Tallgrass Energy Partners LP

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  • uploads///system map
    Company & Industry Overviews

    Tallgrass Energy Expects 17% Earnings Growth in 2018

    Tallgrass Energy’s Natural Gas Transportation segment contributed slightly more than half of the company’s first-quarter EBITDA.

    By Rekha Khandelwal, CFA
  • uploads///P
    Energy & Utilities

    Last Week’s Biggest Losses among Energy Stocks

    Between April 20 and April 27, oilfield services stock Ensco (ESV) fell the most on our list of energy stocks.

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

    MLP Rating Updates for the Week Ended March 30

    Cheniere Energy Partners (CQP), the MLP midstream subsidiary of Cheniere Energy (LNG), saw an upward revision of its target price last week.

    By Kurt Gallon
  • uploads///institutional ownership
    Company & Industry Overviews

    What Does Institutional Investor Activity in TEP Indicate?

    Tortoise Capital Advisors, Alps Advisors, and Salient Capital Advisors are the top three institutional investors in Tallgrass Energy Partners (TEP).

    By Rekha Khandelwal, CFA
  • uploads///short int
    Company & Industry Overviews

    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.

    By Rekha Khandelwal, CFA
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    Energy & Utilities

    What’s Next for Tallgrass Energy Partners?

    Tallgrass Energy Partners (TEP) stock has been volatile in 2018. The stock fell steeply at the start of February.

    By Rekha Khandelwal, CFA
  • uploads///p
    Energy & Utilities

    Some Energy Stocks Gained More than Oil Last Week

    Tallgrass Energy Partners (TEP) was the fourth-highest gainer on our list of energy stocks last week.

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

    Which MLPs Lost More than 10.0% in the Week Ending February 9?

    NuStar GP Holdings (NSH) and its limited partnership, NuStar Energy (NS), were the top two MLP losers in the week ending February 9.

    By Kurt Gallon
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    Basic Materials

    MLP Rating Updates for Week Ended January 5

    Suburban Propane Partners (SPH), the MLP involved in retail marketing and the distribution of propane, was upgraded by UBS last week, which ended on January 5, 2017.

    By Kurt Gallon
  • uploads///Loss
    Basic Materials

    Top MLP Losers in Week Ended January 5

    Foresight Energy (FELP) was the top MLP loser last week. It fell 3.8% in a single trading session on Friday, January 5, 2018.

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

    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.

    By Kurt Gallon
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    Miscellaneous

    What’s Driving Boardwalk Pipeline’s Recent Market Performance?

    Boardwalk Pipeline Partners, a midstream MLP mainly involved in natural gas and NGL transportation and storage, is among Credit Suisse’s top MLP picks.

    By Kurt Gallon
  • uploads///Midstream SI
    Miscellaneous

    Midstream Stocks with High Short Interest: Do You Own Any?

    On January 3, 2017, EnLink Midstream (ENLC) had a short interest-to-equity float ratio of 8.9%, the highest among all midstream companies that are part of AMLP.

    By Rabindra Samanta
  • uploads///SI Midsream
    Miscellaneous

    Traders Are Most Bearish about These Midstream Stocks

    On December 12, 2016, EnLink Midstream (ENLC) had a short-interest-to-equity float ratio of 9.5%, the highest among all the midstream companies that are part of the Alerian MLP ETF (AMLP).

    By Rabindra Samanta
  • uploads///oneoks cash flows and capex
    Company & Industry Overviews

    Capital Projects Should Continue to Drive ONEOK’s Growth in 2017

    On October 19, 2016, ONEOK (OKE) declared quarterly dividends of ~$0.62 per share for 3Q16, unchanged from the previous quarter.

    By Rekha Khandelwal, CFA
  • uploads///eeps short interest as percent of float
    Company & Industry Overviews

    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.

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

    Top Five Midstream Stocks with High Short Interest

    On October 10, 2016, EnLink Midstream (ENLC) had a short interest-to-equity float ratio of 10.7%, the highest among all midstream companies that are part of AMLP.

    By Rabindra Samanta
  • uploads///SI
    Miscellaneous

    Which Midstream Stocks Are Investors Most Bearish On?

    On October 3, 2016, EnLink Midstream (ENLC) had a short interest-to-equity float ratio of 10.7%—the highest among all of the midstream stocks.

