Spectra Energy Partners LP

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  • An investor’s guide to Spectra Energy Corp. and its earnings
    Energy & Utilities

    An investor’s guide to Spectra Energy Corp. and its earnings

    Spectra Energy Corp. (SE), headquartered in Houston, Texas, owns and operates a large and diversified portfolio of natural gas–related assets in North America.

    By Keisha Bandz
  • uploads///Sales and Gross Profit of Midstream Companies
    Macroeconomic Analysis

    Midstream Companies’ Performances: Sales and Gross Profit

    In fiscal 3Q15, the gross profit of frontline midstream operator Williams Companies (WMB) fell 28.6% on a YoY basis. Williams Companies’ sales grew by 11.3%.

    By Rabindra Samanta
  • uploads///Growth In Debt of Midstream Companies
    Macroeconomic Analysis

    Most Midstream Companies Increased Debt in 3Q15

    The total debt for Williams Companies (WMB) and Energy Transfer Equity (ETE) grew by 87% and 32%, respectively, on a YoY (year-over-year) basis in fiscal 3Q15.

    By Rabindra Samanta
  • uploads///Gainers
    Macroeconomic Analysis

    Spectra Energy Partners Rallies Due to a Rise in 3Q15 Distribution

    Spectra Energy Partners declared a distribution per unit of $0.62 in a press release published on October 19. This is a 1.3% rise compared to 2Q15.

    By Kurt Gallon
  • uploads///WPZ
    Company & Industry Overviews

    Are Institutional Investors Bullish on Williams Partners?

    The number of institutional holders in Williams Partners (WPZ), the midstream MLP subsidiary of Williams Companies (WMB), increased to 355 by the end of the fourth quarter compared to 340 in the previous quarter.

    By Kurt Gallon
  • 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
  • uploads///image
    Miscellaneous

    ETE’s Implied Volatility Rises ahead of Its Earnings

    On February 17, 2017, Energy Transfer Equity (ETE) had an implied volatility of 41.6%, the highest among the midstream companies that make up the Alerian MLP ETF (AMLP).

    By Rabindra Samanta
  • uploads///Revenues
    Earnings Report

    Spectra Energy reports mainly strong revenues and profits

    From 4Q13 to 4Q14, EBITDA jumped for Spectra Energy Partners and the Western Canada Transmission & Processing segments. But, Field Services recorded a loss.

    By Alex Chamberlin
  • uploads///Midstream Return
    Miscellaneous

    Which Volatile Midstream Stocks Have Been Moving Lately?

    As we saw in the previous article, Energy Transfer Equity (ETE) had the highest implied volatility among the midstream companies that are part of the Alerian MLP ETF (AMLP).

    By Rabindra Samanta
  • uploads///Worst
    Macroeconomic Analysis

    Cone Midstream: Worst Midstream MLP Performer on August 28

    Cone Midstream Partners (CNNX) was the worst performer among midstream MLPs at the end of trading on Friday, August 28. It fell 0.61%.

    By Kurt Gallon
  • uploads///broker recommendations
    Earnings Report

    What Does the Future Hold for Spectra Energy?

    Of the analysts surveyed by Bloomberg, 39% rate Spectra Energy (SE) as a “buy,” and 55.5% rate the stock as a “hold.” Only 5.5% rate it as a “sell.”

    By Rekha Khandelwal, CFA
  • uploads///return
    Miscellaneous

    Midstream Stocks: How Returns Affect Implied Volatility

    Teekay LNG Partners (TGP) stock has risen 37.9% in the past year as of March 20, 2017.

    By Rabindra Samanta
  • uploads///NSPC
    Earnings Report

    A Look at BWP’s Credit Exposure following Its 1Q16 Earnings

    BWP has returned 26.6% since the beginning of 2016. Spectra Energy Partners, Cone Midstream Partners, and TC Pipelines have returned 4.4%, 44.4%, and 10.5%.

    By Kurt Gallon
  • uploads///Analyst recommendation
    Earnings Report

    Analysts’ Recommendations for Williams Partners

    At a broader level, ~50% of analysts surveyed by Bloomberg rate Williams Partners a “buy” and the remaining ~50% rate it a “hold.”

