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MLP and Midstream Rating Updates Last Week
On February 19, TD Securities raised its target price for Enbridge (ENB) from 56 Canadian dollars to 57 Canadian dollars.
Energy Transfer’s Strong Growth Continued in Q4 2018
Energy Transfer (ET) released its fourth-quarter and full-year 2018 earnings yesterday.
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.
7 MLPs Offering a Yield above 10%
NGL Energy Partners is trading at a yield of ~14.1%. NGL Energy Partners’ distributions have been flat for the last ten quarters.
These Midstream and MLP Stocks Gained the Most Last Week
Williams Companies (WMB) gained 5.2% last week. Strong third-quarter performance drove the stock up.
OKE, HCLP, SUN: Key Midstream and MLP Rating Updates Last Week
Of the 18 analysts covering ONEOK, five have rated the stock as a “strong buy,” four have rated it as a “buy,” and the remaining nine have rated it as a “hold.”
Which MLPs Were the Strongest in the Third Quarter?
Royalty interest owner MLP Viper Energy Partners (VNOM) rose ~32% in the third quarter.
Here Are the Top-Performing MLPs and Midstream Stocks Last Week
Cheniere Energy (LNG), Teekay LNG Partners (TGP), and Golar LNG Partners (GMLP) were among the top gainers in the MLP and midstream sector last week.
HEP, ENBL, GEL, DM: Top MLP Gainers Last Week
Holly Energy Partners (HEP), Enable Midstream Partners (ENBL), and Genesis Energy (GEL) were the top MLP gainers last week.
HCLP, BPL, SUN, and USAC: Are Analysts Cautious?
For Hi-Crush Partners (HCLP), one analyst rated the stock as a “strong buy,” nine rated it as a “buy,” and seven rated it as a “hold.”
Energy Transfer Partners Is Firing on All Cylinders
Energy Transfer Partners (ETP) posted strong earnings growth in the second quarter of 2018 and beat earnings estimates.
What Could Drive Energy Transfer Partners’ Earnings?
Energy Transfer Equity (ETE), Energy Transfer Partners (ETP), and Sunoco LP (SUN) are scheduled to report their second-quarter earnings on August 8.
Energy Transfer Partners: Possible Earnings Drivers in 1Q18
Energy Transfer Equity (ETE), Energy Transfer Partners (ETP), and Sunoco (SUN) are scheduled to report their 1Q18 earnings on May 9.
Last Week’s MLP Rating Updates: Must-Knows
Global Partners (GLP), a midstream MLP involved in crude oil, refined product, and NGLs (natural gas liquids) logistics and marketing, saw two target price revisions and one ratings update last week.
Analysts’ Views on High-Yield MLP Stocks
Of analysts surveyed by Reuters, 75% rated Energy Transfer Partners (ETP) as a “buy” and the remaining 25% rated it as a “hold.”
Analyzing Institutional Investor Activity in ETP, EEP, BPL, SUN
The top ten institutional investors in Energy Transfer Partners (ETP) added 66.8 million ETP shares to their positions, according to the latest filings.
Comparing Short Interest in ETP, EEP, BPL, and SUN
Short interest represents the number of shares of a particular stock that have been shorted but haven’t yet been closed out.
ETP, EEP, BPL, and SUN: A Leverage Analysis
Energy Transfer Partners (ETP) had a huge debt, of more than $32 billion, at the end of 2017.
Behind ETP’s, EEP’s, BPL’s, and SUN’s High Yields
After a 6.3% fall on March 15, 2018, Energy Transfer Partners (ETP) is trading at a distribution yield of ~13.6%.
Why Energy Transfer Partners’ Earnings Are on the Rise
Energy Transfer Partners (ETP) reported adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) of $1.9 billion in 4Q17.
Analyzing Sunoco’s High Distribution Yield
Sunoco (SUN) is trading at a high distribution yield of ~11.7%. It paid a distribution of ~$0.83 per share in 4Q17.
What’s behind Enbridge Energy Partners’ Attractive Yield?
With a yield of 11.1%, Enbridge Energy Partners (EEP) is trading at a yield close to Buckeye Partners (BPL).
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.
SUN’s Repurchase Agreement Could Impact ETP’s Stock Performance
Sunoco LP (SUN), the downstream MLP subsidiary of Energy Transfer Equity (ETE), announced a share repurchased agreement with Energy Transfer Partners (ETP).
Who Were the Top MLP Losers Last Week?
Four of the top MLP losers last week were marine transportation MLPs, including GMLP, CPLP, KNOP, and NAP.
What’s behind Sunoco’s Rise This Year?
