Midcoast Energy Partners: Top Midstream MLP Loser on October 6


Nov. 20 2020, Updated 5:17 p.m. ET

Top losers

In the last part, we saw the top five midstream MLP gainers on October 6. In this part, we’ll discuss the top five midstream MLP losers on the same day.

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Midcoast Energy Partners

Midcoast Energy Partners (MEP) was the top loser among midstream MLPs at the end of trading on Monday, October 5. It fell 5.8% yesterday. This reflects the tug-of-war between bullish and bearish traders in Midcoast Energy Partners’ stock. It has returned -24.2% YTD (year-to-date). Midcoast Energy 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).

Williams Partners

Williams Partners (WPZ) is next on our list of the top five midstream MLP losers on October 6. It fell 3.2% yesterday. With yesterday’s loss, Williams Partners’ YTD returns fell to -31.8%. Its stock performance has been volatile since the merger announcement by Energy Transfer Equity (ETE) and Williams Companies (WMB). For more details, read A Complete Guide to the Energy Transfer–Williams Merger.

Other losers

Enbridge Energy Partners, Enterprise Products Partners (EPD), and Plains All American Pipeline (PAA) were among the top five midstream MLP losers on Tuesday, October 6. They fell 3%, 2.9%, and 2.5% in the last trading session, respectively. They have returned -32.3%, -22.8%, and -35.9% YTD.

The Alerian MLP ETF (AMLP) and the Credit Suisse X-Links Cushing® MLP Infrastructure ETN (MLPN) have returned -21.1% and -28.7% YTD. Together, Williams Partners, Enbridge Energy Partners, Enterprise Products Partners, and Plains All American Pipeline account for 29.6% of AMLP. For context, the upstream energy company heavy SPDR S&P Oil & Gas Exploration & Production ETF (XOP) has returned -18.7% YTD.

For more company and industry analysis on MLPs, visit Market Realist’s Master Limited Partnerships page.


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