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

    MEP Trades at a Higher Forward Yield Than Its Peers

    Midcoast Energy Partners’s (MEP) forward distribution yield at 11.7% is higher compared to its peer average of 6.4%.

    By Rekha Khandelwal, CFA
  • uploads///year to date returns
    Company & Industry Overviews

    Midcoast Energy Partners Not in Great Favor with Analysts

    Midcoast Energy Partners (MEP) has generated total returns, including dividends, of 8.5% so far in 2016. Analysts’ median target price for MEP for the next year is $8, and all of the analysts surveyed rated MEP a “hold.”

    By Rekha Khandelwal, CFA
  • uploads///institutional ownership
    Energy & Utilities

    How Institutional Investors View Tallgrass Energy Partners

    Nearly 112% of Tallgrass Energy Partners’s (TEP) floating shares are currently held by nearly 160 institutional investors.

    By Rekha Khandelwal, CFA
  • uploads///teps adjusted ebitda by contract type
    Company & Industry Overviews

    What Contributes to Tallgrass Energy Partners’s Stable Cash Flow?

    Nearly 95% of Tallgrass Energy Partners’s (TEP) EBITDA is backed by firm fee or take-or-pay contracts.

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

    Which Midstream Stocks Led in Short Interest?

    As of August 29, 2016, EnLink Midstream (ENLC) had the highest short interest-to-equity float ratio among midstream stocks at 10.1%.

    By Rabindra Samanta
  • uploads///Ownership details
    Company & Industry Overviews

    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.

    By Kurt Gallon
  • uploads///aldws stock price and SI as percent of float
    Company & Industry Overviews

    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.

    By Rekha Khandelwal, CFA
  • uploads///Nat gas prices
    Energy & Utilities

    Natural Gas Hit a 13-Month High Last Week: MLP Impact

    NYMEX near-month Henry Hub natural gas futures contracts rallied for the sixth consecutive week last week.

    By Kurt Gallon
  • uploads///Ethane prices
    Macroeconomic Analysis

    Ethane Prices Fell Last Week: How It Impacted MLPs

    Mont Belvieu ethane prices fell last week after rallying for three consecutive weeks. Ethane fell by 1.6% to $0.228 per gallon in the week ended June 17, 2016.

    By Kurt Gallon
  • uploads///Nat gas prices
    Macroeconomic Analysis

    Natural Gas Continued to Rally Last Week: How Were MLPs Affected?

    Natural gas prices rose by 6.6% during the week ended June 10, 2016. They closed at $2.56 per MMBtu (British thermal units in millions) on June 10.

    By Kurt Gallon
  • uploads///Frac spread
    Macroeconomic Analysis

    Why Did the Frac Spread Keep Rising Last Week?

    The Henry Hub–Mont Belvieu fractionation spread rose for the third consecutive week to $14.5 per barrel last week.

    By Kurt Gallon
  • uploads///Nat gas prices
    Macroeconomic Analysis

    Natural Gas Prices Rose on Warm Weather: What’s the Impact on MLPs?

    NYMEX near-month Henry Hub natural gas futures contracts rose last week after three consecutive weekly declines.

    By Kurt Gallon
  • uploads///Frac spread
    Macroeconomic Analysis

    Key for Investors: The Fractionation Spread Rose Last Week

    The Henry Hub–Mont Belvieu fractionation spread rose to $13.0 per barrel in the week ending May 13, 2016. The spread was $12.4 per barrel in the previous week.

    By Kurt Gallon
  • uploads///ebitda vs consensus estimates
    Earnings Report

    Enbridge Energy: What Are Its Plans for Its Natural Gas Business?

    Enbridge Energy Partners (EEP) reported its 1Q16 results on May 2, 2016.

    By Rekha Khandelwal, CFA
  • uploads///Frac spread
    Macroeconomic Analysis

    Fractionation Spread Rose For the Fourth Straight Week

    The Henry Hub–Mont Belvieu fractionation spread rose to $12.9 per barrel in the week ending April 29. It was $12.1 per barrel in the previous week.

