Have MLPs and Midstream Actually Reduced Leverage?

Reducing leverage has been a theme across midstream for some time, but have midstream MLPs and C-Corporations actually delevered? Today, we examine leverage metrics from 2016 to 2018 for the current North American midstream universe. Whose positioning has improved, who has seen leverage increase, and what are the broad implications of leverage reduction? Today’s post answers these questions.

When Winning Isn’t Everything: Midstream Project Returns and Why They Matter More

The focus on returns is prevalent across the energy sector as investors desire capital discipline and growth backed by solid returns instead of just growth at any cost. Today, we will frame what...

Oil Prices: The Bull Case, the Bear Case, and Wildcards That Could Throw Off Everything

Today, we discuss the oil price volatility from the last six months and lay out both the bullish and bearish arguments for prices from here. We also discuss some of the potential wildcards, including...

Midstream Credit Ratings: Making the (Investment) Grade

Who is making the (investment) grade in midstream? Today, we look at credit ratings for the broad North American midstream universe as well as the weightings of companies with investment-grade credit...

19 for ’19: Midstream EBITDA Guidance Reflects Strong Outlook

Can an investor have growth and attractive income in one investment? With midstream, the answer is yes based on 2019 EBITDA guidance for nineteen companies. Midstream’s expected growth and how it...

US LNG Exports: The Who, What, Where of Projects and Why China Relations Matter

Today, we revisit US LNG exports. What projects are starting up in 2019-2020? What projects have been green lighted for construction or are nearing the start of construction? What about the impact of...

MLP 4Q18 Distribution Coverage … Now Featuring Payout Ratios!

Can MLPs afford their distributions? Today, we answer that question by looking at both distribution coverage for the traditional MLP investor and payout ratios for those wanting to evaluate MLPs with...
Back To