The Best and Worst Midstream and Upstream MLPs on August 3
Best performers
In the last part of this series, we saw the top five worst midstream MLP performers on Monday, August 3. In this part, we’ll discuss the top five best midstream MLP performers on the same day.
Shell Midstream Partners
Shell Midstream Partners (SHLX) was the best performer among the midstream MLPs at the end of trading on Monday, August 3. It rose 2.47% yesterday. With yesterday’s gain, the company’s YTD (year-to-date) returns improved to 6.17%.
Shell Midstream’s solid YTD market performance can be attributed to its relatively low commodity exposed cash flows compared to its MLP counterparts. Shell Midstream was formed by Royal Dutch Shell (RDS-A). Its assets include crude oil and refined products pipelines. It started trading in October 2014. Since then, the stock has returned 29.69%.
Enable Midstream Partners
Enable Midstream Partners (ENBL) is next on our list of the top midstream MLP performers. It rose 0.61% yesterday. However, Enable Midstream has lost 15.11% of its market value YTD. Enable Midstream provides natural gas gathering, processing, transportation, and storage services.
Other best performers
The next three stocks on the list of the top five best midstream MLP performers on August 3 are MPLX LP (MPLX), Rose Rock Midstream (RRMS), and Boardwalk Pipeline Partners (BWP). MPLX rose 0.36% while Rose Rock Midstream and Boardwalk Pipeline fell 0.10% and 0.22%, respectively. This shows how badly the entire midstream sector did yesterday. These three stocks have returned -23.95%, -12.41%, and -21.83% YTD, respectively. MPLX’s market performance has been volatile since the announcement of its merger with MarkWest Energy Partners (MWE). For an in-depth analysis of the merger, read Key for Investors: Analyzing the MarkWest-MPLX Merger.
The Alerian MLP ETF (AMLP) fell 1.69% yesterday. Shell Midstream accounts for ~1.66% of AMLP. For context, the upstream energy company heavy SPDR S&P Oil & Gas Exploration & Production ETF (XOP) fell 3.18% on the same day.
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