{"id":584130,"date":"2025-07-20T20:22:57","date_gmt":"2025-07-21T03:22:57","guid":{"rendered":"https:\/\/nai500.com\/?p=584130"},"modified":"2025-07-20T20:22:57","modified_gmt":"2025-07-21T03:22:57","slug":"%e6%8e%98%e9%87%91%e8%83%bd%e6%ba%90%e8%82%a1%ef%bc%9a7-5%e9%ab%98%e6%81%af%e9%be%99%e5%a4%b435%e8%b6%85%e8%b7%8c%e7%bb%bf%e7%94%b5","status":"publish","type":"post","link":"https:\/\/nai500.com\/zh-hans\/blog\/2025\/07\/%e6%8e%98%e9%87%91%e8%83%bd%e6%ba%90%e8%82%a1%ef%bc%9a7-5%e9%ab%98%e6%81%af%e9%be%99%e5%a4%b435%e8%b6%85%e8%b7%8c%e7%bb%bf%e7%94%b5\/","title":{"rendered":"\u6398\u91d1\u80fd\u6e90\u80a1\uff1a7.5%\u9ad8\u606f\u9f99\u5934+35%\u8d85\u8dcc\u7eff\u7535"},"content":{"rendered":"

\u5feb\u901f\u57ce\u5e02\u5316\uff0c\u5de5\u4e1a\u6d3b\u52a8\u589e\u52a0\uff0c\u4ea4\u901a\u7535\u6c14\u5316\u4ee5\u53ca\u4eba\u5de5\u667a\u80fd\uff08AI\uff09\u5e94\u7528\u6269\u5927\u63a8\u52a8\u7684\u6570\u636e\u4e2d\u5fc3\u6269\u5f20\uff0c\u53ef\u80fd\u5728\u672a\u6765\u6570\u5e74\u6301\u7eed\u63a8\u9ad8\u5168\u7403\u80fd\u6e90\u9700\u6c42\u3002\u8fd9\u4e00\u6709\u5229\u73af\u5883\u4e0b\uff0c\u4ee5\u4e0b\u4e24\u53ea\u80fd\u6e90\u80a1\u503c\u5f97\u91cd\u70b9\u5173\u6ce8\u3002<\/p>\n

Energy Transfer\uff08NYSE: ET\uff09<\/a><\/h2>\n

\u8fd9\u5bb6\u4e2d\u6e38\u80fd\u6e90\u516c\u53f8\u867d\u975e\u70ed\u95e8\u80a1\uff0c\u4f46\u5177\u5907\u5f53\u524d\u5e02\u573a\u6700\u4f73\u7684\u98ce\u9669\u56de\u62a5\u6bd4\u548c\u9ad8\u80a1\u606f\u7387\u3002\u9700\u8981\u6ce8\u610f\u7684\u662f\uff0c\u6295\u8d44\u4e1a\u4e3b\u6709\u9650\u5408\u4f19\uff08MLP\uff09\u4f01\u4e1a\u5c06\u6536\u5230K-1\u7a0e\u8868\uff0c\u7a0e\u52a1\u7533\u62a5\u9700\u989d\u5916\u6b65\u9aa4\u3002<\/p>\n

\u7ecf\u5386\u4e0a\u4e00\u8f6e\u6269\u5f20\u5468\u671f\u540e\uff0cEnergy Transfer\u8fd1\u5e74\u7740\u529b\u4f18\u5316\u8d44\u4ea7\u8d1f\u503a\u8868\uff1a2020\u5e74\u524a\u51cf\u80a1\u606f\uff0c\u6b64\u540e\u901a\u8fc7\u81ea\u7531\u73b0\u91d1\u6d41\u507f\u8fd8\u503a\u52a1\u5e76\u8d44\u52a9\u589e\u957f\u9879\u76ee\uff0c\u76ee\u524d\u6760\u6746\u7387\u5904\u4e8e\u76ee\u6807\u533a\u95f4\u4f4e\u4f4d\u3002\u516c\u53f8\u7ea690%\u7684EBITDA\uff08\u7a0e\u606f\u6298\u65e7\u53ca\u644a\u9500\u524d\u5229\u6da6\uff09\u6765\u81ea\u6536\u8d39\u670d\u52a1\uff0c\u4e0d\u53d7\u5927\u5b97\u5546\u54c1\u4ef7\u683c\u6ce2\u52a8\u5f71\u54cd\uff0c\u4e14\u591a\u6570\u4e3a\u7167\u4ed8\u4e0d\u8bae\u5408\u540c\uff08\u5ba2\u6237\u65e0\u8bba\u662f\u5426\u4f7f\u7528\u670d\u52a1\u5747\u9700\u4ed8\u8d39\uff09\uff0c\u5f62\u6210\u7a33\u5b9a\u7684\u7ecf\u5e38\u6027\u73b0\u91d1\u6d41\uff0c\u6709\u529b\u652f\u6491\u80a1\u606f\u53d1\u653e\u4e0e\u9879\u76ee\u5f00\u53d1\u3002<\/p>\n

Energy Transfer\u5f53\u524d\u80a1\u7968\u8fdc\u671f\u80a1\u606f\u73877.5%\uff0c\u4e0a\u5b63\u5ea6\u7684\u53ef\u4f9b\u5206\u914d\u73b0\u91d1\u6d41\u8986\u76d6\u500d\u6570\u8fbe2.1%\uff0c\u6d3e\u606f\u5b89\u5168\u6027\u9ad8\u3002\u516c\u53f8\u5df2\u8fde\u7eed13\u4e2a\u5b63\u5ea6\u63d0\u9ad8\u80a1\u606f\uff0c\u7ba1\u7406\u5c42\u8ba1\u5212\u672a\u6765\u6bcf\u5e74\u589e\u957f3%-5%\u3002<\/p>\n

