REPORT OF THE PUBLIC AND INVESTOR RELATIONS COMMITTEE

Transcription

1 2014 ANNUAL MEETING REPORT OF THE PUBLIC AND INVESTOR RELATIONS COMMITTEE Over the past year the Assciatin has cntinued t wrk with its Public Affairs firm, Stry Partners, t advance its capabilities fr respnding t the increasing attentin t MLPs bth in Washingtn and in the investment cmmunity and shaping the image f MLPs in a psitive way. The Assciatin has als cntinued its nging investr relatins activities, mst ntably the MLP Investr Cnference, and is wrking n ways t better fulfill the increasing demand fr infrmatin n MLPs. Public Affairs As the number f MLPs has grwn ver the past few years, they have attracted increasing attentin frm plicymakers n Capitl Hill and frm the financial and general media, as well as frm investrs. Last year it was decided that it was time t hire a public affairs firm t supprt the NAPTP in its cmmunicatins and media effrts, and an Assciatin wrking selected Stry Partners, a Washingtn, DC firm with an excellent reputatin and experience in wrking n energy plicy issues. Earlier this year, we renewed Stry s cntract fr anther twelve mnths. Over the past year Stry has brught great value t ur effrts in respnding t tax refrm develpments and critical media stries and has helped us frame and disseminate a psitive message abut MLPs and the benefits they prvide t the ecnmy and t energy security. Stry gas als served as the primary media cntact fr NAPTP, allwing us t set the terms fr discussins with the press and t structure thse discussins in a psitive way. Specific services that they have prvided include: Prviding strategic cmmunicatins cunsel t the Executive Directr, t the Federal Affairs Cmmittee, and t this cmmittee; Assisting ur Washingtn representatives in the mnitring f imprtant legislative develpments such as tax refrm, infrastructure investment and the MLP Parity Act, frm a cmmunicatins perspective; Mnitring the daily media envirnment arund NAPTP and MLPs frm a legislative and plitical perspective (with a cncentratin n beltway and natinal media utlets; Engaging reprters and editrs n first-line and secndary media inquiries in rder t shape develping stries r define future cverage f MLP--media utlets with which we

2 have cmmunicated in this manner include Blmberg, Wall Street Jurnal, New Yrk Times, Reuters, BNA (nw Blmberg BNA), and Investrs Media; Scripting fficial (and embarged) statements and press releases n behalf f NAPTP when we believe a respnse may be needed t a develpment affecting MLPs (examples include the release f the Camp tax refrm prpsal and the pause in PLR rulings); Designing and executing respnse strategies t cunter harmful and/r inaccurate news stries; Drafting internal messaging dcuments and talking pints in respnse t plitical and/r media develpments; Drafting and designing updated cllateral materials (advcacy-based), including finalizing a multi-page MLP Primer bklet t be used fr issue educatin; Facilitating third party utreach and cmmunicatins crdinatin amng allied grups such as IPAA, API, Hart Energy Publicatins, AOPL, ANGA, and U.S. Chamber; and Drafting and secured several pr-active thught leadership clumns n behalf f NAPTP. Recent media utlets (traditinal and digital) include: Natinal Jurnal Rll Call The Hill Midstream Business Magazine Fuel Fix Energy Cllective Over the next several mnths, Stry will wrk with us t cntinue and enhance the effrts already undertaken. It will cntinue t prvide us with cmmunicatins cunsel, media mnitring, reprter engagement and message develpment; will raft and secure additinal practive editrial pprtunities, fcusing n psitive infrastructure-related stry angles; and respnd any legislative develpments that might ccur during this time, such as Senate Finance Cmmittee summer hearings r mvements arund the MLP Parity Act. In additin, Stry will assist NAPTP in cmpiling infrmatin available frm members, including member marketing pieces, t create state-specific advcacy cllateral t be used in lbbying meetings. Stry Partners als has new initiatives in mind that may be executed as apprved by NAPTP leadership. One is t develp a series f infrmative inf-graphics (and/r vides) that can be shared n the Hill and with the media, as well as upladed t the NAPTP website. The ther is t execute a cmprehensive rebranding strategy fr NAPTP reimagining bth the assciatin s traditinal identity, as well as its digital presence, and in particular redesigning the NAPTP website s that it is mre mdern and attractive and easier t maintain. Public and Investr Relatins Reprt Page 2

