TPYP News and Press, Tortoise North American Pipeline From 04/05/23

2023-04-05 08:00:00 ET Summary One of the primary attractions of MLP investments is the potential for tax-deferred income. Whether you invest in an MLP directly or invest in an ETF that predominately owns MLPs, a good portion of the distribution you receive is likely to be a tax-d...

2023-04-01 08:00:00 ET Summary MLPs demonstrated their resiliency during March, a month characterized by increased volatility in markets. As the month comes to a close, oil is off around 3% while natural gas prices have fallen roughly 23%. The generous income offered by midstr...

2023-03-22 08:00:00 ET Summary Concerns for the global economy and risk-off sentiment related to bank troubles sent oil prices and energy stocks lower last week. In a tough start to the year for energy, MLPs and midstream stand out for their resilience, supported by attractive div...

2023-03-08 08:00:00 ET Summary Ten energy infrastructure companies collectively spent over $1.4 billion on buybacks in 4Q22, bringing the total buyback spend for the year to approximately $4.5 billion. Over 76% of constituents in the Alerian Midstream Energy Index by weighting cur...

Summary Generally, midstream companies are forecasting modest EBITDA growth in 2023 consistent with the stability of fee-based businesses. Some companies have provided positive long-term outlooks for EBITDA growth, which add important context to the strong dividend trends in midstream. ...

Summary Midstream/MLPs are using their free cash flow to increase their dividends and repurchase equity. On a year-over-year basis, there are more constituents in the broad Alerian Midstream Energy Index that have raised their payouts compared to last year than maintained. Importantly, ...

Summary The oil macro in 2023 will likely be heavily influenced by headlines related to Russian supply and Chinese demand as the country reopens. US production growth is expected to be modest, as companies practice capital discipline and grapple with service cost inflation. Traditio...

Summary Midstream/MLPs tend to outperform the broader market in years of high inflation, and though it has cooled from its mid-2022 peak, inflation is likely to remain elevated in 2023. Energy infrastructure companies largely provide services for fees under long-term contracts, which ty...

Summary After a record-setting 2022, energy sector earnings are likely to generally decline in 2023, though forecasts point to another strong year by historical standards. Even with a year-over-year earnings decline, energy companies can continue to execute on free cash flow generation ...

Summary Looking at total returns for 2022 compared to the -18.1% loss for the S&P 500, income-focused equity investments generally held up well, except for REITs. MLPs provided standout performance in 2022, gaining over 30% on a total-return basis. Now that bond benchmarks are y...