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Dominion Midstream: Worst Midstream MLP Performer on September 11

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Aug. 18 2020, Updated 5:19 a.m. ET

Worst performers

Dominion Midstream Partners (DM) was the worst performer among midstream MLPs at the end of trading on Friday, September 11. It fell 5.48% on Friday. Its shares fell as Goldman Sachs (GS) decided to lower its rating from “neutral” to “sell.”

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Dominion Midstream Partners

With Friday’s loss, Dominion Midstream Partners’ YTD (year-to-date) returns fell to -20.43%. Dominion Midstream was formed by Dominion Resources (D). It mainly provides natural gas transportation, storage, and regasification services. It started trading in October 2014. Since then, the stock has returned 18.10%.

Plains All American Pipeline

Plains All American Pipeline (PAA) is next on our list of the top five worst midstream MLP performers on September 11. It fell 5.47% on Friday. Plains All American Pipeline’s general partner, Plains GP Holdings (PAGP), fell 2.88% on the same day. It mainly provides crude oil, NGL (natural gas liquid), natural gas, and refined products logistics services.

Plains All American Pipelines’ loss on Friday can be attributed to the notice it received from the Pipeline and Hazardous Materials Safety Administration regarding violations of the Pipeline Safety Regulations.

Other worst performers

Transmontaigne Partners (TLP), Shell Midstream Partners (SHLX), and DCP Midstream Partners (DPM) are among the top five worst midstream MLP performers on Friday, September 11. They fell 5.09%, 4.89%, and 4.54% in the last trading session, respectively. These three stocks have returned -4.22%, -15.91%, and -36.54% YTD.

The Alerian MLP ETF (AMLP) and the UBS ETRACS Alerian MLP Infrastructure ETN (MLPI) fell 1.98% and 2.82% on Friday, respectively. Together, Plains All American Pipeline, Shell Midstream Partners, and DCP Midstream Partners account for 10.53% of AMLP. For context, the upstream energy company heavy SPDR S&P Oil & Gas Exploration & Production ETF (XOP) fell 1.91% on the same day.

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