Shell Midstream Partners LP
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.
Must-know: A quick look into the Antero Midstream IPO
On October 27, Antero Resources Corporation announced the initial public offering of Antero Midstream Partners LP.
10-Year Treasury-MLP Yield Spread Rose: Here’s Why
The Alerian MLP ETF (AMLP) was trading at a yield of 8.9% at the end of the week ending July 1, 2016.
Shell Midstream Trades at a Lower Distribution Yield than Its Peers
Shell Midstream Partners is trading at a forward distribution yield of about 3%. Its forward yield is nearly 5 percentage points lower than its peers.
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.
How Changing Energy Demand Impacts MLPs’ Throughput Volumes
US natural gas demand is expected to rise in the coming years, driven by increased consumption by power utilities, industries, and liquefied natural gas exports.
These Were Last Week’s Weakest Energy Stocks
Integrated energy stock YPF Sociedad Anonima (YPF) was the second weakest on our list last week, and midstream stocks Western Gas Partners (WES) and Shell Midstream Partners (SHLX) ranked third and fourth.
Dropdowns Fuel Shell Midstream Partners’ Distribution Growth
Shell Midstream Partners declared a quarterly distribution of $0.22 per limited partner unit for 4Q15—an increase of 7.3% over last quarter’s distribution.
Which MLPs Are Leading in Distribution Growth?
MLPs’ distribution In this article, we’ll look at MLPs’ distribution growth for the latest quarter. Of 113 MLPs, 37 managed to grow their quarterly distribution based on 4Q16 earnings. Nearly 62 MLPs kept their distribution unchanged. This includes GPs (general partners) of limited partnerships and midstream C corporations. EQT GP Holdings (EQGP), Capital Product Partners […]
Last Week’s MLP Ratings Updates
CVR Refining (CVRR), a downstream MLP involved in crude oil refining and refined products marketing, saw ratings updates and target price revisions from Barclays and UBS last week.
Gasoline Prices Continue their Uptrend the Week of May 8
For the summer of 2015, the EIA expects consumption to average 9.2 MMbpd, which is 0.14 MMbpd higher than last summer’s consumption.
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.
Diesel Prices Rose Again on May 11
The EIA expects US distillate consumption this summer to average 4 million barrels per day, up 3% compared with last summer.
What Drove Shell Midstream’s 2Q16 Earnings Growth?
Shell Midstream Partners (SHLX) reported its 2Q16 results on August 4, 2016. The company reported 2Q16 adjusted EBITDA of $77.1 million.
What Will Drive Shell Midstream Partners’ Growth in 2016?
Shell Midstream Partners (SHLX) has generated total returns of -13% since the start of 2016.
Diesel Prices Increased: EIA Provides Bullish Consumption Outlook
On April 20, US On-Highway Diesel Fuel Prices were $2.78 per gallon. This represented an increase of ~1% from $2.754 per gallon last Monday, April 13.
Top MLP Losers in the Week Ending February 2
Teekay Offshore Partners (TOO) was the top MLP loser in the week ending February 2. The partnership fell 13.5% last week.
Dominion Midstream: Top Midstream MLP Loser on October 21
Dominion Midstream Partners (DM) was the top loser among midstream MLPs at the end of trading on Wednesday, October 21. It fell 5.51%.
Why Does Buckeye Partners Have a Low Distribution Coverage Ratio?
Buckeye Partners’ 1Q15 trailing 12 month distribution coverage ratio of 0.97x is lowest among the selected peer group. It’s expected to stay low in 2Q15 and 3Q15.
What Drove Shell Midstream Partners’ EBITDA Growth in 4Q15?
Shell Midstream Partners (SHLX) reported 4Q15 adjusted EBITDA of $65.5 million, which is more than double its adjusted EBITDA of $31.8 million in 4Q14.
Dominion Midstream: Worst Midstream MLP Performer on September 11
Dominion Midstream Partners (DM) was the worst performer among midstream MLPs at the end of trading on Friday, September 11. It fell 5.48%.
What Do Shell Midstream Partners’s Price Targets Indicate?
Of the analysts surveyed by Reuters, 60% rated Shell Midstream Partners (SHLX) as a “buy,” and 40% rated it as a “hold.”
Midstream Stocks Outperformed the Energy Space Last Week
Last week (ended July 5), midstream stock EnLink Midstream LLC (ENLC) outperformed the energy space. Here’s a summary of midstream stocks’ performance.
