Genesis Energy: Top Midstream MLP Loser on October 12
Midstream and Upstream MLP Gainers and Losers on October 12
Top losers
Genesis Energy (GEL) was the top loser among midstream MLPs at the end of trading on Monday, October 12. It’s among the top performing midstream MLPs. It fell 8.9% yesterday. For an overview of Genesis Energy’s recent market and operating performance, read Genesis Energy: An Overview of One of the Best-Performing MLPs.
Genesis Energy
With yesterday’s loss, Genesis Energy’s YTD (year-to-date) returns fell to -5.3%. However, it might recover considering its solid historical distributions, strong distribution guidance, and recent rating upgrades by analysts covering the stock. Genesis Energy is mainly involved in crude oil and refined products logistics.
American Midstream Partners
American Midstream Partners (AMID) is next on our list of the top five midstream MLP losers on October 12. It fell 8% yesterday. It has returned -45% YTD. The partnership is primarily involved in natural gas, oil, and condensate gathering, processing, treating, fractionating, and transporting services.
Other losers
Midcoast Energy Partners (MEP), Energy Transfer Equity (ETE), and Enable Midstream Partners (ENBL) were among the top five midstream MLP losers on Monday, October 12. They fell 3.8%, 3.7%, and 3.7% in the last trading session, respectively. They have returned -17.9%, -16.5%, and -32.1% YTD.
Energy Transfer Equity was battered after its merger announcement with Williams Companies (WMB). It recovered slightly in the last few trading sessions. For an in-depth analysis of the Energy Transfer Equity-Williams Companies merger, read A Complete Guide to the Energy Transfer–Williams Merger.
The Alerian MLP ETF (AMLP) and the Nuveen Energy MLP Total Return (JMF) fell 1.3% and 3.7% yesterday. 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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