GER News and Press, Goldman Sachs MLP Energy Renaissance Fund From 01/29/21

As President Biden took office, the reflation trade that had boosted energy broadly gave way to regulatory concerns, as his administration largely delivered on campaign promises that were well telegraphed in the past. Given TC Energy was the sole midstream company with ownership inter...

Broadly for energy, 2020 was the story of demand destruction for oil from the virus, and while midstream saw weakness, it was more defensive than other sectors of energy. Capturing headlines this week as it related to midstream was the halting of the Keystone XL pipeline. Alerian'...

Rising inflation expectations are becoming a key discussion point in 2021. Rates were already on an upward trajectory in Q4, but recent developments fast-tracked those concerns in the new year. For investors, the key question is whether rising inflation expectations actually materiali...

In its monthly production output meeting, the Organization of the Petroleum Exporting Countries and its allies (OPEC+) agreed to keep the output mostly steady in February. TC Energy announced TC Pipelines agreed to its plan to acquire all outstanding common units of TCP that it does n...

Recent commodity price improvement has not been limited to oil, as liquefied natural gas (LNG) and natural gas liquids (NGLs) have also seen significant gains. Aside from commodity price improvements, the reflation trade has also provided a boost to energy and supported interest and m...

Low interest rates for much of the last ten years have made it much tougher for investors seeking income from traditional sources such as bonds. Despite a recent improvement in performance, midstream yields remain well above historical averages and are superior to other income-oriente...

Midstream MLPs, as measured by the Alerian MLP Index (AMZ), ended December up 2.5% on a price basis and after distributions are considered. For the year, the AMZ was down 36.4% on a price basis, resulting in a 28.8% total return loss. MLP yield spreads, as measured by the AMZ yiel...

MLPs are the cheapest way to obtain a high yield and the prospect of capital appreciation. MLP fundamentals have held up remarkably well while their unit prices have suffered, creating an historic investment opportunity. Recovering U.S. oil and gas supply and demand will increase ...

Midstream was mixed this week, with MLPs closing slightly lower after 4 very strong weeks of positive performance. Even with the pause in performance this week, both the AMZ and the AMNA crossed key technical milestones. PAA was the biggest loser this week, dramatically underperfo...

MLP closed end funds should not use leverage. As a result, losses from forced selling in March has impeded their recovery. Investors should avoid MLP closed end funds. For further details see: MLP Closed End Funds: Masters Of Value Destruction