Sunoco’s rise Sunoco (SUN) has risen nearly 13% so far in 2017. In comparison, the Alerian MLP Index has fallen nearly 15%. Energy Transfer Equity (ETE)—Sunoco’s parent—owns Sunoco’s GP (general partner) interests and IDRs (incentive distribution rights). Sunoco operates retail fuel sites and convenience stores and distributes motor fuel to convenience stores, dealers, commercial customers, and distributors. […]
Energy Transfer Partners’ subsidiary interests are hidden gems
ETP believes “significant value is embedded” within Energy Transfer Partners’ subsidiary interests in these companies.
What Drove ETP’s and ETE’s Stock Performance in 2Q17
Energy Transfer Equity (ETE) and Energy Transfer Partners’ (ETP) stock performance was weak during the second quarter of 2017.
ETE, PAGP, WGP, and ENLC: Analyzing MLPs’ General Partners
In this series, we’ll perform a comparative analysis of four MLPs’ general partners: Energy Transfer Equity, Plains GP Holdings, Western Gas Equity Partners, and EnLink Midstream LLC.
These Were the Top-Performing MLPs in April 2017
Sunoco (SUN), an MLP involved in wholesale and retail distribution and marketing of refined products, was the top gainer among MLPs in April 2017.
ETE Underperformed AMLP Last Week: Can It Bounce Back?
Energy Transfer Equity (ETE), which directly and indirectly owns the GP (general partner) of Energy Transfer Partners (ETP) and Sunoco Logistics Partners (SXL), fell 1.7% last week.
Why Sunoco Decided to Sell Most of Its Retail Business
Sunoco LP’s (SUN) retail business will become a small part of its overall offering following the completion of its announced convenience store divestitures.
Why SUN Rallied 20% after Convenience Store Sale Announcement
On April 6, 2017, Sunoco (SUN) announced the sale of 1,110 convenience stores to 7-Eleven in a deal valued at $3.3 billion.
MLPs Are Still a Top Income Investment Option
Yields for MLPs have come down in recent quarters, driven by the slight recovery of investor confidence in the energy sector.
Can Energy Transfer Equity Continue Its Strong Rally in 2017?
Energy Transfer Equity (ETE), the pure play general partner MLP of Energy Transfer Group, has risen 42.6% year-to-date despite touching its multiyear lows in the beginning of 2016.
A Look at Casey’s Shareholder Returns and Valuations
Shares of Casey’s General Stores (CASY) fell 2.0% on December 8, 2016, a day after it failed to meet expectations in its fiscal 2Q17 results.
MLPs Looking for Strategic Acquisitions amid Project Delays
MLPs have also started focusing more on bolt-on acquisitions over organic projects due to project delays.
A Look at the Short Interest in Enbridge Energy Partners’ Stock
Enbridge Energy Partners’ (EEP) short interest as a percentage of its float is 3.9%, compared to the average of 2.3% for Alerian MLP Index (AMZ) members.
ETP’s Coverage Fall Might Delay Distribution Growth Resumption
Energy Transfer Partners’ distribution growth Energy Transfer Partners (ETP) declared a distribution of ~$1.1 per unit for 3Q16. This represents flat distribution as compared to the previous quarter and the same quarter one year previously, due to high leverage and low coverage. On ETP’s distribution growth resumption, Kelcy Warren, ETP’s Chief Executive Officer, said in […]
A Look at Casey’s Dividends, Valuations, and Ratings
Casey’s (CASY) is currently trading at a one-year forward price-to-earnings ratio of 21.8x.
In Search of Anything to Be Pleased with about Casey’s 1Q Results
For 1Q17, which ended July 31, 2016, Casey’s General Stores (CASY) reported a 3.8% decline in total sales to $2.0 billion.
CASY’s Fiscal 1Q17 Results Miss on Top and Bottom Lines
Casey’s General Stores (CASY) reported fiscal 1Q17 earnings per share (or EPS) of $1.70, missing the Wall Street analyst estimate by $0.11.
What Does Wall Street Recommend for Casey’s?
Ten of the 13 analysts rating Casey’s have given the company a “buy.” Three have given it a “hold,” and none have given it a “sell.”
DCP Midstream’s Short Interest Is above the Industry Average
DCP Midstream Partners’ (DPM) short interest as a percentage of float increased before its 2Q16 earnings announcement.
What Does Alon USA Partners’ Short Interest Indicate?
Alon USA Partners’ short interest as a percentage of its float is 7.2% compared to the average of 2.6% for all Alerian MLP Index members.
