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MLP Midstream Stats 3-14-15 - The Year To Date Spreadsheet

MLP Midstream 3-14-15

The consensus DCFs were last updated on 1-21-15. The CAGR projections were updated 1-15-15. Yields are based on the Q1-15 distribution. Under the 'year to date' header, the change in the distribution is the change since Q1-14 - or the change over the last twelve months. The change in the target, EPS and DCF is the percentage change in the consensus 2015 projection that has happened since the beginning of 2015. The Dist/DCF number is the ratio of the Q1-15 distribution to the 2015 DCF projection. The 2015 DCF projection is an adjusted average of eleven DCF projections from the major brokerages covering MLPs. The CAGR is the percentage change in my CAGR projection since the beginning of the year. The target prices and EPS projections were from Yahoo Finance.


Company   Current Distrib/ Q1 Dist Dist/dcf Dist/dcf Year-to-Date Percent Change
    Price Quarter Yield 2015 2016 Price Pr+Dist EPS Target DCF Dist* cagr

American Midstream Partners, LP (NYSE:AMID) 16.45 0.4725 11.49 86.70 67.74 -16.54 -14.14 -17.28 -31.61 0.00 4.42 0.00
Blueknight Energy Partners, L.P. (NASDAQ:BKEP) 7.75 0.1365 7.05 81.49 57.47 16.54 18.59 7.14 4.47 0.00 7.99 0.00
Buckeye Partners, L.P. (NYSE:BPL) 74.87 1.1375 6.08 92.48 84.26 -1.04 0.46 -5.01 -1.08 0.00 4.60 0.00
Boardwalk Pipeline Partners, LP (NYSE:BWP) 16.11 0.1000 2.48 22.47 21.62 -9.34 -8.78 -8.74 -0.51 0.00 0.00 0.00
Crestwood Midstream Partners LP (NYSE:CMLP) 14.50 0.4100 11.31 92.66 88.65 -4.48 -1.78 -85.71 -23.36 0.00 0.00 0.00
DCP Midstream Partners LP (DPM) 37.20 0.7800 8.39 91.76 82.54 -18.12 -16.40 -9.65 -17.27 0.00 6.48 0.00
Enable Midstream Partners (NYSE:ENBL) 16.72 0.3088 7.39 77.69 72.66 -13.77 -12.18 -20.16 -37.84 0.00 25.53 -40.00
Enbridge Energy Partners, L.P. (NYSE:EEP) 36.11 0.5700 6.31 103.17 90.84 -9.50 -8.07 -26.28 -10.42 0.00 4.88 0.00
EnLink Midstream Partners, LP (NYSE:ENLK) 26.72 0.3750 5.61 80.65 76.92 -7.89 -6.60 -29.67 -21.62 0.00 4.17 0.00
Enterprise Products Partners L.P. (NYSE:EPD) 31.31 0.3700 4.73 67.89 64.35 -13.32 -12.29 -13.66 -2.91 0.00 5.71 0.00
Energy Transfer Partners, L.P. (NYSE:ETP) 54.47 0.9950 7.31 82.06 81.72 -16.20 -14.67 -7.32 -2.81 0.00 8.15 0.00
EQT Midstream Partners, LP (NYSE:EQM) 75.04 0.5800 3.09 54.33 47.15 -14.73 -14.07 1.66 0.62 0.00 26.09 0.00
Exterran Partners, L.P. (EXLP) 24.70 0.5575 9.03 85.77 82.29 14.25 16.82 -25.37 -11.71 0.00 4.69 0.00
Genesis Energy LP (NYSE:GEL) 43.14 0.5950 5.52 78.55 71.04 1.70 3.10 -11.11 -3.37 0.00 11.21 0.00
Holly Energy Partners L.P. (NYSE:HEP) 30.57 0.5300 6.93 88.70 81.54 2.21 3.98 0.00 -1.16 0.00 6.00 0.00
Kinder Morgan, Inc (NYSE:KMI) 40.62 0.4500 4.43 88.67 84.51 -3.99 -2.93 -22.22 1.20 0.00 9.76 0.00
Midcoast Energy Partners, L.P. (NYSE:MEP) 13.93 0.3425 9.83 85.09 79.19 1.83 4.33 26.09 -3.86 0.00 9.42 0.00
Martin Midstream Partners LP (NASDAQ:MMLP) 33.04 0.8125 9.84 84.64 74.54 22.92 25.94 -34.46 -11.58 0.00 3.50 0.00
Magellan Midstream Partners LP (NYSE:MMP) 76.26 0.6950 3.65 71.28 64.95 -7.74 -6.90 -8.06 0.70 0.00 18.80 0.00
MPLX or Marathon LP (NYSE:MPLX) 73.22 0.3825 2.09 74.63 65.67 -0.37 0.15 -5.58 10.50 0.00 22.40 0.00
MarkWest Energy Partners, L.P. (NYSE:MWE) 60.05 0.9000 6.00 85.92 74.69 -10.63 -9.29 -53.14 2.00 0.00 4.65 0.00
Targa Resources Partners LP (NYSE:NGLS) 38.24 0.8100 8.47 70.90 64.54 -20.13 -18.44 -56.27 -18.34 0.00 8.36 0.00
NuStar Energy L.P. (NYSE:NS) 60.00 1.0950 7.30 95.84 89.39 3.90 5.79 3.59 1.21 0.00 0.00 0.00
Oneok Partners, L.P. (OKS) 40.08 0.7900 7.88 95.18 85.87 1.14 3.13 -22.73 -17.44 0.00 8.22 0.00
Plains All American Pipeline, L.P. (NYSE:PAA) 46.64 0.6750 5.79 88.24 80.60 -9.12 -7.80 -14.72 -4.92 0.00 9.76 0.00
Phillips 66 Partners L.P. (NYSE:PSXP) 72.44 0.3400 1.88 61.82 56.67 5.09 5.59 -20.75 5.67 0.00 51.11 0.00
Regency Energy Partners LP (NYSE:RGP) 22.24 0.5020 9.03 93.40 86.93 -7.33 -5.24 4.00 -9.91 0.00 5.68 0.00
Spectra Energy Partners, LP (NYSE:SEP) 51.19 0.5887 4.60 82.92 83.21 -10.15 -9.11 5.02 2.57 0.00 7.76 0.00
Sunoco Logistics Partners L.P. (NYSE:SXL) 41.22 0.4000 3.88 65.31 60.84 -1.34 -0.38 1.73 -4.10 0.00 20.77 0.00
TC PipeLines, LP (NYSE:TCP) 59.55 0.8400 5.64 81.55 75.34 -16.39 -15.21 3.77 -0.56 0.00 3.70 0.00
Tesoro Logistics LP (TLLP) 51.42 0.6675 5.19 75.64 72.75 -12.63 -11.49 10.67 -2.70 0.00 18.14 0.00
Transmontaigne Partners L.P. (NYSE:TLP) 31.13 0.6650 8.54 78.24 77.10 -1.21 0.90 -17.27 -6.33 0.00 2.31 0.00
Valero Energy Partners LP (NYSE:VLP) 48.96 0.2660 2.17 62.59 56.00 16.07 16.70 31.01 15.96 0.00 24.88 0.00
Western Gas Partners LP (NYSE:WES) 64.15 0.7000 4.36 78.21 73.11 -12.18 -11.23 -18.83 -1.93 0.00 16.67 0.00
Western Refining Logistics (NYSE:WNRL) 28.00 0.3330 4.76 68.31 65.94 -8.20 -7.10 -0.62 0.69 0.00 38.17 0.00
Williams Partners L.P. (NYSE:WPZ) 46.84 0.8500 7.26 88.77 82.73 -13.58 -12.01 -68.20 6.63 0.00 62.49 0.00