3 We welcme every Assciatin members idea s with regard t these activities and ther public affairs initiatives that NAPTP might undertake. If yu wuld like t share them, cntact Randy Burkhalter (rburkhalter@eprd.cm) r Mary Lyman. MLP Investr Cnference This year NAPTP held its thirteenth MLP Investr Cnference and the first since the 2003 cnference in Bstn that has been held utside the greater New Yrk area. It became clear after the 2013 cnference in Stamfrd that we needed t find a mre spacius venue, as well as ne with glf clse by in rder t cntinue ffering a glf turnament. After a review f several ptential lcatins fund by ur meeting planner, we selected the Sawgrass Marritt Glf Resrt and Spa. The site is well knwn fr its glf curses, which are hst t PGA Tur events; and had a large number f sleeping rms available and excellent cnference facilities with a number f rms available fr ne-n-ne meetings. The htel had a number f gd spaces fr dinners and receptins, and there were a number f restaurants available nearby. The mve ut f the New Yrk area, while smething f a risk, did nt hurt cnference incme r attendance verall; bth increased ver the 2013 numbers. Revenue frm the cnference was $889,800, cmpared t $829,111 in We d nt have a ttal 2014 expense figure yet, as sme items have nt yet been finalized, but we estimate that it will be rughly $355,000-$365,000 (vs. $342,959 in 2013), which wuld prvide a healthy prfit t help fund ther Assciatin activities. Spnsrships increased frm 33 spnsrs cntributing $393,000 (plus Simmns & Cmpany s cntributin t the Assciatin glf turnament) in 2013 t 38 spnsrs cntributing $481,000 (again, plus Simmns cntributin t the glf turnament). In additin, there was anther big increase in MLP participatin, thanks t cntinuing grwth in MLP numbers and in NAPTP members. A ttal f 242 peple frm sme 79 MLPs came t the cnference t present and/r hld ne-n-ne meetings (cmpared t 210 frm 68 MLPs last year). Public and Investr Relatins Reprt Page 3

4 MLP Investr Cnference Incme and Expense t date Incme Registratin Fees (net) 235, , Presenter Fees 192, , Spnsrships 401, , Ttal Incme 829, , Expense Glf Turnament 6, Meals, Breaks, and Receptin 209, Htel Meeting Space/Ldging (18,764.90) - Gratuities - - AV and Prductin 32, , Graphics, Design & Printing 4, , Prmtinal and Marketing , Transprtatin (shuttle t htels) 2, Pstage and Shipping , Supplies and Materials 21, , Event Planner and Staff Fees 47, , Staff Expenses 6, , Site Inspectins 2, , Online Registratin/Webcasting 2, , Ttal Expense 341, , Net Incme 487, Attendance this year increased slightly t 945 attendees (ut f 1,017 wh registered). As nted, 242 f these were MLP representatives, and anther 265 were spnsr representatives wh attended fr free as part f the spnsr benefit (it shuld be nted as well that 50 general attendees were actually affiliated with spnsrs but were nt n the free registratin list). It is wrth nting, hwever, that the grwth in attendance came entirely frm MLP and spnsr representatives. The number f general attendees actually declined, and registratin fees drpped frm $235,750 t $218,000. The relative prprtins f general attendees, presenter cmpany representatives, and spnsr representatives have shifted,, with the split ging frm 51%, 25%, and 23% respectively t 46%, 26%, and 28%. If this prves t be a trend, it is f cme cncern, as ne purpse f the cnference is t bring MLPs tgether with members f the investment cmmunity such as financial advisrs with whm they d nt rdinarily meet. Public and Investr Relatins Reprt Page 4

