Midstream and Upstream MLP Gainers and Losers on October 16
In the last part, we saw the top five midstream MLP gainers on Friday, October 16. 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 Friday, October 16. It lost 4.7% on Friday. It has returned -33.8% YTD (year-to-date). The partnership 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 October 16. SXE fell 4.45% on Friday. With this loss, Southcross Energy Partners’ YTD returns fell to -63.5%. Its poor YTD market performance can be attributed to its significant exposure to natural gas and NGL 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.
Rice Midstream Partners (RMP), American Midstream Partners (AMID), and Cone Midstream Partners (CNNX) were among the top five midstream MLP losers on Friday, October 16. They lost 3.4%, 2.0%, and 1.7% in the last trading session, respectively. These three stocks have returned -7.6%, -40.6%, and -57.4% YTD, respectively.
The Alerian MLP ETF (AMLP) and the UBS ETRACS Alerian MLP ETN (AMU) have returned -20.3% and -25.4% YTD. For context, the upstream energy company heavy SPDR S&P Oil & Gas Exploration & Production ETF (XOP) has returned -18% YTD.
Browse this series on Market Realist: