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...
Midstream/MLP Capex and Projects: Where’s the Growth?
A key characteristic of the energy infrastructure space in recent years has been significant capital investment to facilitate increasing US oil and gas production and exports. However, a shift in...
Free Cash Flow: A Tailwind for Midstream/MLPs in 2021?
The midstream space has seen plenty of headwinds in 2020, from the demand impacts of COVID-19 to hurricanes to political risk. Looking to 2021, one important tailwind could be increased free cash flow...
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...
High MLP/Midstream Yields But Ample Coverage, Payout Ratios
Despite the lingering uncertainty in energy markets and elevated yields, 2Q20 midstream dividend payouts were stable. Continued execution and steady payouts will be needed to restore confidence in...
2020 Midstream Summer Update Video
Thus far in 2020, the equity price performance and elevated yields for midstream and MLPs paint a different picture than what may be drawn from fundamentals. Yields remain high, yet 2Q payouts were...