Dernières nouvelles pour Alerian MLP ETF (ARCA:AMLP)

Alerian MLP ETF

Energy

Utilities

The fund will normally invest at least 90% of its total assets in securities that comprise the underlying index. The underlying index is comprised of energy infrastructure MLPs that earn a majority of their cash flow from the transportation, storage and processing of energy commodities. It is non-diversified.

Plains All American Pipeline, L.p., Series B

Energy Transfer Lp

Western Midstream Partners Lp

Mplx Lp

Enterprise Products Partners Lp

Sunoco, Lp

Enlink Midstream Llc

Hess Midstream Partners Lp

Cheniere Energy Partners Lp

Usa Compression Partners Lp

Oil prices fell 1% Tuesday with geopolitical change and economic uncertainty contributing to market expectations. 
<a href="https://www.benzinga.com/news/global/25/03/44384160/oil-prices-slip-energy-stocks-pause-as-trump-putin-call-signals-ukraine-ceasefire-progress">Diplomatic talks between</a> U.S. President Donald Trump and Russian President Vladimir Putin encouraged the prospect of a Ukraine ceasefire that might relax sanctions on Russian fuel exports, according to Reuters. But analysts warn it will take time for a meaningful recovery in Russian oil output. While this is, at least in part, due to the effects of Trump&#8217;s trade tariffs on energy demand, there are a number of other factors coming into play. These combine to create a complicated energy scenario, making <a href="https://www.benzinga.com/etfs">energy ETFs</a> a focal point of investor interest.
<h1 class="wp-block-heading">How Energy ETFs Fit Into The Picture</h1>
ETFs provide exposure to the energy sector with risk management against changing oil prices and geopolitical events. Here&#8217;s how various kinds of energy ETFs could be impacted:
Diversified Energy ETFs: These offer diversified exposure to exploration, production, refining and transport, enabling investors to control volatility. Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) and the iShares U.S. Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYE#NYSE">IYE</a>) are options to consider, with expense ratios of 0.08% and 0.4%, respectively.
Exploration and Production (E&amp;P) ETFs: Concentrated on extracting oil and gas, these ETFs can experience volatility due to changes in supply and demand. Investors may look at the SPDR S&amp;P Oil &amp; Gas Exploration &amp; Production ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOP#NYSE">XOP</a>) and the iShares U.S. Oil &amp; Gas Exploration &amp; Production ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IEO#BATS">IEO</a>). The ETFs carry an expense ratio of 0.35% and 0.4%, respectively.
Midstream ETFs: Comprising less price-volatile components, these may be rewarded with higher oil transport and storage requirements. Examples include the Alerian MLP ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMLP#NYSE">AMLP</a>) and the Global X MLP ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MLPA#NYSE">MLPA</a>), with expense ratios of 0.85% and 0.45%, respectively.
Also Read: <a href="https://www.benzinga.com/25/03/44217245/us-shale-industry-set-to-boost-oil-output-despite-falling-prices-says-energy-secretary-the-economics-of-shale-dont-work-says-expert">US Shale Industry Can Deliver Trump&#8217;s Pledge For &#8216;Drill, Baby, Drill&#8217; Despite Falling Prices, Says Energy Secretary: &#8216;The Economics Of Shale Don&#8217;t Work,&#8217; Says Expert</a>
<h1 class="wp-block-heading">Contributing Factors To Slowing Oil Prices</h1>
• If sanctions against Russia are relaxed, its crude output — presently at 9.2 million barrels per day (bpd), from 10.6 million bpd in 2016 — might rise. But significant supply shifts might not be immediate, per the Reuters report.
• Trump's tariffs are pressuring global growth. The OECD warns of slower growth, while Wood Mackenzie cut its 2025 Brent crude forecast by $7 to $73 per barrel, according to Reuters.
• OPEC+ is going ahead with its scheduled April output increase, pumping additional supply into the market.
• Middle East uncertainty is another underpinning factor in oil prices. Trump&#8217;s military intervention in support of Iran-aligned Houthis in Yemen and Israeli airstrikes on Gaza inject volatility into the global oil supply.
• Chinese and German economic stimulus may be able to sustain oil demand, offsetting some of the pressure on prices lower.
• This week, the American Petroleum Institute (API) and U.S. Energy Information Administration (EIA) will report on oil inventories. Reuters reported that a 0.9 million barrel build is expected by analysts, which may have an impact on short-term price action.
Oil prices continue to be very volatile based on geopolitical and economic reasons. Energy ETFs provide investors with the means to ride out these changes, managing risk while achieving opportunity. Monitoring worldwide trends and inventory reports will be paramount in making smart investment decisions.
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Photo: Shutterstock

Sector ETFs

Commodities

Global

ETFs

AMLP

iShares Dow Jones US Oil & Gas Exploration & Production Index Fund

iShares Dow Jones US Energy Sector Index Fund

MLPA

Oil Prices Ease: What It Means For Energy ETFs, Investors

MPLX LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPLX#NYSE">MPLX</a>) disclosed that it has entered into a definitive deal with affiliates of WhiteWater and Diamondback Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>) to acquire the remaining 55% interest in <a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/n44038578/mplx-lp-announces-agreement-to-acquire-remaining-55-interest-in-bangl-llc-advancing-ngl-wellhead-t" rel="noreferrer noopener">BANGL, LLC</a><a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/n44038578/mplx-lp-announces-agreement-to-acquire-remaining-55-interest-in-bangl-llc-advancing-ngl-wellhead-t" rel="noreferrer noopener"> for $715 million</a>.
Additionally, MPLX may make earnout payments up to a specified cap upon meeting certain financial performance targets.
The transaction is immediately accretive and is expected to deliver mid-teen returns for the partnership.
The transaction, subject to customary closing conditions, is projected to close in&nbsp;July 2025.
Post closure, the BANGL Pipeline will be a wholly owned asset of MPLX and will be consolidated in MPLX&#8217;s financial results.
Maryann Mannen, MPLX president and chief executive officer, said, &#8220;With full ownership of BANGL and its expansion opportunities, our growth platform is further improved for the long term as we connect growing NGL production from the Permian basin to our recently announced Gulf Coast fractionation complex.&#8221;
Earlier this month, MPLX reported&nbsp;fourth-quarter&nbsp;earnings per limited partner unit of&nbsp;$1.07, beating the consensus of&nbsp;$1.03. Total revenues and other income&nbsp;of&nbsp;$3.06 billion&nbsp;missed&nbsp;the consensus of&nbsp;$3.07 billion.&nbsp;
As of December 31, 2024, MPLX had&nbsp;$1.5 billion&nbsp;in cash,&nbsp;$2.0 billion&nbsp;available on its bank revolving credit facility, and&nbsp;$1.5 billion&nbsp;available through its <a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/n43457519/mplx-lp-progresses-gulf-coast-ngl-strategy-and-reports-full-year-2024-results" rel="noreferrer noopener">intercompany loan agreement with MPC</a>.
Investors can gain exposure to the stock via&nbsp;InfraCap MLP ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMZA#NYSE">AMZA</a>) and Alerian MLP ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMLP#NYSE">AMLP</a>).
Price Action: MPLX shares are up 0.38% at $52.44 at the last check Friday.
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Photo via Shutterstock.

