MLPs Natural Gassed Again

Source: Hinds Howard, MLP HINDSight (3/10/12)

"MLPs stagnated Thursday, as natural gas supply reports came in higher than expected."

It was an active week again for MLP M&A announcements, less so for capital markets activity, although there was one equity offering, an overnight deal from Plains All American for $400 million, which priced at a 2.77% re-offer discount to the previous close. That discount was the lowest of 2012, and lowest since EPD’s December offering at a 2.74% discount. MLPs were down slightly on the week, although small cap MLPs were largely up on the week, as discussed in my Winners & Losers post from yesterday.

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As shown in the chart below, the MLP Index tracked the S&P 500 very closely until Thursday morning when the S&P 500 jumped and MLPs didn’t. Thursday’s rally was largely attributed by the financial media to a resolution to the Greek issue. Stocks continued up Friday after a strong unemployment report. MLPs stagnated Thursday, as natural gas supply report came in higher than expected (i.e. less of a draw than expected). Weather nationally continues to trend much warmer than normal, helping to hold natural gas prices down (natural gas futures down 6.1% week over week).

I didn’t make it to CERAweek this year, but clearly many reporters made the trip. Nothing earth shattering, and a lot of CEOs talking their books. E&P CEOs believe natural gas is the future, and if we were able to generate more demand for natural gas, those E&P companies would realize higher prices. Utilities are trying to use more natural gas, and petro-chemical companies would prefer that the US did not export natural gas. One interesting article was about how shale gas will struggle to be developed around the world in the same way that it has developed in the U.S. to date.

Hinds Howard, MLP HINDSight

NGL Energy Shares Rise 21% as It Seeks to Raise $2.05 Billion from Senior Secured Note Offering
Source: Streetwise Reports (01/21/2021)

Shares of NGL Energy Partners LP traded higher after the firm made a series of announcements over the past three days regarding an update on financial operations, a settlement with a customer in bankruptcy, a quarterly Class D unit distribution and a $2.05 billion senior secured debt offering.

Western Midstream Posts 99% YoY Increase in Q3 Earnings, Announces $250 Million Buyback Program
Source: Streetwise Reports (11/10/2020)

Shares of Western Midstream Partners traded 23% higher after the company reported Q3/20 financial results that included a nearly 100% growth in Net income. The firm also provided FY/21 guidance and announced a $250 million buyback program.

Altus Midstream Shares Flow Higher on Q3 Earnings and Plans for $1.50/Share Dividend in Q1/21
Source: Streetwise Reports (11/05/2020)

Shares of Altus Midstream Co. traded 170% higher after the firm reported Q3/20 financial results and announced plans to pay a quarterly dividend of $1.50 per share beginning in March 2021.

Announcing Streetwise Live! Events
Source: Streetwise Reports (07/13/2020)

Streetwise Reports is offering 100 investors—at no charge—the opportunity to meet via Zoom with executives of precious metals companies as they discuss recent developments at their companies and upcoming catalysts.

NGL Energy Partners Shares Rise 80% as the Firm Confirms 2020 Guidance
Source: Streetwise Reports (03/19/2020)

Shares of NGL Energy Partners traded higher after the company confirmed its fiscal 2020 EBITDA guidance and provided an update on current operations and capital expenditure reductions.

Tallgrass Energy Shares Rise 20% on Blackstone Partners Acquisition Deal
Source: Streetwise Reports (12/17/2019)

Shares of Tallgrass Energy LP traded 20% higher after the firm advised that it entered into a definitive merger agreement with Blackstone Infrastructure Partners to acquire all of the company's publicly held outstanding class A shares for $22.45 per share in cash.

Analyst: Outlook Positive for 'Water-Driven Turnaround Story'
Source: Streetwise Reports (01/04/2019)

This master limited partnership's presentation to analysts provided Raymond James with multiple reasons for long-term investment.

Simplification: A Positive Change for MLP Industry, Investors
Source: Adam Karpf for The Energy Report (05/30/2017)

The master limited partnership (MLP) industry, focused on energy infrastructure, is in the process of a major transformation known as "simplification," where limited partners have merged with or acquired the interests of the general partner. Adam Karpf, portfolio manager for MLP strategies at CIBC Atlantic Trust Private Wealth Management, discusses the trend toward simplification and the benefits for management teams and investors.

A Year of Tips for Winning the Natural Resource Investment War
Source: The Energy Report Staff (12/29/2015)

Energy investors are no strangers to boom-and-bust cycles. In fact, a number of the experts interviewed by The Energy Report in 2015 took a certain amount of glee in the opportunities they knew would open up in low-price markets for oil and gas, uranium and lithium.

Three Upstream MLPs with the Discipline to Succeed in the Coming Recovery: RBC Analyst John Ragozzino
Source: JT Long of The Energy Report (04/29/2015)

RBC's John Ragozzino is anticipating an oil price recovery that could bode well for upstream master limited partnerships, and knows which had the strength to hedge at the right times and which are liquid enough to take advantage of growth opportunities that could be right around the corner.