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Midstream Movers: Breitburn Energy Partners and Enbridge

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Midstream movers

Moving on in our coverage of top gainers and losers in the energy sector last week, let’s now look at the midstream sector. We’ve selected only midstream companies with market capitalizations of more than $1 billion and 30-day average daily volumes of more than 500,000 shares.

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Top gainers

Breitburn Energy Partners, L.P. (BBEP) was the top midstream gainer in the week to May 1 with a return of ~6%. It’s lost a massive ~60% of its value in the last six months and ~6% year-to-date.

The other gainer in the midstream energy subsector last week was MLP giant Energy Transfer Partners LP (ETP). It also rose close to 6% last week. Units of the MLP are down ~7% over the last six months and ~9.5% year-to-date.

The midstream sector is dominated by MLPs, but it also has several C corporations, which are frequently general partnerships (or GPs) for MLPs. GPs themselves are sometimes MLPs.

Top losers

Canadian midstream giant Enbridge Inc. (ENB) was the top midstream loser last week with a ~3% drop. Shares of the C corporation have gained ~14% in the last six months and ~1.5% this calendar year.

The other major midstream loser in the week to May 1 was Williams Companies (WMB), another C corporation. WMB shares lost ~2.7% last week. They have lost ~5.5% in the last six months but gained ~14% year-to-date.

For context, the Alerian MLP ETF (AMLP), an ETF of the top 25 midstream MLPs in the country, gained ~1% last week. It has lost ~6% in the last six months and ~1.6% year-to-date. Energy Transfer Partners is AMLP’s second largest holding at just under 8%.

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