Have MLPs and Midstream Actually Reduced Leverage?
Reducing leverage has been a theme across midstream for some time, but have midstream MLPs and C-Corporations actually delevered? Today, we examine leverage metrics from 2016 to 2018 for the current...
1Q19 MLP Distribution Recap: Outlook Improving in Spite of Cuts
Most AMZ and AMZI constituents grew their 1Q19 distributions sequentially and on a year-over-year basis. The 20% increase from Plains All American (PAA) helps soften the impact of...
Midstream Credit Ratings: Making the (Investment) Grade
Who is making the (investment) grade in midstream? Today, we look at credit ratings for the broad North American midstream universe as well as the weightings of companies with investment-grade credit...
4Q18 MLP Distribution Recap: 41 MLPs and Just One Cut
The majority of AMZ and AMZI constituents grew their distributions sequentially for 4Q18 with only one distribution cut.
3Q18 MLP Distribution Recap: With 3Q Cuts Behind Us, How Will Current Trends Affect Future Distributions?
While many MLPs in the AMZ and AMZI grew their distributions for 3Q18, there were five distribution cuts, including a modest cut from a variable distribution MLP and a backdoor cut.
2Q18 Recap and the Barbell Profile of MLP Distribution Growth
Most MLPs in the AMZ and AMZI grew their distributions sequentially in 2Q18, with no cuts this quarter. Nine constituents of the AMZ achieved double-digit year-over-year growth, while a similar number...