Western Refining Logistics: Top Midstream MLP Gainer on August 26



Top gainers

Western Refining Logistics (WNRL) was the top gainer among midstream MLPs at the end of trading on Wednesday, August 26. It rose 4.98% yesterday. The midstream MLPs involved in refined product terminaling and transportation performed well yesterday. The EIA (U.S. Energy Information Administration) data showed a rise in gasoline inventories by 1.7 MMbbls (million barrels) last week.

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Western Refining Logistics

With yesterday’s gain, Western Refining Logistics’ YTD (year-to-date) return improved to -23.34%. The company was formed by Western Refining (WNR) to own, operate, and develop midstream logistics assets. Its assets include gathering and pipeline assets and transportation, terminaling, and storage in the southwestern portion of the US.

Phillips 66 Partners

Phillips 66 Partners (PSXP) is next on our list of the top midstream MLP gainers. It rose 4.70% yesterday. It has returned -16.31% YTD. Phillips 66 Partners was formed by Phillips 66 (PSX) to own and operate crude oil and refined product pipelines and other midstream assets.

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Other gainers

The next three MLPs on the list of the top five midstream MLP gainers on August 26 are Midcoast Energy Partners (MEP), Western Gas Partners (WES), and Enterprise Product Partners (EPD). They rose 4.30%, 4.08%, and 3.97%, respectively. These three stocks have returned -22%, -23.44%, and -24.53% YTD.

Enterprise Product Partners’ market performance has been volatile since its 2Q15 earnings were announced on July 29, 2015. For an in-depth analysis of Enterprise Product Partners’ 2Q15 earnings, read Enterprise Products’ 2Q15 Results: Key Takeaways for Investors.

The Alerian MLP ETF (AMLP) and the Global X MLP & Energy Infrastructure ETF (MLPX) rose 1.74% and 1.73% yesterday, respectively. Together, Western Gas Partners and Enterprise Product Partners account for ~14.68% of AMLP. Enterprise Product Partners is AMLP’s largest holding. It accounts for 10.69% of the ETF. For context, the upstream energy company heavy SPDR S&P Oil & Gas Exploration & Production ETF (XOP) rose 3.02% on the same day.


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