Equities

Large Cap

News

AMZA

FANG

MPLX

MPLX Seals $715 Million Deal For Full Control Of BANGL Pipeline: Details

Sunoco LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUN#NYSE">SUN</a>) shares are trading lower after it reported&nbsp;fourth-quarter&nbsp;revenues&nbsp;of&nbsp;$5.27 billion, which&nbsp;missed the <a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/n43618892/sunoco-lp-reports-fourth-quarter-and-record-full-year-2024-financial-and-operating-results" rel="noreferrer noopener">consensus of&nbsp;$6.21 billion</a>.
Adjusted distributable cash flow of&nbsp;$261&nbsp;million&nbsp;was higher than&nbsp;$148&nbsp;million&nbsp;a year ago. Adjusted EBITDA increased to&nbsp;$439&nbsp;million&nbsp;from&nbsp;$236&nbsp;million&nbsp;a year ago.
EPS of&nbsp;$0.75&nbsp;missed&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">the consensus of&nbsp;$1.34</a>.
The Fuel Distribution segment sold around 2.2 billion gallons of fuel (broadly flat&nbsp;year over year), with the fuel margin for all gallons sold at 10.6&nbsp;cents per gallon versus 11.8&nbsp;cents per gallon in the prior year quarter.
Adjusted EBITDA&nbsp;for the Fuel Distribution segment declined to&nbsp;$192 million compared to&nbsp;$209 million in the prior year quarter.
Total capital expenditures were&nbsp;$132&nbsp;million, including&nbsp;$74&nbsp;million for growth capital and&nbsp;$58&nbsp;million for maintenance capital.
On&nbsp;January 27, Sunoco&nbsp;declared a distribution of&nbsp;$0.8865&nbsp;per unit, payable on February 19, to unitholders of record as of February 7, 2025.
As of December 31, the company had long-term debt of about&nbsp;$7.5 billion and approximately&nbsp;$1.3 billion in liquidity remaining on its&nbsp;$1.5 billion revolving credit facility.
Outlook: For 2025, the company expects adjusted EBITDA of $1.90 billion &#8211; $1.95 billion, total operating expenses of $900 million &#8211; $925 million, growth capital expenditures of at least $400 million, and maintenance<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener"> capital expenditures of about $150 million</a>.
The company targets a distribution growth rate of at least 5% for 2025 and will announce future increases quarterly.
Investors can gain exposure to the stock via&nbsp;InfraCap MLP ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMZA#NYSE">AMZA</a>) and&nbsp;Alerian MLP ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMLP#NYSE">AMLP</a>).
Price Action: SUN shares are down 2.81% at $55.07 at the last check Tuesday.
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<li><a href="https://www.benzinga.com/content/43307580/energy-transfer-high-yield-promise-meets-growth-trajectory" target="_blank" rel="noreferrer noopener">Energy Transfer: High-Yield Promise Meets Growth Trajectory</a></li>
</ul>
Photo via Shutterstock.

Earnings

Guidance

Movers

Sunoco Q4 Results Show Margin Pressure In Fuel Distribution, Misses Estimates

Plains All American Pipeline, L.P. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAA#NASDAQ">PAA</a>) reported&nbsp;fourth-quarter&nbsp;revenue of&nbsp;$12.402 billion,&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/g43556573/plains-all-american-reports-fourth-quarter-and-full-year-2024-results-provides-update-on-efficient" rel="noreferrer noopener">missing the consensus of&nbsp;$13.742 billion</a>.
Adjusted EPS was 42 cents, flat year-over-year,<a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener"> beating the consensus of 40 cents</a>.
The adjusted EBITDA attributable to PAA fell 1% Y/Y to $729 million. The Crude Oil Segment Adjusted EBITDA rose 1% Y/Y to $569 million on higher tariff volumes, escalations, and contributions from acquisitions.
NGL segment Adjusted EBITDA fell&nbsp;9%&nbsp;YoY to&nbsp;$154 million&nbsp;due to lower weighted average frac spreads.
The company ended the year with a 3.0x leverage ratio. PAA&#8217;s operating cash flow for the year was&nbsp;$2.49 billion&nbsp;compared to&nbsp;$2.73 billion. Adjusted free cash flow was&nbsp;$1.25 billion in the year.
2025 Outlook: Plains All American sees adjusted EBITDA attributable to PAA of&nbsp;$2.80 billion &#8211; $2.95 billion, with <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">adjusted free cash flow of $1.15 billion</a>. This includes a reduction of around $580 million due to previously announced bolt-on transactions completed in the first quarter.
As announced earlier, the company disclosed distribution increase of $0.25 per unit payable February 14, 2025, representing a 20% aggregate increase in the annualized distribution vs.2024 levels, leading to new <a target="_blank" href="https://www.benzinga.com//node/42864671" rel="noreferrer noopener">annual distribution of $1.52 per unit.</a>
Plains All American expects the leverage ratio to be at or below the low end of the leverage target range of 3.25x to 3.75x.
The company targets growth capital of around $400 million and maintenance capital of about $240 million, net to PAA.
Willie Chiang, Chairman and CEO of Plains said, &#8220;We remain confident entering 2025, with strong operational momentum and focus on executing our efficient growth strategy. Our strong performance and positive outlook combined with the contribution from recent bolt-on acquisitions continues driving meaningful cash flow and underpins increasing returns to unitholders all while maintaining capital discipline and financial flexibility.&#8221;
Investors can gain exposure to the stock via&nbsp;InfraCap MLP ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMZA#NYSE">AMZA</a>) and&nbsp;Alerian MLP ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMLP#NYSE">AMLP</a>).
Price Action: PAA shares are up 0.35% at $20.08 premarket at the last check Friday.
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</ul>
Image via Shutterstock.

Plains All American Q4: EPS Beat, Focus On Growth Strategy, Positive Outlook & More

Former Congresswoman and current South Dakota governor, Kristi Noem, was announced as Donald Trump's pick to lead the<a href="https://www.benzinga.com/24/11/41950826/kristi-noems-appointment-as-homeland-security-secretary-raises-questions-about-federal-cannabis-policy"> Department of Homeland Security.</a>
Here's a look at Noem's finances and wealth.
Trump's Pick: Since winning the 2024 presidential election, Trump has started announcing who he will be<a href="https://www.benzinga.com/general/education/24/11/42171604/trumps-department-of-education-secretary-pick-linda-mcmahon-owns-tko-stock-thanks-to-famous-wrestling-past"> nominating for Cabinet positions.</a>
While many of the picks await official nomination and Congressional approval, Trump has been busy assembling his team.
Noem served in the U.S. House of Representatives from 2011 to 2019 and has been governor of South Dakota since 2019.
The governor was on the shortlist of candidates that were expected to be named as Trump's vice-presidential pick for the 2024 election, even being one of <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36749394/trump-vice-president-pick-crypto-bettors-backing-haley-ramaswamy-desantis-and-this-potenti">the betting favorites</a> at prediction market Polymarket for some time.
A controversy involving Noem's newest book saying that her 14-month-old family hunting dog was shot by the politician may have led to her falling out as a top pick for the vice president role.
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Noem's Finances: As governor of South Dakota, Noem collects an annual salary of $121,578 as reported by <a href="https://ballotpedia.org/South_Dakota_state_government_salary">Ballotpedia</a>.
While in Congress, Noem collected a salary of $174,000 annually.
If elected to Trump's cabinet, Noem will <a href="https://www.opm.gov/policy-data-oversight/pay-leave/salaries-wages/salary-tables/24Tables/exec/html/EX.aspx">collect </a>an annual salary of $246,400.
A recent 2023 financial disclosure form filed in South Dakota showed that Noem has financial interest in Noem Insurance, run by her husband Byron Noem, and several small businesses.
Noem also listed cash rent from pastures as a source of income and has previously declared a family ranch in financial disclosures. The ranch was inherited when her father passed away and is co-owned with her mother and siblings.
The South Dakota governor has authored two books, which she lists as a source of income for royalties. The autobiography books are "Not My First Rodeo: Lessons from the Heartland" and "No Going Back," which were published in 2022 and 2024, respectively.
Noem's most recent disclosure from <a href="https://sdsos.gov/general-information/executive-actions/elected-officials-fis/search/Document.aspx?CabId=523E2A2A&amp;DocGuid=20230109-1607-2507-8681-b9af75c9a054">2023 </a>is easy to find and read on the South Dakota Secretary of State website. Older <a href="https://sdsos.gov/general-information/executive-actions/elected-officials-fis/search/Default.aspx">disclosures </a>don't load as images.
Estimates on Noem's wealth have varied greatly over the years based on some of the questions about her disclosures.
An estimate from <a href="https://www.opensecrets.org/personal-finances/kristi-noem/net-worth?cid=N00032022">OpenSecrets </a>in 2017 listed Noem's wealth at $2.35 million. Money <a href="https://moneyinc.com/kristi-noem-net-worth/">listed </a>her wealth at $4.5 million in a 2023 article using financials from 2021.
Energy Investment: Also listed on Noem's financial disclosures is an investment in Granite Falls Energy, which she has declared income from previously.
Noem disclosed that she made between $25,006 and $70,000 in dividends from the investment from her first Congressional run in 2010 through early 2019, as <a href="https://southdakotasearchlight.com/2023/06/30/noem-investor-in-ethanol-plant-partnered-with-carbon-pipeline-company/">reported </a>by South Dakota Searchlight. South Dakota disclosures do not require Noem to list the amount of income received, only the sources of income.
The report linked the energy company as a partner to Summit Carbon Solutions, a company that had proposed a carbon pipeline in South Dakota.
South Dakota Searchlight said the financial interest in the proposed pipeline raised questions about Noem's lack of support for anti-pipeline legislation in the state.
A spokesperson for Noem told the media outlet that the governor "invested in Granite Falls many years ago and has always appropriately disclosed her finances." The pipeline has struggled to gain voter support in South Dakota.
If elected into Trump's cabinet, Noem's past interest in and investments in energy pipelines could be worth monitoring by investors.
Several pipeline ETFs like the Alerian MLP ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMLP#NYSE">AMLP</a>) and Global X MLP &amp; Energy Infrastructure ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MLPX#NYSE">MLPX</a>) could benefit from having Noem, a pro-pipeline investor, in the Trump White House administration.
Noem's son-in-law Kyle Peters is a <a href="https://sosenterprise.sd.gov/BusinessServices/Lobbyist/LobbyistRegistrationDetail.aspx?CN=104015223000203061037142112123066229130120120058">registered </a>lobbyist for Gevo Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GEVO#NASDAQ">GEVO</a>), a biofuels company, that could benefit from pipelines and energy investments in South Dakota.
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Photo: Maxim Elramsisy via Shutterstock

