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Midstream/MLPs: Summer Sell-Off Feels Overdone Sep. 01, 2021 Summary Energy equities retreated from their relative highs in June as the Delta variant spread, the value trade sputtered, and oil prices weakened following the OPEC+ announcement in July. While midstream sold off with oil and energy stocks, the fundamental picture for midstream improved in many respects as reflected by positive estimate revisions coming out of 2Q21 earnings season. The outlook for midstream remains constructive, with a compelling investment case driven by attractive yields, discounted valuations, growing free cash flow, and buyback potential. That said, some challenges persist for energy equities broadly. https://seekingalpha.com/article/4452969-midstream-mlps-summer-selloff-feels-overdone
MLP Monthly Report: July 2021 Jul. 22, 2021 3:20 AM ETEPD, ICE, MLPA...2 Likes Summary Midstream MLPs, as measured by the Solactive MLP Infrastructure Index, increased 4.44% last month. The index has increased by 61.94% since last June. The Enterprise Value to EBITDA ratio (EV-to-EBITDA), which seeks to provide more color on the valuations of MLPs, increased by 1.16% last month. The Baker Hughes Rig Count increased to 479 rigs, increasing by 4 rigs from last month’s count of 475 rigs. US production of crude oil increased to 11.100 mb/d in the last week of June compared to May levels of 10.800 mb/d. https://seekingalpha.com/article/4440529-mlp-monthly-report-july-2021