Williams Partners LP

Hurricane Harvey hit the US Gulf Coast last week. The US Gulf Coast is a major destination for US refineries and energy infrastructure.

Significantly higher rates of propane exports have helped to boost propane prices—and the margins of some MLP names.

MLPs’ sluggishness continued last week despite strong crude oil. The Alerian MLP Index (^AMZ), which tracks the performance of 50 energy MLPs, fell 1.2% last week.

MLPs recovered slightly in the week ending August 25—possibly due to an overcorrection in the first three weeks of the month.

Companies in the natural gas processing space—many of which are MLPS—keep an eye on the fractionation or “frac” spread. Here’s why.

MLPs went through some carnage last week. The Alerian MLP Index (^AMZ), which tracks the performance of 50 energy MLPs, saw a new 52-week low of 258.45.

On November 26, 2014, Kinder Morgan acquired all of its equity interests in Kinder Morgan Partners, El Paso, and Kinder Morgan Management.

Of the total 95 MLPs, 62 ended last week in the red, 30 ended in the green, and the remaining three ended flat. Energy Transfer Partners (ETP) fell 5.5%.

About 78.0% of analysts rate Williams Companies (WMB) a “buy,” while the remaining 22.0% rate it a “hold” as of August 21, 2017.

In this series, we’ll look at the historical outliers in midstream energy, which have generated massive wealth amid turbulent times.

ETP operates primarily through its six business segments by leveraging its huge asset base.

Regency recently acquired a foothold in the Marcellus by buying PVR Partners LP in March this year in a deal worth $5.6 billion, specifically to boost its footprint in the Appalachian Basin.

High leverage and a complex capital structure have been a drag on Energy Transfer Partners’ market performance.

MLPs underperformed the energy sector and the broader US markets last week. Let’s take a look.

MLPs (master limited partnerships) cooled off last week, which ended on January 19, after two weeks of a strong rally.

Williams Partners (WPZ) expects its 2017 distributable cash flow to lie between $2.6 and $2.8 billion. At the midpoint, this range represents a ~9.0% YoY (year-over-year) decline.

Energy Transfer Partners (ETP) had a strong start to the year with a rise of ~6.5% in 2018 YTD (year-to-date).

MLPs maintained their winning streak in the second week of 2018. The Alerian MLP Index (^AMZ) rose 4.6% last week and ended at 300.5.

Williams Companies (WMB) has had a massive start to the year. It’s risen nearly 9% in seven trading sessions in 2018. Overall, the C corporation GP (general partner) has risen ~14% since the start of December 2017.

MLPs were strong in the week ending December 15, 2017. The Alerian MLP Index (^AMZ) had a strong start last week although it fell slightly on Friday.

Most MLPs (master limited partnerships) closed the week ended December 1 in the red, after seeing some gains earlier in the week.

Energy Transfer Partners’ DCF rose 27.5% YoY to $1,049 million in 3Q17 compared to $823 million in 3Q16.

MLPs (master limited partnerships) recovered slightly last week (ended December 1, 2017), after three weeks of sluggishness.

In this article, we’ll look into the commodity price exposure of the MLP at the seventh spot, Enterprise Products Partners (EPD).

The short interest as a percentage of float in Enterprise Products Partners’ (EPD) stock is 1.8%—higher than the 1.7% in mid-August.

Liquids pipelines and terminaling MLPs, as the name suggests, are involved in crude oil, refined product, and NGLs (natural gas liquids) transportation and storage.

The number of MLPs has risen from a mere 32 in 2003 to 117 as of November 2016. 83% of total MLPs are energy and natural resources–related.

EPD’s Natural Gas Liquid Pipelines & Services segment involves natural gas processing plants and NGL marketing activities.

MLPs clearly stand out when compared to other asset classes because of their structure, yields as compared to other asset classes, and stability of cash distribution.

MLPs are engaged in the production, transportation, storage, and processing of natural resources like oil, natural gas, and NGLs. They’re public companies.

Unit price for DCP Midstream decreased 24% in the past year. The fall is particularly sharp since the end of October when its unit price crashed 32%.

With attractive NGL pricing relative to naphtha refinery streams, the feedstock percentage of NGLs has been increasing, with ethane taking a disproportionate share of the total.