Archive

MLP Week Thoughts: Watch for Creeping Staleness

29Apr
Before I get into this week's news and thoughts, I want to take  minute to reminisce on the last 365 for MLPs and the market.  Last year, on April 28, 2011, the MLP Index closed at 390.0, its highest close for 2011.  The next five trading days were down, chopping 6.6% off the index in the process.  MLPs continued lower throughout the summer, bottoming

MLP Winners & Losers: Nat Gas & Inergy Bounce, Wide Angle Still Ugly

27Apr
Everything was up this week, but MLPs were near the bottom of the list as shown below.  Natural gas futures were up more than 13% week over week, driving the energy sector higher (XLE was up 2.6%).  The S&P 500 was up 1.8%, breaking a 2 week streak of MLP outperformance. Propane doesn't look so bad this week, but its all about timing.  NRGY's

MLP Week Thoughts: Earnings Incoming, Strap In

22Apr
The start of earnings season was in focus this week, and while AAPL had a rough week (down 5.3%, second straight down week), the rest of the S&P 500 did fine, up 0.6% on the week.  MLP performance was varied this week, but the large caps did very well, so the MLP index was up 1.8%,  gaining on the S&P 500 slowly.  Its a race to the bottom between

Winners & Losers: MLPs Up Despite New Lows for Natural Gas

21Apr
MLPs outperformed the S&P 500 for the second week in a row, and this time when both were up, not down.  Natural gas continued down, closing the week well below $2.00 per mmbtu.  Variable distributon MLPs were down 3.5% on average, led by a 10% drop by everyone's favorite Terra Nitrogen and a 6% drop for Dorchester Minerals (which went ex-date this

Column: Thoughts on Ole King Coal

19Apr
My latest column is out at equities.com.  Click here to read it.  It's all about the headwinds coal faces, which include: Coal to natural gas switching Potential carbon regulation High coal stocks sitting at power plants Weak economy and conservation Edited out of the piece were a series of exhibits, which I've attached

MLP Week Thoughts: Got Liquids?

14Apr
Happy distribution announcement season!  So far 8 MLPs and 1 GP have announced their distributions for the 1st quarter 2012.  6 out of 8 MLPs increased distributions, with average distribution growth of 2.3% quarter over quarter.  All of that equity and capex from last year should start to bear fruit in the next few quarters, and lead to a strong year of

MLP Winners & Losers: “Old Timer’s” Week for Coal Stocks

13Apr
Like a retired professional baseball player coming back to the stadium for an old timer's game, old King Coal came back for a week of glory.  Analyst reports and the media have been trying to call the bottom for coal companies, and this week all that noise combined with record export levels released by the EIA to send coal stocks higher.  ANR,

Week Thoughts: E&P MLP Acquisition Boom Continues

05Apr
Short week and the Masters on TV equals short Week Thoughts post, with Winners and Losers charts at the end, so keep scrolling.  Here goes... Fears that the Fed may not keep the stimulus flowing, rising government borrowing costs in Spain and further signs of weak growth in Europe weighed on the market this week.  But that didn't stop AAPL from closing

Column: Closed End Fund Outperformance YTD

05Apr
My latest post is up at Equities.com.  In it, I give credit to the MLP focused closed-end funds for outperforming the MLP Index to date, and talk about some of the reasons why.  Click here to read it. Bonus Spreadsheet As a bonus available exclusively on my site, see below or click here to look at the spreadsheet of all the MLP investment