Key Takeaways The Alerian MLP Index is down 2.5% in 2025, underperforming energy peers and broader markets.Volume growth, contract resets and delayed project earnings have weighed on MLP valuations.EPD, ET and PAA stand out with scale, diversification and tailwinds expected to lift results in 2026.Master limited partnerships (or MLPs) have clearly trailed the broader market in 2025. While the Energy Select Sector SPDR, a popular way to track oil/energy companies, has gained about 3.2% year to date, the benc ...

Group 1 - Plains All American Pipeline (PAA) has been a favored MLP pick, with increased exposure taken in May of this year [1] - The analyst has a beneficial long position in PAA, EPD, and WES through various financial instruments [2] - The article expresses personal opinions and does not involve compensation from companies mentioned [2] Group 2 - The analyst has over a decade of experience in financial management, focusing on corporate financial strategies and large-scale financings [1] - Significant efforts have been made to institutionalize the REIT framework in Latvia to enhance liquidity in pan-Baltic capital markets [1] - The analyst is involved in policy-level work, including developing national SOE financing guidelines and frameworks for private capital in affordable housing [1]

The Alerian MLP ETF (NYSEARCA:AMLP) offers retirees an 8.75% dividend yield by investing in master limited partnerships that own energy infrastructure assets like pipelines, storage facilities, and processing plants. ...

Group 1 - Maui Land & Pineapple Company, Inc. (MLP) is showing improvement in commercial occupancy and continues to deliver residential homes [2] - The Valkyrie Trading Society is a team of analysts focused on high conviction and obscure developed market ideas, aiming for non-correlated and outsized returns in the current economic environment [2] - The Value Lab offers a portfolio with real-time updates, 24/7 chat support, regular global market news reports, and feedback on member stock ideas [2]

If you thought our angle on this company was interesting, you may want to check out our idea room, The Value Lab . We focus on long-only value ideas of interest to us, where we try to find international mispriced equities and target a portfolio yield of about 4% . We've done really well for ourselves over the last 5 years, but it took getting our hands dirty in international markets. If you are a value-investor, serious about protecting your wealth, our gang could help broaden your horizons and give some in ...

West Vancouver, British Columbia--(Newsfile Corp. - December 16, 2025) - Millennial Potash Corp. (TSXV: MLP) (OTCQB: MLPNF) (FSE: X0D) ("MLP", "Millennial" or the "Company") announce that the Quaternary Group Ltd. (the "Acquiror") and the Company as required by National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues and is issued in connection with the acquisition below of ownership of securities of the Company by The Quaternary Group Ltd. (the "Acquiror ...

Core Points - Millennial Potash Corp. has initiated its Environmental & Social Impact Assessment (ESIA) for the Banio Potash Project in Gabon, engaging a consortium led by Artelia to ensure compliance with IFC performance standards [1][2] - The ESIA will include comprehensive baseline studies on the physical environment, biodiversity, and socio-economic conditions, with completion expected in 2026 [2] - The ESIA will be a critical component of the mining license application anticipated for 2026, following a successful Stage 2 drill program that increased the resource estimates [2] Company Developments - The company is fully funded to carry out the ESIA and plans to initiate a definitive feasibility study in the coming weeks, with US DFC funding allocated for feasibility study costs [2] - A total of 980,000 incentive stock options have been granted, exercisable for five years at an exercise price of $3.22 per share [3]

Core Viewpoint - Energy Transfer is a popular energy stock due to its high yield of over 8%, significantly higher than the S&P 500's yield of 1.2% [1] Group 1: Company Structure and Tax Advantages - Energy Transfer operates as a master limited partnership (MLP), combining tax advantages of limited partnerships with the liquidity of publicly traded companies [2] - MLPs do not pay federal income taxes; instead, they pass through gains and losses to investors, who report them on personal tax returns, complicating tax filings with the use of Schedule K-1 forms [3] Group 2: Financial Performance and Metrics - Energy Transfer has a market capitalization of $57 billion, with a current price of $16.49 and a dividend yield of 7.97% [4][5] - The company generated $6.1 billion of distributable cash flow in the first nine months of 2025, covering its distribution level by 1.8 times [7] - Energy Transfer's leverage ratio is at the low end of its target range of 4.0-4.5 times, indicating strong financial health [8] Group 3: Growth and Expansion Plans - The company plans to fund $4.6 billion in organic expansion projects in 2025 and an additional $5 billion in 2026, with projects expected to enter commercial service through the end of the decade [8] - Energy Transfer aims to increase its quarterly distribution payment by 3% to 5% per year, supported by its growing distributable cash flow [8] Group 4: Investment Appeal - Energy Transfer offers a high-yield distribution backed by a solid financial profile, making it an attractive option for investors seeking tax-advantaged income [9]

