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Weekly Wrap-Up: MLPs Recovered Slightly Last Week

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Part 3
Weekly Wrap-Up: MLPs Recovered Slightly Last Week PART 3 OF 6

Top MLP Losers in the Week Ending August 25

Navios Maritime Midstream

Navios Maritime Midstream Partners (NAP), which owns and operates crude oil tankers, was the top MLP loser in the week ending August 25. It fell 11.3% during the week. It has lost 32.5% since the beginning of 2017. For last week’s update on the performance of the US crude oil tanker industry, read A Look at the Crude Tanker Industry’s Performance in Week 33.

Top MLP Losers in the Week Ending August 25

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CVR Partners

CVR Partners (UAN), the MLP formed by CVR Energy (CVI) to own and operate its nitrogen fertilizer business, continued to be among the top MLP losers for the second consecutive week. It lost 7.3% during the week ending August 25. Overall, it has fallen 52.2% in 2017. CVR Partners’ weak YTD stock performance could be due to its weak earnings—driven weakness in ammonia prices.

Foresight Energy Partners

Foresight Energy Partners (FELP), the MLP involved mainly in coal mining and processing, was the third-highest MLP loser last week. It fell 6.1% in the week ending August 25. The partnership has lost 38.2% since the beginning of 2017.

Other Top MLP losers

Natural Resource Partners (NRP), CONE Midstream Partners (CNNX), Sanchez Production Partners (SPP), Teekay Offshore Partners (TOO), American Midstream Partners (AMID), Legacy Reserves (LGCY), and Sprague Resources (SRLP) were among the top ten MLPs losers last week.

In the next part, we’ll look at how Hurricane Harvey has impacted energy MLPs.

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