- While Kinder Morgan's (KMI, KMP) decision to abandon the use of MLPs may have rattled some investors, it is unlikely that other MLPs will copy KMI's move, says Chris Eades, portfolio manager for energy MLP strategies at ClearBridge Investments.
- "MLPs continue to be well positioned from a long-term growth perspective given all the growth we're seeing in the U.S. in energy production," Eades says.
- As Kinder Moran MLPs were structured, incentive payments to the general partners were growing bigger and making equity more costly, but other MLPs haven't yet matured to this stage and some are structured differently; MLPs are "a long, long way off having to contend with the situation that Kinder found itself in," Eades says.
- Greg Reid of Salient Partners agrees the deal is not a harbinger of the end of the structure, noting the Shell plans to spin off some of its portfolio into an MLP.
- ETFs: AMLP, AMJ, MLPL, YMLP, MLPI, MLPA, ENY, MLPN, MLPG, EMLP, MLPS, MLPX, MLPY, MLPJ, AMU, YMLI, ATMP, ZMLP, MLPW, IMLP, ENFR, MLPC
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