Midstream and Upstream MLP Gainers and Losers on September 4
JP Energy Partners (JPEP) was the top gainer among midstream MLPs at the end of trading on Friday, September 4. It rose 2.51% on Friday.
JP Energy Partners
Recently, JP Energy Partners’ stock breached its 52-week low. It has been on a roller coaster ride for the past few days. It has returned -36.63% YTD (year-to-date). The company’s poor YTD market performance can be attributed to its significant commodity price exposure through its crude oil, NGL (natural gas liquid), and refined products distribution and sale businesses. JP Energy Partners mainly provides crude oil, refined products, and NGL gathering, transportation, and storage services.
Delek Logistics Partners
Delek Logistics Partners (DKL) is next on our list of the top midstream MLP gainers. It rose 2.49% on Friday. With yesterday’s gain, Delek Logistics Partners’ YTD returns improved to 13.76%. Its 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 next three MLPs on the list of the top five midstream MLP gainers on September 4 are Summit Midstream Partners (SMLP), World Point Terminals (WPT), and Cone Midstream Partners (CNNX). They rose 1.63%, 1.61%, and 1.22%, respectively. These three stocks have returned -39.42%, -27.88%, and -51.66% YTD.
The Alerian MLP ETF (AMLP) and the UBS ETRACS Alerian MLP ETN (AMU) fell 0.42% and 1.03% on Friday. For context, the upstream energy company heavy SPDR S&P Oil & Gas Exploration & Production ETF (XOP) fell 1.84% on the same day.
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