Midstream Stocks Outperformed the Energy Sector Last Week
In the week ending May 24, midstream stock Genesis Energy (GEL) rose the most among the stocks in the energy space.
Phillips 66 Partners: Analysts Updated the Target Price
On February 11, Stifel cut its rating for Phillips 66 Partners from “buy” to “hold.” Stifel raised its target price for the stock from $50 to $52.
These Stocks Outperformed the Energy Space Last Week
Between January 18 and January 25, oilfield services stock Weatherford International rose the most among the energy stocks under review in this series.
Buckeye Partners Stock Could React to a Distribution Cut
Buckeye Partners’ 30-day implied volatility was 28.9% as of July 30—slightly below the 15-day average of 29.3%.
SHLX’s Strong Earnings Growth Potential Makes It Attractive
Shell Midstream Partners (SHLX) is in fifth position in terms of earnings growth potential among MLPs.
The Weakest MLPs in H1 2018
Dominion Midstream Energy Partners (DM), a midstream subsidiary of Dominion Energy (D), was the weakest MLP in the first half of 2018, falling 55%.
Top MLP Losses in the Week Ending June 15
Sprague Resources (SRLP) was the top MLP loss in the week ending June 15. Sprague Resources fell 8.9% last week.
Buckeye Partners Is Underperforming AMLP: Can It Bounce Back?
Buckeye Partners (BPL) has continued to disappoint the markets. Buckeye Partners has lost 26.5% since the beginning of 2018.
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.
These Top Midstream Companies Offer Maximum Upside Potential
In this series, we’ll look into ten midstream players’ market performances, upside potentials, valuations, and analyst recommendations.
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.
Why Are Institutional Investors Bullish on Andeavor Logistics?
CIBC Atlantic Trust Private Wealth Management and Alps Advisors added a major position in Andeavor Logistics (ANDX) during the recent quarter.
CVR Partners: Top MLP Loser in the Week Ending January 26
CVR Partners, the MLP involved in nitrogen fertilizer production, was the top MLP loser in the week ending January 26. The partnership fell 7.1% last week.
Shell Midstream Partners Is Top MLP Pick despite High Leverage
Shell Midstream Partners (SHLX) traded in negative territory for most of 2017. It has recovered slightly over the past month.
How Do These MLPs Look in 2018?
MLPs had a strong start to the new year. The Alerian MLP Index rose 5% in the first week of 2018.
These MLPs Saw the Biggest Rises Last Week
Upstream MLPs (master limited partnerships) EV Energy Partners (EVEP) and Legacy Reserves were among the top MLP gainers last week.
This Institution Added a Major Position in ANDX in 3Q17
Tortoise Capital Advisors and Harvest Fund Advisors added major positions in ANDX in 3Q17, buying ~11.6 million and ~2.6 million shares, respectively.
Behind Shell Midstream Partners’ 3Q17 Earnings Growth
Earnings in 3Q17 Shell Midstream Partners (SHLX), Royal Dutch Shell’s (RDS-A) midstream MLP subsidiary, posted strong earnings numbers during the third quarter. SHLX’s adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) rose 30.0% to $92.0 million in 3Q17 from $70.9 million in 3Q16. Moreover, SHLX beat its 3Q17 EBITDA estimate by 12.0%. The partnership benefited […]
Last Week’s Biggest MLP Losers
Sanchez Production Partners (SNMP), the midstream MLP involved mainly in natural gas gathering, compression, and processing, was the biggest MLP loser last week.
What Does Short Interest in SHLX Stock Indicates?
Short interest as a percentage of shares outstanding in Shell Midstream Partners (SHLX) stock for the settlement date of November 30, 2016, was 0.6%.
How SHLX Benefits from Shell’s Production in the Gulf of Mexico
According to a recent Shell Midstream Partners (SHLX) presentation, Shell is the largest producer in the Gulf of Mexico.
A Look at Shell Midstream Partners’s Leverage
Shell Midstream Partners’s (SHLX) net debt-to-EBITDA ratio is currently 1.2x. MLPs usually target a debt-to-EBITDA ratio below 4.5x, making SHLX’s leverage very conservative.
MLP Distributions Continue to Rise despite Crude Oil Volatility
Thirty-seven out of 117 MLPs managed to grow their distributions, and 68 MLPs kept their distributions unchanged in 3Q16.
