Before delving into the substance of this month’s issue of MLP Profits, I want to express a fond farewell and sincere debt of gratitude to my longtime partner on this project, Elliott Gue.

Elliott is departing MLP Profits to pursue a venture of his own. We remain close friends and sometime business collaborators, but his contributions to this newsletter will be sorely missed.

I am, however, very pleased to announce that I’ve convinced another long-term partner of mine in the investment advisory business, David Dittman, to join forces with me.

Many of you know David as my right arm since the beginnings of Canadian Edge, which publishes its 100th issue later this month. He’s also been the primary force behind our Australian Edge advisory, which has just finished its first year of publication.

David’s skills are different from Elliott’s. But as readers of CE and AE have learned, they’re also very complementary to mine. Among his first task at MLP Profits will be to fill some holes we’ve had for a while on tax, legal and political issues affecting master limited partnerships.

David will also be carrying over the expertise on energy issues developed at Australian Edge and Canadian Edge over the past decade to enhance our coverage of MLP sectors and to make substantive upgrades to our comprehensive How They Rate table coverage.

How They Rate features live quotes and other information on all US MLPs and can be accessed from the MLP Profits website.

This month we’re adding one MLP to How They Rate coverage, Rentech Nitrogen Partners LP (NYSE: RNF), a relatively new issue focusing on the fertilizer sector. Rentech comes in with a Safety Rating of “1” and a rating of “Hold.”

We’re also noting two name changes. The former Chesapeake Midstream Partners LP is now Access Midstream Partners LP (NSDQ: ACMP), while Penn Virginia Resource Partners LP is now PVR Partners LP (NYSE: PVR). There are no advice or ratings changes to either company.

As always, please feel free to let us know if there’s anything you’d like to see at MLP Profits that we’re not already doing. We continue to see much opportunity in this still-growing market and look forward to providing our best ideas for a long time to come.

Thanks for reading.

The Stories

Master limited partnerships (MLP) have demonstrated a positive seasonal tendency over the past several years: They rally during the fourth quarter. Circumstances–and their underlying fundamental strengths–suggest our Portfolio Holdings are poised for a solid three months’ performance. See Rally Caps On.

North American oil production is set to rise in coming years, as the prolific Bakken Shale in the Upper Midwest of the US and the oil sands and light oil reserves in Canada are exploited. That’s good news for companies that own and operate gathering, storage, processing, refining and transportation assets. See Sector Spotlight: Oil Storage.

Liquefied natural gas (LNG) is a global phenomenon, but understanding how to profitably invest in the story involves appreciating the distinctions among what remains a non-global pricing structure for natural gas. See Sector Spotlight: LNG.

MLP taxation can be a daunting issue for investors accustomed to the relatively straightforward treatment of corporate dividends. Here’s the first entry in what will be an ongoing examination of the current regime. See News & Notes: The Basics of MLP Taxation.

The Stocks

All Portfolio Holdings discussed generally in this month’s Portfolio Update, Rally Caps On. There are no additions or subtractions from the present lineup, nor are there any changes to buy-under targets. Consult the Portfolio tables for current advice.

Enterprise Products Partners LP (NYSE: EP) is discussed at length in Sector Spotlight: Oil Storage. Conservative Holding Enterprise Products is a buy under USD50.

Oiltanking Partners LP (NSDQ: OILT) is also discussed in Sector Spotlight: Oil Storage. Oiltanking is a buy on a dip to USD35. Tesoro Logistics Partners LP (NSDQ: TLLP) is discussed along with Enterprise Products and Oiltanking Partners in Sector Spotlight: Oil Storage. Tesoro Logistics is a buy under USD40.

Cheniere Energy Partners LP (NYSE: CQP) is detailed in Sector Spotlight: LNG. Cheniere Energy is a sell.

Teekay LNG Partners LP (NYSE: TGP) is a also detailed in Sector Spotlight: LNG. Growth Holding Teekay LNG is a buy under USD41.