About this website

The website explains how distributable cash flow (DCF) is defined and why it is important to analyze it and derive a sustainable measure of DCF. Results reported by master limited partnerships (MLPs) are analyzed. comparisons of reported DCF to sustainable DCF are generated, and various coverage ratios and reports analyzing performance are generated. Simplified sources and uses of funds statements are presented to focus readers' attention on key cash flow items. The website also features general articles about MLPs and about other topics of interest to yield-focused investors.

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Disclaimer

The documents and opinions in this website are for informational and educational purposes only and should not be construed as a recommendation to buy or sell the securities mentioned or to solicit transactions or clients. The information in this website is believed, but not guaranteed, to be accurate. All content on this website is presented as of the date published, is not updated and may be superseded by subsequent market events or for other reasons Under no circumstances should a person act upon the information contained within without first conducting his/her own independent research and consulting with his/her investment advisor and tax professional as to whether such action is suitable based on the investor’s investment objectives, personal and financial situation, and specific legal or tax situation.

ETP - Is Energy Transfer Partners about to increase distributions?

Author: Ron Hiram

Published: July 17, 2013

Energy Transfer Partners, L.P. (ETP) will report results of operations for 2Q 2013 around August 8, 2013. Cash distribution for 2Q13 will probably be announced around July 24. Distributions have not increased since the second quarter of 2008. This article focuses on whether this is likely to […]

RGP - In anticipation of Regency Energy Partners’ 2Q 2013 results

Author: Ron Hiram

Published: July 14, 2013

 Regency Energy Partners LP (RGP) will report results of operations for 2Q 2013 around August 8, 2013. This article focuses on some of the developments investors should be watching for.

2Q13 will include 2 months of contributions from RGP’s acquisition of Southern Union Gathering Company, LLC, the […]

NGLS - In anticipation of Targa Resources Partners’ 2Q 2013 results

Author: Ron Hiram

Published: July 10, 2013

Targa Resources Partners LP (NGLS) will report results of operations for 2Q 2013 before the NYSE opens for trading on Thursday, August 1, 2013. A conference call for investors and analysts will take place that day at 10:00 a.m. Eastern Time. This article focuses on some of […]

MMP: A Closer Look at Magellan Midstream Partners' Distributable Cash Flow as of 1Q 2013

 

Author: Ron Hiram

Published: June 9, 2013

This article analyzes the most recent quarterly and the trailing twelve months (“TTM”) results of Magellan Midstream Partners, L.P. (MMP) and looks “under the hood” to properly ascertain sustainability of Distributable Cash Flow (“DCF”). The task is not easy because the definitions of DCF and “Adjusted […]

KMP: A Closer Look at Kinder Morgan Energy Partners’ Distributable Cash Flow as of 1Q 13

 Author: Ron Hiram

Published: June 2, 2013

This article analyzes the most recent quarterly and the trailing twelve months (“TTM”) results of Kinder Morgan Energy Partners LP (KMP) and looks “under the hood” to properly ascertain sustainability of Distributable Cash Flow (“DCF”). The task is not easy because the definitions of DCF and “Adjusted EBITDA”, […]