In the last part of this series, we saw the worst performing midstream MLPs (master limited partnerships) on Monday, June 29. In this part, we’ll discuss the best performing midstream MLPs on the same day.
Genesis Energy (GEL) was the best performing midstream MLP at the end of trading on Monday, June 29. It rose 0.16% yesterday. Genesis Energy has performed well YTD (year-to-date)—considering the turmoil in the energy markets. Its stock has appreciated by 3.32% YTD. It has a diverse portfolio of midstream assets, including refinery-related plants, pipelines, storage terminals, and trucking operations.
Other best performers
The next four stocks on the list of the five best performers include Western Gas Partners (WES), Enterprise Product Partners (EPD), Buckeye Partners (BPL), and Sunoco Logistics (SXL). They were actually losers. This indicates that the entire midstream sector didn’t do very well yesterday. In the next part of this series, we’ll discuss why the midstream sector had a poor performance.
Western Gas Partners, Enterprise Product Partners, Buckeye Partners, and Sunoco Logistics fell 0.55%, 0.60%, 0.87%, and 0.90%, respectively. They’ve returned -13.13%, -16.94%, -0.62%, and -10.24% YTD, respectively.
Buckeye Partners’ performance has been stable over the past six months due to its lesser exposure to commodity prices and solid operating results. For a detailed analysis of Buckeye Partners’ recent performance, read In-Depth Analysis: Buckeye Partners’ Recent Performance.
Enterprise Product Partners is just $0.31 away from breaching its 52-week low of $29.69. It’s the single largest holding of the Alerian MLP ETF (AMLP). Enterprise Product Partners alone accounts for 10.04% of AMLP. Enterprise Product Partners, Genesis Energy, Western Gas Partners, Buckeye Partners, and Sunoco Logistics account ~26.48% of AMLP. AMLP fell 1.39% yesterday. For context, the upstream energy company heavy SPDR S&P Oil & Gas Exploration & Production ETF (XOP) fell 3.23%.