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"Energy XXI is always looking at acquisitions and optimizing the drilling program. With the share buyback, the company is showing it recognizes the value of cash flow." (6/4/13) Energy XXI - The Energy Report Interview with Andrew Coleman More >
"Uranium producers like EFR are going to start popping up on people's radar screens." (5/23/13) Energy Fuels Inc. - The Energy Report Interview with Matt Badiali More >
"The conservative uranium bet is to go with companies making money at current prices. That's FCU." (5/23/13) Fission Uranium Corp. - The Energy Report Interview with Matt Badiali More >
"CHK is active in the Marcellus sweet spot in northwestern West Virginia." (5/16/13) Chesapeake Energy Corp. - The Energy Report Interview with Josh Young More >
"FCU is on to the most exciting uranium discovery to come around in quite a while." (5/14/13) Fission Uranium Corp. - The Metals Report Interview with Brent Cook More >
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Companies Commented On
- El Paso Corporation
- Enbridge Energy Partners L.P.
- Energy Transfer Equity L.P.
- Energy Transfer Partners L.P.
- Regency Energy Partners, L.P.
- Targa Resources Partners, L.P.
- Teekay LNG Partners L.P.
- Williams Partners L.P.
Stephen Maresca
Stephen Maresca is a managing director of Morgan Stanley covering energy Master Limited Partnerships (MLPs) and diversified natural gas companies. Prior to joining Morgan Stanley in 2008, Maresca spent 10 years at UBS focused largely on the energy sector. From 2001 to 2008 he was a director in UBS' equity research division covering energy MLPs. From 1998 to 2001 he was an associate director in UBS' investment banking energy group and from 1997 to 1998 he was in PaineWebber's fixed income department. Maresca holds a Bachelor of Science degree in accounting from Providence College and the Chartered Financial Analyst designation. He is a member of the New York Society of Security Analysts.
Recent Interviews
Play US Energy Independence with Income-Generating MLPs: Stephen Maresca (7/26/12) Fossil fuels have to be transported and stored. This is the classic midstream industry that resides between the producers and the marketers and that generally makes money regardless of the price of oil, natural gas or natural gas liquids (NGLs). Now, with the boom in production coming from unconventional oil and gas shales and the enhanced technologies that produce fuels in areas where it was once impossible, the demand for midstream oil and gas infrastructure is growing. In this exclusive interview with The Energy Report, Morgan Stanley Managing Director and Master Limited Partnership (MLP) Analyst Stephen Marsesca makes his case for a handful of MLP and common stocks that will generate increasing cash flow and dividend payouts.
Stephen Maresca: Are Midstream MLPs Going Mainstream? (7/7/11) Judging from fund flows into some of the Master Limited Partnerships (MLPs) he tracks, investors apparently agree with Stephen Maresca, Morgan Stanley's MLP expert, that the midstream sector of the oil and gas industry has gone mainstream. As Stephen tells The Energy Report in this exclusive interview, investors want exposure to the income, yield and total return that the MLPs provide, and they're finding growing revenues and growing free cash flow per share in operators with good management teams, strong balance sheets and assets in growing supply areas that are connected to good market sources for demand. "It's a good time to be involved in midstream plays," he says.
Recent Quotes
"Two large-scale opportunities on ETP's Trunkline system could offer significant upside and have yet to be priced into its stock." (6/11/13) Energy Transfer Partners L.P. - Stephen Maresca, Morgan Stanley More >
"ETE is one of the few stocks in our universe that offers some revaluation and new project upside not appreciated by investors." (6/11/13) Energy Transfer Equity L.P. - Stephen Maresca, Morgan Stanley More >
"We see upside to ETP shares and think a distribution increase is coming in H2/13." (3/21/13) Energy Transfer Partners L.P. - Stephen Maresca, Morgan Stanley More >
"We reiterate our Overweight rating for ETE and raise our target price." (3/21/13) Energy Transfer Equity L.P. - Stephen Maresca, Morgan Stanley More >
"Sunoco is a game changer for ETP." (2/21/13) Energy Transfer Partners L.P. - Stephen Maresca, Morgan Stanley More >
"ETE has strong growth potential given organic project and consolidation opportunities." (2/21/13) Energy Transfer Equity L.P. - Stephen Maresca, Morgan Stanley More >
"ETP is worth owning in the near term." (11/15/12) Energy Transfer Partners L.P. - Stephen Maresca, Morgan Stanley More >
"EEP can reach the higher end of its annual distribution growth target." (10/31/11) Enbridge Energy Partners L.P. - Stephen Maresca, Morgan Stanley More >
Notable Quotes
"URZ is fully permitted, has offtake agreements in place and should be receiving a $20M loan." (6/13/13) Uranerz Energy Corp. - The Energy Report Interview with Chris Berry More >
"EFR signed a letter of intent to acquire Strathmore Minerals." (6/13/13) Energy Fuels Inc. - The Energy Report Interview with Chris Berry More >
"EUU has a high-grade resource and an ideal location." (6/13/13) European Uranium Resources Ltd. - The Energy Report Interview with Chris Berry More >
"The location of STM's deposits and its relationships with Sumitomo and KEPCO make it an ideal take-out candidate." (6/13/13) Strathmore Minerals Corp. - The Energy Report Interview with Chris Berry More >
"I am looking at global integrated players such as RDS; it is big and pays nice dividends." (6/11/13) Royal Dutch Shell Plc - The Energy Report Interview with Byron King More >