Archive

MLP Week Thoughts: Off the Sidelines

22May
MLPs rallied for the 12th week in 15 off the bottom, finishing up 4.4% overall since last Friday.  Total return for the MLP Index is 10% year to date.  MLPs are outperforming the S&P 500 over the last 1-month, 3-months and 6-months. Oil prices continued higher this week, helped by continued global supply outages and a solid refined products

Week Thoughts: Now What?

15May
MLPs grinded higher by 0.4% this week, overcoming the first 3-week losing streak for the S&P 500 since January, helped by oil prices that broke above $46/bbl on positive demand and inventory data points. The MLP Index touched 300 intraday a few weeks ago, but still hasn’t closed above 300 since 11/30/15.  This week, the index again inched

Week Thoughts: MLPs Signal Strength, but Streak Stalls

08May
MLPs declined this week for the first time since March.  Price action wasn’t too bad, however, given that oil and natural gas were both down more than 2%, the S&P 500 declined again, we had the biggest equity offering in more than a year, and Donald Trump became “presumptive nominee” Trump. MLPs are still up nearly 5% including

Week Thoughts: MLPs Log Best April Ever

01May
MLPs held gains from last week, through a big round of distribution ex-dates and the initial round of MLP earnings, such that the total return of the MLP Index was positive for a 5th straight week.  Oil grinded higher on weaker dollar and indications of ongoing activity declines driving production lower, even as oil in inventory continues to be

Week Thoughts: MLPs Party Like its 2009

24Apr
MLPs kept the healing going in spectacular fashion this week, rallying through Doha and KMI’s weak outlook to finish up 10.5%.  MLPs were up every single day this week, sending almost every MLP up from last week. This is what MLPs trade like when there is no friction, they are able to float higher.  Friction has been removed for the moment:

Week Thoughts: Super Tuesday Keeps MLPs Green

17Apr
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

10Apr
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

03Apr
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

MLPs Version 2.0: White Paper and Webcast

31Mar
This week, we published a new white paper and companion webcast where I discuss our view of the MLP sector in this transition year.  The white paper can be found here, and the webcast can be found by clicking this link or by clicking on the picture below. In summary, we think most MLPs have options (a broad toolbox) available to them that will