Calling the MLP Bottom (After Three Months and a 50% Bounce)
It is admittedly gutless to call the MLP bottom after three months and a 50% bounce. Worse, I’m not even directly calling the bottom; I’m just writing about the downturn in the past tense to see what...
US Energy Demand Provides a Stable Foundation for MLPs
In a demand-pull world, who wins and loses? Also, how today’s energy infrastructure mirrors the outlook during peak oil.
Energy Infrastructure Unravelling and Knitting Together
March may have seen a small bounce for MLPs, but it is yet to be seen if the space will unravel faster than it can knit itself back together.
Where to Invest When the Cycle Turns
MLP investors are now intimately familiar with how MLPs respond when crude prices fall and stayed down. Here we look at how MLPs move both when crude falls but also when it recovers.
General Partners, Part 3: When Crude Gets Bad, Does Being In the High Splits Make It Worse?
In last quarter’s installment, we examined how an MLP in the high splits would pay increasing portions of its cash flow to the general partner (GP). Given this “GP tax,” some investors may choose to...
Monday Mailbag: Why Gathering and Processing MLPs Might Be Sensitive to Commodity Prices
Today we explain how gathering and processing MLPs could be sensitive to commodity prices.