|Bid||19.76 x 900|
|Ask||19.77 x 3000|
|Day's Range||19.43 - 19.85|
|52 Week Range||8.41 - 24.17|
|Beta (5Y Monthly)||1.75|
|PE Ratio (TTM)||186.23|
|Forward Dividend & Yield||1.60 (8.29%)|
|Ex-Dividend Date||Sep 10, 2020|
|1y Target Est||N/A|
Companies that own pipelines and other energy infrastructure have struggled in recent months, and Goldman Sachs analyst Michael Lapides expects the group to remain under pressure for a while. Oil producers have cut back on production as Covid-19 has hurt demand for things like gasoline, which means they need less pipeline capacity. “The dramatic selloff in the sector still appears overdone in our view, especially for the MLPs, and we remain positive—especially as they price in a high cost of capital and as cash flow should pick up as capital spend declines—but we advise investors to temper near-term expectations,” he wrote.
The share price declines that pushed these energy sector companies' yields higher don't appear justified, and their payouts look secure.
Devin McDermott, head of North American oil and gas research at Morgan Stanley, favors Chevron and an assortment of companies that typically focus on infrastructure.