Archive

MLP Week Thoughts: Euro Trashed Again

26Nov
MLPs had their worst Thanksgiving week ever, and it felt like a win.  That's because the S&P 500, dragged down by the European mess, also had its worst week ever, and the MLP worst was better than the market's worst.  Its kind of like when University of Texas and Texas A&M played on Thanksgiving this year, with both teams having disappointing

November to Remember for MLPs

23Nov
November has been a consistently challenging month over the years for MLPs.  In fact, it has historically been the worst month for the MLP Index, as shown in the chart below (which includes 2011 month to date of -3.45% so far).  The MLP Index has averaged a 1.7% decline in the month of November, dragged down by the worst month ever back in November 2008

Week Thoughts: When Flat Feels Great

20Nov
MLPs were up slightly this week overall, but it has rarely felt better, with falling stocks and commodities (even gold) dropping.  The S&P 500 was down 4 out of 5 days and 48.2 points (3.8%) on the week. 40+ of those points happened on consecutive 20 point decline days on Wednesday and Thursday.  MLPs, on the other hand, shook off the largest equity

Next up in MLP IPO Queue: Memorial Production Partners

18Nov
Memorial Production Partners LP ($MEMP) filed its 4th amended IPO prospectus on November 9th, which included its expected pricing range.  At some point in the next few weeks, MEMP is going to hit the road to market 10.0 million units in its initial public offering, hoping to price between $19.00 and $21.00 per unit, and raising around $200 million in gross

5 Prevalent Misconceptions about MLPs

16Nov
Its interesting how things become common knowledge that just aren't true.  Investors often make assumptions or receive incorrect information about MLPs.  MLPs are different, to know about them is to know lots of jargon (see my glossary here), and have some understanding of taxes.  But there are retail and institutional MLP investors that don’t know

Week Thoughts: Everything Up…Except MLPs

13Nov
For any of the 900,000 people living in Connecticut who have been without power for the last 12 days, apparently you are back online, so welcome back. This week, the MLP index closed down 1.4% on a price basis (less if you consider distributions that hit this week).  The S&P 500 had a positive week (+0.8%), despite dropping 3.7% on Wednesday. 

Articles of Interest to MLP Investors

11Nov
There were a few large news items that came out this week, as well as a few interesting articles I thought you MLP readers might be interested in that I will share in this post.  Then I’ll be posting my MLP Week Thoughts later this weekend. The biggest news of the week in the pipeline industry was President Obama’s decision to delay TransCanada’s

First E&P MLP IPO in 2011: LRR Energy, L.P.

10Nov
It has been almost a year since the last E&P MLP IPO, but this afternoon LRR Energy, L.P. ($LRE) priced its initial public offering of 9.4 million units at $19.00, raising $178.8 million in gross proceeds.  Since the last E&P MLP IPO ($QRE) in December of 2010, we’ve had 2 nitrogen MLP IPOs ($UAN and $RNF), a shipping MLP, a propane MLP, 3

Equity Floods a Stormy Market and Other Bad Weather Metaphors

09Nov
So much action this week, I decided to post some mid-week thoughts. With 3 follow on offerings and 1 expected IPO, MLPs have issued more equity this week than any other week in the history of the sector (excluding the week that KMI went public earlier this year with a $2.8 billion IPO). If LRR Energy (on the road this week) prices at the mid point of its