Stephen Ellis | Morningstar

Morningstar

More From Stephen Ellis

Plains Earnings: Stronger Permian Performance Leads to Modest Uptick in 2023 Outlook

Stephen Ellis Aug 4, 2023

Enterprise Earnings: Second Half of 2023 Shaping Up To Be Better Than First

Stephen Ellis Aug 3, 2023

Energy Transfer Earnings: Growth Remains Front and Center While Lake Charles LNG Is Stalled

Volume growth across the company’s portfolio was more than offset by weaker gas prices.

Stephen Ellis Aug 3, 2023

Equitrans Earnings: The Mountain Valley Pipeline Resumes Construction

Stephen Ellis Aug 2, 2023

MPLX Earnings: Ongoing Volume Growth Offsets Lower Natural Gas Liquids Pricing

Stephen Ellis Aug 2, 2023

Chart Industries Earnings: Firm Already Exceeding Expectations With Ownership of Howden

Stephen Ellis Aug 1, 2023

TC Energy Earnings: CAD 3 Billion in New Asset Sales Are on Deck, Plus Optimization Opportunities

Stephen Ellis Aug 1, 2023

TC Energy Earnings: CAD 3 Billion in New Asset Sales Are on Deck, Plus Optimization Opportunities

Stephen Ellis Jul 31, 2023

Equitrans: The U.S. Supreme Court Concludes MVP’s Shakespearean Epic; Et Tu, Fourth Circuit?

Stephen Ellis Jul 28, 2023

TC Energy: CAD 5.2 Billion Joint Venture With GIP for Columbia Assets Looks Solid

Stephen Ellis Jul 24, 2023

Kinder Morgan Earnings: 2023 Forecast Trimmed Due to Lower Oil and Gas Prices

Results solid enough to maintain $17.50 fair value estimate for Kinder Morgan stock.

Stephen Ellis Jul 20, 2023

Trans Mountain Pipeline Expansion Likely To Cost the Canadian Government Billions of Dollars

Stephen Ellis Jul 18, 2023

Equitrans: Appeals Court Again Blocks Mountain Valley Pipeline Project

Stephen Ellis Jul 11, 2023

Chart Industries Is Moving Fast With Howden Under Its Umbrella

Stephen Ellis Jun 12, 2023

Equitrans: The Path Forward Is Now Clear for the Mountain Valley Pipeline

Stephen Ellis Jun 7, 2023

OPEC+ Defends Oil Prices With New Production Cut While Consolidating Influence Around the Saudis

Stephen Ellis Jun 6, 2023

Equitrans: In Debt Limit Deal, the Mountain Valley Pipeline Emerges as a Winner

Stephen Ellis May 30, 2023

Canadian Wildfires Introduce Downside Risks for Canadian Midstream in Q2

Stephen Ellis May 18, 2023

Adding Magellan Is a Solid Transaction for Oneok Despite Investor Concerns

Stephen Ellis May 18, 2023

Magellan Unitholders Should Be Happy With Premium, While Oneok Adds Wide-Moat Assets

Stephen Ellis May 18, 2023

Keyera Earnings: KAPS Is Finally in Service, and Strong Marketing Performance Is Good Start to 2023

Stephen Ellis May 18, 2023

Enbridge Earnings: Capturing Upside From Recent Mainline Announcement and M&A

Stephen Ellis May 18, 2023

Plains Earnings: Permian Oil Volumes Continue To Drive Plains’ Recovery

Stephen Ellis May 18, 2023

Pembina Earnings: Northern Pipeline Outage and Weak Marketing Create Headwinds

Stephen Ellis May 18, 2023

Enbridge: New Mainline Settlement Resolves Uncertainty Over Toll Structure

Stephen Ellis May 18, 2023

Targa Earnings: Unexpected LPG Strength Offsets G&P Weakness

Stephen Ellis May 18, 2023

Williams Earnings: Marketing Takes a Turn As the Star Amid Tepid Volume Performance

Stephen Ellis May 18, 2023

Magellan Earnings: Refined Products Leads the Way While Buybacks Continue

Stephen Ellis May 18, 2023

Oneok Earnings: Strong Volumes Continue to Propel Growth Yet Again

Stephen Ellis May 18, 2023

Cheniere Earnings: Wide Marketing Spreads Generate One More Great Quarter Before Expected Collapse

Stephen Ellis May 18, 2023

Stephen Ellis is senior director, ESG Research at Morningstar Sustainalytics. Previously, he was strategist, AM Resources, for Morningstar Equity Research.

Sponsor Center

Transparency is our policy. Learn how it impacts everything we do

Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data.

We’d like to share more about how we work and what drives our day-to-day business.

How we make money

We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

How we use your personal data

How we use your information depends on the product and service that you use and your relationship with us. We may use it to:

Verify your identity, personalize the content you receive, or create and administer your account.
Provide specific products and services to you, such as portfolio management or data aggregation.
Develop and improve features of our offerings.
Gear advertisements and other marketing efforts towards your interests.

To learn more about how we handle and protect your data, visit our privacy center.

How we approach editorial content

Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive.

To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research.

Read our editorial policy to learn more about our process.

© Copyright 2026 Morningstar, Inc. All rights reserved. Dow Jones Industrial Average, S&P 500, Nasdaq, and Morningstar Index (Market Barometer) quotes are real-time.