Poll

Which pipeline gets approved by FERC first?

  • Atlantic Coast Pipeline (D/DM) (40%)
  • NEXUS (ENB/DTE) (33%)
  • Mountain Valley Pipeline (EQM/NEE) (28%)

Total Voters: 80

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Week Thoughts: Quorum for FERC, MLP Investor Quorum Elusive

06Aug
MLPs declined 1.4% including distributions this week, despite flat oil prices near $50/bbl, a flat broader market and still low interest rates.  The price index dropped to its lowest level since late June, reversing the slight bounce in July.  The equal weight version of the MLP Index underperformed by 50 basis points this week, indicative of small cap

Week Thoughts: MLPs on Mute

30Jul
Oil was up all week long, MLPs were flattish all week long.  The MLP Index finished exactly where it started on a price basis, but distributions added 0.8% to tilt total return slightly positive. With a benign set of results and robust commodity backdrop, muted MLP price action this week is discouraging.  There are several possible reasons for

Week Thoughts: Excellent Adventure for KMI, Bogus Journey for MLPs

23Jul
Recent MLP tailwinds (oil prices, lack of equity issuance) reversed this week, pumping the brakes with a 1.9% decline after 3 weeks of outperformance.  The move this week reversed last week’s 1.9% gains and mirrored the drop in oil prices. NGL prices were up and interest rates declined, but otherwise prime conditions from last week were not in place this
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