Comparing Forward Estimate Revisions, MLPs/Midstream Stand Apart
With oil prices down over 70% this year through Friday, investors would likely expect significant cuts to analyst projections for 2020 and 2021 EBITDA estimates across energy. However, that has not...
MLP Consolidation and Conversion Update: Structure Questions Likely to Subside for Now
While MLP structure questions are one of many issues taking a backseat to oil (and other) headlines today, there have been some notable transactions and developments in recent months in the ongoing...
Midstream MLPs: Examining AMZI Constituent Debt Profiles and Index Yield Scenario Analyses
In the current market environment, balance sheets and MLP distributions garner much of an investor’s attention. To that end, today’s piece looks at the debt profiles and near-term debt maturities of...
Addressing MLP Investor Questions as Oil Falls: Distributions, Leverage, and Counterparty Risk
With oil and broader markets in turmoil, today’s piece addresses key investor questions surrounding midstream MLPs given the recent move in oil prices, namely the outlook for distributions,...
4Q19 Midstream Distribution Coverage and Payout Ratios: Comfort Amid Macro Headwinds
Today’s piece focuses on distribution coverage for the MLPs of the Alerian MLP Infrastructure Index (AMZI) and payout ratios for both the AMZI and Alerian Midstream Energy Select Index (AMEI). The...
4Q19 MLP Distribution Recap: Positive Outlook Outweighs Cuts
Summary // After a cut-free 3Q19, four AMZ constituents cut their distributions sequentially for 4Q19. The majority of AMZ and AMZI constituents have increased their distributions on a year-over-year...