Posts for Ticker ‘EDP’

New ETN to Track MLPs (JPM, ALJ, KMP, EPD, PAA)

oil

JPMorgan Chase & Co. (NYSE:JPM) has created a new exchange traded note based on “the portfolio of midstream energy [MLPs] underlying the Alerian MLP Index.” The new structured investment is called the JPMorgan Alerian MLP Index ETN (NYSE:AMJ).

The three largest components of the Alerian MLP Index include Kinder Morgan Energy Partners LP (NYSE:KMP) at 12.75%, Enterprise Products Partners LP (NYSE:EPD) at 10.79%, and Plains All American Pipeline LP (NYSE:PAA) at 6.67%.

The shares opened on May 4th at $21.8046 and closed at $21.85.

Paul Ausick

Posted on: May 5, 2009 – 8:12 am in Old Media, , , , ,

Pipeline Partnerships Face Credit Crunch (EPB, EPD, KMP)

Tx00338coilwellgusherodessatexasposWe’ve noted before that pipeline master limited partnerships must grow if they are to attract investors. For nearly all MLPs, that means access to credit at low interest rates. Does that sound like today’s credit market?

Rigzone.com carried a Dow Jones Newswires story that tight credidt is making it difficult to raise money for new pipeline construction or acquisitions. Even though natural gas prices are low, volumes flowing through the pipelines remain high. That means that revenues to the pipeline companies remains high or even increases because MLP revenue is not tied to the commodity price.

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Posted on: December 31, 2008 – 3:08 pm in Oil & Gas, , ,