Entertainment

Government

Education

Politics

GEVO

MLPX

Trump Department Of Homeland Security Pick Kristi Noem Owns Ranch, Invests In Energy, Gets Book Royalties

Sunoco LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUN#NYSE">SUN</a>) shares are trading lower after it reported&nbsp;third-quarter revenues&nbsp;of&nbsp;$5.75 billion, which&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/n41769798/sunoco-lp-reports-third-quarter-2024-financial-and-operating-results" rel="noreferrer noopener">missed the consensus of&nbsp;$6.508 billion</a>.
Adjusted distributable cash flow of&nbsp;$349 million was higher than&nbsp;$181 million a year ago. Adjusted EBITDA increased to&nbsp;$456 million from&nbsp;$257&nbsp;million a year ago.
The Fuel Distribution segment sold around 2.1&nbsp;billion gallons of fuel (+1% year over year), with the fuel margin for all gallons sold at 12.8&nbsp;cents per gallon versus 12.5&nbsp;cents per gallon in the prior year quarter.
Adjusted EBITDA for the Fuel Distribution segment increased to $253 million compared to $234 million in the prior year quarter. Loss per share of $0.26 missed <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">the EPS consensus of $1.55</a>.
Total capital expenditures were&nbsp;$93&nbsp;million, including&nbsp;$67&nbsp;million&nbsp;for growth capital and&nbsp;$26&nbsp;million&nbsp;for maintenance capital.
Distribution:&nbsp;On October 28, Sunoco&nbsp;declared a distribution of&nbsp;$0.8756&nbsp;per unit, payable on November 19, to unitholders of record as of November 8.
As of September 30, the company had long-term debt of about&nbsp;$7.3&nbsp;billion&nbsp;and approximately&nbsp;$1.4 billion&nbsp;in liquidity remaining on its&nbsp;$1.5 billion&nbsp;revolving credit facility.
Investors can gain exposure to the stock via&nbsp;InfraCap MLP ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMZA#NYSE">AMZA</a>) and&nbsp;Alerian MLP ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMLP#NYSE">AMLP</a>).
Price Action: Sunoco shares are down 2.37% at $52.00 premarket at the last check Wednesday.
Photo via Shutterstock
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</ul>

Sunoco Q3 Earnings: Revenue Drop, Stronger Cash Flow & More

Donald Trump has been declared the <a href="https://www.benzinga.com/news/24/11/41768178/donald-trump-defeats-kamala-harris-to-win-2024-election">winner of the 2024 U.S. presidential election</a>, defeating Kamala Harris. This victory, confirmed by the Associated Press, marks Trump&#8217;s return to the White House, raising questions about the future of U.S. energy policy.
What Happened: Trump&#8217;s presidency is anticipated to pivot U.S. energy policy back towards oil and gas production, Reuters reported on Wednesday. However, experts suggest this shift will not significantly hinder the ongoing growth of renewable energy. The Inflation Reduction Act, enacted during the Biden administration, offers substantial subsidies for solar and wind projects, making it challenging to repeal. 
 Carl Fleming from McDermott Will &amp; Emery noted that while Trump&#8217;s administration might slow progress by limiting federal budgets and offshore wind leasing, the momentum remains strong.
&#8220;You could see a new administration come in and they can very quickly begin to cut budgets or restrict budgets or restrict the freedom of agencies to do certain things that are tied to funding,&#8221; he said.
&#8220;But I think that&#8217;s a smaller subset of the larger renewables market that&#8217;s really relying on those, so I don&#8217;t think it would have a shocking effect.&#8221;
See Also: <a href="https://www.benzinga.com/markets/equities/24/11/41767332/trumps-potential-return-to-white-house-sends-ex-president-linked-phunware-stock-upwards-during-p?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Potential Return To White House Sends Ex-President Linked Phunware Stock Upwards During Pre-Market Hours</a>
Trump&#8217;s allies, benefiting from clean energy investments, may resist drastic policy changes. Tony Dutzik from Frontier Group suggested Trump could favor fossil fuel extraction on public lands, potentially impacting offshore wind projects. Despite potential policy shifts, the U.S. is expected to maintain its status as a leading oil and gas producer.
Why It Matters: The 2024 election was a closely watched contest between Trump and Harris, with <a href="https://www.benzinga.com/news/24/11/41768178/donald-trump-defeats-kamala-harris-to-win-2024-election">Trump emerging victorious</a>. This victory comes amid a backdrop of cautious market sentiment, as investors remained wary ahead of Election Day. 
The <a href="https://www.benzinga.com/markets/equities/24/11/41724383/wall-street-struggles-ahead-of-election-day-energy-sector-outperforms-solar-stocks-rise-whats-dr">energy sector outperformed</a>, with solar stocks rising, indicating strong investor confidence in renewables. Trump&#8217;s previous administration prioritized fossil fuels, but the ongoing clean energy boom, bolstered by federal incentives, suggests that the transition to renewables is resilient. As <a href="https://www.benzinga.com/markets/equities/24/10/41213583/what-a-trump-win-could-mean-for-financial-energy-stocks-lessons-from-2016">lessons from 2016</a> indicate, Trump&#8217;s policies may influence energy markets, but the momentum towards clean energy appears robust.
Price Action: On Wednesday, during pre-market hours, <a href="https://pro.benzinga.com">Benzinga Pro </a>data revealed that energy ETFs were trading higher. Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) was up by 2.58%, Alerian MLP ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMLP#NYSE">AMLP</a>) was trading 1.24% higher, and Vanguard Energy Index Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VDE#NYSE">VDE</a>) was moving up by 2.92%.
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/11/41703265/haley-tells-pennsylvania-voters-to-put-emotion-aside-and-rally-behind-trump?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Haley Tells Pennsylvania Voters To Put Emotion Aside And Rally Behind Trump</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image via Flickr

Analyst Color

Markets

General

Trump's Return To White Won't Have 'Shocking Effect' On US Clean Energy Growth, Say Analysts

