Energy-related IPOs were roughly a third of all significant U.S.-market initial pricings in the fourth quarter and a sixth of the total 148 for the year, with many of these being distribution-paying MLPs (master limited partnerships). One investment advisor says of continued investor interest in MLPs since tax-law changes in January, “With higher capital-gains and dividend taxes, MLPs should be marginally more attractive, given they defer taxes.”

Among those announcing MLP plans recently, but not yet filed, is QEP Resources Inc., which is making Bakken oil its headliner this year ...