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...
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...
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...
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...
Steady Midstream EBITDA Outlooks Contrast with Performance
With 2Q20 midstream earnings season wrapping up last week, the focus has been primarily on the outlooks for MLPs and midstream companies with investors keyed in on the ongoing recovery in energy...
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...