLPs cooled off in the week ending April 27. Out of the total 92 MLPs, 45 ended in the red, three remained unchanged, and 44 ended in the green.
Enterprise Products’ Distributable Cash Flow Rose 23% in 1Q18
Enterprise Products Partners reported its 1Q18 results on April 30. The company reported 23% YoY growth in its distributable cash flow.
Will 1Q18 Earnings Support Enterprise Products Partners Stock?
So far, Enterprise Products Partners (EPD) stock has risen ~1% in 2018. The stock has outperformed the Alerian MLP ETF (AMLP).
Wall Street Analysts See a 30% Upside for Kinder Morgan
On April 17, 2018, Barclays cut its target price for Kinder Morgan (KMI) from $23 to $20.
MLP Rating Updates for the Week Ending April 13
Credit Suisse initiated coverage on CVR Refining (CVRR) with a “neutral” rating and assigned a target price of $14.
MLPs Recovered Slightly amid Strong Crude Oil Gains
US crude oil rose 8.6% last week and ended at $67.4 per barrel. Geopolitical tension increased due to the crisis in Syria.
61% of Analysts Call Magellan Midstream Partners a ‘Buy’
On April 11, 2018, Mizuho cut Magellan Midstream Partners’ (MMP) price target from $72 to $66.
Short Interest in Magellan Midstream Partners Rose Recently
Short interest as a percentage of float in Magellan Midstream Partners (MMP) is currently ~1.9% compared to 1.4% in mid-March 2018.
MMP Expects 2.8% Growth in Its 2018 Distributable Cash Flow
Magellan Midstream Partners (MMP) expects its 2018 DCF (distributable cash flow) to be $1.1 billion—2.8% higher than its 2017 DCF. Its DCF rose 7.8% in 2017.
Magellan Midstream Has Fallen 11% Year-to-Date—What’s Ahead?
Magellan Midstream Partners (MMP) stock has fallen nearly 11% so far in 2018.
PAA, CNXM, and VNOM: Top MLP Gainers in a Down Sector
While energy MLPs have been broadly beaten down in 2018, some MLPs have posted handsome gains YTD (year-to-date).
New Permian Pipeline Projects: Corpus Christi Key Destination
As production in the Permian increases, pipeline capacity should become more crucial for Permian producers.
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.
Short Interest in Plains All American Pipeline Fell 15%
The short interest in Plains All American Pipeline (PAA) as a percentage of its float is 2.2%—lower compared to 2.6% in mid-February 2018.
How Crude Oil Prices Could Impact Energy MLPs in 2018
In this series, we’ll look at some of the key indicators that impact MLP performance in the long term.
Could a Dividend Increase Support Kinder Morgan Stock?
Kinder Morgan expects to generate $4.6 billion of distributable cash flow for 2018.
Can Plains All American Pipeline Regain Upward Momentum?
Plains All American Pipeline (PAA) fell below its short-term (50-day) and long-term (200d) moving averages.
Why MLPs Underperformed the Energy Sector Last Week
MLPs underperformed the energy sector and the broader US markets last week. Let’s take a look.
Last Week’s Must-Know MLP Ratings Updates
CVR Partners (UAN) got an upgrade from Cowen and Company last week. CVR raised UAN to “outperform,” which is equivalent to a “buy.”
Last Week’s Top MLP Gainers: Calumet and More
Calumet Specialty Products Partners (CLMT), a downstream MLP involved in the production of specialty fuels, was the top MLP gainer last week.
MLPs Recover Marginally after 2 Weeks of Hammering
MLPs recovered marginally last week after two weeks of hammering. Here’s what you need to know.
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.
MLPs’ Strong Earnings Growth Continued in 4Q17
After a solid 3Q17, master limited partnerships’ strong earnings performances continued in 4Q17.
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.
Enterprise Products Partners to Spend $3 Billion on Growth
Enterprise Products Partners (EPD) spent $3.4 billion on capital projects in 2017.
How ETE’s Distribution Coverage Trended in 2018
Energy Transfer Equity (ETE) reported distributable cash flows of $263 million in 4Q17 compared to $299 million in 4Q16.
60% of Top Midstream Companies Have Lower Mean Price Targets Now
Six out of the top ten midstream companies currently have a lower mean price target than they had a year ago.
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.
Plains All American’s 4Q17 Distributable Cash Flow Rose 15%
Plains All American Pipeline (PAA) reported its 4Q17 results on February 6, 2018. The company’s DCF (distributable cash flow) for 2017 fell 7% compared to 2016, while its DCF for 4Q17 rose 15% year-over-year.
What Could Limit Plains All American Stock’s Upward Movement
Plains All American Pipeline (PAA) stock underperformed peers in the last year period. PAA fell 28% in the last 12 months.
Why Short Interest in Plains All American Pipeline Rose 17%
Short interest in Plains All American Pipeline (PAA) as a percentage of its float is 2.9%—higher than the 2.5% it recorded at the end of December 2017.
Plains All American Pipelines’ Key Upcoming Capital Projects
Plains All American Pipeline (PAA) invested ~$279 million in capital projects in 3Q17 and ~$893 million in the nine months ended September 30, 2017.
The Alerian MLP Index Has Risen 10.0% in January
The Alerian MLP Index (^AMZ) rose 2.3% last week and ended at 302.7. Overall, the index has risen 10.0% since the beginning of the year.
Why PAA Was the Biggest MLP Loser Last Week
Plains All American Pipeline (PAA) was the biggest MLP loser last week, which ended on January 19, 2018. The partnership ended the week 6.1% lower.
MLPs Cool Off after a Strong 2-Week Rally
MLPs (master limited partnerships) cooled off last week, which ended on January 19, after two weeks of a strong rally.