Tesoro Logistics LP

Most Recent

  • uploads///distillate
    Macroeconomic Analysis

    US Distillate Inventories Were Down Less than Expected Last Week

    The EIA reported that US distillate inventories fell by 0.3 MMbbls to 151.6 MMbbls in the week ending September 25.

    By Keisha Bandz
  • uploads///Losers
    Macroeconomic Analysis

    Targa Resources Partners: Top Midstream Loser on July 30

    Targa Resources Partners (NGLS) was the top loser among midstream MLPs at the end of trading on Thursday, July 30. It fell 4.13% yesterday.

    By Kurt Gallon
  • Energy & Utilities

    Why smaller oil and gas firms are foraying into high yield debt

    High yield debt markets saw $6 billion worth of new supply issued across 12 transactions in the week ending October 24.

    By Phalguni Soni
  • uploads///ebitda vs consensus estimates
    Earnings Report

    Acquired Assets Drove Holly Energy Partners’ 4Q15 Earnings Growth

    Holly Energy Partners reported its 4Q15 results on February 23, 2016. Its adjusted EBITDA for 4Q15 was $67.4 million, 28% higher than its 4Q14 EBITDA.

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

    US Gulf Coast 3:2:1 Crack Spread Rose 25% Last Week

    The benchmark US Gulf Coast 3:2:1 crack spread rose ~25% last week. It hit $13.115 per barrel on Friday, September 25

    By Keisha Bandz
  • uploads///tllp price targets
    Company & Industry Overviews

    Should You Include Tesoro Logistics in Your Portfolio?

    Of the analysts surveyed by Bloomberg, 80% rated Tesoro Logistics as a “buy,” and 20% rated it as a “hold.” No analysts rated it as a “sell.”

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

    Why Did Gasoline Inventories Fall at the End of June?

    Gasoline production increased from 9.93 million barrels per day (or MMbpd) in the week of June 19 to 10.04 MMbpd in the week ended June 26.

    By Keisha Bandz
  • uploads///gasoline stocks
    Macroeconomic Analysis

    US Gasoline Inventories Surprise Markets: WTI Crude Takes a Hit

    The EIA (U.S. Energy Information Administration) reported that US gasoline inventories increased by 1.7 million barrels (or MMbbls) to 214.4 MMbbls in the week ended August 21.

    By Keisha Bandz
  • uploads///GASOLINE PRICES
    Macroeconomic Analysis

    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.

    By Keisha Bandz
  • uploads///gasoline
    Macroeconomic Analysis

    US Gasoline Inventories Supported WTI Prices Week Ended October 16

    The EIA reported that US gasoline inventories decreased by 1.5 MMbbls (million barrels) to 219.8 MMbbls in the week ended October 16.

    By Keisha Bandz
  • uploads///diesel prices
    Macroeconomic Analysis

    Diesel Prices Decline for a 2nd Week: Good for the Economy

    US on-highway diesel fuel prices averaged $2.884 per gallon this Monday, June 8. That’s ~26% lower than they were a year ago.

    By Keisha Bandz
  • uploads///gasoline
    Macroeconomic Analysis

    US Gasoline Inventories Could Spill Outside the 5-Year Range

    The EIA reported that US gasoline inventories increased by 3.3 MMbbls to 222 MMbbls in the week ending September 25.

    By Keisha Bandz
  • uploads///diesel
    Macroeconomic Analysis

    What Drove Diesel Prices Higher the Week Ended September 4?

    Prompt New York Harbor ultra-low-sulfur diesel futures traded on the NYMEX closed ~2.4% higher on a weekly basis at ~$1.62 per gallon in the week ended September 4.

    By Keisha Bandz
  • uploads///gmr
    Energy & Utilities

    Why Tesoro’s crude oil gathering and pipeline segment is positive

    Tesoro Logistics’ (TLLP) operations are organized into the Crude Oil Gathering segment and the Terminalling and Transportation segment.

    By Keisha Bandz
  • uploads///Best Performers
    Macroeconomic Analysis

    Analyzing the Best Performing Midstream MLPs on June 25

    The best performing midstream MLP on Thursday, June 25 was Western Gas Partners (WES). It rose 0.5% yesterday. However, it’s close to its 52-week low.

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

    Why the MLPJ ETF shows tracking error versus its benchmark index

    The effect of sampling—the difference in the holdings between MLPJ and its benchmark index—is another cause of the tracking error.

    By Alex Chamberlin
  • uploads///gasoline
    Macroeconomic Analysis

    What Caused a ~6% Drop in Gasoline Prices Last Week?

    Gasoline prices loosely track changes in crude oil prices (USO), usually Brent crude oil prices, the international benchmark.

