Thu, Oct. 22, 3:30 PM
- MLPs are under pressure following Kinder Morgan's (KMI -5.7%) disappointing Q3 report in which it cut guidance for 2016 distribution growth (I, II)
- KMI is no longer classified as an MLP but its relevance to the group remains strong, and MLPs have needed to rely on access to the capital markets; 24/7's Jon Ogg explains that KMI's vagueness about its plans to access new capital has dragged down the entire MLP sector today: MMP -3.5%, EPD -3.2%, ETP -3.1%, ETE -2.2%, WMB -1.8%, PAA -1.4%.
- "There is just no getting away from the fact that a major energy company with a market capitalization of $69B just said that its access to public equity now comes at such a cost that it will go elsewhere, [which] should cause at least a few ripples of concern across the industry," Bloomberg's Liam Denning writes.
- Brace for more waiting games from MLPs this quarter, Wunderlich's Jeff Birnbaum says, expecting many companies to delay providing their 2016 forecasts until later in the year when they have better indications from upstream companies about their plans, which could lead to renewed selling after a 20% gain in the Alerian MLP Index since it bottomed Sept. 29.
- ETFs: AMLP, AMJ, KYN, MLPL, TYG, SRV, KYE, CEM, MLPI, NML, FEN, NTG, MLPA, KMF, EMLP, FMO, MLPN, SRF, FEI, JMF, CBA, MLPX, GMZ, EMO, MLPS, TTP, CTR, AMU, CEN, GER, AMZA, SMM, MIE, DSE, ENFR, FPL, ATMP, JMLP
Wed, Oct. 7, 12:14 PM
- Energy MLPs have rebounded recently following September's panic selling, but that does not mean there all headwinds facing MLPs going forward have disappeared.
- Wunderlich's Jeff Birnbaum looks at consensus 2016 capex estimates for more than 80 midstream MLPs and thinks many will need to reduce or eliminate their capital spending plans.
- Yet Birnbaum says many MLPs are attractive; his top picks include Magellan Midstream Partners (MMP +1.2%), Enterprise Products Partners (EPD +1.5%), Western Gas Partners (WES +2.1%) and Genesis Energy (GEL +2.2%).
- ETFs: AMLP, AMJ, KYN, MLPL, TYG, SRV, KYE, CEM, MLPI, NML, FEN, NTG, MLPA, KMF, EMLP, FMO, MLPN, SRF, FEI, JMF, CBA, MLPX, GMZ, EMO, MLPS, TTP, CTR, AMU, CEN, GER, AMZA, SMM, MIE, DSE, ENFR, FPL, ATMP, JMLP, MLPW, IMLP
Fri, Jul. 10, 10:33 AM
- Notable movers in the shipping sector include DryShips (DRYS +3.1%), Danaois (DAC +5.6%), and Paragon Shipping (PRGN +1.6%).
- Some names in the volatile sector has been trading off of developments in Greece even with many of the Greece-based companies deriving nearly all their revenue outside the nation.
- On a broader look, the Baltic Dry Index is +21 to 874. The breakdown shows the Cape index is 1279 with a spot price of 9612 vs. 11,149 a year ago, the Panamax index is 1052 with a spot price of 8380 vs. 5432 a year ago, and the Supramax index is 767 with a spot price of 8021 vs. 7099 a year ago.
- The Baltic Tanker Clean Index is 837 vs. 521 a year ago and the Baltic Dirty Index is 857 vs. 786 a year ago.
- The Guggenheim Shipping ETF (NYSEARCA:SEA) is +1.43% on the day and -4.12% YTD.
- Related stocks: TNK, EURN, TGP, NMM, SSW, SFL, TK, SMM, TOO, GMLP, DHT, NM, MATX, NAT, FREE, DSX, SB, FRO.
The Fund seeks to achieve its investment objective by investing at least 80% of its total assets in securities of Midstream Companies and MLPs. Midstream companies own or operate midstream assets used in transporting, storing, gathering, processing, distri
Other News & PR