    By Kurt Gallon
  • uploads///nspc
    Earnings Report

    Why Boardwalk Pipeline Partners Stock Is Weak before Its 2Q17 Results

    Boardwalk Pipeline Partners’ distribution has remained flat at $0.20 per unit since its distribution cut.

    By Kurt Gallon
  • uploads///featured image
    Company & Industry Overviews

    TC PipeLines Has Fallen 37% Year-to-Date: What’s Ahead?

    TC PipeLines doesn’t believe the FERC’s policy change will have a material impact on its natural gas pipeline rates.

    By Rekha Khandelwal, CFA
  • uploads///Returns Midstream
    Miscellaneous

    Why High Implied Volatility Midstream Stocks Move More Sharply

    NGL Energy Partners (NGL) has risen 127.9% in the last year, which is the highest among high implied volatility midstream stocks.

    By Rabindra Samanta
  • uploads///p
    Energy & Utilities

    TC Pipelines Was the Top Energy Loser Last Week

    On March 9–16, TC Pipelines, Enbridge Energy Partners, Dominion Energy Midstream Partners, and Spectra Energy Partners were the top energy losers.

    By Rabindra Samanta
  • uploads///PAA earnings
    Fund Managers

    Magnetar Capital Increases Its Stake in Plains Group Holdings

    During 4Q14, Magnetar Capital increased its position in Plains Group Holdings. It represents 2.36% of the fund’s portfolio at the end of the fourth quarter.

    By Santiago Solari
  • uploads///SEP
    Earnings Report

    How US Tax Cuts Impacted Spectra Energy Partners’ 4Q17 Earnings

    Spectra Energy Partners reported operating revenue of -$138 million in 4Q17.

    By Kurt Gallon
  • uploads///KMI Org Chart
    Company & Industry Overviews

    Kinder Morgan Consolidation: What It Means for the MLP Market

    On November 26, 2014, Kinder Morgan acquired all of its equity interests in Kinder Morgan Partners, El Paso, and Kinder Morgan Management.

    By Kurt Gallon
  • uploads///AMLP
    Macroeconomic Analysis

    AMLP Rises Last Week, but Less than OIH and XOP

    AMLP holds midstream MLPs whose earnings are typically linked to their transported volumes of energy products.

    By Keisha Bandz
  • uploads///PAA STOCK
    Earnings Report

    A closeup of Plains All American Pipeline’s stock performance

    After its 4Q14 earnings announcement, Plains All American Pipeline’s (PAA) stock performance improved, jumping slightly by 1.6%.

    By Keisha Bandz
  • uploads///ANR
    Earnings Report

    Analyst Recommendations for Kinder Morgan: ‘Buy’ or ‘Hold’?

    In this part of the series, we’ll look at what Wall Street analysts recommend for Kinder Morgan (KMI).

    By Kurt Gallon
  • uploads///Assets
    Company & Industry Overviews

    A Review of Energy Transfer Partners’ Business Segments

    ETP operates primarily through its six business segments by leveraging its huge asset base.

    By Kurt Gallon
  • uploads///Revenues
    Company & Industry Overviews

    An overview of Spectra Energy’s 3Q14 earnings

    Spectra Energy’s earnings increased due to expansion projects and higher crude oil transportation revenues.

    By Alex Chamberlin
  • uploads///midstream
    Miscellaneous

    Kinder Morgan and Spectra Energy above 20-Day Moving Averages

    Midstream companies are trading well below their 20-day moving averages except for Kinder Morgan and Spectra Energy Partners.

    By Rabindra Samanta
  • 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///midstream
    Miscellaneous

    What Do Analysts Expect from Large-Cap Midstream Companies?

    Analysts’ consensus estimates suggest an impressive 69% upside for midstream companies—compared to 44% upside for large-cap upstream companies.

