UBS ETRACS Alerian MLP Infrastructure Index ETN Series B

The full company name is UBS AG London Branch - UBS ETRACS Alerian MLP Infrastructure Index ETN.

Alerian MLP ETF

Alerian Energy Infrastructure ETF

Martin Midstream Partners

Summary Five constituents in the broad Alerian Midstream Energy Index (AMNA) spent a combined $1.02 billion on equity repurchases in 2Q24. Over 85% of AMNA by weighting currently have a buyback authorization in place.

Total Midstream/MLPs Repurchases Top $1 Billion in 2Q24

Summary MLPs/midstream are not particularly rate sensitive but could see some benefits as interest rates move lower. With fixed income yields moderating, investors may decide to look to MLPs/midstream for income when making new allocations.

Can MLPs/Midstream Benefit From Lower Interest Rates?

Summary Many interstate liquids pipelines follow the FERC's Oil Pipeline Index, which sets the ceiling for rate adjustments that can be made each July 1. Pipelines tracking the index were able to increase their rates by up to 1.

FERC's Oil Pipeline Index and Rising Pipeline Rates

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NEW YORK--(BUSINESS WIRE)--UBS Investment Bank today announced coupon payments for 11 ETRACS Exchange Traded Notes traded on the NYSE Arca and expected coupon payments for 3 ETRACS Exchange Traded Notes traded on NASDAQ (together, the “ETNs”). NYSE Ticker ETN Name and Prospectus Supplementa Coupon Valuation Date Ex-Date Record Date Payment Date Coupon Amount Payment Schedule Current Yield (annualized) MLPBb ETRACS Alerian MLP Infrastructure Index ETN Series B 7/1/2024 7/15/2024 7/15/2024 7/23/2.

UBS declares coupon payments on 14 ETRACS Exchange Traded Notes

Summary Six constituents in the broad Alerian Midstream Energy Index (AMNA) spent a combined $1.49 billion on equity repurchases in 1Q24. Aggregate buyback spending among midstream/MLPs in 1Q24 was more than double the amount from 4Q23.

Midstream/MLP Buybacks Rebounded in 1Q24

J.P. Morgan Alerian MLP Index ETN

Alerian MLP Index ETNs due January 28 2044

Summary On a year-over-year basis, nearly 95% of the broad Alerian Midstream Energy Index (AMNA) by weighting has grown their dividends. No AMNA constituent has cut its dividend since July 2021.

1Q24 Midstream/MLP Dividends: Growth Story Intact

NEW YORK--(BUSINESS WIRE)--UBS Investment Bank today announced coupon payments for 11 ETRACS Exchange Traded Notes (the “ETNs”), all traded on the NYSE Arca. NYSE Ticker ETN Name and Prospectus Supplement* Coupon Valuation Date Ex- Date Record Date Payment Date Coupon Amount Payment Schedule Current Yield (annualized) MLPB** ETRACS Alerian MLP Infrastructure Index ETN Series B 4/1/2024 4/11/2024 4/12/2024 4/22/2024 $0.3583 Quarterly 5.93% AMNA** ETRACS Alerian Midstream Energy Index ETN 4/1/202.

UBS declares coupon payments on 11 ETRACS Exchange Traded Notes

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The Alerian MLP Infrastructure Index (AMZI) has reached a key milestone, climbing to the highest level on a price appreciation basis since February 2019. AMZI is the underlying index for the Alerian MLP ETF (AMLP) and the ETRACS Alerian MLP Infrastructure Index ETN Series B (MLPB).

Underlying Index for AMLP, MLPB Reaches 5-Year High

InfraCap MLP

Barclays ETN+ Select MLP ETN

United States Oil Fund LP

MLP ETFs have been hovering around a 52-week high level.

MLP ETFs at a 52-Week High: Here's Why

Summary Many midstream companies provide guidance for the year ahead, but a select group also offer EBITDA growth guidance or targets for the next few years. Visibility to future EBITDA growth provides important context for dividend growth.

Beyond 2024: Examining Multi-Year Guidance for Midstream

Summary In a sea of income investment options, MLPs could be easily overlooked despite generous yields and tailwinds from free cash flow generation. Stable cash flows and special tax treatment have allowed MLPs to historically pay generous distributions (dividends).

