boomed in terms of gas supply. All that gas has to go somewhere; firms have to gather process fractionate. MarkWest Energy ( MWE ) benefits from that. What we are avoiding are exactly the opposite of what we are owning. We're avoiding companies with
or provide a beachhead into new segments along the midstream value chain. Though our crystal ball is hazy, we think MarkWest MWE and Targa NGLS are among the most likely acquisition targets among larger MLPs. Smaller MLPs, such as Genesis Energy GEL
We are dropping analyst coverage of 10 midstream energy/master limited partnerships, including MarkWest Energy Partners , as we shift resources to other coverage priorities. We continue to see economic moats and some attractive valuations in
of money losing and expensive Z & TRLA doesn’t make them any better; pg 23]; MLP Roundtable [ AHGP, ETE, EPD, EQM, MWE , RGP, TEP ; several others are mentioned in the text; one of the participants manages the CEF NML ; pg 26]; Yieldco spinoffs
Cover story “Beware Zillow”. The real-estate website may fall by 50%. Pg 26: MLP Roundtable recommendations include AHGP, ETE, EPD, EQM, MWE , RGP, TEP . All links mentioned are open today. More later.....
projections are for 2.8-3.2% growth for 2014 and 3.0-3.4% for 2015. Pg 25: MLP panel picks: ATLS, LNG, ETE, MMP, MWE , NGL, OKE, PAA, RGP, TRGP, WGP . Pg 33: Andrew Peck of mid-cap BARAX looks for high-quality growth companies with
yielding about 2.8% but expected to increase the distribution by 30% this year. Sounds like a Chamois holding? Sounds like MWE on steroids. Not a true income play but this is where we usually discuss MLPs. Anyone following this one? View?
happy. Who else is near the top? I suggest SEP, KMP, ETP. And probably APU in its own quirky way. I like and own WPZ and MWE but but consider them a bit riskier. Probably same with EEP and OKS. Pretty tight distribution coverage for all these I think
Anyone following this? Looks like revenues and volumes are up but profitability is down. Though 'Cashflow' apparently is up. Distribution coverage for Q3 is sub 1.0, depending how you calculate cashflow. So they could be doing pretty well once you digest their earnings. I like their Marcellus ...
Given the number of potential competing projects seeking to alleviate the same issues (from Kinder Morgan, Markwest Energy Partners , and Enterprise, to name a few), Bluegrass’ relatively early open season should bode well for the partnership