Rapid U.S. production growth is looming.
In the announced merger between Sunoco Logistics and Energy Transfer Partners, the seeming winner in this transaction is Energy Transfer Equity.
Recent rig additions could weaken the recovery's strength.
We are decreasing our fair value estimate, and caution investors to be prepared for further volatility.
In isolation, this will be a valuation tailwind for our coverage, but in most cases it will be modest.
The oil giant has capacity to protect its payout, but if oil remains below $40 a barrel through 2017, it may need to dial it back, writes Morningstar’s Stephen Simko.
The stage is still set for a long-term recovery, but near-term risk is elevated.
There are still operators with solid balance sheets, strong distribution coverage, and low costs of capital.
We applaud management's efforts to focus on the balance sheet, but we are placing Kinder under review until we re-evaluate our fair value estimate.
All signs point to a brutal near term but a meaningful long-term recovery.
High offer price for BG Group drags Shell's fair value estimate lower.
Near-term execution issues have left BG Group shares in the bargain bin, but Shell is still paying a hefty price for the firm, writes Morningstar analyst Stephen Simko.
Oil prices are likely to rebound from here, but robust U.S. supply will ultimately cap upside.
The growth of light crude output could put further pressure on U.S. (and especially North Dakota) oil prices in 2014-15, hindering near-term growth for this firm.
Heavy capital spending is ready to bear fruit in the form of rising cash flow; regular dividend increases should follow.
We think Shell's valuation is the most compelling of the oil majors.
Though the worst of Macondo appears to be behind it, the specter of the disaster is likely to haunt the company by challenging its ability to generate its hoped-for results for some time to come.
First Solar is the one company that we think may have near-term upside.
Sell-off gaining steam, but will provide attractive entry point for investors.
Chasing higher margins in the short term may not pay off in the long term.
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A perfect storm is wreaking havoc on the solar industry.