Tallgrass Energy: Top Midstream MLP Gainer on September 22

Top gainers

Tallgrass Energy Partners (TEP) was the top gainer among midstream MLPs at the end of trading on Tuesday, September 22. It rose 2.77% yesterday.

Tallgrass Energy: Top Midstream MLP Gainer on September 22

Tallgrass Energy Partners

With yesterday’s gain, Tallgrass Energy Partners’ YTD (year-to-date) returns improved to -1.14%. One of the most important drivers of Tallgrass Energy Partners’ stable YTD market performance is its strong distribution growth. It declared a quarterly cash distribution of $0.58 per common unit for 2Q15, or $2.32 on an annualized basis. This represents a huge 52.6% YoY (year-over-year) rise compared to the level in 2Q14. It’s an 11.50% sequential rise from the distribution of $0.52 in 1Q15.

Midcoast Energy Partners

Midcoast Energy Partners (MEP) is next in our list of the top midstream MLP gainers. MEP rose 2.60% yesterday. It has returned -19.23% YTD (year-to-date). 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 an in-depth analysis of Midcoast Energy Partners’ recent operating and market performance, read Midcoast Energy Partners’ Year-to-Date Returns Exceed Industry Average.

Other gainers

The next three MLPs on the list of the top five midstream MLP gainers on September 22 are USD Partners (USDP), Enable Midstream Partners (ENBL), and World Point Terminals (WPT). They rose 1.90%, 1.51%, and 0.77%, respectively. These three MLPs have returned -32.04%, -26.97%, and -28.18% YTD.

The Alerian MLP ETF (AMLP) and the UBS ETRACS Alerian MLP ETN (AMU) fell 1.72% and 1.97%, respectively. For context, the upstream energy company heavy SPDR S&P Oil & Gas Exploration & Production ETF (XOP) fell 1.48% on the same day.