DSE News and Press, Duff & Phelps Select MLP and Midstream Energy Fund Inc. From 03/24/21

One of the potential tailwinds for midstream in 2021 relative to past recoveries is the proliferation of buyback programs supported by expectations for robust free cash flow generation this year. Since Alerian's last buyback note in November, Pembina Pipeline (PPL CN) formally announc...

Crude oil prices reached a nearly 14-month high as the Organization of the Petroleum Exporting Countries and its allies (OPEC+) agreed not to increase oil output in April. Midstream MLPs, as measured by the Solactive MLP Infrastructure Index, increased 8.02% last month. The curren...

Many macro and political overhangs lifted by the end of Q4, with optimism about the re-opening economy driving Energy sector gains. Value sectors like Energy shined as the economy rebounded, and small cap and cyclical sectors became market leaders. With rising inflation, midstream...

Oil prices have likely recovered more quickly than anticipated thanks to the disciplined cooperation of OPEC+. While midstream is unique from other energy sectors given its more defensive, fee-based business model, midstream MLPs and C-Corps have participated in energy’s rally....

Pipelines are undergoing a renaissance of cash generation today. The pandemic and low commodity prices increased uncertainty in the industry, and pipeline companies stopped investing in new projects and have thus been generating enormous cash flows. This trend did not start in 2020, b...

The reflation trade remains in focus given positive expectations for economic growth and ongoing inflation concerns with bond yields rising. For income-seeking investors, MLPs and midstream offer attractive income and stand to benefit from a continuation of the reflation trade given t...

With only a single cut and a few additional names growing their dividends, the overall picture for dividends has continued to improve. For AMNA, a broad midstream composite index containing both MLPs and C-Corps, 37 of 38 dividend-paying names raised or maintained their dividends sequ...

After failing to liquidate itself, DSE's managers are proposing to merge the CEF into an open-ended fund. The discount jumped up immediately upon the announcement, but at a -6% discount, the risk/reward is now unfavorable given the risk that the proposal fails to pass. I suggest r...

Twenty-two out of 23 CEF sectors positive on price and 21 out of 23 sectors positive on NAV last week. MLPs lead while commodities lag. Limited duration is the highest-yielding CEF sector. For further details see: Weekly Closed-End Fund Roundup: February 7, 2021

Many probably underappreciate the role that traditional oil and gas companies have in addressing climate problems and providing solutions. For the foreseeable future, natural gas and natural gas liquids are going to have an important role to play in reducing global emissions as a repl...