Week Thoughts: MLP IPO Line Forms Here

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!

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

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

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