DCP - Midstream At The Midpoint: Where We've Been And What's Next
For midstream investors, 2020 has undoubtedly been a roller coaster. Despite the downturn in both energy and broader markets in the first quarter, midstream has rallied significantly in the last few months off the all-time lows seen in mid-March. Today's research note provides a broad update on where midstream stands approaching the halfway point of this year in terms of leverage, yields, and distribution coverage. It also discusses the factors that could determine whether the current recovery continues or potentially pauses.
Energy sell-off into March gives way to recovery.
After a tepid start to the