Digging Deeper into Discounted Valuations for Midstream/MLPs
In a market where valuations for most equities feel stretched, midstream trades at significant discounts to historical averages. The combination of pressured equity performance and resilient EBITDA...
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...
What Could the Election Mean for MLPs/Midstream and Energy?
With election season in full swing, today’s note discusses the policies of the Trump administration and the proposals from the Biden campaign, as well as the potential implications of a change in the...
Assessing Midstream’s ESG Journey So Far
As environmental, social, and governance (ESG) factors continue to gain popularity with the broader investment community, sustainability reporting is becoming more commonplace among midstream...
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...
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...