    By Kurt Gallon
  • uploads///ebitda and distribution per unit
    Earnings Report

    Enterprise Products: Expected to Report Flat 1Q16 Earnings

    Enterprise Products Partners (EPD) is scheduled to report its 1Q16 earnings on April 28, 2016. Analysts expect quarterly EBITDA to be slightly lower than 1Q15.

    By Rekha Khandelwal, CFA
  • uploads///Nat gas prices
    Macroeconomic Analysis

    How Recovery in Natural Gas Prices Impacts MLPs

    NYMEX near-month Henry Hub natural gas futures contracts rose for the week ending April 1, 2016, as the natural gas withdrawals for the week were higher than the historical average.

    By Kurt Gallon
  • uploads///Ethane prices
    Macroeconomic Analysis

    Gauging the Impact of Ethane Prices on MLPs

    Mont Belvieu ethane prices remained flat for the second consecutive week at nearly $0.18 per gallon in the week ending March 25, 2016.

    By Kurt Gallon
  • uploads///Frac spread
    Macroeconomic Analysis

    Behind the Fractionation Spread: Key Investor Data

    The Henry Hub-Mont Belvieu fractionation spread rose to $11.53 per barrel in the week ending March 25. The spread was $11.37 per barrel the previous week.

    By Kurt Gallon
  • uploads///Frac spread
    Macroeconomic Analysis

    MLP Drivers: Why Did Last Week’s Fractionation Spread Fall?

    The Henry Hub–Mont Belvieu fractionation spread fell slightly to $11.74 per barrel in the week ending March 18, 2016.

    By Kurt Gallon
  • uploads///Ethance prices
    Macroeconomic Analysis

    Ethane Prices Remain Flat: How Does This Impact MLPs?

    Mont Belvieu ethane prices remained flat at $0.18 per gallon for the week ending March 18, 2016.

    By Kurt Gallon
  • uploads///Nat gas prices
    Macroeconomic Analysis

    How Does the Ongoing Natural Gas Rally Impact MLPs?

    NYMEX near-month Henry Hub natural gas futures contracts continued to rally last week. There are two ways that natural gas prices impact energy MLPs.

    By Kurt Gallon
  • uploads///Ethane prices
    Macroeconomic Analysis

    Ethane Prices Continue to Rise: How It’s Impacting MLPs

    Mont Belvieu ethane prices rose 12.6% to $0.179 per gallon in the week ending March 11. Prices jumped by 13.4% to $0.159 per gallon in the previous week.

    By Kurt Gallon
  • uploads///Frac spread
    Macroeconomic Analysis

    How Does the Rise in Fractionation Spread Benefit MLPs?

    The spread between NGL prices and natural gas prices impacts natural gas–processing MLPs involved in fractionation. They typically benefit when the fractionation spread is high.

    By Kurt Gallon
  • uploads///natural gas prices
    Macroeconomic Analysis

    Natural Gas Prices Fell for the Fourth Straight Week, Hurts MLPs

    Natural gas prices fell 0.7% to close at $1.79 per MMBtu on February 26. Prices fell 8.2% in the previous week and closed at $1.80 per MMBtu.

    By Rekha Khandelwal, CFA
  • uploads///natural gas prices
    Macroeconomic Analysis

    Natural Gas Prices Fall 10%, Impacting MLPs

    Natural gas prices fell 10% to close at $2.06 per MMBtu (British thermal units in millions) on February 5. Prices had risen 7% in the previous week to close at $2.30 per MMBtu.

    By Rekha Khandelwal, CFA
  • uploads///fractionation spread
    Macroeconomic Analysis

    How a Fall in Fractionation Spread Impacted MLPs

    The Henry Hub–Mont Belvieu fractionation spread fell to $8.10 per barrel in the week ended January 1, 2016. The spread was $10.60 per barrel in the previous week.

    By Rekha Khandelwal, CFA
  • uploads///mont belvieu weekly ethane prices
    Macroeconomic Analysis

    Why Continued Drop in Ethane Prices Could Benefit Some MLPs

    Mont Belvieu ethane prices fell marginally to $0.17 per gallon in the week ending December 4, 2015.

    By Rekha Khandelwal, CFA
  • uploads///natural gas prices
    Macroeconomic Analysis

    How Last Week’s Fall in Natural Gas Prices Impacted MLPs

    NYMEX near-month Henry Hub natural gas futures contracts fell last week compared to the previous week.

