MLP Research

Yorkville is a pioneer in researching and investing in Master Limited Partnerships (MLPs). Our team has been successfully investing in MLPs since the early 1990s - virtually the inception of the asset class. Yorkville research leverages our extensive knowledge base on the Master Limited Partnership (MLP) asset class. Our MLP newsletters, investment scores, and in-depth whitepapers, allow investors to tap into and benefit from Yorkville's deep domain expertise in MLPs. Yorkville is the leading source for timely and insightful research on MLPs.

The Oil Market: Coming Into Balance

 

U.S. oil inventory levels have dropped by over 24 million barrels since the beginning of April - better than historical averages. OPEC has delivered on 1.2 million barrels per day of production cuts and compliance is running above 100%. The one wild card - U.S. production - has been flat over the past five weeks. As a result, Yorkville believes oil prices and energy equities may move higher.

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A Complete Study of the Historical Relationship Between Interest Rate Cycles and MLP Returns

 

There is a widely held belief that MLPs are negatively impacted by increases in interest rates. In order to provide investors with an objective perspective on the relationship between MLPs and interest rates, Yorkville analyzes has analyzed MLPs’ sensitivity to interest rates during every rising interest rate environment and Federal Reserve tightening cycle since 1992. This study provides a comprehensive and in-depth look at yield movements, MLP returns, and correlations during interest rate shocks.

Stability Score

For the quarter, the Yorkville Distribution Stability Score came in at 8.3. This means 83% of all MLPs either maintained or grew their distributions versus last year. This figure excludes variable distribution MLPs and any other MLP that cut its distribution for non-operating reasons.

3rd Quarter 2016

8.3
 

Growth Score

The Yorkville Intrinsic Distribution Growth Rate measures average year-over-year distribution growth adjusted for seasonality, variable distributions, and distribution cuts for non-operating reasons. The Yorkville Intrinsic Distribution Growth Rate was 0.4% for the quarter.

3rd Quarter 2016

0.4%