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Delek Logistics Partners: Top Midstream MLP Loser on September 8

Kurt Gallon

Midstream and Upstream MLP Gainers and Losers on September 8

(Continued from Prior Part)

Top losers

In the last part of this series, we saw the top five midstream MLP gainers on September 8. In this part, we’ll discuss the top five midstream MLP losers on the same day.

Delek Logistics Partners

Delek Logistics Partners (DKL) was the top loser among midstream MLPs at the end of trading on Tuesday, September 8. It was among the biggest midstream MLP gainers on Friday last week. It fell 4.93% yesterday. This reflects the tug-of-war between bullish and bearish traders in Delek Logistics Partners’ stock. It has returned 8.15% YTD (year-to-date).

Delek’s solid YTD market performance can be attributed to its strong operating results, impressive distribution coverage, and distribution growth. Delek Logistics was formed by Delek US Holdings (DK) in 2012 to own, operate, acquire, and construct crude oil and refined products logistics and marketing assets.

American Midstream Partners

American Midstream Partners (AMID) was next on our list of the top five midstream MLP losers on September 8. It fell 2.74% yesterday. With yesterday’s loss, American Midstream Partners’ YTD returns fell to -38.76%. The company mainly provides crude oil, refined products, and NGL (natural gas liquid) gathering, transportation, and storage services.

Other losers

USD Partners (USDP), Midcoast Energy Partners (MEP), and Dominion Midstream Partners (DM) were among the top five midstream MLP losers on Tuesday, September 8. They fell 2.68%, 2.65%, and 2.14% in the last trading session, respectively. They have returned -25.76%, -19.37%, and -11.15% YTD.

The Alerian MLP ETF (AMLP) and the UBS ETRACS Alerian MLP ETN (AMU) have returned -18.32% and -23.86% YTD. For context, the upstream energy company heavy SPDR S&P Oil & Gas Exploration & Production ETF (XOP) has returned -22.92% YTD.

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