Midstream and Upstream MLP Gainers and Losers on August 18
In the last part of this series, we saw the top five midstream MLP gainers on August 18. In this part, we’ll discuss the top five midstream MLP losers on the same day.
JP Energy Partners
JP Energy Partners (JPEP) was the top loser among midstream MLPs at the end of trading on Tuesday, August 18. It fell 8.57% in a single trading session yesterday. With yesterday’s loss, the company’s YTD (year-to-date) returns fell to -34.59%. JP Energy Partners mainly provides crude oil, refined products, and NGL (natural gas liquid) gathering, transportation, and storage services.
Southcross Energy Partners
Southcross Energy Partners (SXE) is next on our list of the top five midstream MLP losers on August 18. It fell 5.64% yesterday. Southcross Energy Partners has lost over 50% of its market value since the beginning of this year. The partnership mainly provides natural gas gathering, processing, treating, compression, and transportations services. Apart from this, the company is also engaged in natural gas and NGL acquisition and marketing.
Martin Midstream Partners (MMLP), Delek Logistics Partners (DKL), and ONEOK Partners (OKS) were among the top five midstream MLP losers on Tuesday, August 18. They fell 4.60%, 4.57%, and 3.68% in the last trading session, respectively. They’ve returned -0.37%, 7.75%, and -18.85% YTD.
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.
The Alerian MLP ETF (AMLP) and the UBS ETRACS Alerian MLP ETN (AMU) have returned -16.21% and -19.48% YTD. ONEOK Partners accounts for ~4.40% of AMLP. For context, the upstream energy company heavy SPDR S&P Oil & Gas Exploration & Production ETF (XOP) has returned -18.09% YTD.
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