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Behind 4 Key MLP General Partners

PART:
1 2 3 4 5 6 7 8 9 10 11
Part 9
Behind 4 Key MLP General Partners PART 9 OF 11

What the Technical Indicators Tell Us about ETE, WMB, PAGP, and WGP

Moving averages

Williams Companies (WMB) and Energy Transfer Equity (ETE) recently rose above their 50-day moving averages, while Plains GP Holdings (PAGP) and Western Gas Equity Partners (WGP) continue to trade below their 50-day and 200-day moving averages. WMB also rose above its 200-day moving average, which could indicate a bullish sentiment toward WMB.

WMB was trading 2.6% above its 200-day SMA (simple moving average) as of September 18, while ETE, PAGP, and WGP were trading 3.2%, 20.9%, and 6.9%, respectively, below their 200-day SMAs. PAGP and WGP are trading 3.7% and 1.1% below their 50-day SMAs, respectively, which could indicate a bearish sentiment toward these stocks.

What the Technical Indicators Tell Us about ETE, WMB, PAGP, and WGP

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Short interest as a percentage of float

Short interest in Energy Transfer Equity as a percentage of float (or its short interest ratio) is now the highest in the peer group. ETE’s short interest (7.0%) is followed by PAGP’s (2.9%) short interest.

The Alerian MLP Index (AMZ), which tracks 50 energy MLPs (master limited partnerships), has an average short interest ratio of 3.0%. Notably, ETE’s ratio is above the industry average, while Western Gas Equity Partners’ (WGP) and Williams Companies’ (WMB) short interest ratios of 1.9% and 1.7%, respectively, are significantly lower than the industry average.

But PAGP has seen the highest increase in short interest over the past month, which could indicate bearish sentiment toward the stock. Remember, an increase in short interest indicates an increase in a short position that has not been closed.

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