    By Keisha Bandz
  • uploads///diesel prices
    Macroeconomic Analysis

    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.

    By Keisha Bandz
  • uploads///DIESEL PRICES
    Macroeconomic Analysis

    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.

    By Keisha Bandz
  • uploads///P Overview
    Company & Industry Overviews

    Tesoro Corporation: The quintessential American independent refiner

    Tesoro (TSO) operates six refineries spread mainly across the western United States, with a combined capacity to process ~850,000 barrels of crude per day (or bpd).

    By Manas Chowgule, CFA
  • uploads///PSXP Stock Performance
    Earnings Report

    Phillips 66 Partners to Report 1Q15 Earnings on April 30

    Phillips 66 Partners (PSXP) is scheduled to release its 1Q15 earnings on April 30. Its stock price was $71.57 as of April 24.

    By Keisha Bandz
  • uploads///gasoline
    Macroeconomic Analysis

    Why US Gasoline Prices Fell Last Week

    US gasoline prices fell on Monday on concerns that there will be a gasoline glut as the busy summer driving season winds down. Prices fell to their lowest in eight months.

    By Keisha Bandz
  • uploads///weekly AMLP yr treasury spread
    Macroeconomic Analysis

    Why MLP and 10-Year Treasury Yields Converged Last Week

    US ten-year Treasury yields rose to close at 2.1% on October 9. They traded at a yield of 2% at the end of the previous week.

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

    How Midstream Stocks Impacted Their Implied Volatilities

    In the past week, EnLink Midstream (ENLC) fell the most. On May 2, 2017, it reported negative 1Q17 diluted earnings of $0.01 per common share.

    By Rabindra Samanta
  • uploads///distillate
    Macroeconomic Analysis

    US Distillate Inventories Down for 7th Consecutive Week

    US distillate inventories fell by 1.3 MMbbls to 140.8 MMbbls in the week ended October 30, 2015. Inventories have now been falling seven weeks in a row.

    By Keisha Bandz
  • uploads///midstream
    Macroeconomic Analysis

    EPD Gained 4.24%, Moved above Its 100-Day Moving Average

    Enterprise Products Partners (EPD) closed 2.64% above its 100-day moving average at $25.10 on March 7. The stock crossed its 20-day moving average on February 17.

    By Rabindra Samanta
  • Energy & Utilities

    Why Tesoro’s Los Angeles logistics acquisition is driving growth

    In December 2013, Tesoro Logistics closed its acquisition of Los Angeles logistics assets owned by Tesoro Corp’s (TSO) subsidiary, Tesoro Refining and Marketing Company LLC.

    By Keisha Bandz
  • uploads///Loss
    Energy & Utilities

    CSI Compressco Was the Top MLP Loser Last Week

    CSI Compressco (CCLP), the MLP mainly involved in natural gas compression, was the highest MLP loser in the week ending November 3, 2017.

    By Kurt Gallon
  • uploads///weekly fund flows in amlp
    Miscellaneous

    Net Fund Flows in AMLP Were Negative Last Week

    The net fund flows in the Alerian MLP ETF (AMLP), an ETF that consists of top energy MLPs, were -$66.8 million for the week ended June 9, 2017.

    By Rekha Khandelwal, CFA
  • uploads///analysts are bullish on tllp
    Miscellaneous

    74% of Analysts Call Tesoro Logistics a ‘Buy’

    On June 2, 2017, Barclays resumed its coverage of Tesoro Logistics (TLLP) with an “overweight” rating. Barclays has given TLLP a target price of $65.

    By Rekha Khandelwal, CFA
  • 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///tllps per unit distribution
    Company & Industry Overviews

    Tesoro Logistics Expects 12%–15% Distribution Growth for 2017

    Tesoro Logistics (TLLP) expects its distributions to grow 12%–15% for 2017.

    By Rekha Khandelwal, CFA
  • uploads///TTLPs ytd total returns
    Earnings Report

    Why Tesoro Logistics Raised Capital in 2Q16

    On July 1, 2016, TLLP announced the acquisition of storage and terminaling assets from Tesoro Corporation (TSO) for $444 million.

    By Rekha Khandelwal, CFA
  • uploads///psxp distributable cash flow and distributions per unit
    Company & Industry Overviews

    What Is PSXP’s Annual Distribution Growth Goal?

    Phillips 66 Partners’ (PSXP) capital expenditure in 1Q16 was $57 million compared to $32.9 million during the same period in 2015.

    By Rekha Khandelwal, CFA
  • uploads///US crude by rail movement
    Energy & Utilities

    US Crude-by-Rail Movements Keep Falling: MLP Impact

    The decline in crude oil movements by rail negatively impacts midstream MLPs.

