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Dominion Midstream: Top Midstream MLP Loser on October 21

Midstream and Upstream MLP Gainers and Losers on October 21

Top losers

Dominion Midstream Partners (DM) was the top loser among midstream MLPs at the end of trading on Wednesday, October 21. It fell 5.51%.

Dominion Midstream Partners

With yesterday’s loss, Dominion Midstream Partners’ YTD (year-to-date) returns fell to -20.4%. Dominion Midstream was formed by Dominion Resources (D) to provide natural gas transportation, storage, and regasification services.

Rice Midstream Partners

Rice Midstream Partners (RMP) is next on our list of the top five midstream MLP losers on October 21. It fell 5% yesterday. It has returned -15.6% YTD. Rice Midstream Partners was formed by Rice Energy (RICE) to own, operate, acquire, and develop midstream assets in the Appalachian Basin. It mainly provides natural gas gathering and compression services. It operates as a toll-road business with very limited commodity price exposure. However, it depends on its sponsor for throughput volumes.

Other losers

Southcross Energy Partners (SXE), Shell Midstream Partners (SHLX), and Plains All American Pipeline (PAA) were among the top five midstream MLP losers on Wednesday, October 21. They fell 4.3%, 3.5%, and 3.2% in the last trading session, respectively. They have returned -66.5%, -14.8%, and -38.2% YTD, respectively. Plains All American Pipeline is expected to release its 3Q15 earnings on November 3, 2015. For an in-depth pre-earnings analysis on Plains All American Pipeline, read What to Expect from Plains All American Pipeline’s 3Q15 Results.

Southcross Energy Partners’ poor YTD market performance is due to its significant exposure to natural gas and NGL (natural gas liquid) prices. The partnership mainly provides natural gas gathering, processing, treating, compression, and transportation services. Apart from this, Southcross Energy Partners is also engaged in natural gas and NGL acquisition and marketing.

The Alerian MLP ETF (AMLP) and the JPMorgan Alerian MLP ETN (AMJ) fell 1.7% and 1.9% yesterday, respectively. Together, Shell Midstream Partners and Plains All American Pipeline account for 8.9% of AMLP. For context, the upstream energy company heavy SPDR S&P Oil & Gas Exploration & Production ETF (XOP) fell 3.4% on the same day.

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