Week Thoughts: Lows of 2011

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

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

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

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

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)

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

Posting drought

Sorry for the posting drought this week, been buying MLPs as they crater from all time highs. The sector as of writing is off 6.6% since last Thursday. Earnings haven't been great for most MLPs, but they are far from bad. Crude and energy weakness is probably good for volume demand for MLPs (unless crude weakness is from lack of demand). Tax scare is a

Week Thoughts on MLPs

Equity offerings, earnings releases, distribution announcements, and some M&A…busy week for MLPs. I’m still digesting it all, and if my son didn’t throw up all over himself (and the car-seat) on the way to school and if my mother in law didn’t break my kitchen sink this afternoon, I might have had more time to read today, and have more

8 Decade Secular Trend

I’m trying to figure out if there are any conclusions to be drawn from the U.S. Census data for 2010, see if I can get my tax money's worth out of it....  Massachusetts grew in population by 3.1% from 2000 to 2010, and the New England region as a whole grew in population by 3.2%.  By comparison, Texas grew its population by 20.5% in the last ten years,