You should probably think of this as an advertisement for the UBTI collection effort. Below are performance stats for the first quarter of 2011. The UBTI group gets this twice per month. They also receive valuation stats. Valuation stats like price/DCF ratios, and price implied CAGR metrics, and consensus CAGR metrics that tend to vary significantly from some [but not all] of the stats one can find at Yahoo Finance. Those who have offered testimonials have told me that such stats have helped result in understanding valuations - and the sector - better. And that has led to AMZ beating total returns. It is the smarter and harder working board members who have written to tell me this. And maybe they would have achieved such results without benefit of my updates. Perhaps their contributions of UBTIs generates good karma [by doing good for others] which results in better total returns. Whatever the cause - it is working. I know it is working for me
MLP Stats by Category 03-31
The change in distribution compared Q1-11 to Q1-10.
| 12-31-10 | 03-31-11 | Q1 Dist | Dist/EPS | Year-to-Date Change |
Company | Price | Price | Yield | Ratio | Price | Pr+Dist | EPS Est | Dist |
Large Capped MLPs |
|
BPL | 66.83 | 63.54 | 6.14 | 110.48 | -4.92 | -3.46 | 4.13 | 4.00 |
BWP | 31.13 | 32.66 | 6.37 | 130.00 | 4.91 | 6.59 | 0.63 | 4.00 |
EEP | 62.38 | 64.62 | 6.36 | 135.64 | 3.59 | 5.24 | -6.48 | 3.79 |
EPD | 41.61 | 43.06 | 5.48 | 126.20 | 3.48 | 4.90 | 0.54 | 5.36 |
ETP | 51.82 | 51.76 | 6.91 | 144.74 | -0.12 | 1.61 | -7.14 | 0.00 |
KMP | 70.26 | 74.09 | 6.10 | 243.01 | 5.45 | 7.06 | 3.33 | 7.62 |
MMP | 56.50 | 59.86 | 5.06 | 97.43 | 5.95 | 7.29 | 4.36 | 6.69 |
NS | 69.48 | 67.89 | 6.33 | 134.80 | -2.29 | -0.74 | -2.74 | 0.94 |
OKS | 79.50 | 82.35 | 5.54 | 112.59 | 3.58 | 5.02 | 3.58 | 3.64 |
PAA | 62.79 | 63.73 | 6.01 | 116.06 | 1.50 | 3.02 | 6.45 | 3.23 |
SXL | 83.59 | 86.78 | 5.44 | 86.92 | 3.82 | 5.23 | -1.99 | 8.26 |
WPZ | 46.65 | 51.80 | 5.42 | 85.41 | 11.04 | 12.55 | 4.44 | 10.63 |
|
| 5.93 |
| 3.00 | 4.52 |
|
|
|
| 12-31-10 | 03-31-11 | Q1 Dist | Dist/EPS | Year-to-Date Change |
Company | Price | Price | Yield | Ratio | Price | Pr+Dist | EPS Est | Dist |
Small Capped MLPs |
|
DEP | 32.09 | 40.50 | 4.49 | 101.11 | 26.21 | 27.63 | 5.26 | 2.25 |
EPB | 33.45 | 36.23 | 4.86 | 75.21 | 8.31 | 9.63 | 8.33 | 22.22 |
GEL | 26.40 | 28.31 | 5.65 | 125.00 | 7.23 | 8.75 | 4.92 | 11.11 |