    By Rabindra Samanta
  • uploads///SEP
    Company & Industry Overviews

    Institutional Activity in Spectra Energy Partners in 2Q17

    Neuberger Berman and Tortoise Capital Advisors unloaded major positions in Spectra Energy Partners (SEP), the MLP now owned by Enbridge (ENB), in 2Q17.

    By Kurt Gallon
  • uploads///spectra energy is up  percent in
    Earnings Report

    Will Spectra Energy Keep Outperforming in 2016?

    Spectra Energy (SE) has risen 27% since the start of 2016. Will this improvement last?

    By Rekha Khandelwal, CFA
  • uploads///Stock Price and Distribution
    Miscellaneous

    Why Crestwood Midstream Investors May Not Like the Merger

    Crestwood Midstream (CMLP) investors don’t seem satisfied with the expected distribution growth. CMLP stock 5.81% the day after the merger announcement and 11.6% on May 26.

    By Kurt Gallon
  • uploads///SEPs Fees Based Businesses
    Energy & Utilities

    Why Spectra Energy Partners is integral to Spectra Energy Corp.

    Spectra Energy Corp. (SE) was borne out of Duke Energy Corporation (DUK), which is an energy utility firm, forming Spectra Energy Partners (SEP) in 2007.

    By Keisha Bandz
  • 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///digital tax
    Consumer

    Could Digital Tax Add Fuel to Trump’s Trade War?

    India might place a digital tax on big tech companies. Taxing big tech companies is a good way for governments to increase their revenues.

    By Mohit Oberoi, CFA
  • uploads///prod
    Earnings Report

    Cabot’s Q2 2018 Production Highlights: Forecasts for 2018

    Cabot Oil & Gas has provided third-quarter production guidance of 2.1 billion–2.2 billion cubic feet per day.

    By Keisha Bandz
  • uploads///Loss
    Miscellaneous

    Top MLP Losses in the Week Ending June 1

    Golar LNG Partners was the top MLP loss last week. Golar LNG Partners fell 24.1%. The company has lost 33.6% since the beginning of this year.

    By Kurt Gallon
  • uploads///anr
    Miscellaneous

    MLP Rating Updates for the Week Ending May 25

    Spectra Energy Partners’ average target price of $37.1 implies ~21% upside potential from the current price levels.

    By Kurt Gallon
  • uploads///Loss
    Energy & Utilities

    Top MLP Losses in the Week Ending May 18

    Teekay Offshore Partners (TOO) was the top MLP loss in the week ending May 18. Teekay Offshore Partners fell 4.2%.

    By Kurt Gallon
  • uploads///BWP
    Energy & Utilities

    At Its All-Time Low, BWP Offers Maximum Upside Potential

    Boardwalk Pipeline Partners, a midstream MLP mainly involved in natural gas and natural gas liquids transportation, saw a new all-time low recently.

    By Kurt Gallon
  • uploads///Loss
    Energy & Utilities

    Which MLPs Lost 10% or More Last Week?

    Dominion Midstream Energy Partners (DM) and Spectra Energy Partners (SEP) were among the top three MLPs losses last week.

    By Kurt Gallon
  • uploads///Loss
    Energy & Utilities

    Last Week’s Biggest MLP Losses

    MLPs with heavy exposure to Interstate Pipelines lost the most last week. TC PipeLines (TCP) recorded the highest losses.

    By Kurt Gallon
  • uploads///ANR
    Energy & Utilities

    TCP, EEP, and SEP: What Wall Street Analysts Recommend

    The revised FERC tax ruling will likely have a negative impact on interstate pipeline operators’ earnings.

    By Kurt Gallon
  • uploads///stock _
    Energy & Utilities

    Why TCP, EEP, and SEP Fell after FERC Tax Ruling

    MLPs had a bad Thursday after the FERC (Federal Energy Regulatory Commission) revised its income tax policy for MLPs.

    By Kurt Gallon
  • uploads///anr
    Basic Materials

    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.”

    By Kurt Gallon
  • uploads///WPZ distribution
    Company & Industry Overviews

    Can WPZ Meet Its Distribution Growth Targets for 2018?

