Midstream/MLP Earnings So Far: M&A, Dividends, Buyback And ESG
Midstream companies have largely been positive on upstream consolidations, as the combined entities result in stronger customers, but management commentary on midstream consolidation has varied.As of the end of October, 34 of the 39 dividend-paying names in the Alerian Midstream Energy Index have declared their 3Q payouts, with 29 maintaining, 3 growing, and 2 cutting sequentially.Discussion of the energy transition and opportunities in renewables have shifted from the Q&A portion of 2Q20 calls to the prepared remarks for 3Q20.
Seekingalpha · 11/04 13:00
Midstream/MLPs Revamped: Income And Total Return
In contrast to the prior midstream business model that emphasized a grow-at-all-costs mentality reflected in both dividends and capital spending, midstream has been shifting to a more sustainable growth model that is not dependent on raising equity for funding.The upshot of pressured equity performance blended with resilient EBITDA estimates is significantly discounted EV/EBITDA valuations for midstream companies relative to history, creating the opportunity for capital appreciation as multiples expand.Rather than enjoying yield alone, midstream investors can benefit from total return as a result of the more balanced approach taken by midstream companies, the potential for capital appreciation, and possible shareholder-friendly returns as free cash flow generation takes hold.
Seekingalpha · 10/06 12:00
Six pipeline funds offer cheap way to play energy rebound - Barron's
The closed-end funds that focus on oil and gas pipeline companies generally trade at discounts to their net asset values of 20% or more - the widest in the U.S.
Seekingalpha · 10/04 03:55
As Energy Pursues Free Cash Flow, Midstream/MLPs Stand Out
While energy companies across the sector are pounding the table on free cash flow, midstream has a distinct advantage over its counterparts when it comes to the predictability of free cash flow and the generous income on offer.In contrast with other energy sectors, midstream’s more predictable cash flows allow for a greater degree of confidence in free cash flow generation regardless of the commodity price environment.Midstream’s fee-based cash flows tend to support more predictable income for investors, whereas oil and gas producers are increasingly discussing variable or special dividends.
Seekingalpha · 10/02 12:00
Oil price rebound lifts energy MLP ETFs to two-month highs
Seeking Alpha - Article · 08/04 19:46
MLP Monthly Report: July 2020
Seeking Alpha - Article · 07/24 14:55
Pipelines Vs. Power: Comparing Midstream/MLPs To Utilities
Seeking Alpha - Article · 07/24 12:00
Buffett Buys Pipelines: A Ringing Endorsement For Midstream
Seeking Alpha - Article · 07/07 10:00
Celebrate American Energy Independence With MLPX
Seeking Alpha - Article · 07/06 15:11
MLP/Midstream Valuations Part 2: Examining EBITDA Multiples
Seeking Alpha - Article · 06/19 12:00
MLP Monthly Report: June 2020
Seeking Alpha - Article · 06/18 13:49
MLP/Midstream Valuations Part 1: Focusing On Free Cash Flow
Seeking Alpha - Article · 06/17 12:00
Infrastructure: Another Midstream Exit Opportunity
Seeking Alpha - Article · 06/11 15:43
Decisions, Decisions: Demystifying MLP Investment Options
Seeking Alpha - Article · 06/05 12:00
Reexamining MLP/Midstream Oil Correlations
Seeking Alpha - Article · 05/29 12:00
MLP Monthly Report: May 2020
Seeking Alpha - Article · 05/20 10:06
What About MLPs' Refiner Customers?
Seeking Alpha - Article · 05/13 12:00
Comparing Forward Estimate Revisions, MLPs/Midstream Stand Apart
Seeking Alpha - Article · 04/30 12:00
MLP Monthly Report: April 2020
Seeking Alpha - Article · 04/27 11:21
SteelPath November MLP Update And News
Seeking Alpha - Article · 11/21/2019 11:34
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