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SteelPath December MLP updates and news
Midstream equities outperformed the broader markets in November as third-quarter earnings season demonstrated better-than-expected sector results and as demand sentiment was bolstered by encouraging...
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Depressed midstream valuations more than reflect the rise of renewables
Lost in election season and pandemic news flow has been the relative stabilization in energy macro and midstream fundamentals since March. At the same time, midstream operators have aggressively cut...
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SteelPath November MLP updates and news
Midstream equities outperformed the broader markets in October as third-quarter earnings season kicked off with better-than-expected results. Increasing midstream free cash flows are expected to...
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SteelPath October MLP updates and news
September brought energy market volatility that carried over to midstream equity prices. During the month, midstream sector participants continued placing growth projects into place, while also...
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SteelPath September MLP updates and news
August brought relatively stable midstream equity prices despite continued upward momentum in commodity prices. Quarterly earnings season concluded, the first to include the impact of COVID-19 and the...
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Unpopular but essential – petroleum products improve lives in unappreciated ways
We encounter petroleum1 products on an almost constant basis – like something as inconspicuous as an iPhone case or as essential as indoor plumbing. Though petroleum is synonymous with automobiles,...
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REITs: Clearing up some misconceptions
Prior to the onset of the coronavirus pandemic, real estate investment trusts (REITs) had been among the better performing asset classes over the longer term.1 In the wake of the pandemic, however,...
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SteelPath August MLP updates and news
July brought modest midstream equity price weakness despite positive commodity price movements. Quarterly earnings season kicked-off, the first to include meaningful impact from the ongoing battle...
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SteelPath July MLP updates and news
June MLP performance seemed to reflect a reversal of sentiment as COVID-19 cases returned in certain regions. That likely influenced the near-term trajectory of what appeared to be improving energy...
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SteelPath June MLP updates and news
May performance reflected improving sentiment as COVID-19 containment efforts ease in many locations. Furthermore, midstream investor anxieties may have been calmed by efforts to improve free cash...
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US REIT Preferred: A potential bright spot in challenging times
Real estate investment trusts (REITS) have recovered from the coronavirus with the broader market, but real estate investors now face the prospect of persistently low rates, high volatility and slow...
View ArticleIndustrial REITs: A potential bright spot in challenging times
The coronavirus and OPEC price war has punished risk asset prices, and real estate investment trusts (REITs) have been no exception. When the markets stabilize, we believe new and persistent economic...
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SteelPath May MLP update and news
April MLP performance appeared to reflect improving sentiment as COVID-19 containment efforts are set to ease in many locations. Furthermore, midstream investor anxieties may have been calmed by...
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Residential REITs: A potential bright spot in challenging times
The coronavirus outbreak and OPEC price war has punished risk asset prices, and real estate investment trusts (REITs) are no exception. Looking ahead, when markets stabilize, we believe new and...
View ArticleSteelPath April MLP update and news
March MLP performance reflected the unprecedented combination of significant and abrupt crude oil demand destruction, due to rapid efforts to contain COVID-19 globally, and the threat of surging crude...
View ArticleSteelPath March MLP update and news
In February, although the entire market was rocked by coronavirus worries, the master limited partnership (MLP) and energy infrastructure sector underperformed the S&P 500 Index. However,...
View ArticleEnergy infrastructure outlook amid the coronavirus outbreak
Concern among market participants over the ongoing outbreak of the COVID-19 virus appears to have spread from simply a short-term reduction in demand for petroleum products within certain Chinese...
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SteelPath February MLP update and news
In January, the master limited partnership (MLP) sector saw two more companies eliminate incentive distribution rights (IDRs) and the beginning of Q4 earnings season. In our Chart of the Month, we...
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Investing in the prospect of drug pricing reforms
The Trump Administration is considering reforms in the payment for prescription drugs covered under Medicare Part B. The changes include ones that could be accomplished without the need to pass...
View ArticleSteelPath January MLP update and news
The master limited partnership (MLP) sector saw a series of acquisitions take place in December, from Blackstone reaching an agreement with Tallgrass Energy to Energy Transfer closing on the SemGroup...
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