TC Pipelines LP
Key comparison between MPLX and its peers
MPLX shows the steepest fall in its EV/EBITDA, indicating expectations for the strongest EBITDA growth among its peers here.
The story behind the Canadian giant—TransCanada Corp.
TransCanada Corporation (TRP) is based in Canada. It’s one of North America’s leading natural gas pipeline network owners. TransCanada also provides natural gas storage services.
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%.
TC PipeLines: Uncertainty Rules the Roost
There’s still uncertainty surrounding TC PipeLines’ (TCP) future. The company slashed its 1Q18 distributions 35%.
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.
Here Are Last Week’s Top MLP and Midstream Gainers and Losers
DCP Midstream (DCP), TC PipeLines (TCP), and Summit Midstream Partners (SMLP) were among the biggest MLP gainers in the last week.
AMLP Rose Last Week in a Good Week for Energy Stock ETFs
AMLP gained almost as much as the VanEck Vectors Oil Services ETF (OIH) in the week ending August 14.
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.
An introduction to TransCanada Corp.
TransCanada Corp. (TRP) is an energy infrastructure company. It owns a network of natural gas and crude pipelines across North America. TransCanada also provides natural gas storage.
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.
TC PipeLines—TransCanada’s important subsidiary
TC PipeLines LP (TCP) is a master limited partnership (or MLP) that owns or has ownership in six interstate natural gas pipelines. TransCanada Corp. (TRP) owns ~28.9% equity interest in TCP.
TC Pipelines’ Winning Streak Continued on Wednesday, August 12
TC Pipelines’ winning streak continued with a single-day gain of 5.74% yesterday. The stock has risen 14.60% in the last three trading sessions.
Best-Performing MLPs in the Week Ended July 13
CVR Partners (UAN) rallied 9.7% in the week ended July 13, making it the top MLP gainer for the week.
Midcoast Energy: Top Midstream MLP Gainer on Tuesday, August 11
Midcoast Energy Partners (MEP) was the top gainer among midstream MLPs at the end of trading on August 11. It rose 6.48% in a single trading session.
Introducing the UBS ETRACS Alerian MLP Infrastructure Index ETN
The UBS ETRACS Alerian MLP Infrastructure Index ETN (MLPI) tracks the Alerian MLP Infrastructure Index (AMZI).
Why Western Canada and Bakken development help TC PipeLines
In 2013, TCP’s Northern Border pipeline delivered steady results despite its lower rates, which were instituted on January 1, 2013. Demand for its service has remained strong.
Behind TC PipeLines High Year-to-Date Returns
As of April 11, TC PipeLines’ total YTD return was about -2.4%. TCP is trading 4% above its 50-day moving average and 5% below its 200-day moving average.
Must-know: Williams Partners’ 3Q14 performance
Williams Partners (or WPZ) is one of WMB’s operating subsidiaries. WPZ accounts for the majority of WMB’s operations and profits.
How Does Targa Resources’ Valuation Compare with Peers?
Targa Resources (TRGP) is trading at an EV-to-EBITDA (enterprise value to earnings before interest, tax, depreciation, and amortization) multiple of nearly 15x.
Phillips 66 Partners: Top Midstream Loser on Friday, July 17
Phillips 66 Partners (PSXP) was the top loser among midstream MLPs at the end of trading on Friday, July 17. It fell 4.44%.
Midstream Stocks Were the Top Gainers in Energy Sector
Last week, midstream stock Holly Energy Partners (HEP) outperformed other companies in the energy space.
Enbridge and TransCanada Saw Higher Target Prices
On August 6, RBC raised its target price for Enbridge (ENB) from 54 Canadian dollars to 59 Canadian dollars.
TC PipeLines: Short Interest and Analysts’ Recommendations
On March 19, Wells Fargo upgraded TC PipeLines from “market perform” to “outperform.” Wells Fargo has given TC PipeLines a target price of $38.
AM, DCP, TCP, ET: Last Week’s Key Rating Updates
Antero Midstream (AM), which started trading as a corporation on March 13, has a price target of $17 from Capital One Securities.
TCP, VLP, HCLP, CVRR: Who Gained and Who Lost Last Week?
On October 18, Valero Energy (VLO) announced an agreement to acquire Valero Energy Partners (VLP).
Which MLPs Were the Strongest in the Third Quarter?
Royalty interest owner MLP Viper Energy Partners (VNOM) rose ~32% in the third quarter.
Midstream Stocks Were the Outperformers Last Week
On August 3–10, midstream stock TC PipeLines (TCP) saw the highest gain on our list of energy stocks. The Alerian MLP ETF (AMLP) fell 0.6%.
Top Energy Gainers Last Week
On July 6–13, upstream stock Sanchez Energy (SN) saw the highest gain on our list of energy stocks.
