23 Nov

Enable Midstream Partners: Top Midstream MLP Loser on November 20

WRITTEN BY Kurt Gallon

Top losers

Enable Midstream Partners (ENBL) was the top loser among midstream MLPs at the end of trading on Friday, November 20. It fell 8.90%.

Enable Midstream Partners: Top Midstream MLP Loser on November 20

Enable Midstream Partners

With Friday’s loss, Enable Midstream Partners’ YTD (year-to-date) returns fell to -49.8%. Enable Midstream mainly provides natural gas gathering, processing, transportation, and storage services. On Friday, it fell due to the huge fall in natural gas prices.

Southcross Energy Partners

Southcross Energy Partners (SXE) is next on our list of the top five midstream MLP losers on November 20. It fell 8.4% on Friday. Southcross Energy Partners returned -72.4% YTD. Southcross Energy’s poor YTD market performance is due to its significant exposure to natural gas and NGLs (natural gas liquids). The partnership provides natural gas gathering, processing, treating, compression, and transportations services. Apart from this, Southcross Energy is also engaged in natural gas and NGL acquisition and marketing.

Other losers

American Midstream Partners (AMID), ONEOK Partners (OKS), and Plains All American Pipeline (PAA) were among the top five midstream MLP losers on Friday, November 20. They fell 7.6%, 5.7%, and 5% in the last trading session, respectively. For an in-depth analysis of Plains All American Pipelines’ recent performance, read Plains All American Misses 3Q15 Estimates, Lowers Guidance. American Midstream Partners, ONEOK Partners, and Plains All American Pipeline returned -57.8%, -22.10%, and -53.4%.

The Alerian MLP ETF (AMLP) and the JPMorgan Alerian MLP ETN (AMJ) fell 2.5% and 2.4% on Friday, respectively. Together, ONEOK Partners and Plains All American Pipeline account for 11.4% of AMLP. For context, the upstream energy company heavy SPDR S&P Oil & Gas Exploration & Production ETF (XOP) fell 2.30% on the same day.

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