CIBC Private Wealth Management Blog
Paul McPheeters, CFA
Investments

FERC Final Ruling - Incrementally Positive for MLPs

Paul McPheeters, CFA
July 23, 2018

Download PDF   On July 19th, the Federal Energy Regulatory Commission (FERC) issued a final ruling as a follow-up to its announcement on March 15th that had caused significant weakness across the MLP sector. The final ruling was a positive development for the sector as we detail below.  To help understand the incremental improvement in the final ruling, it’s important to...
Investments

FERC Ruling Impacts MLPs

Paul M. McPheeters, CFA
March 16, 2018

Download PDF   The MLP and broader pipeline sector was negatively impacted yesterday by actions at the Federal Energy Regulatory Commission (FERC). We will learn much more in coming days and weeks on the issue, but we wanted to provide a general summary of what was announced and the implications. As a backdrop, FERC regulates Interstate pipelines (those that cross state lines) and...
Uncategorized

OPEC Meeting in Vienna—Incremental Positive

Paul M. McPheeters CFA
December 01, 2016

  The OPEC meeting this week ended in Vienna with a formal agreement similar to their announced plans two months prior. The headline is clearly positive in that this action accelerates the rebalancing process that was already underway. We would still argue however that this announcement should be viewed as a production freeze and not a production cut as we expect actual production to...
Uncategorized

Election Impact on the MLP Sector

Paul M. McPheeters CFA
November 09, 2016

  The following represents our team’s views based on what we believe the likely implications will be from the election.     Overall, we view this election as a significant positive for the MLP Sector with the primary driver being less expected regulation , which should provide two benefits:             ...
Investments

OPEC Meeting in Algiers—Small Positive—No Change in Forecasts

Paul M. McPheeters CFA
September 30, 2016

  The OPEC meeting this week ended in Algiers with news that members had reached a tentative agreement to cut production, a decision that would be formalized at the November 30 meeting. The headline is clearly positive; however, we would argue that this announcement should be viewed as a potential production freeze and not a production cut.       ...