UMI News and Press, USCF Midstream Energy Income Fund ETF From 09/07/22

Summary With free cash flow generation becoming more meaningful since 2020, many companies have used excess cash flow to reduce debt, while EBITDA growth has also contributed to lower leverage ratios. With improved balance sheets, midstream companies have been able to execute on d...

Summary UMI is a midstream energy infrastructure ETF. It has outperformed several competitor ETFs. UMI appears to have done so by taking a large position in LNG, the natural gas liquids marketer. The outlook for NGLs appears to be brighter than it is for petroleum. And...

Summary Natural gas prices in the United States jumped to more than $9/MMBtu due to increased natural gas demand for U.S. LNG exports and high temperatures in the United States. I expect that in the third quarter of 2022, the effect of high natural gas prices on Energy Transfer's ...

A dozen energy infrastructure companies spent a combined $1.4 billion on equity repurchases in 2Q22. Four names spent $100+ million in the quarter led by Cheniere Energy (LNG). Constituents with buyback programs account for over 75% of the Alerian Midstream Energy Index (AMNA) by weig...

Last quarter, we discussed the ongoing trends of sticky inflation and a hawkish Federal Reserve. These trends accelerated in Q2 as the U.S. Consumer Price Index rose again to 9.1% in June. Equity volatility remains elevated, but strategies such as covered calls can offer compelling op...

Energy Transfer slashed its distribution in 2020. However, it has been growing aggressively this year, and ET says it plans to eventually reinstate its pre-cut distribution of $0.305. We share why we believe that level will be achieved by ET next year. Energy Transfer LP...

Summit Midstream Partners continues to see its debt dwarf its market capitalization as its share price struggles to perform. The company continues to generate substantial DCF; however, it continues to struggle to pay down debt. EBITDA growth can generate stronger DCF growth given ...

In 2020, Energy Transfer cut the distribution by 50%. This sparked anger amongst many investors, but it was a blessing in disguise. It allowed the Partnership to weather the COVID storm, deleverage at a rapid pace as well as pursue credit-accretive growth opportunities such as acquiri...

Midstream dividend trends remained positive for 2Q22, with a few examples of growth and no cuts. Comparing 2Q22 payouts with 2Q21, more than 80% of the Alerian Midstream Energy Index (AMNA) and Alerian MLP Index (AMZ) by weighting have grown their payouts. Combining the strong yea...

Oneok has a respectable portfolio of NGL assets well positioned in some of the highest margin markets in the country. The company's substantial spare capacity represents a low cost potential source of growth. We expect the company to maintain its dividend yield of just over 6%, wi...