EnLink Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENLC#NYSE">ENLC</a>) shares are trading higher premarket Thursday after ONEOK, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKE#NYSE">OKE</a>) agreed to acquire Global Infrastructure Partners&#8216; (GIP) 43% stake in the company <a href="https://www.benzinga.com/pressreleases/24/08/n40616439/oneok-to-acquire-medallion-and-controlling-interest-in-enlink-from-global-infrastructure-partners-" target="_blank" rel="noreferrer noopener">for $3 billion, or $14.90 per unit</a>.
The per unit price represents a 12.8% premium over EnLink&#8217;s closing market price as of Aug. 27, 2024.
The deal also includes 100% of the managing member&#8217;s interests for $300 million. This brings the total cash consideration to approximately $3.3 billion.
Separately, ONEOK will also acquire all equity interests in Medallion Midstream, LLC, for $2.6 billion in cash.
This acquisition, representing about 6.3 times the estimated 2025 EBITDA. It includes base case synergies, and pertains to Medallion&#8217;s extensive crude gathering and transportation system in the Permian&#8217;s Midland Basin.
The total transactions are valued at $5.9 billion.
The deals add 1.7 billion cubic feet per day to ONEOK&#8217;s Permian gas processing capacity and 1.6 million barrels per day of Permian crude gathering capacity. 
ONEOK plans to leverage its expanded platforms to enhance service offerings for producers in the Permian Basin.
The transactions are not cross-conditioned and are anticipated to close early in the fourth quarter of 2024.
Synergies: The transactions are expected to support ONEOK&#8217;s $2 billion share repurchase program.
Following these deals, ONEOK expects to achieve annual synergies of $250 million <a href="https://www.benzinga.com/calendars/guidance" target="_blank" rel="noreferrer noopener">to $450 million within three years</a>.
Following the transaction with GIP, EnLink will become a consolidated subsidiary of ONEOK for GAAP financial reporting.
Investors can gain exposure to ENLC via Global X MLP ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MLPA#NYSE">MLPA</a>) and Alerian MLP ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMLP#NYSE">AMLP</a>).
Price Action: ENLC shares are up 13.22% at $14.90 premarket at the last check Thursday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/23/08/33527138/exxon-mobil-top-stories-enlink-midstreams-sustainability-report-lithium-supply-chain-talks-and-globa" target="_blank" rel="noreferrer noopener">Exxon Mobil Top Stories: EnLink Midstream&#8217;s Sustainability Report, Lithium Supply Chain Talks and Global Lubricants Market Report</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Mid Cap

ENLC

ONEOK Spends $3B On EnLink Midstream Stake, $2.6B On Medallion

As <a href="https://www.benzinga.com/topic/2024-presidential-election">the 2024 U.S. Presidential election</a> approaches, the energy sector stands at a crossroads. 
Potential shifts in policy could significantly impact both traditional and <a href="https://www.benzinga.com/topic/clean-energy">clean energy markets</a>.
According to <a href="https://markets.jpmorgan.com/research/email/scx/qijkd11j/LK2zzrWZCAlD7mRxHsWnxA/GPS-4675360-0">insights</a> from JPMorgan's Strategic Research team, the outcome of the election between incumbent President Joe Biden and Ex-President Donald Trump could lead to varying scenarios. 
Each of these scenarios has distinct implications for investors and companies in the sector.
<h3 class="wp-block-heading">1. Biden Presidency, Split Congress</h3>
<ul>
<li>Clean Energy: This scenario is seen as the lowest risk for the clean energy sector. A divided Congress would likely maintain the status quo, making it difficult to roll back or repeal the <a href="https://home.treasury.gov/news/press-releases/jy2376">Inflation Reduction Act</a> (IRA) incentives. This stability is favorable for companies relying on federal clean energy incentives. Under Biden, hundreds of billions of dollars were put toward <a href="https://www.whitehouse.gov/briefing-room/statements-releases/2024/04/04/biden-harris-administration-announces-historic-20-billion-in-awards-to-expand-access-to-clean-energy-and-climate-solutions-and-lower-energy-costs-for-communities-across-the-nation/">incentives</a> for green energy.</li>
<li>Traditional Energy: The regulatory environment under Biden is expected to remain challenging, but stable. Companies have adapted to tighter regulations, which have not hindered record oil and gas output in the U.S. During Biden&#8217;s presidency, the U.S. <a href="https://www.eia.gov/todayinenergy/detail.php?id=61545">set a record</a> for crude oil production. In 2023, it outpaced what all other countries — including Saudi Arabia — have ever produced in one year. </li>
</ul>
<h3 class="wp-block-heading">2. Trump Presidency, Split Congress</h3>
<ul>
<li>Clean Energy: This scenario raises the risk profile slightly. A split Congress would make it challenging to repeal IRA incentives; Trump — who <a href="https://www.nytimes.com/interactive/2020/climate/trump-environment-rollbacks-list.html">rolled</a> back more than 100 pro-environmental policies during his administration — will likely slow their implementation by reducing funding to relevant departments. He may also impact grant and loan spending. </li>
<li>Traditional Energy: Trump — who <a href="https://apnews.com/article/trump-hannity-dictator-authoritarian-presidential-election-f27e7e9d7c13fabbe3ae7dd7f1235c72">vowed</a> to be a dictator on &#8220;day one&#8221; so he can &#8220;drill, drill, drill" — could ease regulations, potentially increase access to resources on federal lands and reduce regulations, thereby supporting more exports.</li>
</ul>
<h3 class="wp-block-heading">3. Trump Presidency, Republican Congress</h3>
<ul>
<li>Clean Energy: This is considered the highest-risk scenario for clean energy. A Republican majority could partially repeal the IRA through a reconciliation bill, particularly targeting unspent funds. However, full repeal is unlikely due to significant investments in Republican states.</li>
<li>Traditional Energy: The sector could benefit from reduced regulations and increased resource access. Policies encouraging more energy exports, such as LNG, could positively impact the long-term gas market.</li>
</ul>
JPMorgan did not explore the scenario of a Biden presidency and Democrat Congress.
Also Read: <a href="https://www.benzinga.com/news/24/05/39012457/enphase-stock-surges-amid-bidens-tariff-boost-on-chinese-solar-imports">Enphase Stock Surges Amid Biden&#8217;s Tariff Boost On Chinese Solar Imports</a>
<h3 class="wp-block-heading">Clean Energy Stocks</h3>
<ul>
<li>Valuation and Sentiment: Clean energy stocks, including those in electric vehicle (EV) charging and green hydrogen, have lagged due to weak fundamentals. Election outcomes could exacerbate this trend, especially under a Republican sweep.</li>
<li>Loan Programs: A Republican sweep might curtail the DOE Loan Programs Office's authority, negatively impacting companies seeking non-dilutive funding for capex-intensive projects.</li>
<li>Subsidies and Tariffs: Potential downsizing or repeal of subsidies for EVs and tightening of charging incentives are risks. However, protectionist measures like <a href="https://www.benzinga.com/markets/asia/24/05/38824198/biden-announces-massive-tariffs-on-chinese-imports-to-protect-us-industries-clean-energy-solar-stock">tariffs on Chinese imports</a> are likely to remain, regardless of the administration.</li>
</ul>
Investors in the iShares Global Clean Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICLN#NYSE">ICLN</a>), the First Trust NASDAQ Clean Edge Green Energy Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QCLN#NYSE">QCLN</a>) and the Invesco WilderHill Clean Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBW#NYSE">PBW</a>) must take heed of these observations.
<h3 class="wp-block-heading">Traditional Energy Stocks</h3>
<ul>
<li>Regulations: The Trump administration could ease regulations and increase resource access, but ongoing legal and political challenges could continue to <a href="https://www.benzinga.com/news/24/05/38997165/trumps-policies-for-money-transaction-with-big-oil-under-investigation-by-senate-democrats-cronyism">shape the regulatory landscape</a>.</li>
<li>Refiners: Refiners might benefit from the continuation of Trump-era corporate tax cuts. However, geopolitical tensions, such as those in the Middle East, could pose risks to crude supply and impact refiner margins.</li>
</ul>
Investors in the Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>), the Vanguard Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VDE#NYSE">VDE</a>) and the Alerian MLP ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMLP#NYSE">AMLP</a>) may want to adjust their positioning based on these observations.
<h3 class="wp-block-heading">Utility and Renewables </h3>
<ul>
<li>Regulated vs. Unregulated: Unregulated renewables are more sensitive to election outcomes, while regulated utilities are less affected. A Biden re-election could be a catalyst for renewables to regain ground lost in 2023.</li>
<li>IRA Resilience: Core utility and renewable energy provisions of the IRA are expected to be resilient, though a Trump victory could create uncertainty until policy clarity emerges.</li>
</ul>
See Also: <a href="https://www.benzinga.com/markets/esg/24/05/38759168/solar-is-leaving-wind-in-the-dust-as-world-renewable-energy-hits-new-high">Solar Is Leaving Wind In The Dust As Renewables Hit New High</a>
Utility sector investors such as those invested in the Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>), the Global X US Infrastructure Development ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAVE#NYSE">PAVE</a>) or the Vanguard Utilities ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VPU#NYSE">VPU</a>) must take note of such observation.
For those looking to get exposure to renewables, the ICLN, QCLN and PBW ETFs are popular capital market funds in the space.
<h3 class="wp-block-heading">Investment Considerations</h3>
Investors should monitor the evolving political landscape as the election approaches. The potential for policy shifts under different election scenarios underscores the importance of a diversified portfolio. 
As always, staying informed and agile in response to political developments will be key to navigating the energy sector&#8217;s challenges and opportunities in the run-up to the 2024 election.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/39082854/exclusive-will-trumps-possible-return-to-power-make-bitcoin-ethereum-go-boom-or-bus">EXCLUSIVE &#8211; Will Trump&#8217;s Possible Return To Power Make Bitcoin, Ethereum Go Boom Or Bust? Experts Weigh In On Crypto&#8217;s Regulatory Future</a>
Image: Shutterstock

