Garbage - Low oil prices have limited impact on MMLP. Low NG prices have some negative impact but low oil prices none other than MMLP unit price following the heard of the oil dependent MLPs.
No reason to expect coverage below 1.00 this year. Next year should be better. At $21 a unit MMLP is yielding over 15% per annum tax deferred at worst and tax free at best.
I think coverage will come in at under 5 for this year and next.
The only valid point they have is at the current unit price MMLP will not raise capital for acqusitions and expansion. However, at 15% yield MMLP is definitely a strong buy.