{"id":28813,"date":"2025-01-24T22:10:10","date_gmt":"2025-01-24T22:10:10","guid":{"rendered":"https:\/\/quantfury.com\/?p=28813"},"modified":"2025-01-25T00:58:16","modified_gmt":"2025-01-25T00:58:16","slug":"pipelines","status":"publish","type":"post","link":"https:\/\/quantfury.com\/portuge\/insights-do-mercado\/pipelines\/","title":{"rendered":"As a\u00e7\u00f5es de gasodutos de energia podem estar preparadas para ganhos, mas isso n\u00e3o tem nada a ver com os pre\u00e7os do petr\u00f3leo ou do g\u00e1s"},"content":{"rendered":"\n

As a\u00e7\u00f5es de transporte\/armazenamento de petr\u00f3leo e g\u00e1s podem estar preparadas para um aumento, mas n\u00e3o por causa do que pode acontecer com os pre\u00e7os do petr\u00f3leo e do g\u00e1s. \u00c9 por motivos fiscais e de dividendos.<\/p>\n\n\n\n

Essas empresas, em grande parte propriet\u00e1rias de oleodutos e gasodutos, s\u00e3o muitas vezes estruturadas como parcerias limitadas mestres (MLPs) e negociadas como a\u00e7\u00f5es. As distribui\u00e7\u00f5es aos acionistas dessas MLPs s\u00e3o altas, variando de cerca de 5% a 9%.<\/p>\n\n\n\n

E, diferentemente dos dividendos padr\u00e3o, eles n\u00e3o est\u00e3o sujeitos a impostos federais. Em vez disso, s\u00e3o contabilizados como retorno de capital. Sem d\u00favida, isso reduz sua base de custo, o que aumenta seu imposto sobre ganhos de capital se voc\u00ea vender a MLP. Mas se voc\u00ea a mantiver por um longo per\u00edodo, suas distribui\u00e7\u00f5es compensar\u00e3o facilmente o imposto sobre ganhos de capital.<\/p>\n\n\n\n

O motivo pelo qual os pre\u00e7os do petr\u00f3leo e do g\u00e1s t\u00eam pouco impacto sobre as empresas de oleodutos \u00e9 que seus servi\u00e7os s\u00e3o necess\u00e1rios independentemente dos n\u00edveis de pre\u00e7os do petr\u00f3leo e do g\u00e1s. Os produtores de energia precisam fazer com que seus produtos sejam transportados. Outro benef\u00edcio para as MLPs: elas geralmente t\u00eam contratos de 15 a 20 anos com os produtores de energia.<\/p>\n\n\n\n

A pol\u00edtica energ\u00e9tica do presidente Donald Trump tamb\u00e9m deve ajudar as MLPs, permitindo que elas construam mais gasodutos e enviem g\u00e1s natural para o exterior.<\/p>\n\n\n\n

Bill Gross acredita<\/h2>\n\n\n\n

<\/p>\n\n\n\n

Um famoso defensor das MLPs \u00e9 o investidor aposentado Bill Gross, que dirigiu o Pimco Total Return, o maior fundo m\u00fatuo do mundo na d\u00e9cada de 1990.<\/p>\n\n\n\n

\u201cH\u00e1 quase dois anos venho recomendando os oleodutos de MLP como uma op\u00e7\u00e3o atraente de energia com altos rendimentos e potencial de alta de pre\u00e7os\u201d, escreveu Gross em um coment\u00e1rio recente.<\/p>\n\n\n\n

O ETF Alerian MLP, que inclui as principais empresas de oleodutos, subiu 29% nos \u00faltimos dois anos. Isso supera em muito o ganho de 4% do Energy Select Sector SPDR Fund\u00a0(NYSE: XLE<\/a>), que inclui a Exxon e a Chevron. Al\u00e9m disso, o fundo MLP tem um rendimento de distribui\u00e7\u00e3o de 7,7%, muito maior do que o rendimento de 3,4% do fundo de energia.<\/p>\n\n\n\n

Gross acredita que a alta pode continuar. Entre as MLPs que ele recomenda, em ordem alfab\u00e9tica, est\u00e3o Enterprise Products Partners (NYSE: EPD<\/a>), Energy Transfer (NYSE: ET<\/a>), Hess Midstream (NYSE: HESM<\/a>), MPLX (NYSE: MPLX<\/a>) e Plains All American Pipeline (NASDAQ: PAA<\/a>).<\/p>\n\n\n\n

O autor possui a\u00e7\u00f5es da Enterprise Products Partners.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

As a\u00e7\u00f5es de transporte\/armazenamento de petr\u00f3leo e g\u00e1s podem estar preparadas para um aumento, mas n\u00e3o por causa do que pode acontecer com os pre\u00e7os do petr\u00f3leo e do g\u00e1s. \u00c9 por motivos fiscais e de dividendos. Essas empresas, em grande parte propriet\u00e1rias de oleodutos e gasodutos, s\u00e3o muitas vezes estruturadas como parcerias limitadas mestres […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[733,732,9],"tags":[794,795,796,797,798,793],"class_list":["post-28813","post","type-post","status-publish","format-standard","hentry","category-acoes-em-foco","category-economia-e-mercados","category-insights-do-mercado","tag-epd-4","tag-et-4","tag-hesm-4","tag-mplx-4","tag-paa-4","tag-xle-4"],"acf":[],"yoast_head":"\nAs a\u00e7\u00f5es de gasodutos de energia podem estar preparadas para ganhos, mas isso n\u00e3o tem nada a ver com os pre\u00e7os do petr\u00f3leo ou do g\u00e1s | Quantfury<\/title>\n<meta name=\"description\" content=\"Um famoso defensor das MLPs \u00e9 o investidor aposentado Bill 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