Archive

MLP Week Thoughts: Winter is Coming

29Nov
A day after OPEC rocked the global oil markets with inaction, the U.S. markets opened for 3.5 hours Friday, and energy stocks were crushed.  The Alerian MLP Index (AMZ) ended Friday down 5.2%, its worst day in more than 3 years.  For the week, MLPs gave back all the gains from last week times two, with the AMZ down 6.0% and the equal-weight version (AMZE)

Week Thoughts: MLP Weighting Game On

23Nov
MLPs had their best week since early August, outpacing the broader equity markets as energy commodity prices stabilized.  The Alerian MLP Index was up 3.4%.  U.S. domestic oil price finished the week with back to back positive trading sessions to close the week up 1.2%. Expect volatile oil price trading next week ahead of OPEC’s 11/27 meeting, when

Week Thoughts: MLP Neutrality

16Nov
MLPs finished the week down 0.6%, saved from a worse print by a 1.3% positive move on Friday.  The equal weight MLP index lagged the cap-weighted version by 80 basis points, continuing the trend discussed here last week.  The MLP index remains 5.7% below its peak at the end of August, but 11.2% higher than its mid-October low. But again, oil’s

Week Thoughts: MLPs Working Big to Small

09Nov
MLPs kept pace with the slight gains of the broad stock market this week, even as oil prices touched multi-year lows mid-week.  MLPs caught up with the market with big gains Friday, when the MLP Index was up 2.0%.  Year to date total return for the MLP Index ended the week at a nice round 15%.  Elections in the U.S. gave Republicans control of the House

Week Thoughts: MLPs Fall Back

02Nov
MLPs sold off this week, moving in the opposite direction of the broader stock market and other yield-based equities (like utilities).  Interest rates and commodity price movements likely weren’t much of a factor in the underperformance.  Distribution ex-date trading was likely in MLP weakness.  Another potential driver is MLP investors reassessing