Michael Laitkep is an Energy Research Analyst at Alerian, which equips investors to make informed decisions about energy infrastructure and Master Limited Partnerships (MLPs). Mr. Laitkep seeks to promote understanding of the Alerian Index Series and support broader understanding of the role that midstream assets play in North American energy markets. Mr. Laitkep previously worked as an Investment Operations Associate at Capital Group in Los Angeles. Mr. Laitkep earned his B.A. in Plan II Honors and his B.B.A. in Finance from the McCombs School of Business at The University of Texas at Austin.
Midstream/MLP Credit Ratings Largely Stable in Tough Tape
Debt is an important component of midstream capital structures, and monitoring debt markets is instructive for understanding the health of midstream companies. While there have been some downgrades...
Examining the Active vs. Passive Debate for Midstream
Midstream investing has come a long way since the first MLP closed-end fund was introduced in 2004, and there are now a variety of ways to access the midstream space. One age-old question in investing...
US LNG Exports: Outlook Improves as Macro Headwinds Ease
Summary Global LNG prices have been boosted recently by recovering demand with coronavirus lockdowns slowly easing, US LNG cargo cancellations helping to tighten the supply-demand balance, and warm...
Steady Midstream EBITDA Outlooks Contrast with Performance
With 2Q20 midstream earnings season wrapping up last week, the focus has been primarily on the outlooks for MLPs and midstream companies with investors keyed in on the ongoing recovery in energy...
Framing Current Midstream/MLP Yields with Stress Tests
After several cuts in 1Q20 payouts, midstream dividends today seem much more durable, but yields remain elevated given ongoing weakness in equity performance. Today’s piece frames current midstream...
Revisiting MLP vs. C-Corp Taxation as Election Day Looms
Despite an ongoing debate about the structure of MLPs versus C-Corps, MLPs remain the most tax-efficient way to own midstream energy infrastructure assets. Even after the passage of tax reform in late...