Pipeline and midstream energy stocks have had a strong start to 2024. This can been seen in the performance of major sector exchange-traded funds (ETFs) such as the Alerian Energy Infrastructure ETF (NYSEMKT: ENFR), up about 18% year to date, and the Alerian MLP ETF (NYSEMKT: AMLP), up nearly 17%. The latter only includes the […]
Energy Transfer has agreed to acquire WTG Midstream in a deal worth approximately $3.25bn from affiliates of Stonepeak, the Davis Estate and Diamondback Energy. The deal consideration includes a cash payment of $2.45bn and the issuance of around 50.8 million Energy Transfer new common units to the sellers. Diamondback Energy, which currently owns a 25% […]
Income-oriented investors tend to like midstream master limited partnerships (MLPs) for their high yields and increasing distributions. However, it isn’t often that an MLP raises its distribution by 50% or more. That’s just what Western Midstream (NYSE: WES) did last month when it took its quarterly distribution from $0.575 per unit to $0.875. That’s a […]
Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) is probably best known for its insurance operations, which are where a lot of the individual stocks that company owns reside. But it is really a massive and diversified conglomerate. One area in which CEO Warren Buffett has invested quite heavily is energy, with a specific focus on pipelines. […]
By David French and Anirban Sen (Reuters) – Occidental Petroleum is exploring a sale of Western Midstream Partners, a U.S. natural gas-focused pipeline operator that has a market value of more than $18 billion, including debt, according to people familiar with the matter. The divestment would help Occidental, which is backed by Warren Buffett’s Berkshire […]