\u516c\u53f8\u91cd\u542f\u589e\u957f\u6a21\u5f0f\uff0c\u8d44\u672c\u652f\u51fa\u5c06\u4ece\u53bb\u5e74\u768430\u4ebf\u7f8e\u5143\u589e\u81f3\u4eca\u5e74\u768450\u4ebf\u7f8e\u5143\uff0c\u9879\u76ee\u76ee\u6807\u56de\u62a5\u738715%\u3002\u91cd\u70b9\u9879\u76ee\u5305\u62ec\uff1aHugh Brinson\u5929\u7136\u6c14\u7ba1\u9053\uff0cLake Charles LNG\u9879\u76ee\uff0c\u4ee5\u53ca\u4e0eCloudBurst\u7b7e\u8ba2\u7684AI\u6570\u636e\u4e2d\u5fc3\u4f9b\u6c14\u534f\u8bae\u3002\u5c3d\u7ba1\u57fa\u672c\u9762\u5168\u9762\u5411\u597d\uff0c\u516c\u53f8\u8fdc\u671f\u4f01\u4e1a\u4ef7\u503c\/EBITDA\u500d\u6570\u4ec58\u500d\uff0c\u8fdc\u4f4e\u4e8e\u5386\u53f2\u5747\u503c\u53ca\u540c\u4e1a\u6c34\u5e73\u30022011-2016\u5e74\u4e2d\u6e38MLP\u4f01\u4e1a\u5e73\u5747EBITDA\u500d\u6570\u4e3a13.7\u500d\u3002<\/p>\n

Northland Power\uff08TSX:NPI\uff09<\/h2>\n

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\u4e0d\u8fc7\uff0c\u968f\u7740\u5f53\u524d\u5b8f\u89c2\u73af\u5883\u6539\u5584\uff08\u5229\u7387\u4e0e\u901a\u80c0\u53cc\u53cc\u4e0b\u884c\uff09\uff0c\u53e0\u52a0\u4e09\u5927\u5173\u952e\u9879\u76ee\u8fdb\u5c55\u2014\u2014\u7535\u6c60\u50a8\u80fd\u9879\u76ee\u5df2\u6295\u5165\u8fd0\u8425\uff0cBaltic Power\u4e0eHai Long\u9879\u76ee\u4e34\u8fd1\u7ae3\u5de5\uff0c\u516c\u53f8\u672a\u6765\u4e24\u5e74\u8d44\u672c\u652f\u51fa\u5c06\u6301\u7eed\u4e0b\u964d\uff0c\u73b0\u91d1\u6d41\u5c06\u663e\u8457\u63d0\u5347\uff1a\u8c03\u6574\u540eEBITDA\u9884\u8ba1\u5c06\u589e\u52a06\u4ebf\u52a0\u5143\uff0c\u81ea\u7531\u73b0\u91d1\u6d41\u589e\u957f2\u4ebf\u52a0\u5143\u3002\u516c\u53f8\u5168\u7403\u5728\u8fd0\u88c5\u673a\u5bb9\u91cf\u8fbe3.4\u5409\u74e6\uff0c\u5728\u5efa\u9879\u76ee\u88c5\u673a\u91cf2.2\u5409\u74e6\uff0c\u5f62\u6210\u6a2a\u8de8\u52a0\u62ff\u5927\u3001\u5317\u6b27\u81f3\u4e2d\u56fd\u53f0\u6e7e\u5730\u533a\u5e7f\u6cdb\u7684\u5730\u57df\u8986\u76d6\u3002\u80fd\u6e90\u7ed3\u6784\u5168\u9762\u8986\u76d6\u5929\u7136\u6c14\u3001\u98ce\u7535\u3001\u5149\u4f0f\u53ca\u50a8\u80fd\u9886\u57df\uff0c\u6784\u5efa\u591a\u7ef4\u5ea6\u4e1a\u52a1\u77e9\u9635\u3002<\/p>\n

Northland Power\u7684\u8d44\u4ea7\u8d1f\u503a\u8868\u5f97\u5230\u5f3a\u5316\uff0c\u957f\u671f\u503a\u52a1\u4ece2021\u5e74\u5cf0\u503c\u768470\u4ebf\u52a0\u5143\u964d\u81f361\u4ebf\u52a0\u5143\uff0c\u5229\u606f\u652f\u51fa\u4e5f\u968f\u4e4b\u5229\u7387\u964d\u4f4e\u2014\u2014\u4ece2023\u5e74\u76845%\u964d\u81f3\u5f53\u524d2.75%\u2014\u2014\u51cf\u5c11\uff0c\u8d26\u9762\u6d41\u52a8\u8d44\u91d1\u8fbe11\u4ebf\u52a0\u5143\u3002\u7ba1\u7406\u5c42\u6307\u5f152025\u5e74\u8c03\u6574\u540eEBITDA\u4e3a13-14\u4ebf\u52a0\u5143\uff08\u8f832024\u5e74\u589e\u957f3%-11%\uff09\uff0c2026-2027\u5e74\u7684\u73b0\u91d1\u6d41\u5c06\u8fdb\u4e00\u6b65\u5347\u9ad8\u3002<\/p>\n

\u968f\u7740\u4e24\u5927\u9879\u76ee\u672a\u6765\u4e24\u5e74\u6295\u8fd0\uff0c\u73b0\u91d1\u6d41\u589e\u957f\u53e0\u52a0\u98ce\u9669\u964d\u4f4e\uff0cNorthland Power\u7684\u4f30\u503c\u6709\u671b\u56de\u5347\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"

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