Week Thoughts: Midstream Marches Upward
Growth At A Reasonable Price, Dividend Investing
Seeking Alpha Analyst Since 2009
I serve as Portfolio Manager on the Listed Infrastructure Team at CBRE Clarion Securities, a global asset management firm based in Radnor, PA. My primary focus is on investing in Midstream companies, including Master Limited Partnerships (MLPs), as well as transportation companies (rails, airports) for larger infrastructure investment team.
Summary
- Midstream rallied again, this time just keeping pace with the S&P 500.
- Year-over-year comps are very easy from here after we passed anniversary of OPEC/COVID.
- This week featured the first equity offering since June 2020.
Midstream rallied again this week, just enough to keep pace with the S&P 500’s gains, and good enough to outperform broader energy stocks. The passing of the stimulus bill seemed to be the big catalyst for the market. After 9 straight weeks of gains, oil prices did not go up this week. Interest rates were higher again, but utilities caught a bid despite further interest rate creep.
The full subscriber version was sent yesterday and includes:
- Reminder that we enter easy year over year comps after the awful March of last year.
- Discussion of bull and bear case that is suddenly the prevailing topic in midstream.
- Winners & Losers
- News detail, including the first equity deal in 9 months
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