    Based on its recent quarter distribution, Williams Partners is trading at a distribution yield of 6.5%.

    By Kurt Gallon
  • uploads///anr
    Energy & Utilities

    MLP Rating Updates during the Week Ending March 2

    CrossAmerica Partners announced an adjusted EBITDA of $28.6 million in 4Q17—compared to $27.2 million in 4Q16.

    By Kurt Gallon
  • uploads///PAA
    Company & Industry Overviews

    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.

    By Kurt Gallon
  • uploads///EQM
    Earnings Report

    EQT Midstream Partners Posted 20.0% Earnings Growth in 2017

    EQT Midstream Partners posted a strong 18.0% YoY (year-over-year) rise in its EBITDA during the most recent quarter.

    By Kurt Gallon
  • uploads///p
    Energy & Utilities

    The Energy Stocks That Outperformed Oil Last Week

    The Alerian MLP ETF (AMLP) fell 5.6%, the least among our list of energy ETFs in the week ended February 2, 2018.

    By Rabindra Samanta
  • uploads///nspc
    Company & Industry Overviews

    What’s Driving Williams Partners’ Strong Stock Performance?

    Williams Partners (WPZ) has been one of the best-performing energy stocks since the start of this year. WPZ, which is the midstream MLP subsidiary of Williams Companies (WMB), has gained 11.4% in the first nine trading sessions of the year.

    By Kurt Gallon
  • uploads///SEP
    Earnings Report

    Spectra Energy Partners Posts Strong 3Q17 Results

    Earnings in 3Q17 In 3Q17, Spectra Energy Partners (SEP), which is mainly involved in natural gas and NGL (natural gas liquid) transportation and storage, posted strong 10.4% and 18.1% YoY revenue and EBITDA (earnings before interest, tax, depreciation, and amortization) growth, respectively. Moreover, SEP, which is now owned by Enbridge (ENB), beat its 3Q17 EBITDA estimate […]

    By Kurt Gallon
  • uploads///anr
    Energy & Utilities

    MLP Rating Updates Last Week

    EnLink Midstream LLC (ENLC), the GP (general partner) of EnLink Midstream Partners (ENLK), was raised by UBS to a “buy.”

    By Kurt Gallon
  • uploads///expansion plans
    Company & Industry Overviews

    Behind Boardwalk Pipeline Partners’ Expansion Plans

    Boardwalk Pipeline Partners (BWP) expects to spend $1.1 billion on expansion projects during the 2017–2019 period.

    By Kurt Gallon
  • uploads///marcellus
    Company & Industry Overviews

    How WPZ Can Benefit from Strong Northeast Drilling Activity

    Drilling activity in the Marcellus region has remained resilient despite the weakness in natural gas prices.

    By Kurt Gallon
  • uploads/// Week lows and highs
    Miscellaneous

    MLPs Approach Their 52-Week Lows amid Crude Oil Price Weakness

    MLPs have seen a series of major sell-offs due to significant weakness in crude oil prices. The Alerian MLP ETF (AMLP) has fallen 7.5% since the beginning of June 2017.

    By Kurt Gallon
  • uploads///Midstream return
    Company & Industry Overviews

    Behind Midstream Stocks’ Latest Returns and Implied Volatility

    Teekay LNG (TGP) stock has risen 55.5% in the past year as of April 4. TGP is the Alerian MLP ETF (AMLP) constituent with the highest implied volatility.

    By Rabindra Samanta
  • uploads///marcellus
    Company & Industry Overviews

    How WPZ Benefits from Strong Marcellus Drilling Activity

    According to the recent rigs report published by Baker Hughes (BHI), the region’s rig count had risen to 41 as of March 10, 2017, compared to its all-time low of 21 in August 2016.

    By Kurt Gallon
  • uploads///image
    Miscellaneous

    Why Is Enbridge Energy Partners’ Implied Volatility Elevated?

    On January 27, Enbridge Energy Partners announced its financial outlook and strategic update. Its implied volatility rose 34.5%, while its stock fell 17.6%.