Regulations

Specialty ETFs

Analyst Ratings

iShares S&P Global Clean Energy Index Fund

ICLN

PAVE

PowerShares Exchange Traded Fund Trust WilderHill Clean Energy Portfolio

First Trust NASDAQ Clean Edge Green Energy Index Fund

QCLN

What A Biden Or Trump Victory Might Mean For The Energy Sector

Plains All American Pipeline, L.P.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAA#NASDAQ">PAA</a>) shares are trading higher after it reported revenue of $11.995 billion,&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/g38610626/plains-all-american-reports-first-quarter-2024-results" rel="noreferrer noopener">missing the consensus of $12.977 billion</a>.
The company reported an operating income of $370 million, compared to $473 million a year ago. The adjusted EBITDA attributable to PAA remained broadly flat Y/Y at $718 million.
The Crude Oil Segment Adjusted EBITDA rose 7% Y/Y to $553 million, led by higher&nbsp;tariff volumes on the pipelines, tariff escalations&nbsp;and&nbsp;contributions from acquisitions.
NGL Segment Adjusted EBITDA decreased 17% Y/Y to $159 million, due to lower realized frac spreads. PAA generated an adjusted free cash flow of $262 million in the quarter.
Adjusted earnings per common unit was $0.41 (flat Y/Y), <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">beating the consensus of $0.39.</a>
Also&nbsp;Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/05/38606177/plains-all-american-pipeline-gears-up-for-q1-print-these-most-accurate-analysts-revise-forecasts-ah" rel="noreferrer noopener">Plains All American Pipeline Gears Up For Q1 Print; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call</a>
The company increased annualized&nbsp;common&nbsp;distribution by $0.20 to $1.27 per unit (an increase of 19% Y/Y, paid in February).
Outlook: The company expects underlying growth in the business and contributions from efficient growth investments to offset lower contracted rates, resulting in broadly flat adjusted EBITDA in 2026 vs. 2024 guidance for&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">the Crude Oil segment</a>.
&#8220;Separately, we successfully extended the duration of our Permian long-haul portfolio, including Cactus I.&nbsp;This&nbsp;represents a major milestone and provides greater clarity on the outlook for our long-haul assets. Better visibility around re-contracting combined with our disciplined operational and financial performance should provide investors with greater confidence in the outlook for the business and our ability to continue generating significant free cash flow for years to come,&#8221; commented Willie Chiang, Chairman and CEO.
Investors can gain exposure to the stock via&nbsp;InfraCap MLP ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMZA#NYSE">AMZA</a>) and&nbsp;Alerian MLP ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMLP#NYSE">AMLP</a>).
Price Action: PAA shares are up 1.68% at $17.52 at the last check Friday.
Photo via Shutterstock

Pipeline Powerhouse Plains All American Beats On Earnings with Flat EBITDA: Details

We performed a screening of mid-cap ETFs, defined as having Assets Under Management (AUM) between $2 billion and $10 billion &#8211; to determine what funds had the largest positive and negative returns on the week, according to data from <a href="http://etfdb.com">etfdb.com</a>. Only non-leveraged funds were considered.
<h2 class="wp-block-heading">Winners</h2>
iShares Global Clean Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICLN#NYSE">ICLN</a>)
ICLN is up 8.59% over the trailing week.
The iShares Global Clean Energy ETF offers exposure to companies involved in developing and deploying sustainable energy solutions and technologies.
The fund has $2.94 billion in AUM and an expense ratio of 0.41%. ICLN has holdings in 102 companies, with the 10 largest comprising 44.34% of the fund.
The fund's largest holdings are First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLSR#NASDAQ">FLSR</a>) and Enphase Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) making up 8.00% and 7.16% of the fund, respectively.
ICLN is down 22.41% YTD.
SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>)
KRE is up 8.10% over the trailing week.
The SPDR S&amp;P Regional Banking ETF is linked to an equal-weighted index of regional bank stocks, an industry that has seen much turmoil this year after the collapse of several high-profile banks. KRE is more diversified and evenly distributed than its competitors.
The fund has $3.92 billion in AUM and an expense ratio of 0.35%. KRE has holdings in 140 companies, with the 10 largest comprising 31.32% of the fund.
The fund's largest holdings are Western Alliance Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>) and Zions Bancorporation, N.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZION#NASDAQ">ZION</a>) making up 3.60% and 3.42% of the fund, respectively.
KRE is down 7.44% YTD.
<h2 class="wp-block-heading">Losers</h2>
WisdomTree Japan Hedged Equity Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DXJ#NYSE">DXJ</a>)
DXJ is down 2.24% on the week.
The WisdomTree Japan Hedged Equity Fund offers exposure to the Japanese market. It also hedges out currency fluctuations, eliminating the threat of changes in the Yen.
The fund has $3.01 billion in AUM and an expense ratio of .48%. The fund is spread across 449 companies with the top 10 holdings accounting for 30.19% of the fund's value.
DXJ's largest holdings are Toyota Motor Corp. (TYO:<a class="ticker" href="https://www.benzinga.com/stock/TYO:7203#TYO">7203</a>) and Mitsubishi UFJ Financial Group, Inc. (TYO:<a class="ticker" href="https://www.benzinga.com/stock/TYO:8306#TYO">8306</a>) making up 4.84% and 4.62% of the fund, respectively.
DXJ is up 33.16% YTD.
Alerian MLP ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMLP#NYSE">AMLP</a>)
AMLP is down 0.69% over the trailing week.
The Alerian MLP ETF, like AMJ, offers exposure to the energy MLP sector. In addition to avoiding corporate taxes, MLPs also require quarterly distributions, providing cash flow. The fund has $7.30 billion in AUM and an expense ratio of 0.87%. AMLP has holdings in 17 companies, with the 10 largest comprising 93.04% of the fund.
The fund's largest holdings are Energy Transfer LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ET#NYSE">ET</a>) and MPLX LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPLX#NYSE">MPLX</a>) making up 13.05% and 12.74% of the fund, respectively.
AMLP is up 19.91% YTD.

WisdomTree Trust Japan Total Dividend Fund

ENPH

FLSR

TYO:7203

TYO:8306

ZION

ETF Winners And Losers: Mid-Cap Returns - Sustainability Fund Up Big, Fund Linked To Japan's Economy Drops

