In the previous article, we saw the top five midstream MLP (master limited partnership) performers on Friday, October 2. In this article, we’ll talk about the five worst midstream MLP performers on the same day.
World Point Terminals
World Point Terminals (WPT) was the worst performer among midstream MLPs at the end of trading on Friday, October 2, falling 1.92%. With Friday’s loss, World Point Terminals’ YTD (year-to-date) returns moved down to -34.15%. The partnership mainly provides refined products and crude oil terminalling services.
Next in our list of five worst midstream MLP performers on October 2 is Sunoco Logistics (SXL), which lost 1.36% on Friday. It’s returned -30.37% YTD (year-to-date). Sunoco Logistics mainly provides crude oil, NGLs (natural gas liquids), and refined products transportation, terminalling, and storage service. Its general partner is held by Energy Transfer Partners (ETP), which rose 0.9% on Friday.
Other worst performers
Summit Midstream Partners (SMLP), Spectra Energy Partners (SEP), and Columbia Pipeline Partners (CPPL) are among the five worst midstream MLP performers on Friday, October 2. Summit Midstream Partners and Spectra Energy Partners lost 0.46% and 0.07%, respectively, while Columbia Pipeline Partners gained 0.15%. This shows how well the entire midstream sector did on Friday. Summit Midstream and Spectra Energy have returned -54.47% and -27.82% YTD. Columbia Pipeline began trading in February 2015 and since then the stock has returned -49.8%.
The Alerian MLP ETF (AMLP) and the JPMorgan Alerian MLP ETN (AMJ) have returned -23.40% and -28.97% YTD. Together, Sunoco Logistics and Spectra Energy account for 6.77% of AMLP. For context, the upstream energy company heavy SPDR S&P Oil & Gas Exploration & Production ETF (XOP) has returned -26.35% YTD.