5 MLP Investr Cnference Attendance and Registratin Attended General Attendee % % % Presenting Cmpany Rep % % % Spnsr Cmpany Rep % % % Registered 1,017 1, General Attendee % % % Presenting Cmpany % % % Spnsr Cmpany % % % Based n cnversatins with attendees and the 75 survey frms returned, the majrity f thse attending the cnference liked the mve t Flrida (particularly after the endless winter f ) and fund much t like abut the Sawgrass site; a number f attendees wuld be happy t return there. There were sme prblems, hwever. Despite ur best effrts t manage the htel rms, they filled quickly and there was nly ne alternative htel within walking distance. There were nt enugh ne-by-ne rms in the main buildings, and sme meetings had t be held in the glf villas in a nearby building, making it mre difficult fr attendees t transitin between meetings. In additin, the Jacksnville airprt was a 45 minute drive frm the Sawgrass. Taking all these factrs int accunt, we will be cnsidering varius ptins fr next year, including returning t the Sawgrass, ging t anther Flrida site, r ging t anther lcatin entirely. We welcme everyne s lcatin with regard t bth the site and the frmat f the cnference and the best way t accmmdate the grwing numbers f MLPs and the investrs we want t reach, as well as encurage ur spnsrs t cntinue their supprt. Research MLP Supplement Anther highly successful public and investr relatins activity in which the Assciatin participates is the MLP supplements published each summer by Research magazine. First rganized by Plains All American Pipeline, The Research Magazine Guide t Master Limited Partnerships has been distributed as a supplement t the July issue f Research fr the past several years as a jint effrt f the participating MLPs and NAPTP. Research magazine targets financial cnsultants/advisrs and has a readership f 90,000 financial advisrs. Its cntent is fcused n assisting financial cnsultants build their businesses and ccasinally highlights different types f investment alternatives. The MLP Guide is ne f a number f special advertising supplements that are sent ut with the magazine. Public and Investr Relatins Reprt Page 5

6 This year s MLP supplement cntains ver 65 pages f material. It includes several articles abut MLP investing as well as advertisements and fact sheets fr varius participating MLPs and funds. Advertisers have an ptin t have Research publish and distribute reprints f their cmpany s fact sheets, and Research furnishes the Assciatin with several hundred cpies f the supplement at n charge. Bth the fact sheets and the supplements themselves are excellent handuts at investr cnferences and similar events, and are in much demand at the Mney Shws. Sme 27 MLPs and six MLP fund managers participated in this year s supplement. Website The NAPTP website is anther, very cst-effective, way that the Assciatin reaches investrs. It generates a steady input f phne calls and s t the Assciatin and is ften praised fr the amunt f infrmatin it prvides n MLPs. Keeping the infrmatin n the website current and accessible is ne f the mst imprtant tasks f the Assciatin s management. Visitrs t the website can find educatinal material n MLPs, links t Assciatin members websites, a list f investr relatins cntacts, a list f research analyst cntacts, a list f currently trading MLPs and MLP funds, a calendar f MLP investr events, and many ther resurces. The website als cntains extensive resurces fr Assciatin members in the Members sectin, which is accessible thrugh a lgin and passwrd assigned t each member cmpany. These include Annual Meeting materials ging back t 2002, text and discussin f varius tax regulatins affecting PTPs, briefing and surce material n legislative issues, and cntact infrmatin fr all MLPs and Assciatin members. The Members sectin can be fund at If yur cmpany des nt yet have a lgin and passwrd, r yu have frgtten it, yu can get ne by cntacting Mary Lyman r Lindsay Sander. As mentined earlier, ne service that wuld be available t use frm Stry Partners, albeit at an additinal expense beynd the regular mnthly retainer, is an update f the website. This wuld include bth refreshing the design, which wuld be applied t ther cntexts as well, and migrating the site t a new server (it is currently hused n Yah) and putting it int a frmat that is easier t wrk with and update than the current ne. Because f the expenditure invlved, this will require apprval by the Bard f Directrs. Public and Investr Relatins Reprt Page 6