HEP | 50.91 | 58.00 | 5.83 | 135.20 | 13.93 | 15.59 | 1.21 | 4.97 |
SEP | 32.85 | 32.87 | 5.48 | 102.86 | 0.06 | 1.43 | -4.89 | 9.76 |
TCLP | 52.00 | 52.02 | 5.77 | 100.67 | 0.04 | 1.48 | 7.19 | 2.74 |
TLP | 36.41 | 36.33 | 6.72 | 107.49 | -0.22 | 1.46 | -1.73 | 3.39 |
|
| 5.54 |
| 7.94 | 9.42 |
|
|
|
| 12-31-10 | 03-31-11 | Q1 Dist | Dist/EPS | Year-to-Date Change |
Company | Price | Price | Yield | Ratio | Price | Pr+Dist | EPS Est | Dist |
G&P MLPs |
|
APL | 24.67 | 34.50 | 4.29 | 130.97 | 39.85 | 41.35 | 85.25 | na |
CHKM | 28.77 | 28.83 | 4.68 | 94.41 | 0.21 | 1.38 | 1.42 | na |
CMLP | 27.19 | 30.05 | 5.72 | 121.99 | 10.52 | 12.10 | -2.76 | 10.26 |
CPNO | 33.75 | 35.60 | 6.46 | 1000.00 | 5.48 | 7.19 | -58.18 | 0.00 |
DPM | 37.40 | 40.50 | 6.10 | 196.03 | 8.29 | 9.94 | -8.03 | 2.92 |
EROC | 8.82 | 10.25 | 5.85 | 461.54 | 16.21 | 17.91 | -55.17 | 500.00 |
EXLP | 26.86 | 28.07 | 6.73 | 472.50 | 4.50 | 6.26 | -25.93 | 2.16 |
MWE | 43.31 | 48.47 | 5.36 | 175.68 | 11.91 | 13.41 | 11.28 | 1.56 |
NGLS | 33.96 | 34.68 | 6.31 | 162.22 | 2.12 | 3.73 | -7.53 | 5.80 |
RGNC | 27.26 | 27.31 | 6.52 | 306.90 | 0.18 | 1.82 | -14.71 | 0.00 |
WES | 30.30 | 34.93 | 4.35 | 87.86 | 15.28 | 16.53 | 8.12 | 15.15 |
XTEX | 14.40 | 16.92 | 6.15 | 2080.00 | 17.50 | 19.31 | 0.00 | na |
|
| 5.71 |
| 11.00 | 12.58 |
|
|
|
| 12-31-10 | 03-31-11 | Q1 Dist | Dist/EPS | Year-to-Date Change |
Company | Price | Price | Yield | Ratio | Price | Pr+Dist | EPS Est | Dist |
Marine Transport MLPs |
|
KSP | 4.85 | 8.18 | 0.00 | 0.00 | 68.66 | 68.66 | 0.00 | na |
MMLP | 39.37 | 40.04 | 7.59 | 211.11 | 1.70 | 3.63 | 13.39 | 1.33 |
TGP | 37.99 | 41.00 | 6.15 | 124.14 | 7.92 | 9.58 | -4.69 | 10.53 |
|
| 4.58 |
| 26.09 | 27.29 |
|
|
|
MLP Totals | 5.83 |
| 9.15 | 10.70 |
The (price change only) Alerian MLP index [the ^AMZ - which includes other MLP sectors] is up 4.48% year to date. |
The S&P500 index [as measured using price appreciation only of the SPY] is 5.44% year to date. |
The Russell 2000 index [as measured using price appreciation only of the IWM] is 7.58% year to date. |
With the 10yr Treasury @ 3.468% & the sector average yield [on Q1 Distrib's] at 5.65% - the spread is 219 bps. |
With the JNK yielding 7.76% - spread to the Lehman U.S. High Yield Index is -211 bps. |
With the HYG yielding 7.59% - the spread to the iBOXX High Yield Index is -194 bps. |
MLP ETNs & ETF
|