    By Rekha Khandelwal, CFA
  • uploads///mont belvieu weekly ethane prices
    Macroeconomic Analysis

    How Did a Fall in Ethane Prices Impact Energy MLPs?

    Low ethane prices, combined with higher costs for storing and transporting ethane, resulted in ethane rejection. Producers leave ethane in the natural gas stream.

    By Rekha Khandelwal, CFA
  • uploads///fractionation spread
    Macroeconomic Analysis

    Fractionation Spread Rose after Falling for 3 Weeks in a Row

    The Henry Hub-Mont Belvieu fractionation spread rose to $11.2 per barrel in the week ending November 27. It was $10.3 per barrel in the previous week.

    By Rekha Khandelwal, CFA
  • uploads///natural gas prices
    Macroeconomic Analysis

    Natural Gas Prices Rose and Impacted MLPs

    NYMEX near-month Henry Hub natural gas futures contracts rose last week. Natural gas prices closed at $2.21 per MMBtu on November 27.

    By Rekha Khandelwal, CFA
  • uploads///ethane prices
    Macroeconomic Analysis

    Ethane Prices Fall—Impact of Ethane Rejection on Energy MLPs

    Mont Belvieu ethane prices fell to 17.6 cents per gallon in the week ending November 20, 2015.

    By Rekha Khandelwal, CFA
  • uploads///natural gas prices
    Macroeconomic Analysis

    Falling Natural Gas Prices Continue to Impact Energy MLPs

    Natural gas prices closed at $2.14 per MMBtu (British thermal units in millions) on November 20 after closing the previous week at $2.36 per MMBtu.

    By Rekha Khandelwal, CFA
  • uploads///EEPs ebitda by segment
    Earnings Report

    Analyzing Enbridge Energy Partners’ 3Q15 Segmental Performance

    Enbridge Energy Partners (EEP) carries out its operations through two reportable segments: Liquids and Natural Gas.

    By Rekha Khandelwal, CFA
  • uploads///EBITDA vs consensus estimates
    Earnings Report

    Enbridge Energy Partners’ 3Q15 Earnings Grew but Missed Estimates

    Enbridge Energy Partners’ (EEP) 3Q15 adjusted EBITDA was $392 million, which is 8.2% lower than consensus estimates. EEP missed its consensus EBITDA estimates in eight out of the last ten quarters.

    By Rekha Khandelwal, CFA
  • uploads///fractionation spread
    Macroeconomic Analysis

    Fractionation Spread Rose Last Week, Impacting Energy MLPs

    The Henry Hub-Mont Belvieu fractionation spread rose to $11.5 per barrel for the week ending October 30, 2015. The spread was $10.5 per barrel in the previous week.

    By Rekha Khandelwal, CFA
  • uploads///natural gas prices
    Macroeconomic Analysis

    Natural Gas Prices Rose Last Week: Impact on Energy MLPs

    Natural gas prices closed at $2.32 per MMBtu (British thermal units in millions) on October 30 after closing the previous week at $2.29 per MMBtu.

    By Rekha Khandelwal, CFA
  • uploads///oks quarterly distributions
    Earnings Report

    Why Have OKS’s Distributions Been Flat for Last Three Quarters?

    On October 21, 2015, ONEOK Partners (OKS) declared a quarterly cash distribution of $0.79 per unit. OKS’s distributions remained flat for the third consecutive quarter.

    By Rekha Khandelwal, CFA
  • uploads///OKSs ebitda by segment
    Earnings Report

    Natural Gas Liquids Segment May Drive OKS’s 3Q15 EBITDA Growth

    The acquired West Texas LPG (liquid petroleum gas) pipeline system in the Permian Basin should continue to contribute to OKS’s Natural Gas Liquids segment’s transportation volumes in 3Q15.

    By Rekha Khandelwal, CFA
  • uploads///EEPs ebitda by segment
    Earnings Report

    Analyzing Enbridge Energy Partners’ 3Q15 EBITDA Growth

    Increased capacity from assets placed into service in Enbridge Energy Partners’ Liquids segment should contribute to the segment’s EBITDA in 3Q15.

