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Southcross Energy: Best Midstream MLP Performer on October 2

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Best performers

Southcross Energy Partners (SXE) was the best performer among midstream MLPs (master limited partnerships) at the end of trading on Friday, October 2. SXE jumped 14.71% in a single trading session on Friday.

Southcross Energy Partners

It’s lost 63.21% of its market value since the beginning of this year. Southcross Energy Partners’ poor YTD (year-to-date) market performance can be attributed to its significant exposure to natural gas and NGLs (natural gas liquids) prices. The partnership mainly provides natural gas gathering, processing, treating, compression, and transportation services. Apart from this, it is also engaged in natural gas and NGL acquisition and marketing.

JP Energy Partners

Next on our list of top midstream MLP best performers is JP Energy Partners (JPEP). JPEP rose 10.3% on Friday. It has returned -36.96% YTD. The partnership mainly provides crude oil, refined products, and NGL gathering, transportation, and storage services.

Other best performers

The next three stocks in the list of top five midstream MLP performers on October 2 are Niska Gas Storage Partners (NKA), Shell Midstream Partners (SHLX), and Martin Midstream Partners (MMLP). They gained 8.55%, 7.04%, and 6.95%, respectively. They’ve returned 11.49%, -18.35%, and 3.05% YTD.

The Alerian MLP ETF (AMLP) and the JPMorgan Alerian MLP ETN (AMJ) gained 3.15% and 3.26% on Friday, respectively. Shell Midstream Partners alone constitutes 1.68% of AMLP. For context, the upstream energy company heavy SPDR S&P Oil & Gas Exploration & Production ETF (XOP) rose 5.86% on the same day.

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