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AMLP

ALPS Alerian MLP ETF

5/26/2013, 3:45 AM ET

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Friday, May 24, 12:45 PM Multi-asset income ETFs are here to stay, writes Paul Britt, as Guggenheim's CVY crosses $1B in AUM. It's been around since 2006, but a new entrant, MDIV has pulled in $440M in less than a year. These income funds have no mandate in their search for yield and roam across dividends (DVY), high-yield (HYG), REITs (IYR, VNQ), and MLPs (AMJ) as necessary. One drawback is their somewhat high expense ratios - in the 60-80 bp range, compared, for example, to DVY at 40 bps. Other M-A ETFs: INKM, IYLD, GYLD, HGI. 2 Comments
Tuesday, May 21, 6:32 PM If you harbor doubts about the sharp rise of energy MLPs, you don’t have many short sellers on your side. Fewer than 1% of the shares of MLP constituents of the Alerian index (AMJ) are out on loan. Low short interest may have less to do with a lack of negative opinion than with the nature of who owns MLPs, but it’s a notable feature since it should mean a classic short squeeze isn’t possible. 7 Comments [Energy]
Tuesday, April 30, 11:42 AM Growing distributions while growing the business is the key for MLPs for the rest of 2013, and Merrill's MLP research team highlights energy partnerships it believes can expand their current business models while raising their distributions to shareholders. Likely to enjoy the highest payout increases: ACMP, BPL, EEP, EPD, GEL, NRGM, MWE, PAA. Comment! [Energy, Quick Ideas]
Friday, April 19, 5:37 PM Fitch Ratings addresses the possibility of MLPs losing their tax advantages as the U.S. government hunts for revenue. The good news: Fitch isn't too worried about the near- or intermediate-term. The bad news: Any fears of the status quo being challenged likely would bring havoc to the sector - a long-term threat as the sector grows larger. When this happened in Canada, it was devastating to investors there. 1 Comment [Energy]
Wednesday, March 13, 5:48 PM More on ATMP launch: ATMP charges 0.95% as fees which is higher than its peers IMLP (0.80%), YMLP (0.82%), MLPY and MLPI (0.85%), MLPS (0.86%) and EMLP (0.95%). Comment! [Energy, Dividends]
Sunday, February 24, 9:31 AM MLPs are a multidecade story, not multiyear, says Chris Eades (CEM, EMO, CTR). His partner in a mini-Barron's roundtable, Kyri Loupis takes note of non-economic factors which keep MLP yields higher than REIT yields. "Maniacally focused" on yield, MLP investors should instead consider yield growth as a key metric, says Eades. His top pick is Targa Resources Partners (NGLS), still considered as having huge exposure to commodity prices even as fee income is set to rise to 65% of revenues. 8 Comments [Quick Ideas]
Tuesday, February 12, 7:23 PM Yorkville ETF Advisors expanded its MLP ETF lineup by launching its High Income Infrastructure MLP fund YMLI today. The ETF debuts following the success of YMLP last year. The two ETFs will have no overlap in holdings and will provide composite exposure to the MLP universe. Competitors: AMJ, EMLP, MLPI, AMLP, MLPJ (pdf) 1 Comment
Monday, February 4, 5:58 PM Enterprise Products Partners (EPD) is king of MLPs, and as the largest MLP raises cash and dilutes, Jon Ogg warns the other large MLPs and second-tier MLPs likely will follow suit, which could mean profit taking and possible near-term short selling are likely to come back as a temporary theme in the MLP sector. EPD, +11.8% YTD, -2.8% AH. 6 Comments [Energy, On the Move]
Friday, January 11, 3:21 PM With investor interest high, issuers continue to add to the crowded MLP arena. The lastest will be Tuesday's launch of an ETF tracking an index of junior MLP players, the MLPJ. Comment! [Energy]
Wednesday, January 9, 10:28 AM Credit Suisse predicts a catch-up rally for master limited partnerships, propelled by strong fundamentals in the energy space. With a projected 6%-6.25% average yield for MLPs, the firm estimates total returns for the stocks in the mid-teens. Exterran Partners (EXLP) is upgraded to Outperform, but APU, BWP, SEP and SPH are cut to Neutral. Comment! [Energy, Quick Ideas]
Sunday, January 6, 8:56 AM While the preferred stock (PFF) led the income pack in 2012 with a total return of 18.2%, the current risk-reward profile isn't great, says Barclays' Shobhit Gupta, with the upside capped by the issuer call option, and significant downside if rates rise. One overlooked class for investors: Convertible Bonds (CWB). Barron's overview of the income sector. 26 Comments [Quick Ideas]
Tuesday, December 18, 2012, 11:25 AM Holly Energy Partners (HEP +4.9%) pushes higher after Alerian announces that HEP will be added to the Alerian MLP Index (AMLP) beginning Dec. 21. Inergy (NRGY -3.6%) will be removed from the index at that time. Comment! [Energy, On the Move]
Monday, August 20, 2012, 3:56 PM Yield hungry investors playing in the MLP space may take caution as the sector's merits rate a Barron's cover and investor roundtable discussion. Among the selections is the popular JPMorgan Alerian MLP Index ETN (AMJ), up 17% Y/Y while yielding north of 9%, and trading at a 36% premium to NAV. 6 Comments [Energy]
Tuesday, July 17, 2012, 3:19 PM With investors starved for yield, Oppenheimer joins the rush into MLPs, buying SteelPath Capital Management and SteelPath Fund Advisers, home to popular MPL funds. Also, UBS is set to launch AMU - an MLP ETN to compete with JPMorgan's recently closed to new-issuance AMJ. 2 Comments [Energy]
Thursday, June 21, 2012, 12:17 PM Credit Suisse reduces its growth outlook for natural gas liquids MLPs DCP Midstream Partners (DPM), Targa Resources (TRGP) and Targa Resources Partners (NGLS), expecting sustained weakness in NGL prices and processing margins. The firm believes an NGL oversupply situation could emerge by the end of 2012, resulting in weak prices and margins. Comment! [Energy, Quick Ideas]
Monday, June 18, 2012, 5:00 PM If MLPs continue to remain as popular as they have been, JPMorgan's announcement it will cap new-share issuance of its popular MLP ETN (AMJ) means the product could start to sell for more than its net asset value (remember TVIX). Surely taking notice will be other MLP ETNs as well as MLP ETFs. Comment!