Table of Contents
Investment Perspective Page 2
Feature: 2Q MLP Earnings & Distribution Recap Page 3
MLP Filings Analysis & Industry News Page 4
Coverage Universe: Ratings & Investment Theses Page 5
Equity Market Overview Page 6
MLP Equity Drivers Page 9
Valuation & Comparables Page 10
Consensus EPU/DPS Revisions and Short Interest Ratios Page 14
Estimates and Consensus Data Page 15
Coverage Universe Yield Spreads Page 17
Natural Gas Markets Page 22
Crude Oil Markets Page 25
Economic Indicators & Forecasts Page 27
Valuation Methodology & Risks Page 28
Glossary of MLP Terms Page 29