Why Energy Transfer Equity’s Cash Flow Could Stay Flat in 2016
Energy Transfer Equity (ETE), which is mainly dependent upon distribution income from its MLP subsidiaries, declared a distribution of $0.29 per unit in 1Q16.
NGL Energy’s Short Interest is on Par With the Industry Average
NGL Energy’s (NGL) short interest as a percentage of float has moved dramatically since the beginning of 2016.
Calumet: What Are Institutional Investors Thinking?
Nearly 20.9% of Calumet’s floating shares are held by ~139 institutional investors. The percentage of float held decreased from nearly 24.2% at the end of 1Q16.
How Does NuStar Energy’s Short Ratio Compare?
NuStar Energy’s (NS) short interest as a percentage of float, or short ratio, has changed dramatically since the beginning of 2016.
Has Casey’s Been a Good Investment for Its Shareholders?
Casey’s peers CST Brands (CST) and Murphy USA (MUSA) have given higher returns to shareholders compared to Casey’s.
Analyzing the Valuations of Casey’s and Its Peers
Casey’s General Stores (CASY) is expected to register strong earnings growth in the final quarter of its fiscal 2016.
Analyzing Casey’s Fiscal 3Q16 ahead of Its Fiscal 4Q16 Results
Casey’s General Stores reported a 6.3% YoY (year-over-year) fall in total sales to $1.6 billion in fiscal 3Q16, missing consensus estimates by $29 million.
Why Did ETE and ETP Surge after the 1Q16 Earnings Release?
Energy Transfer Equity (ETE) and Energy Transfer Partners (ETP) rallied 7.1% and 8.8%, respectively, following their 1Q16 earnings conference call.
How CASY Expanded Its Business and Maintained Its Balance Sheet
CASY has followed a disciplined growth approach, expanding both organically as well as inorganically while keeping its balance sheet in check.
High Yield Bond Funds Saw Inflows while Yields Continued to Fall
According to Lipper, net inflows from high yield bond funds totaled $1.2 billion in the week ended April 6.
Numericable Issued the Most Junk Bonds in the Week to April 8
Numericable SFR is a French cable and telecommunications company. It issued dollar-denominated junk bonds worth $5.2 billion on April 6.
High Yield Bond Issuance Hit 2016 Record Last Week
High yield bond issuance surged last week and hit its highest level in 2016 yet due to continued growth in volume.
Why It’s Important to Keep an Eye on India’s CPI Inflation
Though India’s CPI inflation has come down, certain risk factors could cause it to rise again.
What Boosted Casey’s Shareholder Returns in Fiscal 3Q16?
Casey’s General Stores (CASY) stock has yielded strong returns for its shareholders. The stock price rose by around 35% in 2015 after rising 30% in 2014.
How Did Fuel Prices Treat Casey’s Margins in Fiscal 3Q16?
The contribution of the fuel category toward Casey’s top line has seen a continuous fall over the past few quarters due to low fuel prices.
How Gasoline Inventory Supported Crude Oil Prices
The EIA (U.S. Energy Information Administration) reported that the US gasoline inventory fell by 2.2 MMbbls (million barrels) to 256.5 MMbbls for the week ending February 19, 2016.
Vicious Circle: Gasoline and Diesel Prices Impact Refinery Demand
Lower refined products prices led to the fall in refinery demand. The EIA reported that US refined demand fell to 15.5 MMbpd for the week ending February 5.
Will Gasoline Prices Remain Lower for Even Longer?
The EIA’s weekly gasoline and diesel fuel price update released on January 25, 2016. It showed that US regular gasoline retail prices averaged $1.85 per gallon.
Energy Transfer Equity’s High Leverage Is a Major Concern
Energy Transfer Equity and its subsidiaries can’t afford additional debt borrowing, with its existing high leverage, for funding growth capital projects.
Energy Transfer Equity Rose after Sunoco’s Dropdown Announcement
Energy Transfer Equity (ETE) rose 8.8% on November 16. It rose more after a dropdown announcement by Energy Transfer Partners (ETP).
The Williams–Energy Transfer Merger: Energy Transfer Equity Basics
Energy Transfer Equity (ETE) is a midstream holding company that holds interests in numerous partnerships in the midstream energy business.
An Analysis of Energy Transfer Equity’s EBITDA Growth
Energy Transfer Equity’s adjusted EBITDA has continued to grow over the recent quarters. For 2Q15, its adjusted EBITDA grew by 15% YoY compared to 2Q14.
Energy Companies Dominate Junk Bond Issuance in Week to July 17
Junk bond issuers returned to the primary market in the week ended July 17 as the situation in Greece stabilized, but remained cautious due to market volatility.