    By Rabindra Samanta
  • uploads///Midstream return
    Miscellaneous

    Midstream Stocks’ Implied Volatility: The Role of Returns

    While NGL Energy Partners rose the most among midstream stocks with high implied volatility in the past five days, EnLink Midstream (ENLC) lost the most.

    By Rabindra Samanta
  • uploads///image
    Miscellaneous

    Which Midstream Stocks Have the Highest Implied Volatilities?

    On January 23, EnLink Midstream had an implied volatility of 40.1%—the highest among the midstream companies in the Alerian MLP ETF (AMLP).

    By Rabindra Samanta
  • uploads///image
    Miscellaneous

    Which Midstream Stocks Have the Highest Implied Volatility?

    On January 13, 2017, NGL Energy Partners (NGL) had an implied volatility of 39.6%—the highest among midstream companies that make up AMLP.

    By Rabindra Samanta
  • uploads///return
    Miscellaneous

    Returns: Midstream Stocks with High and Low Implied Volatilities

    Columbia Pipeline Partners (CPPL) had the lowest implied volatility among all of the midstream companies that are part of AMLP as of October 24, 2016.

    By Rabindra Samanta
  • uploads///comps
    Company & Industry Overviews

    Where Does Boardwalk Pipeline Stand Compared to Its Peers?

    Boardwalk Pipeline Partners (BWP) has the lowest distribution yield of 2.4% among the selected peers.

    By Kurt Gallon
  • uploads///returns
    Energy & Utilities

    Returns of Midstream Stocks with High and Low Implied Volatility

    On September 19, 2016, Teekay LNG Partners’s (TGP) implied volatility rose 6.8% on a year-to-date basis, and it fell 5.3% in the last five days.

    By Robert Karr
  • uploads///largest north american energy infra co
    Miscellaneous

    Enbridge, Spectra Energy Merger Makes History

    On September 6, 2016, Enbridge (ENB) and Spectra Energy (SE) announced a stock-for-stock merger agreement, which values Spectra Energy common stock at $28 billion.

    By Rekha Khandelwal, CFA
  • uploads///sep us transmission contract portfolio
    Company & Industry Overviews

    Analyzing Spectra Energy Partners’ Contract Portfolio

    Spectra Energy’s (SE) Texas Eastern Transmission system connects Texas and the Gulf Coast with markets in the northeastern United States.

    By Rekha Khandelwal, CFA
  • uploads///AMLP yield
    Macroeconomic Analysis

    Why the MLP Yield Spread Was Flat for the Week Ending July 22

    The Alerian MLP ETF (AMLP) was trading at a yield of 8.8% at the end of the week ending July 22, 2016. The yield fell marginally compared to the previous week.

    By Kurt Gallon
  • uploads///ebitda by segment
    Earnings Report

    Commodity Prices, Weak Canadian Dollar Could Hurt Spectra in Q1

    SEP’s 4Q15 EBITDA growth mainly came from expansion projects in its natural gas transmission business. These projects should continue to contribute to the segment’s EBITDA in 1Q16.

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

    What Magellan Midstream Partners’ Moving Average Crossover Means

    Magellan Midstream Partners (MMP) is currently trading 17% below its 52-week high and 30% above its 52-week low. On a YTD (year-to-date) basis, the stock has risen 4.4%.

    By Rabindra Samanta
  • uploads///midstream
    Macroeconomic Analysis

    Analyzing Magellan Midstream’s Moving Averages

    On March 3, 2016, Magellan Midstream Partners’ (MMP) 20-day moving average was at $63.62—1% below its 100-day moving average.

    By Rabindra Samanta
  • uploads///midstream
    Miscellaneous

    How Do Midstream and Upstream Energy Companies Compare?

    Large-cap midstream companies are trading 29% below their respective 100-day moving averages as of February 12, 2016.

    By Rabindra Samanta
  • uploads///midstream
    Miscellaneous

    Midstream Companies’ Moving Averages and Analysts’ Estimates

    Large-cap midstream companies are trading 23.4% below their respective 100-day moving averages. Kinder Morgan trades 30% below its 100-day moving average.

