uploads///Best Performers

Analyzing the Best Performing Midstream MLPs on June 25


Nov. 20 2020, Updated 1:41 p.m. ET

Best performers

In the last part of this series, we discussed the worst performing midstream MLPs (master limited partnerships) on Thursday, June 25. In this part, we’ll discuss the best performing midstream MLPs on the same day.

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Western Gas Partners

Western Gas Partners (WES) rose 0.5% yesterday. It was the biggest gainer by the end of trading on Thursday. However, the stock is close to its 52-week low of $60.10. It has fallen 12.8% YTD (year-to-date).

Tesoro Logistics

Next on our list of midstream gainers is Tesoro Logistics (TLLP). The company’s stock rose 0.2% yesterday. Tesoro Logistics is one of the leading full-service logistics MLPs operating primarily in the western and mid-continent regions of the US.

Tesoro Logistics’ performance has been fairly stable over the last six months, despite the weakness in energy prices. It has returned 0.4% YTD. The reason for the stable performance can be attributed to less exposure to commodity prices—compared to other midstream MLPs. This can be observed through the YTD return spread between Tesoro Logistics and the Alerian MLP ETF (AMLP). AMLP consists of 25 midstream MLPs. Tesoro Logistics has retuned ~9.5% more than AMLP YTD.

Other best performers

The next three stocks in the list of five best performers—including EQT Midstream Partners (EQM), Williams Partners (WPZ), and Boardwalk Pipeline Partners (BWP)—were actually losers. This indicates that the entire midstream sector didn’t do very well yesterday. EQT, Williams Partners, and Boardwalk Pipeline Partners lost 0.2%, 0.3%, and 0.3%, respectively. The three stocks have returned -4.2%, -2.4%, and -15.1% YTD, respectively.

The Alerian MLP ETF (AMLP) lost 1% yesterday. Together, Western Gas Partners, Tesoro Logistics, EQT, and Williams Partners account for ~16.54% of AMLP.

For more company and industry analyses on MLPs, visit our Master Limited Partnerships page.


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