    By Kurt Gallon
  • uploads///forward dist yield to dist growth
    Company & Industry Overviews

    How Does Phillips 66 Partners Compare to Its Peers?

    Over the next two years, Phillips 66 Partners is expected to have compound distribution growth of 26%.

    By Rekha Khandelwal, CFA
  • uploads///broker recommendations
    Earnings Report

    Tesoro Logistics Posts Strong 1Q16 Data: How Did Its Stock React?

    Of the analysts surveyed by Bloomberg, 75% rated Tesoro Logistics (TLLP) a “buy,” while 25% rated it a “hold.”

    By Rekha Khandelwal, CFA
  • uploads///US On Highway Diesel Fuel Price
    Macroeconomic Analysis

    Will Diesel Prices Recover in the Near Future?

    On Monday, December 14, 2015, the EIA’s weekly gasoline and diesel fuel price updates showed that diesel fuel prices averaged $2.33 per gallon on the day.

    By Manu Milan
  • uploads///WTI BRENT
    Macroeconomic Analysis

    US Gasoline Prices Recovered after Falling to 6-Year Low

    US gasoline prices mirrored crude oil prices and began falling early last week. They fell to their lowest in six years on Monday.

    By Keisha Bandz
  • uploads///weekly amlp  yr treasury yield spread
    Macroeconomic Analysis

    MLP Yields and 10-Year Treasury Yields Diverged Last Week

    The Alerian MLP ETF (AMLP) traded at a yield of 9.05% as the week ended September 25 wrapped up. The yield rose significantly during the week from 8.50%…

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

    What Drove Rice Midstream’s Revenue since Its IPO?

    Rice Midstream is a midstream MLP that provides natural gas gathering and compression services to natural gas producers in the Marcellus Shale.

    By Kurt Gallon
  • uploads///weekly US crude oil supply and demand
    Macroeconomic Analysis

    July 31 Week: Movement in Crude Oil Inventories Impacts MLPs

    According to the data released on August 5, US crude oil inventories fell 0.96% for the week ending July 31—compared to the previous week.

    By Rekha Khandelwal, CFA
  • uploads///gasoline stocks
    Macroeconomic Analysis

    Gasoline Inventories Rise in June 12 Week: More Bad News for WTI

    The EIA reported that gasoline inventories rose by 0.5 MMbbls to 217.8 MMbbls in the week to June 12. Analysts expected inventories to fall by 800,000 barrels.

    By Keisha Bandz
  • uploads///gasoline stocks
    Macroeconomic Analysis

    Gasoline Inventories Offer Some Support to Crude Oil Prices

    The EIA reported that gasoline inventories decreased by 0.3 MMbbls to ~220.3 MMbbls in the week to May 29. This is bullish for gasoline prices.

    By Keisha Bandz
  • uploads///gasoline stocks
    Macroeconomic Analysis

    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.

    By Keisha Bandz
  • uploads///distillate
    Macroeconomic Analysis

    Distillate Inventories Increased Last Week

    Distillate demand drives crude demand and crude prices. So, energy investors watch distillate inventories closely.

    By Keisha Bandz
  • uploads///GASOLINE PRICES
    Macroeconomic Analysis

    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.

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

    Ups and Downs: Analyzing MPLX’s Stock Performance

    MPLX stock initially declined in September 2014. This is the starting point that we took for the comparison. It’s also when oil prices started declining rapidly.

    By Keisha Bandz
  • uploads///TSO P EV
    Company & Industry Overviews

    A key analysis of Tesoro’s enterprise value

    Tesoro’s EV has grown ~28% to ~$10.5 billion at the end of 3Q14 from the end of 2007. It has been managing its debt levels very well in the context of its capital and overall size.

    By Manas Chowgule, CFA
  • uploads///TSO P CFF
    Company & Industry Overviews

    Tesoro’s cash flow from financing activities

    Tesoro’s activities at the cash flow from financing level have been both a source and a destination for Tesoro’s cash over the years.

    By Manas Chowgule, CFA
  • uploads///TSO P CFI
    Company & Industry Overviews

    An overview of Tesoro’s capex and cash flow from investments

    Over the last seven years, Tesoro’s capex saw a pattern that reflects the fortunes of the sector. Tesoro also made acquisitions that required it to spend well in excess of its CFO.

    By Manas Chowgule, CFA
  • uploads///TSO P BS
    Company & Industry Overviews

    An essential analysis of Tesoro’s assets, liabilities, and equity

    Tesoro’s assets increased ~65% from 2007 to 2013, driven by a massive $1.2-billion build in its cash reserves. Current assets doubled, and long-term assets took a ~46% bump.

    By Manas Chowgule, CFA
  • uploads///P BW MLP
    Macroeconomic Analysis

    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.

    By Manas Chowgule, CFA
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