Archive

Happy Samhain Everybody

30Oct
According to the History Channel and Wikipedia, Samhain is one of the things that influenced what is today Halloween.  Samhain was a Gaelic harvest festival celebrated at the end of October that: marked the end of the harvest, the end of the "lighter half" of the year and beginning of the "darker half". It was celebrated over the course of several days

MLP Week Thoughts: Up Jumps the Market

29Oct
Great week to be in anything but cash.  Its been a trick or treat market this year, but this week (and this month) was a treat for long investors.  Positive U.S. GDP number seemed to be the biggest driver of the rally, but the Euro plan and several other positive data points from U.S. and China also helped.  Risk was on this week, particularly on

Cheniere to Export LNG! …in 2015

29Oct
On Wednesday, Cheniere Energy, Inc ($LNG) and Cheniere Energy Partners ($CQP) announced that their subsidiary Sabine Pass Liquefaction, LLC has entered into its first liquefied natural gas (LNG) sale and purchase agreement with a subsidiary of BG Group plc, whereby BG Group will purchase LNG from Cheniere (press release). Deal specifics: 0.5 bcf per

Week Thoughts: MLPs Streaking Higher on M&A Deals

24Oct
MLPs kept a lot of bankers, lawyers and investor relations professionals very busy last week in an explosion of M&A and strategic announcements.  Investors were busy digesting the deals and buying MLPs it appears.  For the week, the MLP Index was up 2.4%, and is on a streak of 10 straight positive days.  MLPs have now bounced 10.4% off the October

General Partners: The Parasite Trade

19Oct
I was moderator for a panel at the Dealflow Media MLP Conference this week on the legal and regulatory issues facing MLPs, with great panelists John Goodgame of Akin Gump and Mike O’Leary of Andrews Kurth.  On that panel we touched on the history of the MLP sector and evolution of the structure over the years.   That discussion covered many points

Thoughts on MLP Conference

19Oct
Dealflow Media put on a conference this week in New York.  It was a great opportunity to have intimate conversations with some very important professionals and investors who have helped shape the MLP space over the years.  The folks at Dealflow will be launching a subscription based newsletter very soon, and have committed to another conference next year,

Plot Twist in EPB Drop Down Story: Kinder to Buy El Paso

17Oct
Kinder Morgan, Inc. ($KMI) has transformed itself again, this time from a pure general partner holding company into a company that will own operating assets and the general partner interests in 2 MLPs.  In a deal valued at $38 billion, KMI will buy El Paso Corp ($EP) in a combination of cash and KMI shares that values EP shares at $26.87, a 37% premium to

Week Thoughts: Tide Lifts MLPs, Apparently It’s All Good

15Oct
The lack of bad news this week seemed to be enough to spark a rally for the markets.   The MLP Index finished the week up 5.2%, and is up 7.8% in the last 8 trading days.  But while the S&P 500 and Dow both closed the week at their highest levels since August 3rd, MLPs are still below their close on September 20th at 358.50.  So, since September

Barrons on Action in MLP Exchange Traded Products

12Oct
Yesterday, I spoke with Barron's reporter Murray Coleman, who has a blog called Focus on Funds, in which he discusses happenings in ETFs, mutual funds and hedge funds.  Apparently yesterday, his world overlapped the MLP world, when news came out that shares of Exchange Traded Note (ETN) JP Morgan Alerian MLP ETN ($AMJ) were halted for a few minutes about