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    Mike Muller

    Research Analyst at JPMorgan Chase & Co.

    Mike Muller is an Executive Director and Equity Research Analyst at JPMorgan Chase & Co., specializing in the coverage of the U.S. midstream energy sector with a primary focus on companies such as Enterprise Products Partners, Kinder Morgan, Williams Companies, and EnLink Midstream. Known for his insightful and actionable research, Muller has developed a reputation among institutional investors for his sharp analysis and consistently strong stock recommendations, earning a track record with above-industry-average returns and high success rates on platforms like TipRanks. He joined JPMorgan in 2017, having previously held research and analytical roles at Tudor, Pickering, Holt & Co. and Simmons & Company, building extensive expertise in oil and gas equity coverage. Muller is FINRA-registered and holds Series 7, 63, 86, and 87 licenses, underpinning his credibility as a trusted Wall Street energy sector analyst.

    Mike Muller's questions to Marti Technologies (MRT) leadership

    Mike Muller's questions to Marti Technologies (MRT) leadership • Q3 2017

    Question

    Mike Muller from JPMorgan Chase & Co. sought clarification on the 0.9x fixed charge coverage for the Texas portfolio, asking if it was at the tenant level. He also asked if, in hindsight, any red flags from the original underwriting process would stand out today.

    Answer

    CEO John McRoberts confirmed the coverage was at the tenant level, specific to the ten facilities they own. Reflecting on the underwriting, McRoberts noted the main issue was that the management company was slow to recognize and address the operational problems. He emphasized it was a fixable management issue, not a systemic market problem. CFO Jeffery Walraven added that the original underwriting expected a quicker ramp-up to 1.5x coverage from the initial 1.3x, which has not yet been achieved.

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