    By Rabindra Samanta
  • uploads///Midstream
    Miscellaneous

    Downstreams Trade 17% below Their 100-Day Moving Averages

    The midstream Kinder Morgan trades 39% below its 100-day moving average. During the last rate hike in December 2015, KMI traded in the range of $15 to $16.

    By Rabindra Samanta
  • uploads///midstream
    Miscellaneous

    Midstream Companies Trade below Their 100-Day Moving Averages

    Kinder Morgan (KMI) and Williams Companies (WMB) are trading 40% and 46.7%, respectively, below their 100-day moving averages.

    By Rabindra Samanta
  • uploads///midstream
    Miscellaneous

    Midstream Struggles to Cross the 100-Day Moving Averages

    As of January 15, midstream companies’ stocks showed strong resistance. On average, midstream companies are trading 30% below the 100-day averages.

    By Rabindra Samanta
  • uploads///Midstream
    Miscellaneous

    Midstream Companies Fell below 100-Day Moving Averages

    Kinder Morgan Energy Partners and Williams Companies were trading 48% and 62%, respectively, below their 100-day moving averages as of January 13, 2016.

    By Rabindra Samanta
  • uploads///midstream
    Miscellaneous

    What It Means that Midstream Companies Are Trading below 100-Day Moving Averages

    As of January 12, the 100-day moving averages of many midstream companies showed strong resistance, although many were trading below that metric.

    By Rabindra Samanta
  • uploads///Sales and Gross Profit of Midstream Companies
    Macroeconomic Analysis

    Analyzing the Sales and Gross Profit of Midstream Companies

    In fiscal 3Q15, the gross profit of frontline midstream operator Williams Companies (WMB) fell 28.6% on a YoY (year-over-year) basis.

    By Rabindra Samanta
  • uploads///Cash Flow Analysis of Midstream Companies
    Macroeconomic Analysis

    What Does the Cash Flow Analysis Say about Midstream Companies?

    In fiscal 3Q15, the price-to-cash flows per share for Plains All American Pipeline (PAA) and Williams Partners (WPZ) were 4x and 5x, respectively.

    By Rabindra Samanta
  • uploads///SEPs forward distribution yield
    Company & Industry Overviews

    SEP Trades at a Lower Yield than Its Historical Average

    Spectra Energy Partners trades at a forward distribution yield of ~5.7%. This is lower compared to its five-year average forward distribution yield of 6.2%.

    By Rekha Khandelwal, CFA
  • uploads///SEPs leverage
    Company & Industry Overviews

    Spectra Energy Partners Maintains Conservative Leverage

    Spectra Energy Partners’ debt-to-equity ratio has remained below 1 over the last two years. A ratio of below 1 is considered pretty conservative for MLPs.

    By Rekha Khandelwal, CFA
  • uploads///SEPs segmental EBITDA
    Company & Industry Overviews

    Must-Know: How Spectra Energy Partners’ Segments Are Performing

    Spectra Energy Partners manages its business through its US Transmission and Liquids segments. Its US Transmission segment contributes nearly 85% of EBITDA.

    By Rekha Khandelwal, CFA
  • uploads///SEP price targets
    Company & Industry Overviews

    Will Spectra Energy Partners Exceed Its 2015 Guidance?

    Spectra Energy Partners’ distributable cash-flows for the nine months ended September 30, 2015, are $945 million.

    By Rekha Khandelwal, CFA
  • uploads///stock performance
    Company & Industry Overviews

    Spectra Energy Partners Trades 5% above Its 50-Day Moving Average

    Spectra Energy Partners crossed its 50-day moving average on December 21, 2015, when the lifting of a ban on US oil exports sent most energy MLPs up.

    By Rekha Khandelwal, CFA
  • uploads///ebitda by segment
    Company & Industry Overviews

    Low Commodity Prices, Weak Canadian Dollar Drag SE’s Earnings

    SE carries out operations through four segments: Spectra Energy Partners, Distribution, Western Canada Transmission & Processing, and Field Services.