10-Year Treasury, MLP Yield Spread Rose Last Week
The Alerian MLP ETF (AMLP) traded at a yield of 9.3% in week ended June 10, 2016. The yield rose compared to the previous week.
WTI-Brent Spread Widened as Brent Rose More than WTI Last Week
A widening WTI-Brent spread tends to hurt upstream MLPs such as Memorial Production Partners (MEMP) and Vanguard Natural Resources (VNR).
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%.
Genesis Energy Lost $15 million amid the Fall in Crude Oil
Genesis Energy’s (GEL) shares rallied 3.32% on February 18, 2016. Strong distributable cash flow growth of 63% YoY drove its distribution coverage.
Sunoco Logistics Partners Missed 3Q15 Revenue, EBITDA Estimates
Sunoco Logistics Partners missed its 3Q15 revenue estimate by a margin of 32.4% and missed its EBITDA estimate by a margin of 30.8%.
Cone Midstream: Worst Midstream MLP Performer on October 22
Cone Midstream Partners was the worst performer among midstream MLPs at the end of trading on Thursday, October 22, 2015, falling 4.8%.
AMJ Gains 3.8%, Outperforms MLPI in Week Ended October 2
The JPMorgan Alerian MLP Index ETN (AMJ) gained 3.8% in the week ended October 2. The Alerian MLP Index (AMZ) is AMJ’s underlying index. It rose 3.9% during the same week.
Southcross Energy: Best Midstream MLP Performer on October 2
Southcross Energy Partners was the best performer among midstream MLPs (master limited partnerships) at the end of trading on Friday, October 2.
Midcoast Energy: Worst Midstream MLP Performer on September 29
Midcoast Energy Partners (MEP) was the worst performer among midstream MLPs at the end of trading on Tuesday, September 29. It fell 13.15%.
Genesis Energy’s Onshore Pipeline Segment: Key Highlights
Genesis Energy’s Onshore Pipeline Transportation segment is involved in crude oil and CO2 transportation and supply.
Columbia Pipeline: Top Midstream MLP Loser on September 22
Columbia Pipeline Partners (CPPL) was the top loser among midstream MLPs at the end of trading on September 22. Its losing streak continued yesterday.
Niska Gas Storage: Worst Midstream MLP Performer on August 12
Niska Gas Storage Partners (NKA) was the worst performer among midstream MLPs at the end of trading on Wednesday, August 12. It fell 1.47%.
Buckeye Partners’ 1Q15 Earnings Missed Estimates
Buckeye Partners missed most analysts’ estimates in its 1Q15 earnings. Its reported revenue stood at $1008.1 million, while the consensus estimates were $1628.5 million.
Gasoline Inventories Returned to Downtrend Last Week
Gasoline demand increased from ~8.61 MMbpd to ~8.91 MMbpd last week. Gasoline inventories remain outside the five-year range despite the draw in inventories reported on Wednesday.
Distillate Inventories Increased Last Week
Distillate demand drives crude demand and crude prices. So, energy investors watch distillate inventories closely.
Gasoline Prices Increase in the Week to April 20
US regular gasoline prices on Monday, April 20, were $2.485 per gallon. This was an increase of 3.2% from $2.408 per gallon last Monday, April 13.
A Brief Overview of Shell Midstream Partners
Shell Midstream Partners (SHLX) is a MLP formed by Shell Pipeline Company, an affiliate of the international integrated energy giant, Royal Dutch Shell.
Zydeco Pipeline: A Shell Midstream Partners Key Asset
Shell Midstream Partners (SHLX) has a 42% ownership in the Zydeco pipeline, and Shell Pipeline Company, or SPLC, owns the remaining 57% interest.
Shell Midstream’s Mars: A Corridor Pipeline Servicing the Gulf
Shell Midstream Partners (SHLX) has a 28.6% ownership in the Mars pipeline, and Shell Pipeline Company has a 42.9% interest.
Shell Midstream Partners Refined Products Pipeline Systems
The Colonial pipeline system is the largest refined products pipeline in the US based on barrels per mile transported.
How Rice Midstream compares to Antero and Shell
Antero Midstream and Shell Midstream stocks rose significantly, while Rice Midstream’s stock fell by 1.2%, falling below its IPO price of $16.50 the first day of trading.
Comparing the Antero Midstream IPO with the Shell Midstream IPO
Antero Midstream (AM), which raised $1.15 billion in its IPO, broke Shell Midstream’s record of $1.06 billion.