Core Viewpoint - Maui Land & Pineapple Company, Inc. (MLP) has experienced a significant decline in share price, dropping 36.6% since the third-quarter 2025 results were reported, which is notably worse than the S&P 500 Index's 2.3% decrease, indicating investor concerns despite operational improvements [1] Financial Performance - In Q3 2025, MLP reported total operating revenue of $4.5 million, an increase from $3 million year-over-year, primarily driven by higher leasing revenue and land development activity [2] - The company achieved a net income of $0.2 million, a significant recovery from a net loss of $2.2 million in the same quarter last year, with earnings per share rising to 1 cent from a loss of 11 cents [2] - Leasing revenue increased to $3.5 million from $2.7 million, while land development and sales contributed $0.8 million compared to no revenue in the prior-year quarter [2] - Operating costs decreased to $4.9 million from $5.3 million, attributed to lower share-based compensation despite higher leasing-related costs [2] Key Business Metrics - For the nine months ended September 30, 2025, operating revenue rose 83.1% to $14.9 million from $8.2 million, driven by leasing, land development sales, and reimbursements from the State of Hawai'i's Relief Housing Project [3] - Leasing revenue grew to $9.9 million from $7.1 million, supported by tenant additions and higher occupancy [3] - Land development and sales revenue surged to $4.2 million from $0.2 million, reflecting parcel sales and progress on the Honokeana Homes project [3] Operating Loss and Adjusted EBITDA - Operating loss narrowed significantly to $2.8 million from $5.5 million in the prior-year period, while adjusted EBITDA turned positive at $1.6 million compared to a slight loss a year earlier [4] - However, the company recorded a GAAP net loss of $9.4 million, widening from a $5.5 million loss last year, primarily due to $6.9 million in pension-related expenses [4] Cash Position - Total cash and investments convertible to cash declined to $5 million from $9.5 million at year-end 2024, reflecting pension contributions, development costs, and capital expenditures [5] Management Commentary - Management highlighted strong leasing momentum with a 39% year-over-year increase in recurring leasing revenue and improved occupancy across commercial properties [6] - The company is focusing on stabilizing recurring income while unlocking value from non-strategic parcels and has terminated its qualified pension plan, fulfilling a significant legacy obligation [7] Influencing Factors - Results for the nine months ended September 30, 2025, were significantly impacted by the State of Hawai'i's Relief Housing Project, contributing $3.4 million in reimbursed development costs [8] - Increased tenant activity, higher water system revenues, and improved occupancy across various properties positively influenced leasing [8] Cost Dynamics - Leasing-related expenses rose due to increased occupancy, property management fees, and tenant improvement work [10] Future Outlook - Management expects continued growth in leasing income as occupancy stabilizes and origination costs decline, with plans to monetize remnant parcels over the next one to three years [12] Other Developments - MLP advanced its agave farming venture and initiated planting across 25 acres, while also continuing the Honokeana Homes project on a cost-recovery basis [13] - The company disclosed several legal matters, including lawsuits related to irrigation water access, though financial impacts remain undetermined [13] Overall Assessment - While MLP demonstrated operational improvements in leasing and land development, cash outflows and pension-related charges negatively impacted reported earnings, leading to a muted market reaction [14]

Revenue and Income - Recurring leasing revenue increased by 39% year-over-year, with a total of $9.9 million in the leasing segment for the nine months ended September 30, 2025, compared to $7.1 million in the same period in 2024[5] - Operating revenues rose by 83.1% to $14.9 million for the nine months ended September 30, 2025, up from $8.2 million in the same period in 2024[5] - Adjusted EBITDA improved by $1.7 million, reaching $1.6 million for the nine months ended September 30, 2025, compared to a loss of $0.1 million in the same period in 2024[5] - The land development and sales segment's net operating income increased by 203.9%, achieving $0.5 million compared to a loss of $0.5 million for the nine months ended September 30, 2024[5] - The leasing segment's net operating income improved by 21.5%, totaling $4.5 million compared to $3.7 million for the nine months ended September 30, 2024[5] Cash and Assets - Cash and Investments Convertible to Cash decreased to $5.0 million as of September 30, 2025, down from $9.5 million at December 31, 2024[6] - Total assets decreased from $50,139,000 on December 31, 2024, to $45,839,000 on September 30, 2025, representing a decline of approximately 8.6%[17] - Current assets fell from $15,127,000 to $10,121,000, a decrease of about 33.1%[17] - Cash and cash equivalents decreased from $6,835,000 on December 31, 2024, to $4,926,000 on September 30, 2025, a reduction of about 28.0%[19] - Investments decreased from $2,687,000 to $120,000, a decline of approximately 95.5%[19] Losses and Liabilities - GAAP net loss increased to $9.4 million, or $0.48 per share, for the nine months ended September 30, 2025, compared to a net loss of $5.5 million, or $0.28 per share, for the same period in 2024[6] - Net loss for the nine months ended September 30, 2025, was $9,399,000, compared to a net loss of $5,484,000 for the same period in 2024, indicating an increase in losses of approximately 71.5%[19] - Total current liabilities decreased from $11,197,000 to $7,347,000, a decline of approximately 34.5%[17] - Long-term liabilities decreased from $5,761,000 to $4,770,000, a reduction of approximately 17.2%[17] - The company reported a pension and other post-retirement expense of $6,914,000 for the nine months ended September 30, 2025, compared to $234,000 in the same period of 2024, indicating a significant increase[19] Business Developments - The company launched a new agriculture venture, planting 15,000 blue weber agave plants on 25 acres of underutilized croplands in Upcountry, Maui[5] - The company fulfilled its largest remaining legacy obligation by funding and terminating the qualified pension at an expense of $6.9 million[5] - The company is currently marketing five additional land parcels for sale to enhance liquidity and support ongoing development projects[5] Stockholders' Equity - Total stockholders' equity increased slightly from $33,181,000 to $33,722,000, an increase of about 1.6%[17]