Weekly Recap: Analyzing MLPs in the Week Ending September 22

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Part 3
Weekly Recap: Analyzing MLPs in the Week Ending September 22 PART 3 OF 5

Which MLPs Rose More than 4% in the Week Ending September 15?

Dominion Midstream Partners

Dominion Midstream Partners (DM), which is mainly involved in natural gas transportation, storage, and processing, was the top MLP gainer in the week ending September 22, 2017. Dominion Midstream rose 12.1% during the week. It has risen ~20% following its inclusion in the Alerian MLP Infrastructure Index (AMZI), which pushed the stock into positive territory. Dominion Midstream has risen 14.2% since the beginning of the year.

Which MLPs Rose More than 4% in the Week Ending September 15?

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Hi-Crush Partners

Hi-Crush Partners (HCLP), the frac sand producer, rose for the third consecutive in the week ending September 22. It rose 11.6% last week. The partnership has risen 30.6% since the beginning of the month. However, Hi-Crush Partners is still trading considerably below the levels at the beginning of the year. So far, it has fallen 49% YTD.

Hi-Crush Partners’ recent gains could be attributed to its rating upgrade and the recent rise in crude oil prices. Higher crude oil prices are expected to drive the US drilling activity. Read HCLP, EMES: Are Frac Sand MLPs Currently Attractive? for an in-depth analysis on Hi-Crush Partners and Emerge Energy Services.

Seadrill Partners

Seadrill Partners (SDLP), the MLP formed by Seadrill Limited (SDRL) to own and operate offshore drilling rigs, was the third-highest MLP gainer last week. Seadrill Partners ended the week 11.4% higher. So far, it has fallen 11.4% YTD. For a recent update on Seadrill Limited and Seadrill Partners, read Seadrill Stock Rose 20% despite Bankruptcy.

Other top MLP gainers

Legacy Reserves (LGCY), CVR Partners (UAN), NGL Energy Partners (NGL), Cypress Energy Partners (CELP), Phillips 66 Partners (PSXP), Archrock Partners (APLP), and CSI Compressco (CCLP) were among the top MLP gainers last week.

Phillips 66 Partners rose 5.9% on Friday last week after it announced a $2.4 billion dropdown from its sponsor, Phillips 66 (PSX). The acquisition includes 100% interest in Merey Sweeny and Phillips 66’s 25% interest in the Bakken Pipeline, which includes the controversial Dakota Access Pipeline. The partnership expects the transaction to be immediately accretive to Phillips 66 Partners’ unitholders.

In the next part, we’ll discuss last week’s ratings update.


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