USD Partners: Worst Midstream MLP Performer on August 27
Best and Worst Midstream and Upstream MLPs on August 27
Worst performers
In the last part of this series, we saw the top five best midstream MLP performers on Thursday, August 27. In this part, we’ll discuss the top five worst midstream MLP performers on the same day.
USD Partners
USD Partners (USDP) was the worst performer among midstream MLPs at the end of trading on Thursday, August 27. It fell 1.37% yesterday. USD Partners was formed by US Development Group to acquire, develop, and operate energy-related rail terminals and other midstream infrastructure assets and businesses.
Niska Gas Storage Partners
Niska Gas Storage Partners (NKA) is next on our list of the top five worst midstream MLP performers on August 27. It fell 0.30% yesterday. It has returned 12.84% YTD (year-to-date). Niska will be acquired by Brookfield Infrastructure (BIP) in an all-cash transaction valued at $911.9 million.
According to a press release published on June 14, 2015, “Brookfield will acquire all of Niska’s outstanding common units for $4.225 per common unit in cash and will acquire the managing member and the incentive distribution rights in Niska.”
After the acquisition of Niska’s natural gas storage assets, Brookfield Infrastructure’s energy infrastructure presence will grow significantly in the US. According to Brookfield Infrastructure, currently its “business consists of the ownership and operation of premier utilities, transport, energy and communications infrastructure assets in North and South America, Australia, and Europe.”
Other worst performers
The next three stocks on the list of the top five worst midstream MLP performers on August 27 were VTTI Energy Partners (VTTI), Cone Midstream Partners (CNNX), and World Point Terminals (WPT). They were actually gainers. This shows how well the entire midstream sector did yesterday. They rose 0.15%, 0.26%, and 0.36%, respectively. They’ve returned -16.98%, -52.74%, and -29.92% YTD.
The Alerian MLP ETF (AMLP) and the JPMorgan Alerian MLP Index ETN (AMJ) have returned -17.58% and -22.74% YTD. For context, the upstream energy company heavy SPDR S&P Oil & Gas Exploration & Production ETF (XOP) has returned -24.78% YTD.
For more company and industry analysis on MLPs, visit Market Realist’s Master Limited Partnerships page.
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