In the last part of this series, we saw the worst performing midstream MLPs (master limited partnerships) on Wednesday, July 8. In this part, we’ll discuss the best performing midstream MLPs on the same day.
Delek Logistics (DKL) was the best performer among midstream MLPs at the end of trading on Wednesday, July 8. It rose 0.11% yesterday. It has returned 27.85% YTD (year-to-date). Delek’s solid YTD market performance can be attributed to its strong operating results, impressive distribution coverage, and distribution growth. Delek Logistics was formed by Delek US Holdings (DK) in 2012 to own, operate, acquire, and construct crude oil and refined products logistics and marketing assets.
Cone Midstream Partners
Next on our list of the best midstream MLP performers is Cone Midstream Partners (CNNX). It rose by a marginal 0.06% yesterday. However, Cone Midstream Partners is close to its 52-week low of $17.05. It has fallen 27.40% YTD.
Other best performers
The next three stocks on the list of the five best performers are Western Refining Logistics (WNRL), Dominion Midstream (DM), and Sunoco Logistics Partners (SXL). They were actually losers. This shows how bad the entire midstream sector did yesterday. They fell 0.03%, 0.18%, and 0.19%, respectively. These three stocks have returned -5.80%, -3.24%, and -10.24% YTD, respectively.
For an in-depth analysis of Sunoco Logistics’ recent operating performance, read Sunoco Logistics Posts 1Q15 Earnings: Distributions Grow for 40th Consecutive Quarter.
The Alerian MLP ETF (AMLP) fell 1.77% yesterday. Sunoco Logistics Partners alone accounts for ~4.95% of AMLP. For context, the upstream energy company heavy SPDR S&P Oil & Gas Exploration & Production ETF (XOP) fell 3.74% yesterday.