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World Point Terminals: Top Midstream MLP Loser on October 30

Kurt Gallon

Midstream and Upstream MLP Gainers and Losers on October 30

(Continued from Prior Part)

Top losers

In the last part, we saw the top five midstream MLP gainers on Friday, October 30. In this part, we’ll discuss the top five midstream MLP losers on the same day.

World Point Terminals

World Point Terminals (WPT) was the top loser among midstream MLPs at the end of trading on Friday, October 30. It fell 5.1%. World Point Terminals breached its 52-week low on Friday. The partnership mainly provides refined products and crude oil terminaling services.

Enable Midstream Partners

Enable Midstream Partners (ENBL) is next on our list of the top five midstream MLP losers on October 30. It fell 3.6% on Friday. With this loss, Enable Midstream Partners’ YTD (year-to-date) returns fell to -34.9%. The partnership provides natural gas gathering, processing, transportation, and storage services.

Other losers

Niska Gas Storage Partners (NKA), Buckeye Partners (BPL), and Rose Rock Midstream (RRMS) were among the top five midstream MLP losers on Friday, October 30. They fell 2.7%, 2.7%, and 2.6% in the last trading session, respectively. These three stocks have returned 7.8%, -10.4% , and -40.4% YTD, respectively.

Buckeye Partners fell after its 3Q15 earnings announcement on October 30, 2015. It fell due to its weak 3Q15 distribution coverage of 0.89x and low distribution growth. The partnership declared a distribution per unit of $1.18 per share for 3Q15. This represents an ~4.4% YoY (year-over-year) rise over 3Q14 and an ~1.1% sequential rise over 2Q15.

The Alerian MLP ETF (AMLP) and the UBS ETRACS Alerian MLP ETN (AMU) have returned -22.4% and -28.0% YTD. For context, the upstream energy company heavy SPDR S&P Oil & Gas Exploration & Production ETF (XOP) has returned -22.5% YTD.

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