Navios Maritime Midstream Partners LP completed its initial public offering (IPO) on Nov. 13 at a price of $15 per share and gave up about 8 percent of its value on its inaugural day of trading.
Don’t let the fledgling publicly traded partnership’s name fool you.
The stakes are high for the masters of midstream, particularly in the Northeast where surging output of natural gas has overwhelmed local demand and existing takeaway capacity, depressing the prices at Pennsylvania’s Leidy Hub relative to the Henry Hub in Louisiana.
Rather than regarding Kinder Morgan Inc.’s consolidation of its associated limited partnerships as a referendum on the MLP structure or the end of an era, investors should regard this move as a fresh start for the midstream giant--an opportunity to reshape itself to meet the demands of the marketplace and competitive environment.
NextEra Energy Partners LP (NYSE: NEP) has been a slam dunk since its initial public offering (IPO) on June 26. But at these levels, income-seeking investors can find better plays in this renewable-energy space.
On June 16, 2014, Williams Companies announced an agreement to acquire Global Infrastructure Partners’ 50 percent general-partner interest and 27 percent equity interest in Access Midstream Partners LP for $5.995 billion.We examine four key takeaways from this deal for MLP investors.
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