ALPS | Alerian Energy Infrastructure Portfolio Class III (ALEFX)
NASDAQ NASDAQ Primary 
The North American Midstream Universe in a Chart
Today's article updates one of our most popular charts, which shows the makeup of the North American midstream universe by market cap with total company count. While the universe has changed significantly since 2013, company count has seemingly stabilized in recent years.
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.
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.
Pembina Advances Project, Highlighting Canadian Midstream Strength
There are noteworthy updates coming out of Canada for energy infrastructure investors. Pembina Pipeline Corp (PPL CN) recently reached a positive final investment decision (FID) on its Greenlight Electricity Centre, a C$4.6 billion ($3.2 billion USD) natural gas power plant in Sturgeon County, Alberta.
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.
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.
FERC's Oil Pipeline Index and Rising Pipeline 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.