David Tepper, the owner of the Carolina Panthers and founder of&nbsp;Appaloosa Management,&nbsp;has become a self-made billionaire through the hedge fund he manages and the gains from his stock portfolio.
A&nbsp;recent <a href="https://www.sec.gov/Archives/edgar/data/1656456/000165645622000003/xslForm13F_X01/Form13FInfoTable.xml">13F-HR SEC filing</a> has revealed to the public the various companies Tepper currently has&nbsp;holdings&nbsp;in. This article will take a look at the five companies that provide the billionaire investor the highest dividend yield.&nbsp;
1. MPLX LP (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mplx#NYSE">MPLX</a>) 
Price: $32.78 
52-Week Range: $26.80 to $35.49 
YTD Performance: 9.54% 
Dividend Yield:&nbsp;8.60%
2. Energy Transfer LP Unit (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/et#NYSE">ET</a>) 
Price: $11.66 
52-Week Range: $7.96 to $12.48 
YTD Performance: 33.98% 
Dividend Yield: 7.80%
3. ALPS Alerian MLP ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/amlp#NYSE">AMLP</a>) 
Price: $39.10 
52-Week Range: $30.04 to $42.18 
YTD Performance: 16.15% 
Dividend Yield: 6.96%
4. Enterprise Products Partners L.P. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/epd#NYSE">EPD</a>) 
Price: $27.12 
52-Week Range: $20.42 to $28.65 
YTD Performance: 19.79% 
Dividend Yield: 6.96%
5. Kohl&rsquo;s Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kss#NYSE">KSS</a>) 
Price: $33.93 
52-Week Range: $26.07 to $64.38 
YTD Performance: &ndash;31.57% 
Dividend Yield:&nbsp;5.70%
Even though the majority of the stocks previously listed have had a strong year so far, having a high dividend yield still brings peace of mind to investors. While this article covered some of Tepper&rsquo;s portfolio, it consists of 28 stocks and 16 of them have a dividend. To see the full list of Tepper&rsquo;s holdings, click this <a href="https://www.sec.gov/Archives/edgar/data/1656456/000165645622000003/xslForm13F_X01/Form13FInfoTable.xml">link</a>.
Dividend payouts can provide income for traders and also make many of the large cap stocks fall into the value category instead of growth, which can mean predictable earnings and dividend increases.
Photo: Courtesy of&nbsp;<a href="https://www.flickr.com/photos/teppercmu/" id="yui_3_16_0_1_1660758617471_16030" title="Go to TepperCMU's photostream">TepperCMU</a>&nbsp;on flickr 
&nbsp;

&nbsp;

Dividends

Hedge Funds

Trading Ideas

Invest Like Carolina Panthers Owner David Tepper With These 5 Big Dividend Stocks His Hedge Fund Owns

It&#39;s well-known <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/03/26201733/how-to-play-bank-stocks-now-that-interest-rates-are-rising">interest rates are rising</a>, but they&#39;re still below their long-term historical averages. Investors&nbsp;seeking to invest for income can consider the Alerian MLP ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/amlp#NYSE">AMLP</a>).
At the current price, the dividend yield is about 7.5%.
This fund invests in energy infrastructure Master Limited Partnership (MLPs). MLPs build, own, and operate energy infrastructure assets. These include things like pipelines, storage facilities&nbsp;and processing plants.
These types of organizations tend to pay out their profits as dividends instead of reinvesting them back into the company. This makes MLPs an attractive option for investors seeking income.
To learn more about ETFs and trading, check out the new <a href="https://www.benzinga.com/premium/ideas/benzinga-trading-school/?utm_source=topnav&amp;utm_medium=topnav">Benzinga Trading School</a>.
<img alt="amlp_0.png" src="https://www.benzinga.com/files/u344550/amlp_0.png" style="height:400px; width:640px" />

This Energy ETF Has A 7.5% Dividend Yield

Alerian MLP ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMLP#NYSE">AMLP</a>) shares experienced unusual options activity on Monday. The stock price moved down to $32.37 following the option alert. 
<ul>
<li>Sentiment: BEARISH</li>
<li>Option Type: TRADE</li>
<li>Trade Type: PUT</li>
<li>Expiration Date: 2021-10-15</li>
<li>Strike Price: $31.00</li>
<li>Volume: 3000</li>
<li>Open Interest: 10042</li>
</ul>
<h2>Three Indications Of Unusual Options Activity</h2>
One way options market activity can be considered unusual is when volume is exceptionally higher than its historical average. The volume of options activity refers to the number of contracts traded over a given time period. The number of contracts that have been traded, but not yet closed by either counterparty, is called open interest. A contract cannot be considered closed until there exists both a buyer and seller for it. 
The trading of a contract with an expiration date in the distant future is another sign of unusual activity. Generally, additional time until a contract expires increases the potential for it to reach its strike price and grow its time value. Time value is important in this context because it represents the difference between the strike price and the value of the underlying asset. 
"Out of the money" contracts are unusual because they are purchased with a strike price far from the underlying asset price. "Out of the money" occurs when the underlying price is under the strike price on a call option, or above the strike price on a put option. Buyers and sellers try to take advantage of a large profit margin in these instances because they are expecting the value of the underlying asset to change dramatically in the future. 
<h2>Bullish And Bearish Sentiments</h2>
Options are "bullish" when a call is purchased at/near ask price or a put is sold at/near bid price. Options are "bearish" when a call is sold at/near bid price or a put is bought at/near ask price. 
These observations are made without knowing the investor's true intent by purchasing these options contracts. The activity is suggestive of these strategies, but an observer cannot be sure if a bettor is playing the contract outright or if the options bettor is hedging a large underlying position in common stock. For the latter case, bullish options activity may be less meaningful than the exposure a large investor has on their short position in common stock.
<h2>Trading Options With These Strategies</h2>
Unusual options activity is an advantageous strategy that may greatly reward an investor if they are highly skilled, but for the less experienced trader, it should remain as another tool to make an educated investment decision while taking other observations into account.
For more information to understand options alerts, visit <a href="https://pro.benzinga.help/en/articles/1769505-how-do-i-understand-options-alerts" title="https://pro.benzinga.help/en/articles/1769505-how-do-i-understand-options-alerts">https://pro.benzinga.help/en/articles/1769505-how-do-i-understand-options-alerts</a>

Unusual Options Activity Insight: Alerian MLP ETF

On Friday, shares of Alerian MLP ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMLP#NYSE">AMLP</a>) saw unusual options activity. After the option alert, the stock price moved up to $32.78. 
<ul>
<li>Sentiment: BEARISH</li>
<li>Option Type: TRADE</li>
<li>Trade Type: CALL</li>
<li>Expiration Date: 2021-09-24</li>
<li>Strike Price: $31.50</li>
<li>Volume: 400</li>
<li>Open Interest: 0</li>
</ul>
<h2>Three Indications Of Unusual Options Activity</h2>
Extraordinarily large volume (compared to historical averages) is one indication of unusual options market activity. Volume refers to the total number of contracts traded over a given time period when discussing options market activity. The number of contracts that have been traded, but not yet closed by either counterparty, is called open interest. A contract cannot be considered closed until there exists both a buyer and seller for it. 
The trading of a contract with an expiration date in the distant future is another sign of unusual activity. Generally, additional time until a contract expires increases the potential for it to reach its strike price and grow its time value. Time value is important in this context because it represents the difference between the strike price and the value of the underlying asset. 
Contracts with a strike price far from the underlying price are also considered unusual because they are defined as being "out of the money". This occurs when the underlying price is under the strike price on a call option, or above the strike price on a put option. These trades are made because the underlying asset value is expected to change dramatically in the future, and the buyer or seller can take advantage of a greater profit margin. 
<h2>Bullish And Bearish Sentiments</h2>
Options are "bullish" when a call is purchased at/near ask price or a put is sold at/near bid price. Options are "bearish" when a call is sold at/near bid price or a put is bought at/near ask price. 
These observations are made without knowing the investor's true intent by purchasing these options contracts. The activity is suggestive of these strategies, but an observer cannot be sure if a bettor is playing the contract outright or if the options bettor is hedging a large underlying position in common stock. For the latter case, bullish options activity may be less meaningful than the exposure a large investor has on their short position in common stock.
<h2>Using These Strategies To Trade Options</h2>
Unusual options activity is an advantageous strategy that may greatly reward an investor if they are highly skilled, but for the less experienced trader, it should remain as another tool to make an educated investment decision while taking other observations into account.
For more information to understand options alerts, visit <a href="https://pro.benzinga.help/en/articles/1769505-how-do-i-understand-options-alerts" title="https://pro.benzinga.help/en/articles/1769505-how-do-i-understand-options-alerts">https://pro.benzinga.help/en/articles/1769505-how-do-i-understand-options-alerts</a>

