Ethan Bellamy

EnLink Midstream LLC (NYSE: ENLC) announced Monday ahead of the market open an agreement for buying all outstanding common units of EnLink Midstream Partners LP (NYSE: ENLK) in a bid to simplify its corporate structure. The Analysts The sell-side was broadly optimistic on the announcement....

Baird downgraded the units of Plains All American Pipeline, L.P. (NYSE: PAA) and Plains GP Holdings LP (NYSE: PAGP). The firm premised its stance on the potential evaporation of $400 million in annual EBITDA in 2018 from the previously normalized level of $500 million, implied by the preliminary...

Energy Transfer Partners LP (NYSE: ETP)'s proposed transaction in which it will acquire the remaining outstanding LP common units of Penntex Midstream Partners LP (NASDAQ: PTXP) is expected to close, at least according to Baird's Ethan Bellamy. As noted by Bellamy, Energy Transfer Partners already...

Baird believes the Dakota Access Pipe Line, or DAPL, denial to be short-lived and, accordingly, recommended buying on any incremental weakness. This follows announcement by the U.S. Army Corps. of Engineers stating that it would not grant easement to cross Lake Oahe, the final permit required...

Baird has downgraded Sunoco LP (NYSE: SUN) to Neutral as it waits for the improvement in leverage and volumes. The brokerage now model leverage of 6.3x to 6.4x in the second half of 2017, above the post-M&A covenant of 6.0x and said much tighter leverage threatens meaningful distribution growth...

Baird Equity Research believes Sunoco LP (NYSE: SUN)'s new acquisition of Transmix for $179 million could be a good deal. The brokerage said that although it looked like the transaction was pricey, a deeper analysis suggested the deal is positive based on the execution of 7xEBITDA multiple. The...

The following represents a hand-picked selection of notable research curated by an analyst known in some circles as "The Sith Overlord Of The Street." Pacific Crest: It's ‘OK' Apple iPhone Units Might Decline Next Year Andy Hargreaves of Pacific Crest believes that Apple Inc. (NASDAQ: AAPL) will...

In a report published Tuesday, Baird analyst Ethan Bellamy turned cautious on the Master Limited Partnership sector by downgrading a gas gatherer, a diversified crude logistics provider, and an NGL producer -- all of which "suffered in unique ways" from falling oil prices and "deteriorating"...