What a difference a little perspective makes. Last year at this time MLPs had packed a bad year’s worth of losses into the space of a few weeks, and the beatings showed no obvious sign of letting up.

It took some chutzpah to suggest at the time that the sector would end up enjoying a good year, and that’s just what we did, and what it did.

That forecast doesn’t buy us any extra credit in the annual portfolio results we dissect this month, which is fine because we don’t really need it. Same with the calls to buy Energy Transfer Equity (NYSE: ETE) at February’s lows and Archrock Partners (NASDAQ: APLP) in May. I bring these up now only to convey my view that most of the value of this newsletter accrues in the information it provides rather than the performance of its picks over a given time frame.

Still, we have high hopes for the new Best Buys list, a mix of holdovers and new recommendations. It includes the four new recommendations made in this issue: three coal miners and the general partner of a refining MLP.

Another of the new Best Buys, Williams (NYSE: WMB), is In Focus following its recent simplification deal as well as Marathon Petroleum’s (NYSE: MPC) planned restructuring of its own incentive distribution rights. There are good reasons for sponsors of large and mature MLPs to unload their IDRs at this time, but all such deals are not created equal and we clearly prefer the Williams version to Marathon’s.

With so many important energy stories to cover at the same time we were assembling the time-consuming Best Buys list and equally taxing analysis of last year’s portfolio results, something had to give. The recent IRS ruling finally clarifying activities that do and don’t qualify for MLP status will have to wait until the next issue.

But you don’t have to wait for the measured advance of midstream equities already under way, just as predicted last month. It augurs well for the year ahead. We don’t expect smooth sailing for the next 12 months, of course. But we do expect the MLPs we recommend as well as our other picks to prove worthy of your attention once again.

MLP Profits Portfolio Update

• CONSOL Energy (NYSE: CNX) added to Aggressive Portfolio; buy below $23

• Contura (OTC: CNTE) added to Aggressive Portfolio; buy below $85

• CVR Energy (NYSE: CVI) added to Aggressive Portfolio; buy below $30

• Foresight Energy (NYSE: FELP) added to Aggressive Portfolio; buy below $9

• TransCanada (NYSE: TRP) moved to Conservative Portfolio from Growth

• CONE Midstream Partners (NYSE: CNNX) buy limit increased to $27

• New Best Buys list published