Midstream MLPs Quietly Pickup Steam On Wall Street

With election uncertainty and the Dow’s flirtations with 20,000 points getting the lion’s share of media attention in the second half of this year, leading Wall Street money managers have been quietly getting back into MLPs since the summer. A September note by Morgan Stanley mentioned they “recently added to MLPs on the pullback in oil prices.” This was followed by a Neuberger Berman note that said “MLPs still have the potential to provide decent value for income- or yield-seeking investors relative to bonds and other alternative yield sources from the equity markets such as high-yielding stocks.” Amid the hunt for yield before today’s Fed rate increase, these perspectives look prescient ahead of OPEC’s recent announcement of planned production...