Understanding Alerian MLP ETF's Unusual Options Activity

Alerian MLP ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMLP#NYSE">AMLP</a>) shares experienced unusual options activity on Thursday. The stock price moved up to $34.52 following the option alert. 
<ul>
<li>Sentiment: BULLISH</li>
<li>Option Type: TRADE</li>
<li>Trade Type: CALL</li>
<li>Expiration Date: 2022-01-21</li>
<li>Strike Price: $35.00</li>
<li>Volume: 300</li>
<li>Open Interest: 9318</li>
</ul>
<h2>Three Indications Of Unusual Options Activity</h2>
Exceptionally large volume (compared to historical averages) is one reason for which options market activity can be considered unusual. The volume of options activity refers to the number of contracts traded over a given time period. Open interest is the number of unsettled contracts that have been traded but not yet closed by either counterparty. In other words, open interest represents the quantity of contracts that individual parties have written but not yet found a counterparty for (i.e. a buyer finding a seller, or a seller finding a buyer).
Another sign of unusual activity is the trading of a contract with an expiration date in the distant future. Usually, additional time until a contract expires allows more opportunity for it to reach its strike price and grow its time value. Time value is important to consider because it represents the difference between the strike price and the value of the underlying asset. 
Contracts that are "out of the money" are also indicative of unusual options activity. "Out of the money" contracts occur when the underlying price is under the strike price on a call option, or above the strike price on a put option. These trades are made with the expectation that the value of the underlying asset is going to change dramatically in the future, and buyers and sellers will benefit from a greater profit margin. 
<h2>Understanding Sentiment</h2>
Options are "bullish" when a call is purchased at/near ask price or a put is sold at/near bid price. Options are "bearish" when a call is sold at/near bid price or a put is bought at/near ask price. 
Although the activity is suggestive of these strategies, these observations are made without knowing the investor's true intentions when purchasing these options contracts. An observer cannot be sure if the bettor is playing the contract outright or if they're hedging a large underlying position in a common stock. For the latter case, the exposure a large investor has on their short position in common stock may be more meaningful than bullish options activity. 
<h2>Trading Options With These Strategies</h2>
Unusual options activity is an advantageous strategy that may greatly reward an investor if they are highly skilled, but for the less experienced trader, it should remain as another tool to make an educated investment decision while taking other observations into account.
For more information to understand options alerts, visit <a href="https://pro.benzinga.help/en/articles/1769505-how-do-i-understand-options-alerts" title="https://pro.benzinga.help/en/articles/1769505-how-do-i-understand-options-alerts">https://pro.benzinga.help/en/articles/1769505-how-do-i-understand-options-alerts</a>

Options

On Thursday, shares of Alerian MLP ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMLP#NYSE">AMLP</a>) saw unusual options activity. After the option alert, the stock price moved up to $35.69. 
<ul>
<li>Sentiment: BULLISH</li>
<li>Option Type: SWEEP</li>
<li>Trade Type: PUT</li>
<li>Expiration Date: 2021-07-09</li>
<li>Strike Price: $35.50</li>
<li>Volume: 3000</li>
<li>Open Interest: 7003</li>
</ul>
<h2>Three Signs Of Unusual Options Activity</h2>
Exceptionally large volume (compared to historical averages) is one reason for which options market activity can be considered unusual. The volume of options activity refers to the number of contracts traded over a given time period. The number of contracts that have been traded, but not yet closed by either counterparty, is called open interest. A contract cannot be considered closed until there exists both a buyer and seller for it. 
The trading of a contract with an expiration date in the distant future is another sign of unusual activity. Generally, additional time until a contract expires increases the potential for it to reach its strike price and grow its time value. Time value is important in this context because it represents the difference between the strike price and the value of the underlying asset. 
Contracts with a strike price far from the underlying price are also considered unusual because they are defined as being "out of the money". This occurs when the underlying price is under the strike price on a call option, or above the strike price on a put option. These trades are made because the underlying asset value is expected to change dramatically in the future, and the buyer or seller can take advantage of a greater profit margin. 
<h2>Understanding Sentiment</h2>
Options are "bullish" when a call is purchased at/near ask price or a put is sold at/near bid price. Options are "bearish" when a call is sold at/near bid price or a put is bought at/near ask price. 
Although the activity is suggestive of these strategies, these observations are made without knowing the investor's true intentions when purchasing these options contracts. An observer cannot be sure if the bettor is playing the contract outright or if they're hedging a large underlying position in a common stock. For the latter case, the exposure a large investor has on their short position in common stock may be more meaningful than bullish options activity. 
<h2>Using These Strategies To Trade Options</h2>
Unusual options activity is an advantageous strategy that may greatly reward an investor if they are highly skilled, but for the less experienced trader, it should remain as another tool to make an educated investment decision while taking other observations into account.
For more information to understand options alerts, visit <a href="https://pro.benzinga.help/en/articles/1769505-how-do-i-understand-options-alerts" title="https://pro.benzinga.help/en/articles/1769505-how-do-i-understand-options-alerts">https://pro.benzinga.help/en/articles/1769505-how-do-i-understand-options-alerts</a>

Coming into last week, the price of a barrel of crude oil had increased by over 80% in the prior six months. This had investors nervous.
Then came the news that the Colonial Pipeline was successfully shut down by a cyberattack. Now there are reports of panic buying in the southeastern part of the country. This attack, added to signs of inflation that are appearing in different parts of the economy, means there&rsquo;s a good chance the price of oil keeps moving higher.
Why it&#39;s Important: There&rsquo;s a way that investors can profit from rising oil prices. They can buy ETFs that invest in companies in the oil industry.
These ETFs include the Energy Select Sector SPDR Fund (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/xle#NYSE">XLE</a>), the SPDR S&amp;P Oil &amp; Gas Exploration &amp; Production ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/xop#NYSE">XOP</a>), and the Alerian MLP ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/amlp#NYSE">AMLP</a>).
See Also: <a href="https://www.benzinga.com/news/21/05/21082713/diesel-outages-starting-to-rise-in-southeast-on-back-of-colonial-closure">Diesel Outages Starting To Rise In Southeast On Back Of Colonial Closure</a>
XLE tracks the price and yield of the companies in the S&amp;P 500 Energy Sector. These include companies in the oil, gas, and consumable fuels industries. There are also companies in the energy equipment and services industries.
<img alt="xle.png" src="https://www.benzinga.com/files/u344550/xle.png" style="height:400px; width:640px" />
XOP seeks to track the performance of the S&amp;P Oil &amp; Gas Exploration &amp; Production Select Industry Index. It invests in companies that are in the oil and gas exploration and production industries.
<img alt="xop.png" src="https://www.benzinga.com/files/u344550/xop.png" style="height:400px; width:640px" />
AMLP tracks the Alerian MLP Infrastructure Index. It invests in companies that get a majority of their revenues from the transportation, storage, and processing of energy commodities.
<img alt="amlp.png" src="https://www.benzinga.com/files/u344550/amlp.png" style="height:400px; width:640px" />

