Stephen Ellis is senior director, ESG Research at Morningstar Sustainalytics. Previously, he was strategist, AM Resources, for Morningstar Equity Research.
Stephen Ellis
Stephen Ellis is senior director, ESG Research at Morningstar Sustainalytics.
More From Stephen Ellis
Energy Transfer Earnings: Healthy Results But Distribution Payout Growth Is Slowed
Stock undervalued with fair value estimate of $17.50.
Kinder Morgan Earnings: Natural Gas Business Outperformance Offsets Weaker Oil and Gas Prices
Maintaining Kinder Morgan stock fair value estimate of $17.50.
U.S. Gas Picture Looks Weak in 2023; Should Rebound in 2024
This is a combination of the EU’s reduction of gas consumption, the lack of new U.S. LNG export capacity, and ongoing growth in U.S. gas production.
Cheniere’s Q4 Is Another Blowout
This liquefied natural gas company had full-year EBITDA of $11.6 billion, more than double expectations entering 2022.
Boosting Targa’s Valuation After Strong Q4
We see higher Permian volumes in 2023 as well as double-digit increases in fees.
Boosting Our Pembina Valuation After Increasing Tariff Forecast
We expect higher near-term cash flows.
Pembina’s Fourth-Quarter Results and 2023 Guidance Meet Expectations
Here’s our take.
Lowering Equitrans’ Fair Value Estimate Due to Cloudy MVP Prospects
We still see limited downside.
Targa’s Q4 Delivers Strong Growth, and 2023 Guidance Delivers More of the Same
At this time, we maintain our fair value estimate.
Equitrans’ Q4 Results Are Decent, but MVP’s Outlook Is Now Cloudy
The company shared two versions of 2023 guidance.
Williams Continues to Excel in Fourth Quarter; Delivers Strong 2023 Outlook
We maintain our fair value estimate.
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