Archive

Week Thoughts: MLP IPO Line Forms Here

28Sep
MLPs had a rough week, and it was roughest on small cap MLPs.  The Alerian MLP Index was down 2.1%, while the Alerian MLP Equal Weight Index was down 3.1%.  KMP had a positive week, which helped the cap-weighted MLP Index.  It was the worst week for the MLP Index since the last week of July when the index was down 4.2%, but before that the first week of

MLP Week Thoughts: Blame Canada!

21Sep
In a busy M&A and equity issuance week, MLPs bounced back with a 2.2% return vs. 1.3% for the S&P 500.  There was a wider than usual spread between performance of the cap-weighted index and the equal-weight index (up just 1.5%), which implies strength in large-cap MLPs vs. smaller cap names. Interest rates and major energy commodity prices (oil

Week Thoughts: MLPs Fall Back

14Sep
MLPs held up for most of the week, and were flat heading into Friday, when they fell sharply, along with the rest of the energy sector (the S&P 500 Energy Index -1.5% Friday and -3.7% for the week).  Lower crude oil prices appear to be the culprit when it comes to weak energy stock performance.  Rising interest rates hit utilities hard (UTY -1.8%

MLP Week Thoughts: Expanding Pipeline of Pipelines

07Sep
MLPs pulled backed this week in a flat broader stock market (MLP Index -0.8% compared with +0.2% for the S&P 500).  Falling oil & natural gas prices, a large number of MLP equity offerings and general profit taking were probably a larger contributor to MLP weakness than rising interest rates.  Utilities were up this week, despite a rising 10-year