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%.
The Strongest and Weakest MLP Subsectors in H1 2018
Natural gas and NGL (natural gas liquid) transportation was the weakest MLP subsector in H1 2018, with natural gas transportation MLPs falling by an average of 17.6%.
Top MLP Gainers in the Week Ending June 22
Legacy Reserves (LGCY) was the top MLP gainer in the week ending June 22. Legacy Reserves rallied 14.3% due to strong crude oil prices.
Largest Injection in US Natural Gas Inventories since 2015
The EIA reported that US natural gas inventories increased by 91 Bcf (billion cubic feet) to 1,629 Bcf on May 11–18.
Analyzing the Weakest Energy Performers Last week
On March 29–April 6, 2018, upstream stock RSP Permian (RSPP) fell the most on our list of energy stocks.
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.
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.
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.
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.
How Short Interest in Tallgrass Energy Partners Changed Recently
Short interest in Tallgrass Energy Partners (TEP) as a percentage of its float is 9.2%—higher than its short interest of 7.3% at the end of January 2018.
Golar LNG Partners: What Are Analysts’ Recommendations?
Golar LNG Partners (GMLP) reported its third-quarter earnings on November 30, 2017. The company reported net income of $26.5 million.
Key MLP Ratings Updates as of December 8
Crestwood Equity Partners (CEQP), a midstream MLP, was upgraded at UBS last week. UBS raised CEQP to a “buy” from a “neutral.”
These MLPs Have the Highest Earnings Margins Today
In this series, we’ll assess the performances of the MLPs with the highest EBITDA (earnings before interest, tax, depreciation, and amortization) margins.
How TC PipeLines Comes in 6th Place among Top MLPs
TC PipeLines comes in sixth place among the top MLPs (master limited partnerships) in terms of EBITDA margin.
TC PipeLines Reports Flat Earnings in 3Q17
Earnings in 3Q17 TC PipeLines (TCP), TransCanada’s (TRP) midstream MLP subsidiary, posted flat earnings in 3Q17. The partnership reported adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) of $103 million, which represents a marginal 1.0% rise from 3Q16. Moreover, the partnership missed its EBITDA estimate by 7.5%. The slight increase in its adjusted EBITDA was […]
Top MLP Losers in the Week Ending September 22
Ferrellgas Partners (FGP), which is involved in propane logistics and distribution, was the top MLP loser in the week ending September 22.
How Does TC PipeLines’ Valuation Compare to Its Peers?
TC PipeLines (TCP) is trading at an EV-to-EBITDA (enterprise value to earnings before interest, tax, depreciation, and amortization) multiple of nearly 14x.
Analyzing TC PipeLines’ Distributions and Capital Expenditures
TC PipeLines’ (TCP) 3Q16 distribution per unit of $0.94 didn’t change from its 2Q16 distribution. It rose 6% from its 3Q15 per unit distribution of $0.89.
TC PipeLines Might Benefit from TransCanada in 2017
TC PipeLines stock mostly traded above its 200-day moving average since April 2016. The stock fell below the 200-day average in November and December.
EQT Midstream Benefited from Firm Reservation Contracts
EQT Midstream Partners (EQM) is a midstream MLP involved in natural gas gathering, transmission, and storage services. EQT Midstream was formed by EQT.
JP Morgan’s AMJ ETN Outperformed the MLPI ETN Last Week
The J.P. Morgan Alerian MLP Index ETN (AMJ) rose 5.2% in the week ended August 28, 2015. The Alerian MLP Index (AMZ), AMJ’s underlying index, also rose 5.1% during the week.
AMJ Outperformed the Energy ETF XLE Last Week
The JPMorgan Alerian MLP Index ETN (AMJ) fell 5.1% in the week ended August 21, 2015.
AMJ Outperformed Broad Energy and Market ETFs Last Week
The JPMorgan Alerian MLP Index ETN (AMJ) rose 4.7% in the week ended August 14, 2015. Its underlying index is the Alerian MLP Index (AMZ).
Midcoast Energy Partners: Top Midstream Gainer on July 31
Midcoast Energy Partners (MEP) was the top gainer among midstream MLPs at the end of trading on Friday, July 31. The company’s winning streak continued.
The Pros and Cons of Incentive Distribution Rights
Most MLPs restructure the IDRs when they reach high splits, as growth is capped. The markets view IDR restructuring favorably.
Introducing the UBS ETRACS Alerian MLP Index ETN
The UBS ETRACS Alerian MLP Index ETN (AMU) tracks the Alerian MLP Index (AMZ), which lists 50 large- and mid-cap energy-related master limited partnerships.
Why investors should know the best and worst MLP performers
As expected, the midstream MLP sector presents our first positive showing in our analysis of the energy industry. TCP increased ~43% in the five months under review.