Why You Should Consider MLPs for Your Income Portfolio

The most-read energy infrastructure research from 2023 tended to include both timely developments and topics with perennial attraction like natural gas. Today's note discusses the topics and pieces from 2023 that were of the greatest interest to our investor audience.

Top 4 Energy Infrastructure Research Themes in 2023

Summary Midstream's improved balance sheets and lower leverage ratios have been one of the benefits of excess cash flow.  Constituents of the Alerian Midstream Energy Select Index (AMEI) and the Alerian MLP Infrastructure Index (AMZI) have target leverage ratios between 2.5x and 5x.

Midstream/MLPs Raising the Bar With Lower Leverage

Summary Strong dividend growth trends for energy infrastructure companies continued in 3Q23, underpinning the healthy yields offered by midstream/MLPs. On a year-over-year basis, over 91% of the broad Alerian Midstream Energy Index (AMNA) by weighting grew their dividends.

3Q23 Midstream Dividend Recap: MLPs Bring the Growth

A handful of midstream names have already announced increases to their dividends. The midstream segment is known for offering generous income, making it a primary reason many advisors use MLPs and energy infrastructure companies in portfolios.

Several Midstream Companies Grow Q3 Dividends

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Hiya VettaFi Voices! On Friday we're hosting the Income Strategy Symposium, so keeping in the spirit of that event, I wanted to know: Where you see the best places to find income in the markets today?

VettaFi Voices On: Finding Income

Invesco CEF Income Composite ETF

Summary Higher interest rates have challenged many income investment categories this year, but yield will likely remain appealing to investors given broader market uncertainty. Among income investments, MLPs stand out for both generous yields relative to bonds and noticeable outperformance relative to the S&P 500 year-to-date.

MLPs Stand Out as Rising Rates Challenge Income Plays

On this episode of “What Makes That Ticker Tick,” VettaFi CMO Jon Fee spoke with Stacey Morris, head of Energy Research at VettaFi, to discuss the Alerian MLP Infrastructure Index (AMZI). The AMZI Index is the underlying index that currently powers two funds.

READ: What Makes That Ticker Tick: Stacey Morris and AMZI

What Makes That Ticker Tick: Stacey Morris and AMZI

Summary Significant free cash flow generation across midstream has helped support dividend growth. Midstream/MLP dividend growth has been healthy over the last year and has significantly outpaced inflation for most names.

Examining Midstream/MLP Dividend Growth by Company

The Alerian MLP Infrastructure Index (AMZI) hit a key milestone earlier this week, reaching the highest level on a price appreciation basis since September 2019. AMZI is the underlying index for the Alerian MLP ETF (AMLP) and the ETRACS Alerian MLP Infrastructure Index ETN Series B (MLPB).

AMLP Underlying Index Reaches 4-Year High

Summary Since late June, U.S. benchmark oil prices have increased by roughly $20 per barrel thanks to solid demand and incremental supply cuts from Saudi Arabia and Russia. Oil's rally has made energy the best-performing sector over the last three months, but energy stock performance is still lagging the move in oil prices.

Energy Rallies With Oil – Is More in the Tank?

Summary After years of hefty spending to facilitate tremendous US energy production growth, midstream companies are reaping cash flows from past projects and spending a lot less, leading to excess cash.

Midstream Sees Strong Free Cash Flow Generation in 2023

Summary Utilities and midstream can provide similar portfolio benefits and may be found together in the income or real asset sleeves of portfolios. A long-term correlation between utilities and midstream/MLPs is relatively low at around 0.3, highlighting important differences between these investments.

Midstream/MLPs vs. Utilities: Key Investment Differences

Summary Nine constituents in the broad Alerian Midstream Energy Index (AMNA) spent a combined $1.1 billion on equity repurchases in 2Q23. Corporations were more active with buybacks this quarter than MLPs, with some companies prioritizing other uses of capital over equity repurchases.

News for UBS ETRACS Alerian MLP Infrastructure Index ETN Series B Stock (MLPB)