Pipeline Average     6.26 79.54 72.93 -4.84 -3.35 -14.12 -5.42 0.00 12.96  
Shipping
Golar LNG Partners LP (NASDAQ:GMLP) 24.93 0.5630 9.03 83.41 83.41 -19.97 -18.16 -0.74 -0.30 0.00 7.65 -13.33
Navios Maritime Partners L.P. (NYSE:NMM) 10.70 0.4425 16.54 96.72 95.68 5.21 9.56 -14.58 -16.77 0.00 0.00 0.00
Teekay LNG Partners LP. (NYSE:TGP) 35.30 0.7000 7.93 86.69 93.33 -17.91 -16.28 5.12 -3.03 0.00 1.19 0.00
Teekay Offshore Partners LP. (NYSE:TOO) 20.11 0.5384 10.71 90.11 85.46 -24.93 -22.92 0.00 -36.02 0.00 0.07 0.00

Shipping Average     11.05 89.23   -14.40 -11.95 -2.55 -14.03    

MidStream Average   6.91 89.46 82.87 -5.95 -4.32 -13.29 -6.44    

The (price change only) Alerian MLP index [the ^AMZ - which includes other MLP sectors] is -9.46% year to date.
The Alerian MLP index ETN AMJ is -9.60% and with dividends is -8.32%.
The S&P500 index ETF SPY is 1.48% and with dividends is 1.48%.
The Russell 2000 index ETF IWM is 3.10% and with dividend is 3.10%.
With the 10yr Treasury @ 2.07% & the sector average yield [on Q1 distrib's] at 6.91% - the spread is 484 bps.
With the JNK yielding 5.70% - spread to the Lehman U.S. High Yield Index is 121 bps.
With the HYG yielding 5.02% - the spread to the iBOXX High Yield Index is 189 bps.

Disclosure: The author is long EPD, GEL, KMI, MMP, MPLX, MWE, PSXP, TLLP, WES.