Archive

MLP Week Thoughts: Summer Streaking!

04Jul
5 consecutive positive days for the S&P 500, 5 consecutive days of rising interest rates, and 10 consecutive positive days for the MLP Index, which was up 2.7% this week and 5.6% over the 10 day winning streak. If the MLP Index closes up for Tuesday, making the streak 11 days, this current streak would enter a very small club.  Streaks of more

MLP Initial Public Offering Update

27Jun
With two MLPs filing to go public last week, it seems like a good time to provide an update on the recent initial public offering market for MLPs.  Thus far in 2011, there has been a flurry of MLP IPOs, at least by 2009 standards (when there were no MLP IPOs at all).  So far in 2011, there have been 5 MLP IPOs priced, 1 GP IPO (in a corporate structure -

Week Thoughts: WMB Makes it Rain

24Jun
Mid-week Bernank comments, followed by weak unemployment claims figures, plus the ongoing Greek issues the stock market down hard towards the end of the week.  Signs of weakening economy and the release of strategic petroleum reserves pushed crude oil prices, and therefore most energy companies down.  One of the few bright spots was the MLP sector, which

Week Thoughts: Lows of 2011

17Jun
Down week overall for the index at 2.8%, compared with flat broader markets and stable interest rates.  The MLP Index closed at 353.5, a fresh low for 2011, but still 16% higher than a year ago (not counting distributions). There was some rallying towards the end of the session in EPB, BWP, NRGY and a few others, on strong volume.  See the

Week Thoughts: Stocks Down, MLPs Up

10Jun
MLPs had an extremely strong finish to the week after a rough few days earlier in the week.  The MLP Index rose 1.6% on Thursday, then another 0.7% on Friday.  For the week, MLPs were up 0.2%, after recovering from a 2.1% drop on from last Friday to Tuesday.  See the chart of this week's action for the Alerian MLP Index. This Friday’s positive

MLPs and ETP as it Relates to Jim Cramer

08Jun
There are people in the blogosphere and on Twitter who try to take shots at Jim Cramer to get traffic.  Cramer has taken shots back at several of them on Twitter, doesn’t seem like a winning long-term strategy.  For this post, I’m going the other way. Source: Penn State. Cramer has done an excellent job in general promoting the MLP sector to the

Week Thoughts: MLP Correction Resumes

03Jun
MLPs were down 1.2% this week (S&P 500 was down 2.3%), after 2 consecutive weeks of slight gains.  At around 363 on the MLP index, we remain 7.0% lower than the April 28th peak.  During that time, the 10-Year US Treasury interest rate has tightened 30 basis points from 3.3% down to 3%.  So MLPs, which are yielding around 6.8% (compared with around

MLP Conference Surprises

27May
There were a few surprises this year at the MLP conference, I'll try to summarize some of them below.  Boardwalk Equity - Last year, WES issued equity immediately after the conference. I spoke with Benjamin Fink (CFO of WES) about the offering last year, and how awkward the last few one on one meetings were before the press release for the equity

MLP Conference: Sentiment Positive (as Always)

26May
The most important thing to remember about what you hear anywhere: the messenger is as important is the message.  This is definitely important to remember at the MLP conference, be wary of what research analysts say, be wary of what management says, be wary of what investors say. For example, at the beginning of the conference, Kevin McCarthy and Dave