|
| 12-31-10 | Current | Div | Yield | Percent Change |
ETF | Name | Price | Price |
|
| Price | Pr + Div |
|
AMJ | Alerian JPM | 36.35 | 37.97 | 0.452 | 4.76% | 4.46 | 5.70 |
AMLP | Alerian ETF | 16.07 | 16.36 | 0.248 | 6.06% | 1.80 | 3.35 |
MLPG | MLP for Gas | 28.83 | 30.51 | 0.357 | 4.68% | 5.83 | 7.07 |
MLPI | Alerian Infra | 30.10 | 31.34 | 0.385 | 4.91% | 4.12 | 5.40 |
MLPN | Cushing 30 | 23.95 | 25.26 | 0.299 | 4.73% | 5.47 | 6.72 |
MLPW | Wells MLP Index | 25.57 | 26.83 | 0.129 | 1.92% | 4.93 | 5.43 |
|
Average |
|
|
|
| 4.51% | 4.43 | 5.61 |
|
MLPL | 2x Long | 34.40 | 37.00 | 0.837 | 9.05% | 7.56 | 9.99 |
MLP E&P Stocks
| 12-31-10 | 03-25 | Distrib/ | Q1 Dist | Q1 Dist | Q1 Dist | EPS Estimates | P/E Ratios | YTD Return |
Co. | Price | Price | Quarter | Yield | /EPS | /DCF | 2011 | 2012 | 2011 | 2012 | Price | Pr+Dist |
|
BBEP | 20.14 | 21.73 | 0.4125 | 7.59 | 196.43 | 73.33 | 0.84 | 1.13 | 25.87 | 19.23 | 7.89 | 9.94 |
CEP | 2.78 | 2.25 | 0.0000 | 0.00 | 0.00 | 0.00 | 0.05 | 0.05 | 45.00 | 45.00 | -19.06 | -19.06 |
ENP | 22.47 | 23.48 | 0.5000 | 8.52 | 149.25 | 91.32 | 1.34 | 1.33 | 17.52 | 17.65 | 4.49 | 6.72 |
EVEP | 39.25 | 53.84 | 0.7590 | 5.64 | 127.03 | 69.00 | 2.39 | 2.80 | 22.53 | 19.23 | 37.17 | 39.11 |
LINE | 37.49 | 38.93 | 0.6600 | 6.78 | 120.55 | 78.81 | 2.19 | 2.28 | 17.78 | 17.07 | 3.84 | 5.60 |
LGCY | 28.72 | 31.34 | 0.5250 | 6.70 | 113.51 | 68.85 | 1.85 | 2.00 | 16.94 | 15.67 | 9.12 | 10.95 |
PSE | 30.03 | 34.40 | 0.5000 | 5.81 | 67.11 | 76.92 | 2.98 | 2.54 | 11.54 | 13.54 | 14.55 | 16.22 |
VNR | 29.65 | 31.79 | 0.5600 | 7.05 | 85.50 | 72.26 | 2.62 | 2.46 | 12.13 | 12.92 | 7.22 | 9.11 |
|
Average |
|
| 6.01 |
|
|
|
| 18.81 | 20.04 | 8.15 | 9.82 |
MLP Coal Stocks
| 12-31-10 | 03-25 | Distrib/ | Q1 Dist | Q4 Dist | Q4 Dist | EPS Estimates | P/E Ratios | YTD Return |
Co. | Price | Price | Quarter | Yield | /EPS | /DCF | 2010 | 2011 | 2010 | 2011 | Price | Pr+Dist |
|
ARLP | 65.76 | 81.43 | 0.8600 | 4.22 | 48.66 | 45.26 | 6.68 | 7.07 | 12.19 | 11.52 | 23.83 | 25.14 |
NRP | 33.20 | 35.07 | 0.5400 | 6.16 | 122.03 | 95.15 | 1.54 | 1.77 | 22.77 | 19.81 | 5.63 | 7.26 |
OXF | 24.36 | 27.50 | 0.4375 | 6.36 | 112.90 | 66.29 | 0.05 | 1.55 | 550.00 | 17.74 | 12.89 | 14.69 |
PVR | 28.32 | 27.70 | 0.4700 | 6.79 | 106.82 | 60.45 | 0.83 | 1.76 | 33.37 | 15.74 | -2.19 | -0.53 |
|
Average |
|
| 5.88 |
|
|
|
| 154.58 | 16.20 | 10.04 | 11.64 |