With upstream operators ramping up appraisal and development programs in the Ohio portion of the Utica Shale, midstream companies have launched a number of projects to support these efforts. Read More

There’s no denying the appeal of master limited partnerships (MLP) to income-seeking investors, particularly in this low-yield environment. Relative to the yields offered by traditional fixed-income investments, the Alerian MLP Index’s 5.56 percent yield appears downright magnanimous. At the same time, the yield offered by the MLP benchmark has tumbled from its 12-month high of 7.39 percent (hit on Aug. 8, 2011) after gaining almost 15 percent. Although investors who were along for the ride will be pleased by these gains, those looking to add money to the group may be disappointed by prevailing yields. Stay disciplined and adhere to our buy targets. Read More

Today, MLPs are still in the sweet spot: Not only does the nation face a critical shortage of midstream infrastructure to support growing output from prolific shale oil and gas plays, but most MLPs also have easy access to relatively inexpensive debt and capital. Read More

Despite economic uncertainty and the EU’s ongoing sovereign-debt crisis, a reprise of the financial meltdown and credit crunch of 2008 appears unlikely for the time being. Corporations can still borrow money at extraordinarily low rates, a stark contrast to the tightened credit conditions that prevailed in 2007 and 2008. Most… Read More

Since the end of 2007, the Alerian MLP Index has generated a total return of 76.5 percent, about 75 percent of which came from price appreciation. The S&P 500, on the other hand, lost 2 percent over the same period. This outperformance reflects strong fundamentals, but you can’t rule out… Read More

All too often, investors focus on a master limited partnership’s yield rather than its underlying business. This shortsightedness is hardly a new problem. Read More

One of 2011’s biggest winners was Sunoco Logistics Partners LP (NYSE: SXL), which returned almost 50 percent for the year–a strong performance in a somewhat dismal year for stocks. The units also returned 33 percent in 2010 and generated an almost 60 percent gain for investors in 2009. The stock’s popularity… Read More

In this issue, we dig into the quarterly results from the three Portfolio holdings that have reported fourth-quarter earnings thus far and evaluate the latest batch of initial public offerings in the MLP space. Read More

Investor psychology and demographics will also contribute to master limited partnerships' long-term growth prospects. Read More

We look back on the year that was and look forward to what's to come for our favorite energy-related master limited partnerships. Read More

Buying only the highest yielding master MLPs without understanding their underlying businesses and future prospects is a recipe for disaster. Instead, focus on MLPs that will grow their distributions over time. Read More

Here are four basic points that I consider when I rate the safety of an MLP investment. 1. Payout ratio based on distributable cash flow (DCF). DCF is the best measure of an MLP’s profitability, as it effectively takes into account their ability to avoid paying corporate income taxes. In… Read More

Every bull market eventually comes to an end. The catalysts pushing profits, dividends and share prices higher ultimately dissipate. Equity valuations become so high that the expectations built into them become almost impossible to achieve. Finally, the air goes out of the balloon. Growth slows to a crawl or shifts… Read More

Although the Alerian MLP Index has rebounded substantially since the end of the third quarter, the group continues to trade at a favorable valuation. Read More

All eyes are on Europe's sovereign-debt crisis, but the latest batch of MLP initial public offerings also warrants some attention. Read More

Low capital costs plus abundant opportunities to bring shale gas and liquids to market: That formula continues to drive cash flows and distributions higher for Linn Energy LLC (NSDQ: LINE) and other well-managed oil and gas MLP’s. The company recently announced a “continuous equity offering,” under which it will sell $500… Read More

Sunoco Logistics Partners LP’s (NYSE: SXL) second-quarter results featured several pieces of very good news. Distributable cash flow (DCF) of $106… Read More

Weakness in the broader market provides an ideal opportunity to lock in high yields on our favorite energy-focused MLPs. Read More

Forget oil. Natural gas liquids (NGL) could represent a more important growth driver for your portfolio. Companies involved in natural gas processing and NGL storage, transport and export reported some of the strongest fourth-quarter results in our coverage universe. This outperformance reflects a long-term, secular shift in the global market for NGLs that favors North America. Read More