Midstream and Upstream MLP Gainers and Losers on October 27
In the last part, we saw the top five midstream MLP losers on Tuesday, October 27. In this part, we’ll discuss the top five midstream MLP gainers on the same day.
Phillips 66 Partners
Phillips 66 Partners (PSXP) was the top gainer among midstream MLPs at the end of trading on Tuesday, October 27. It rose 1.4%. It has returned -22.1% YTD (year-to-date). Phillips 66 Partners’ gain can be attributed to its rating upgrade by one of the major investment banks covering the stock. Phillips 66 Partners was formed by Phillips 66 (PSX) to own and operate crude oil and refined product pipelines and other midstream assets. Read Energy MLPs: How Did 6 Logistics Subsidiaries Perform in 2Q15? for a comparative analysis of six US logistics subsidiaries, including Phillips 66 Partners.
Western Refining Logistics
Western Refining Logistics (WNRL) is next on our list of the top midstream MLP gainers. It rose 0.87% yesterday. It has returned -24.30% YTD. It was formed by Western Refining (WNR) to own, operate, and develop pipelines, storage tanks, terminals, and other logistics assets.
The next three MLPs on the list of the top five midstream MLP gainers on October 27 are TC Pipelines (TCP), Energy Transfer Equity (ETE), and Niska Gas Storage Partners (NKA). They rose 0.53%, 0.35%, and 0.31%, respectively. These three MLPs have returned -30.4%, -29.3%, and 10.1% YTD.
The Alerian MLP ETF (AMLP) and the UBS ETRACS Alerian MLP Infrastructure ETN (MLPI) have returned -27.7% and -33.7% YTD. For context, the upstream energy company heavy SPDR S&P Oil & Gas Exploration & Production ETF (XOP) has returned -26.9% YTD.
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