Midcoast Energy Partners (MEP) was the worst performer among midstream MLPs at the end of trading on Tuesday, September 29. It fell 13.15% yesterday.
Midcoast Energy Partners
With yesterday’s loss, Midcoast Energy Partners’ YTD (year-to-date) returns fell to -35.31%. Midcoast Energy Partners was formed by Enbridge Energy Partners (EEP) to own and grow its natural gas and NGL (natural gas liquid) midstream business in the US. Both of the partnerships are part of Enbridge (ENB). Currently, Midcoast Energy Partners operates the following two businesses:
- natural gas gathering, processing, and transportation
- logistics and marketing
For in-depth analysis of Midcoast Energy Partners’ recent operating and market performance, read Midcoast Energy Partners’ YTD Returns Exceed Industry Average.
Shell Midstream Partners
Shell Midstream Partners (SHLX) is next on our list of the top five worst midstream MLP performers on September 29. Its losing streak continued with a single-day loss of 12.38% yesterday. The stock has lost 36.32% of its market value in the last month. Shell Midstream owns crude oil and refined product pipelines that provide transportation infrastructure to “onshore and offshore crude oil production to Gulf Coast refining markets and to deliver refined products from those markets to major demand centers.”
Other worst performers
Williams Partners (WPZ), Columbia Pipeline Partners (CPPL), and Antero Midstream Partners (AM) were among the top five worst midstream MLP performers on Tuesday, September 29. They fell 11.27%, 10.57%, and 8.94% in the last trading session, respectively. Williams Partners and Antero Midstream Partners have returned -41.73% and -38.51% YTD. Columbia Pipeline Partners started trading in February 2015. Since then, the stock has returned -58%.