Targa Resources Partners: Top Midstream Loser on July 30


Dec. 4 2020, Updated 10:52 a.m. ET

Top losers

In the last part of this series, we discussed the top five midstream MLP gainers on July 30. In this part, we’ll discuss the top five midstream MLP losers on the same day.

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Targa Resources Partners

Targa Resources Partners (NGLS) was the top loser among midstream MLPs at the end of trading on Thursday, July 30. It fell 4.13% yesterday. With yesterday’s loss, Targa Resources Partners’ YTD (year-to-date) return fell to -20.07%. Its loss can be attributed to the 4.10% fall in the natural gas future price in yesterday’s trade. The company’s earnings are linked to the movement in natural gas and NGL (natural gas liquid) prices. For an overview of Targa Resources Partners’ commodity price exposure, read An Investor’s Guide to Targa Resources.

Tesoro Logistics

Next on our list of the top five midstream MLP losers on July 30 is Tesoro Logistics (TLLP). It fell 3.50% yesterday. The stock has returned -10.08% YTD. Tesoro Logistics has the highest “buy” ratings among a group of four transportation and terminaling MLPs that we covered in a comparative analysis series. For more details, read Analyzing 4 Top US Transportation and Terminaling MLPs.

Other losers

Shell Midstream Partners (SMLP), ONEOK Partners (OKS), and Western Refining Logistics (WNRL) were among the top five midstream MLP losers on Thursday, July 30. They fell 3.20%, 2.80%, and 2.72%, respectively. They’ve returned 2.73%, -17.69%, and -12.03% YTD.

The Alerian MLP ETF (AMLP) is comprised of 25 midstream MLPs. It has returned -11.59% YTD. Together, Shell Midstream Partners, ONEOK Partners, Tesoro Logistics, and Targa Resources Partners account for ~12.82% of AMLP. For context, the upstream energy company heavy SPDR S&P Oil & Gas Exploration & Production ETF (XOP) has returned -17.99% YTD.


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