2Q Earnings Review: Politics, (E&P) Religion, and More
Earnings season was particularly eventful this quarter for midstream and broader energy. Operational outlooks were in focus as the macro recovery continues, but renewables and the election were other...
Midstream/MLP 2Q20 Dividends/Distributions Hold Steady
After a slew of cuts with 1Q20 payouts, the stability of midstream dividends and distributions for 2Q20 may have been a pleasant surprise to some, particularly in light of stubbornly high yields in...
US Oil Fundamentals Trending in the Right Direction
While hard to believe, it’s been almost four months since WTI oil prices traded in negative territory as demand was troughing and producers scrambled to shut in wells. Much has changed for the better...
Assessing the Threat of the Energy Transition Part 2: Electric Vehicles
Rounding out the discussion on the impact of the pending energy transition, today’s piece examines the implications of electric vehicles (EVs) for oil demand and the drivers for long-term demand...
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...