During 1Q MLP earnings season, what are you most interested in hearing about from MLPs?

  • Balance Sheet: Leverage, progress on reductions in leverage (38%)
  • Top Line: Volume, throughput trends (25%)
  • Customers: Defaults, counterparty credit information (21%)
  • Margins: Cost reductions, rate pressure, leverage to improving commodity prices (11%)
  • External growth: M&A, new project opportunities (6%)

Total Voters: 195

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Week Thoughts: Super Tuesday Keeps MLPs Green

MLPs rallied again this week, making it 3 straight positive weeks and 8 of the last 10.  The AMZ finished the week with a 1.1% gain, although the gains were isolated to a 3.5% rally on Tuesday. Oil prices finished the week up around 2%, breaking above $40/bbl and staying above, despite fading late in the week as uncertainty regarding the upcoming meeting

Week Thoughts: MLP Melt-Up Continues

MLPs made it two straight positive weeks with a 1.9% gain.  This time MLPs de-coupled from the broader stock market and re-coupled with oil.  Oil prices are the headline, rallying 6%+ on Friday alone.  But NGL prices had a strong week as well, particularly ethane which is up year-over-year even as everything else is down big (its only $0.02/gallon, but

Week Thoughts: Brief De-Coupling on Bottom Fishing

MLPs rallied most of the week, trading up with the broader market on dovish commentary from the Fed, even as oil prices continued to breakdown throughout the week.  Friday’s 4% oil price drop caught up with MLPs, which erased most of the week’s gains with a 2.7% decline.  But MLPs did finish March up 8.3% and closed out the week slightly higher
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