Genesis Energy (GEL) was the top gainer among midstream MLPs at the end of trading on Thursday, October 15. It rose 8% yesterday.
With yesterday’s gain, Genesis Energy’s YTD (year-to-date) returns improved to -1.5%. It’s among the top performing midstream MLPs due to solid historical distributions, strong distribution guidance, and recent rating upgrades by analysts covering the stock. Genesis Energy focuses on the crude oil and refined products logistics business. For an in-depth analysis of Genesis Energy’s market and operating performance, read Genesis Energy: An Overview of One of the Best-Performing MLPs.
Rice Midstream Partners
Rice Midstream Partners (RMP) is next on our list of the top midstream MLP gainers. It rose 5.4% yesterday. It has returned -4.3% YTD. Rice Midstream Partners was formed by Rice Energy (RICE) to own, operate, acquire, and develop midstream assets in the Appalachian Basin. It mainly provides natural gas gathering and compression services. Rice Midstream Partners operates as a toll-road business with very limited commodity price exposure. For an in-depth overview of Rice Midstream Partners’ performance drivers, read Comparing 4 Midstream MLP Subsidiaries of Upstream C-Corps.
The next three MLPs on the list of the top five midstream MLP gainers on October 15 are American Midstream Partners (AMID), Cone Midstream Partners (CNNX), and Targa Resources Partners (NGLS). They rose 5.3%, 4.3%, and 3.9%, respectively. These three MLPs have returned -39.4%, -56.6%, and -34.0% YTD.
The Alerian MLP ETF (AMLP) and the Yorkville High Income MLP ETF (YMLP) rose 1.5% and 0.4%, respectively, yesterday. Together, Targa Resources Partners and Genesis Energy account for 8.4% of AMLP. For context, the upstream energy company heavy SPDR S&P Oil & Gas Exploration & Production ETF (XOP) rose 2.9% on the same day.