Phillips 66 Partners: Top Midstream MLP Loser on September 3


Sep. 4 2015, Published 7:59 a.m. ET

Top losers

In the last part of this series, we saw the top five midstream MLP gainers on September 3. In this part, we’ll discuss the top five midstream MLP losers on the same day.

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Phillips 66 Partners

Phillips 66 Partners (PSXP) was the top loser among midstream MLPs at the end of trading on Thursday, September 3. It fell 3.13% yesterday. It has returned -16.41% YTD (year-to-date). Phillips 66 Partners was formed by Phillips 66 (PSX) to own and operate crude oil and refined product pipelines and other midstream assets.

JP Energy Partners

JP Energy Partners (JPEP) is next on our list of the top five midstream MLP losers on September 3. It fell 2.33% yesterday. Recently, its stock breached its 52-week low. It has been on a roller-coaster ride for the past few days. With yesterday’s loss, JP Energy Partners’ YTD returns fell to -38.18%. The company mainly provides crude oil, refined products, and NGL (natural gas liquid) gathering, transportation, and storage services.

Other losers

VTTI Energy Partners (VTTI), World Point Terminals (WPT), and Valero Energy Partners (VLP) were among the top five midstream MLP losers on Thursday, September 3. They fell 2.31%, 2.12%, and 2.02% in the last trading session, respectively. They have returned -14.72%, -29.03%, and 20.07% YTD.

Valero Energy Partners’ solid YTD market performance can be attributed to its strong distribution growth and coverage ratio. Its 2Q15 distribution grew by 31.50% YoY (year-over-year) compared to 1Q14. Its coverage ratio for 2Q15 was 2.17x.

The Alerian MLP ETF (AMLP) and the Yorkville High Income MLP ETF (YMLP) have returned -18.09% and -34% YTD. For context, the upstream energy company heavy SPDR S&P Oil & Gas Exploration & Production ETF (XOP) has returned -22.92% YTD.


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