- 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 announced a repurchase program, which the company first discussed in December.
- Of the combined $322 million spent on repurchases in 4Q20 by the companies below, $224 million or approximately 70% was spent by those companies that announced buyback authorizations in October and November 2020.
For further details see:
Insights At A Glance: Midstream/MLP Buyback Update