Crestwood Midstream: Top Midstream MLP Loser on August 20


Nov. 20 2020, Updated 8:58 p.m. ET

Top losers

Crestwood Midstream Partners (CMLP) was the top loser among midstream MLPs at the end of trading on Thursday, August 20. It fell 9.11% in a single trading session yesterday. Crestwood Midstream Partners’ general partner, Crestwood Equity Partners (CEQP), fell 8.09%.

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Crestwood Midstream Partners

With yesterday’s loss, Crestwood Midstream Partners’ YTD (year-to-date) returns fell to -48.75%. The company’s poor market can be attributed to falling NGL (natural gas liquid) and crude oil prices affecting its crude oil and NGLs services segment. We’ll explore the reasons for the rout in Crestwood Midstream Partners’ market performance in a separate post-earnings analysis series. So, be sure to visit Market Realist’s Master Limited Partnerships page.

Southcross Energy Partners

Southcross Energy Partners (SXE) is next on our list of the top five midstream MLP losers on August 20. It rose 27.74% the day before on the announcement of new equity commitment from its private equity sponsors. It fell 6.46% yesterday. Southcross Energy Partners has returned -47.17% since the beginning of this year. The partnership mainly provides natural gas gathering, processing, treating, compression, and transportation services. Apart from this, it’s also engaged in natural gas and NGL acquisition and marketing.

Other losers

American Midstream Partners (AMID), DCP Midstream Partners LP (DPM), and Summit Midstream Partners (SMLP) were among the top five midstream MLP losers on Thursday, August 20. They fell 6.10%, 5.75%, and 5.16% in the last trading session, respectively. They’ve returned -29.73%, -39.80%, and -41.53% YTD (year-to-date).

The Alerian MLP ETF (AMLP) and the UBS ETRACS Alerian MLP ETN (AMU) have returned -18.21% and -22.52% YTD. Together, Crestwood Midstream Partners and DCP Midstream account for ~3.29% of AMLP. For context, the upstream energy company heavy SPDR S&P Oil & Gas Exploration & Production ETF (XOP) has returned -23.26% YTD.


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