    By Rekha Khandelwal, CFA
  • uploads///EPS Estimates
    Earnings Report

    Kinder Morgan Misses 3Q15 Revenue and Earnings Estimates

    The 3Q15 consensus revenue estimate for Kinder Morgan was $3.8 billion, while the company’s actual revenue stood at $3.7 billion, a miss of 2.0%.

    By Kurt Gallon
  • uploads///KMIs operating results
    Earnings Report

    Kinder Morgan 3Q15 Earnings Release: Key Highlights for Investors

    Kinder Morgan reported its 3Q15 earnings on October 21, 2015. Its 3Q15 revenue fell to $3.7 billion from $4.3 billion in the third quarter of last year.

    By Kurt Gallon
  • uploads///adjusted revenues vs consensus estimates
    Earnings Report

    Why Are Enbridge Energy Partners’ 3Q15 Revenue Estimates Low?

    Enbridge Energy Partners’ natural gas assets are primarily located in Texas and Oklahoma, and are owned by Midcoast Energy Partners (MEP).

    By Rekha Khandelwal, CFA
  • uploads///EBITDA Estimates
    Earnings Report

    Why Have Analysts Increased Williams Partners’ EBITDA Estimate?

    Wall Street analysts have increased WPZ’s 3Q15 EBITDA estimates despite the company’s significant misses in recent quarters.

    By Kurt Gallon
  • uploads///Total Returns
    Earnings Report

    Analyzing Williams Partners’ Total Return Performance

    Williams Partners (WPZ) is expected to release its 3Q15 earnings on October 29, 2015. The company has generated total returns of -34.4% since the start of this year.

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

    Kinder Morgan’s 3Q15 EPS Estimate Is the Lowest in Last 12 Quarters

    Wall Street analysts’ 3Q15 consensus EPS estimate for Kinder Morgan (KMI) is ~$0.186, similar to the ~$0.188 they estimated in the previous quarter.

    By Kurt Gallon
  • uploads///Revenue Estimates
    Earnings Report

    Will Kinder Morgan Miss Revenue Estimates Again?

    Kinder Morgan’s 2Q15 revenue estimate was ~$4.0 billion while the 3Q15 estimate is ~$3.8 billion, a decrease of ~4.8%.

    By Kurt Gallon
  • uploads///Dividend
    Earnings Report

    Kinder Morgan’s Dividends Are Expected to Grow in 2015

    According to Wall Street analysts’ estimates, Kinder Morgan’s dividend is expected to grow 3.7% quarter-over-quarter in 3Q15 and ~15% year-over-year.

    By Kurt Gallon
  • uploads///Total Returns
    Earnings Report

    Kinder Morgan Has Underperformed the Alerian MLP ETF in 2015

    Kinder Morgan is the largest midstream energy company in the United States. The company has generated a total return of -22.9% since the beginning of this year.

    By Kurt Gallon
  • uploads///Worst
    Macroeconomic Analysis

    World Point Terminals: Worst Midstream MLP Performer on October 2

    World Point Terminals (WPT) was the worst performer among midstream MLPs at the end of trading on Friday, October 2, falling 1.92%.

    By Kurt Gallon
  • uploads///Merger Steps
    Miscellaneous

    How Will Energy Transfer Corporation Trade?

    Energy Transfer Corporation would be taxed as corporation for federal tax purposes. Holders of ETC shares would receive an IRS Form 1099 rather than a Schedule K-1.

    By Kurt Gallon
  • uploads///DCF
    Company & Industry Overviews

    What Drove Energy Transfer Equity’s Distributable Cash Flow?

    Energy Transfer Equity’s (ETE) 2Q15 distributable cash flow rose to $335 million from $218 million in 2Q14. This is a YoY (year-over-year) increase of 53.60%.

    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///Revenue Estimates
    Earnings Report

    Williams Partners Meets Revenue, Misses 2Q15 EBITDA Estimates

    After a 20.28% miss in 1Q15, Williams Partners met its 2Q15 revenue estimates. The 2Q15 consensus estimate was ~$1.831 billion.

    By Kurt Gallon
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