    By Rekha Khandelwal, CFA
  • uploads///fractionation spread
    Macroeconomic Analysis

    How a Fall in Fractionation Spread Affected MLPs Last Week

    The Henry Hub-Mont Belvieu fractionation spread fell to $10.1 per barrel for the week ended October 16, 2015.

    By Rekha Khandelwal, CFA
  • uploads///natural gas prices
    Macroeconomic Analysis

    How Last Week’s Rise in Natural Gas Prices Impacted MLPs

    Natural gas prices rose to close at $2.5 per MMBtu on October 9. Natural gas prices had hit a three-year low of $2.45 per MMBtu on October 2.

    By Rekha Khandelwal, CFA
  • uploads///natural gas prices
    Macroeconomic Analysis

    Natural Gas Prices Dipped Last Week: Impact on MLPs

    NYMEX (New York Mercantile Exchange) near-month Henry Hub natural gas futures contracts fell last week compared to the previous week.

    By Rekha Khandelwal, CFA
  • uploads///midcoast energy partners contract mix
    Company & Industry Overviews

    Midcoast Energy Focuses on Contract Mix to Minimize Risk

    About 47% of MEP’s contracts are commodity price sensitive. These are keep-whole contracts, percent-of-proceeds contracts, and percent-of-liquids contract.

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

    Energy Transfer Equity Has an Impressive Distribution Guidance

    For the most recent quarter, Energy Transfer Equity declared a distribution of $0.265 per unit on a post-split adjusted basis. This represents 39.47% growth YoY.

    By Kurt Gallon
  • uploads///natural gas prices
    Macroeconomic Analysis

    How Did a Rise in Natural Gas Prices Impact Energy MLPs Last Week?

    NYMEX near-month Henry Hub natural gas futures contracts rose last week compared to the previous week. Natural gas prices closed at $2.69 per MMBtu on September 11.

    By Rekha Khandelwal, CFA
  • uploads///fractionation spread
    Macroeconomic Analysis

    Why Last Week’s Fall in Fractionation Spread Affects MLPs

    The Henry Hub–Mont Belvieu fractionation spread fell to $6.82 per barrel for the week ended August 28, 2015. The spread was $7.03 per barrel in the previous week.

    By Rekha Khandelwal, CFA
  • uploads///natural gas prices
    Macroeconomic Analysis

    Natural Gas Prices Rise Last Week: The Impact on Energy MLPs

    NYMEX near-month Henry Hub natural gas futures contracts rose marginally last week compared to the previous week. Natural gas prices closed at $2.715 per MMBtu on August 28.

    By Rekha Khandelwal, CFA
  • uploads///fractionation spread
    Macroeconomic Analysis

    How Last Week’s Rise in the Fractionation Spread Affects MLPs

    The Henry Hub–Mont Belvieu fractionation spread rose to $7.54 per barrel for the week ending August 21, 2015.

    By Rekha Khandelwal, CFA
  • uploads///EPDs ngl pipelines and services segments ebitda
    Earnings Report

    How Did EPD’s NGL Pipelines and Services Segment Perform in 2Q15?

    Enterprise Products Partners (EPD) carries out its operations through five reportable segments. NGL Pipelines and Services is the MLP’s biggest segment.

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

    Cushing Inventories in 2015 Follow a Different Trend than in 2014

    While new pipelines helped drain crude oil from Cushing, some new pipelines also brought crude into Cushing and helped refill inventories there.

    By Keisha Bandz
  • uploads///Cushing
    Macroeconomic Analysis

    A must-read overview of Cushing inventories in the past year

    As new infrastructure came online, inventories at Cushing had been in a declining trend for the better part of 2014.

    By Keisha Bandz
  • uploads///Hiland Partners asset ovreview
    Miscellaneous

    Kinder Morgan has eyes wide open on Hiland Partners acquisition

    Kinder Morgan has modest expectations of the Hiland Partners acquisition. Contributions to available cash for dividends in 2015 and 2016 will be slight.

    By Alex Chamberlin
  • uploads///cushing
    Energy & Utilities

    Cushing inventories increase for the third week in a row

    Cushing, Oklahoma, is the delivery point for NYMEX crude futures contracts. It’s where a lot of supply sources of crude meet a lot of demand sources for that crude.

    By Keisha Bandz
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