Archive

Week Thoughts: MLPs Fall in the Woods

28Aug
MLPs dropped this week, after a few weeks of treading water.  The index is on pace to finish August negative, skewed by EPD (20% of the index) having a very bad month (-6.6% so far).  In any event, MLPs were due for a pause after 5 straight positive months. Given we’re in the middle of two of the sleepiest market weeks of the year, seeing MLPs

Week Thoughts: Dealer Bust, MLPs Winning

21Aug
The MLP Index finished the week roughly flat overall, but the equal weight version was up 1.0%.  The variance is attributable to several large cap MLPs dropping more than 1% for the week, including EPD, MMP and OKS.  Some of the more commodity sensitive smaller members balanced that weakness with commodity-driven gains, and WPZ traded up on the EPD

Week Thoughts: MLPs Clean Up

14Aug
MLPs outperformed in a flat week for stocks, finishing up 0.8% with distributions.  The Alerian MLP Total Return Index is now down less than 5% year over year.  MLPs have treaded water for the last month or so, but comparables vs. last year continue to improve.  Oil prices rebounded this week, up more than 6%.  Natural gas and light NGLs didn’t fare

Week Thoughts: Pull Lever to Fix Leverage, MLP Math in Action

07Aug
In a week crowded with earnings, strategic announcements and macro, MLPs continued their recent slide.  The MLP Index was down 0.4% including distributions.  Oil prices were volatile, but crossed back above $40 definitively after Wednesday’s inventory report.  Friday’s strong jobs report pushed interest rates higher and pressured utilities.  MLPs