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Columbia Pipeline: Top Midstream MLP Loser on September 22

Kurt Gallon

Midstream and Upstream MLP Gainers and Losers on September 22

(Continued from Prior Part)

Top losers

In the last part, we saw the top five midstream MLP gainers on September 22. In this part, we’ll discuss the top five midstream MLP losers on the same day.

Columbia Pipeline Partners

Columbia Pipeline Partners (CPPL) was the top loser among midstream MLPs at the end of trading on Tuesday, September 22. Its losing streak continued yesterday with a single-day loss of 8.53%. It has lost 24.70% of its equity value in the last month. The partnership is engaged in the natural gas transmission and storage business. Columbia Pipeline Partners started trading in February 2015. Since then, the stock has returned -45.98%.

Southcross Energy Partners

Southcross Energy Partners (SXE) is next on our list of the top five midstream MLP losers on September 22. It fell 6.62% yesterday. Southcross Energy Partners has lost 66.29% of its market value since the beginning of this year. Its poor YTD (year-to-date) market performance can be attributed to its significant exposure to natural gas and NGL (natural gas liquid) prices. The partnership mainly provides natural gas gathering, processing, treating, compression, and transportations services. Apart from this, Southcross Energy Partners is also engaged in natural gas and NGL acquisition and marketing.

Other losers

Phillips 66 Partners (PSXP), Shell Midstream Partners (SHLX), and Rice Midstream Partners (RMP) were among the top five midstream MLP losers on Tuesday, September 22. They fell 5.83%, 5.79%, and 4.75% in the last trading session, respectively. They have returned -29.03%, -20.99%, and -14.99% YTD.

The Alerian MLP ETF (AMLP) and the UBS ETRACS Alerian MLP ETN (AMU) have returned -21.80% and -28.14% YTD. Shell Midstream Partners accounts for 1.67% of AMLP. For context, the upstream energy company heavy SPDR S&P Oil & Gas Exploration & Production ETF (XOP) has returned -27.46% YTD.

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