Long Ideas

Short Ideas

Technicals

3 ETFs To Play A Potential Energy Crisis

With interest rates low, some income investors may want to revisit high-yield master limited partnerships and the related exchange traded funds, such as the Alerian MLP ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/amlp#NYSE">AMLP</a>).
AMLP certainly makes good on the income front with a dividend yield of 9.24%. However, there is more to the fund&#39;s story. Another reason to consider AMLP is that components in the e <a href="https://www.alerian.com/indices/amzi-index/">Alerian MLP Infrastructure Index</a> (AMZI), the fund&#39;s underlying index, are eliminating incentive distribution rights (IDRs).
In bygone eras of MLP practices, IDRs were used to incentivize the general partner (GP) to boost the limited partner&#39;s distributions &ldquo;by entitling GPs to receive a higher percentage (generally up to 50%) of incremental cash distributions when the distribution to LP unitholders reaches certain thresholds,&rdquo; <a href="https://alerian.wpengine.com/monday-mailbag-how-do-incentive-distribution-rights-work/">according to Alerian</a>.
<h3>Why It&#39;s Important </h3>
Eventually, IDRs ended up becoming a financial burden for MLPs as the rights led to increased cost of capital. In other words, it&#39;s good for investors that AMLP member firms are doing away with IDRs.
&ldquo;Multiple simplification transactions have been announced this quarter. IDR buyouts have been frequent in 2019, with the GPs of <a href="https://www.eqm-midstreampartners.com/">EQM Midstream</a>, <a href="https://www.phillips66partners.com/">Phillips 66 Partners</a>, and <a href="http://www.summitmidstream.com/">Summit Midstream Partners</a>, among others, eliminating their MLPs&rsquo; IDRs earlier this year,&rdquo; <a href="https://www.alerian.com/keeping-it-simple-mlps-continue-to-eliminate-idrs/">Alerian said in a recent note</a>.
EQM and PSXP combine for 8.47% of AMLP&#39;s roster. Noble Midstream Partners LP (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nblx#NYSE">NBLX</a>), a smaller AMLP constituent, eliminated its IDR earlier this quarter. DCP Midstream (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dcp#NYSE">DCP</a>), 3.30% of AMLP&#39;s weight, did the same thing.
<h3>What&#39;s Next</h3>
It&#39;s likely other AMLP components will get in on the IDR elimination game. After all, it makes financial sense for the companies and their investors.
&ldquo;Alongside the benefits of a lower cost of capital for the MLP and improved corporate governance, the IDR transactions themselves have also been mostly attractive to unitholders,&rdquo; notes Alerian.
&ldquo;In the case of NBLX, the acquisition of NBL&rsquo;s midstream assets and IDRs is expected to be ~5% accretive to distributable cash flow (DCF) per unit in 2020, reduces pro-forma leverage, and removes the need for equity financing. Combining the expected IDR payments and 2020 EBITDA from the acquired assets implies a combined transaction multiple of 8x. Along with DCP&rsquo;s IDR elimination, which represented a multiple of 9x to current IDR payments per management, these recent transactions have been attractive relative to multiples upwards of 15x seen in the past.&rdquo;
Related Links:
<a href="https://www.benzinga.com/trading-ideas/long-ideas/19/12/14917105/getting-the-emerging-markets-compensation-you-deserve">The Right Way To Play EM Junk Bonds</a>
<a href="https://www.benzinga.com/trading-ideas/long-ideas/19/12/14917295/an-etf-for-cyber-monday-and-beyond">A Star Among Retail ETFs</a>

NBLX

PSXP

IDR Elimination Could Be A Positive For MLP ETFs

&nbsp;
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<h2>Executive orders aim to foster oil and gas permitting, but Trump&#39;s own trade policies also put kibosh on rapidly growing export markets.</h2>
President Donald Trump&#39;s executive orders to speed up approvals of new oil and gas pipelines is no doubt welcome in an industry long plagued by regulatory delays. But he should look at his own trade policies instead if he really wants to help U.S. energy businesses.
The <a href="https://www.whitehouse.gov/briefings-statements/president-donald-j-trump-paving-way-energy-infrastructure-development/">executive orders</a> signed this week require that two federal agencies review their rules and guidelines for approving new energy development and that sole authority for permitting any new pipelines will be with the President. Both moves aim to override state and local opposition to new oil and gas pipelines.
&quot;When it comes to the future of America&#39;s energy needs, we will find it, we will dream it, and we will build it,&quot; President Trump said of the executive orders.
<blockquote class="twitter-tweet">&quot;You are the men and women who get up every day and make this country run and, frankly, make this country great.&quot; <a href="https://t.co/cDGx7tLvAL">pic.twitter.com/cDGx7tLvAL</a>
&mdash; The White House (@WhiteHouse) <a href="https://twitter.com/WhiteHouse/status/1116108897075585029?ref_src=twsrc%5Etfw">April 10, 2019</a></blockquote>
But many companies have already found it, dreamt it, and are already building it, leaving market reaction to the news nonplussed.
The Alerian MLP Exchange Traded Fund (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/amlp#NYSE">AMLP</a>), which comprises a broad basket of U.S. oil and gas pipelines, was down slightly on the announcement. Commodity markets were also mixed on the news with the price of <a href="https://www.barchart.com/futures/quotes/CLK19/overview">benchmark U.S. oil </a>for May delivery down slightly flat and U.S. <a href="https://www.barchart.com/futures/quotes/INGM19/overview">natural gas prices for June delivery</a> showing small gains.
Local opposition to energy projects that Trump aims to surmount has done little to stop the U.S. from becoming an energy giant. Overall, <a href="https://www.api.org/news-policy-and-issues/news/2019/03/14/oil-production-petroleum-demand-records-february-2019-q1-industry-outlook">U.S. oil and gas production set a new record in February reaching over 12 million barrels per day</a>, according to the <a href="https://www.api.org">American Petroleum Institute</a>.
Moreover, much of that production comes from Texas, where <a href="https://www.cnbc.com/2019/04/10/trump-aims-to-prevent-states-from-blocking-pipelines-infrastructure.html">President Trump signed the bill</a> and which has little aversion to new oil and gas pipelines.
The order could jumpstart some projects. TransCanada&nbsp;may finally get the go-ahead for its Keystone XL Pipeline, which has been waiting for approval from Nebraska&#39;s public utility commission. The U.S. Northeast is also <a href="https://www.dailysignal.com/2019/03/22/consequences-of-cuomos-climate-agenda-hit-close-to-home-his-home/">facing strains due to limits on new pipeline capacity to bring natural gas</a>.
But with America&#39;s oil and gas use flatlining due to increasing energy efficiency, the growth market is overseas, where the U.S. energy industry has made big strides since <a href="https://www.bloomberg.com/news/articles/2015-12-18/house-votes-to-repeal-u-s-oil-export-limits-senate-vote-next">former President Barack Obama signed an executive order in 2015 ending the 40-year old ban on seaborne crude oil exports from the U.S.</a>
Since the signing of that order, U.S. crude oil exports have grown from 560,000 barrels per day, nearly all of which went to Canada, to 2 million barrels per day, with China, South Korea, Taiwan and the United Kingdom among the biggest consumers.
<iframe id="eia_widget" src="//www.eia.gov/opendata/embed/iframe.php?series_id=PET.MCREXUS1.M&amp;wmode=opaque"></iframe>
The only hiccup in that growth was <a href="https://www.freightwaves.com/news/maritime/port-report-us-china-trade-tariff">Trump&#39;s trade fight with China</a>. Once one of the fastest growing customers for U.S. oil, China went to almost zero imports during the second half of 2018 as trade fight picked up steam.
Exports have since picked up again as the <a href="https://www.freightwaves.com/news/todays-pickup-us-china-trade-truce">two sides declared a truce</a>, but &quot;the trade war appears to be limiting the United States&#39; access to crude export markets,&quot; said API Chief Economist Dean Foreman said at the time.
&quot;As we produce more energy here at home, the U.S. needs markets for its products in order for our economy to continue to grow.&quot;
In addition, Trump&#39;s decision to put tariffs on <a href="https://www.pipeline-journal.net/news/president-trumps-tariffs-imported-steel-complicating-us-pipeline-construction">imported steel has also raised costs for U.S. pipeline companies</a>.
Yet, even before Trump&#39;s move, oil and gas companies were readying for more hydrocarbons to reach U.S. Gulf Coast export markets. The <a href="https://epicpipelinelp.com/projects/crude-pipeline/">EPIC Pipeline</a>, Plains All American&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/paa#NYSE">PAA</a>) Cactus II Pipeline, and Phillips 66&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/psx#NYSE">PSX</a>) Gray Oak Pipeline are expected to bring an additional 2 million barrels per day from inland Texas to the Gulf Coast by the latter part of this year.
<h3>Marine insurer warns of Venezuela business</h3>
Rules from Treasury Department heighten risk around oil and other shipping. (<a href="https://maritime-executive.com/article/steamship-mutual-warns-of-pdvsa-sanctions-risks-for-shipowners">Maritime Executive</a>)
<h3>China&#39;s navy tests sea-based laser</h3>
Chinese navy tests weapon said to be similar to a U.S. Navy prototype. (<a href="https://maritime-executive.com/article/china-tests-laser-weapon-similar-to-u-s-navy-prototype">Maritime Executive</a>)
<h3>Singapore still the King in maritime business</h3>
<h3>The Lion City rules the shipping jungle for fourth year in a row. (<a href="https://maritime-executive.com/article/china-tests-laser-weapon-similar-to-u-s-navy-prototype">BunkerWorld</a>) </h3>
<h3>MSC boxship said to be caught in Chinese debt trap</h3>
Shipyard&#39;s failure to pay debt said to have delayed launch of new boxship. (<a href="https://www.tradewindsnews.com/liner/1752139/newly-built-msc-boxship-caught-in-cross-fire-of-hna-sell-off-row">TradeWinds</a>)
Image sourced from Pixabay
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