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Weekly Wrap-Up: MLPs Weak Last Week amid Crude Oil Volatility

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Part 3
Weekly Wrap-Up: MLPs Weak Last Week amid Crude Oil Volatility PART 3 OF 5

Top MLP Gainers in Week Ended September 8

EV Energy Partners

EV Energy Partners (EVEP) was the top MLP gainer last week, which ended on September 8, 2017. It rose 13.9%. The rise could be attributed to the huge rally in crude oil prices during the start of the week. However, EVEP has fallen 76.8% in 2017 to date. That could be attributed to its weak earnings and liquidity position.

Top MLP Gainers in Week Ended September 8

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Teekay Offshore Partners

Teekay Offshore Partners (TOO), which was the top MLP loser in the week ended September 1, 2017, recovered slightly last week. It rose 8.4% and became the second-highest MLP gainer during the week. However, it has fallen 51.8% YTD (year-to-date). TOO is mainly involved in the marine transportation of crude oil and refined products. 

Holly Energy Partners

Holly Energy Partners (HEP), the MLP formed by HollyFrontier (HFC), one of the largest refiners in the United States, provides crude oil and refined products transportation, terminaling, and storage services. It was the third-largest gainer last week. HEP was weak until Thursday, but it rallied a massive 7.0% in a single trading session on Friday, driving its weekly gain to 5.7%. HEP’s Friday rally could be attributed to its inclusion in the Alerian MLP Infrastructure Index (or AMZI). HEP has risen 6.8% since the beginning of this year.

Dominion Midstream Partners (DM), which was also included in AMZI, rallied 4.8% on Friday. It rose 4.4% during the week. Last week’s rally turned DM’s YTD return positive.

Other top MLP gainers

EQT GP Holdings (EQGP), Green Plains Partners (GPP), Sprague Resources (SRLP), Magellan Midstream Partners (MMP), Terra Nitrogen (TNH), and Summit Midstream Partners (SMLP) were among the top MLP gainers last week. In the next part of this series, we’ll look at MMP’s technical indicators.

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