GBNXF - Big Score For Midstream
- Midstream broke a 4-week losing streak and rang in the new year with a bang, rallying 7-8% across the midstream indexes.
- After this week, midstream indexes are back near where they peaked in early December. Weakness the last four weeks may have been due to positioning and hesitation to buy MLPs so late in the year and incur K-1s for 2020 so close to the new year.
- 2021 should be a year of higher free cash flow for midstream. Free cash flow has been impeded in recent years by high distribution payout ratios, high capital expenditures and declining cash flow from existing assets.
For further details see:
Big Score For Midstream