Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.
Summary
- Midstream stocks and MLPs held up well, but underperformed energy stocks this week.
- Texas grid outages led to 1/3rd production and 30+ processing plants going offline temporarily.
- Enable Midstream (ENBL) announced sale to Energy Transfer (ET).
Midstream held up well this week in the face of a very public energy infrastructure failure in Texas that saw 1/3rd of U.S. production and 30+ processing plants shut down at the nadir of the crisis.
There was also chatter around rising interest rates and inflation that hurt other yield-oriented equities like utilities this week. Despite all that, midstream sector indexes were basically flat this week. Midstream stocks were helped by positive sentiment towards energy stocks generally as oil prices broke through $60/bbl.
The full subscriber version of this week’s post was sent earlier today and includes:
Earnings recap
Enable merger implications and who’s next
Sector leverage discussion
News detail, including summary of TCP investor complaint letter
Subscribe at mlpguy.substack.com to get full access.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
