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ETRACS Alerian MLP Infrastructure Index ETN Series B due Apr 2 2040

MLPB

Market cap $257M

31.38 USD

-0.08

0.25%

At close Updated Sep 4, 12:06 PM EDT

1 day

-0.25%

5 days

0.06%

1 month

3.16%

3 months

5.62%

6 months

7.98%

Year to date

23.06%

1 year

21.86%

5 years

102.98%

10 years

12.72%

News

Positive

Neutral

Negative

Sentiment 3-Months

Positive 71.4%

Neutral 28.6%

Negative 0%

Strong Midstream 2Q26 Earnings Boost Full-Year Outlook

Midstream MLPs and corporations generally posted strong second-quarter earnings, benefiting from record volume throughput, strong margins, and robust demand for natural gas and natural gas liquids (NGL) exports. Companies also demonstrated the defensive nature of their fee-based cash flows.

Strong Midstream 2Q26 Earnings Boost Full-Year Outlook

2Q26 Midstream/MLP Buybacks: Momentum Continues

Quarterly equity repurchases for midstream MLPs and corporations remained healthy in 2Q26, keeping pace with first-quarter levels. Cheniere Energy (LNG) spent $550 million on buybacks, and familiar players also used their authorizations during the quarter.

2Q26 Midstream/MLP Buybacks: Momentum Continues

2Q26 MLP/Midstream Dividends: MLPs Drive Growth

For the second quarter of 2026, sequential dividend growth across the broad Alerian Midstream Energy Index (AMNA) came primarily from MLPs, while most midstream corporations maintained their dividends. On a year-over-year basis, the vast majority of midstream companies have grown their payouts, and growth is expected to continue.

2Q26 MLP/Midstream Dividends: MLPs Drive Growth

Midstream/MLPs Deliver Durable Free Cash Flow

For over five years, Midstream MLPs and corporations have stood out for their robust free cash flow (FCF) generation, supporting reliable dividend growth and share buybacks. In 2026, midstream MLPs continue to generate among the highest FCF yields in the energy sector.

Midstream/MLPs Deliver Durable Free Cash Flow

Macro Tailwinds Power a Strong First Half for Midstream

As we cross the halfway mark of 2026, the energy space has already experienced a dramatic shift in the macro landscape. Supply disruptions in the Middle East turned a looming oil supply glut into a severe shortage with depleted global inventories, benefiting U.S. energy companies across the value chain.

Macro Tailwinds Power a Strong First Half for Midstream

Visualizing Annual MLP Distribution Growth

Reliable distribution growth remains one of the most important tailwinds for midstream MLPs. After all, investors often allocate to this space primarily for its attractive yield and consistent income.

Visualizing Annual MLP Distribution Growth

U.S. Oil Production Outlook & Midstream Implications

Elevated crude prices and a stronger macro backdrop have set expectations for record U.S. oil and gas production next year. Still, large producers have remained disciplined and are so far not materially increasing production.

U.S. Oil Production Outlook & Midstream Implications

1Q26 Midstream/MLP Buybacks: Steady Start to Year

Key Takeaways Six constituents in the broad Alerian Midstream Energy Index (AMNA) spent a combined $818 million on equity repurchases in 1Q26. Cheniere Energy (LNG) continued to dominate repurchase activity for the quarter, spending over $500 million on buybacks in 1Q26, following two consecutive quarters of over $1 billion in repurchases.

1Q26 Midstream/MLP Buybacks: Steady Start to Year

Sizing Up the Next Wave of U.S. LNG Export Projects

A wave of sanctioned projects is set to expand U.S. LNG export capacity by 75% by 2030, driven by new final investment decisions (FIDs) from major players like Cheniere and Venture Global. Beyond current construction, a robust pipeline of U.S. LNG projects shows strong commercial momentum, indicating more FIDs are on the horizon this year.

Sizing Up the Next Wave of U.S. LNG Export Projects

Energy Infrastructure's Fit & Function in Portfolios

Summary Investors typically allocate to MLPs/midstream in an income portfolio, given generous yields and potential diversification benefits. Energy infrastructure can also fit in a real asset sleeve and has typically outperformed in periods of elevated inflation.

Energy Infrastructure's Fit & Function in Portfolios

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