Week Thoughts: Roses are Red, Midstream is Green

MLPs finished positive for the week, but underperformed the rest of Midstream, the S&P 500, utilities, and oil prices.   The broader energy infrastructure index (AMEI) traded better on the back of a strong week in Canadian Midstream and some of the larger U.S. Midstream Corporations. Midstream earnings released this week were better than last

Week Thoughts: MLPs Bleeding Green

More pain for midstream and MLP stocks this week.  The negative factors from last week remained, but oil prices piled on this week.  Oil prices are on a 6-day losing streak and broke below $60/bbl Friday.  Stocks were volatile, and midstream/MLPs held up ok on a relative basis and have been a decent place to hide the last few weeks if you avoided the

Week Thoughts: E-Brakes Slam Midstream

In a rough week for stocks of all kinds, energy stocks and midstream/MLPs stood out as particularly weak.  The MLP Index declined 5.9%, including distributions, the first 5%+ decline week in nearly two years (since February 2016).  The 10-year treasury rate rose another 17 basis points, and sits just 17 more bps from 3.00%.  Oil prices held up well and

Week Thoughts: Midstream Elephants on Parade

Midstream stocks resumed their elevation this week, mostly keeping up with the torrid pace of the broad market.  The S&P 500 gained another 2.2% this week (although without much help from KMI -1.3%).  Oil and natural gas prices also shot higher, helped by falling inventories and a falling U.S. dollar.   The MLP Index has gained 10% already this

Week Thoughts: Pausing Midstream

Midstream stocks sold off this short week, taking a breather from their sprint off the bottom.  MLPs had traded up in each of the last 5 weeks, so a pause isn’t surprising.  The MLP Index traded down the first 3 days of the week, before a reversal and positive finish Friday. The U.S. 10-year interest rate rose 11 bps to 2.66%, which when combined

Week Thoughts: MLPs Leveling Up

MLPs had their best week since…last week, up each day this week for another 4.6% since last Friday.  It was a fifth straight positive week, the first such streak since April 2016.  The Index is now 19% higher than the end of November recent bottom. MLP strength this week was helped by higher oil prices, higher broad stock market and what I

Week Thoughts: Hustle & Flows

It was a great opening week for midstream stocks, or almost any other kind of stock (ex-utilities and REITs). MLPs have traded up for 4 consecutive weeks, the first streak of 4+ positive weeks since April 2016.  4.5% is the best week for MLPs since late last January.  MLPs are also 13.9% off the late November bottom.  The MLP Index opened with

Week Thoughts: Settling Up

MLPs closed out a forgettable year (-6.5%) with a forgettable week (+0.5%).  MLPs did beat the broad stock market and utilities this week in what has recently become a trend (that hopefully continues in the new year).  Oil prices gained another 3% and finished on a multi-year high (above $60/bbl for the first time since mid-2015). Status

Week Thoughts: MLPs Mopping Up, Making Merry

MLP optimism continues to build, as MLPs shrugged off higher interest rates that hurt other yield-oriented securities to gain another 0.5% this week.  MLPs are now up more than 8% off the late November bottom.  Outside of the changes to the tax backdrop, not much else changed this week.  There was some volatility early in the week, with MLPs threatening