Transmontaigne Partners: Best Midstream MLP Performer on September 29


Nov. 20 2020, Updated 4:12 p.m. ET

Best performers

In the last part, we saw the top five worst midstream MLP performers on Tuesday, September 29. In this part, we’ll discuss the top five midstream MLP performers on the same day.

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Transmontaigne Partners

Transmontaigne Partners (TLP) was the best performer among midstream MLPs at the end of trading on Tuesday, September 29. It rose 2.09%. With yesterday’s gain, Transmontaigne Partners’ YTD (year-to-date) returns improved to -11.77%. The partnership mainly provides crude oil and refined products terminaling services.

American Midstream Partners

American Midstream Partners (AMID) is next on our list of the top midstream MLP performers. It rose 0.18% yesterday. However, American Midstream Partners has lost 44.65% of its market value since the beginning of this year. The partnership is primarily involved in natural gas, oil, and condensate gathering, processing, treating, fractionating, and transporting services.

Other best performers

The next three stocks on the list of the top five midstream MLP performers on September 23—including Niska Gas Storage Partners (NKA), VTTI Energy Partners (VTTI), and Enable Midstream Partners (ENBL)—were actually losers. This shows how bad the entire midstream sector did yesterday. They fell 0.97%, 1.02%, and 1.26%, respectively. They have returned 3.04%, -29.33%, and -39.45% YTD.

The Alerian MLP ETF (AMLP) and the JPMorgan Alerian MLP ETN (AMJ) have returned -34.30% and -39.19% YTD. For context, the upstream energy company heavy SPDR S&P Oil & Gas Exploration & Production ETF (XOP) has returned -33.22% YTD.

For more company and industry analysis on MLPs, visit Market Realist’s Master Limited Partnerships page.


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