27.10 +0.12 (0.44%)
After hours: 7:46PM EDT
|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||26.64 - 27.25|
|52 Week Range||23.10 - 29.51|
|PE Ratio (TTM)||20.79|
|Earnings Date||Apr 30, 2018|
|Forward Dividend & Yield||1.71 (6.45%)|
|1y Target Est||31.35|
ONEOK (OKE) is scheduled to release its 1Q18 results on May 1 after the market closes. Analysts expect ONEOK’s 1Q18 adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) to rise 18% YoY (year-over-year) to $549 million in 1Q18. The expected 1Q18 EBITDA is flat compared to ONEOK’s 4Q17 EBITDA.
On April 20, Deutsche Bank started coverage on Enterprise Products Partners (EPD) with a “buy” recommendation. Deutsche Bank gave Enterprise Products Partners a target price of $31. On April 17, Barclays cut Enterprise Products Partners’ target price from $30 to $29. All of the analysts surveyed by Reuters rate Enterprise Products Partners as a “buy.”
So far, Enterprise Products Partners (EPD) stock has risen ~1% in 2018. The stock has outperformed the Alerian MLP ETF (AMLP), which has fallen 7% YTD (year-to-date). Kinder Morgan (KMI) has fallen 13% YTD, while Plains All American Pipeline (PAA) has risen 18% YTD. Crude oil prices have risen ~14% YTD. To learn more about how key MLP indicators are trending, read How Key Indicators for Energy MLPs Are Trending. Read Will US Crude Oil Prices Hit $70 per Barrel in the Coming Weeks? to learn more about the latest factors impacting crude oil prices.
The NGL Pipelines & Service segment is Enterprise Products Partners’ (EPD) biggest segment. The segment contributed 57% of Enterprise Products Partners’ total 4Q17 EBITDA (earnings before interest, tax, depreciation, and amortization). The segment’s earnings grew 11% YoY (year-over-year) in 4Q17. The earnings were driven by strong NGL (natural gas liquids) volumes on pipelines serving the Permian and Marcellus shales and strong ethane export volumes.
Enterprise Products Partners (EPD) is scheduled to release its 1Q18 results on April 30 before the market opens. Analysts expect its EBITDA (earnings before interest, tax, depreciation, and amortization) to rise 7% to $1.52 billion in 1Q18 from $1.41 billion in 1Q17. Enterprise Products Partners’ analyst-adjusted EBITDA was $1.54 billion in 4Q17.
In the week ending April 20, MLPs rallied for the second consecutive week. The Alerian MLP Index (^AMZ), which includes 50 energy MLPs, rose 3.5% during the week and ended at 256.8. The index has gained 7.0% in the last two weeks.
Kinder Morgan (KMI) stock surpassed its 50-day moving average on April 18. The stock is currently trading 3% above its 50-day moving average and 8% below its 200-day moving average. Kinder Morgan’s 200-day moving average may act as resistance for the stock in the near term.
Kinder Morgan (KMI) stock rose 7.4% last week. The company reported strong 1Q18 results on April 18 after the markets closed. KMI rose 2.3% on April 19. Kinder Morgan also opened last week strong with a 2.3% rise on Monday, followed by a 2.2% rise on Tuesday.
Plains All American Pipeline, LP is working on solving the Permian Basin's biggest problem -- and growing its 4.8% dividend yield in the process.
On April 17, 2018, Barclays cut its target price for Kinder Morgan (KMI) from $23 to $20. According to Reuters, of the analysts covering Kinder Morgan, 62% recommended “buy,” and 38% recommended “hold.” Analyst’s mean price target for KMI is $20.90, and KMI is trading at $16.17, implying a potential 30% return in a year.
MLPs suffer so much from a “fool me once…” investor mentality that even with yields of 8.2%, they remain out of favor. The Alerian MLP Index is down 4.7% this year, and has fallen nearly 40% from its 2014 peak on a total return basis. What’s more, investors in exchange-traded funds such as the Alerian MLP ETF (AMLP) have seen their distributions fall by 26% over the past four years due to distribution cuts by MLPs.
Kinder Morgan (KMI) announced its 1Q18 results on April 18, 2018. The company reported EPS (earnings per share) of $0.22, beating analysts’ EPS estimates of $0.21 for the quarter. Kinder Morgan’s DCF (distributable cash flow) for 1Q18 stood at $1,247 million, up 3% from the $1,215 million seen in 1Q17. The DCF growth was driven by higher earnings by KMI’s Natural Gas Pipelines and CO2 segments.
This current wave of growth is concentrated in a few massive opportunities, and the company is adjusting its entire approach to capital allocation as a result.
On April 11, 2018, Mizuho cut Magellan Midstream Partners’ (MMP) price target from $72 to $66. On the same day, Ladenburg Thalmann cut MMP’s price target from $87 to $78. Analysts’ mean price target for Magellan Midstream is $74.
Enterprise Products Partners L.P. today announced that it is the recipient of the GPA Midstream Association safety award for 1st place safety performance among companies with at least one million work hours.
Short interest as a percentage of float in Magellan Midstream Partners (MMP) is currently ~1.9% compared to 1.4% in mid-March 2018. According to the data released on April 10, 2018, Magellan Midstream Partners’ total shares shorted stood at ~4.2 million on March 29, 2018, 29.5% higher than its ~3.3 million shares shorted on March 15.
Currently, Kinder Morgan (KMI) stock is trading 5% below its 50-day moving average and 15% below its 200-day moving average. Kinder Morgan’s 50-day moving average fell below its 200-day moving average in April 2017, which is considered a bearish indicator. Since then, Kinder Morgan’s 50-day average has remained below its 200-day average.
According to a Wall Street Journal report, Canadian Prime Minister Justin Trudeau reiterated his support for Kinder Morgan’s (KMI) Trans Mountain expansion project. The report also mentioned that Trudeau asked Finance Minister Bill Morneau to discuss financial support for Kinder Morgan to remove the project’s risks and uncertainties.
Magellan Midstream Partners (MMP) expects its 2018 DCF (distributable cash flow) to be $1.1 billion—2.8% higher than its 2017 DCF. Its DCF rose 7.8% in 2017.
The Alerian MLP Index (^AMZ), which includes 50 energy MLPs, recovered slightly last week from its 2018 lows with week-over-week gains of 3.5%. AMZ was supported by strong gains in crude oil prices and a general recovery in US markets after the trade war tensions eased. MLPs had a strong start last week. However, the gains were slightly offset by declines on Thursday and Friday.
Magellan Midstream Partners (MMP) stock has fallen nearly 11% so far in 2018. It’s underperformed its peers Enterprise Products Partners (EPD) and Plains All American Pipeline (PAA) during this period.
The S&P 500 Index edged higher last week as investors began moving past geopolitical tensions and focusing on earnings season. Earnings season started in earnest on Friday. And a handful of companies kicked off the season with income boosts.
Enterprise Products Partners L.P. today announced that its 416-mile Midland-to-Sealy pipeline is now in full service with an expanded capacity of 540,000 barrels per day and capable of transporting batched grades of crude oil and condensate.