JP Energy Partners: Top Midstream MLP Loser on November 2

Kurt Gallon - Author

Nov. 3 2015, Published 9:29 a.m. ET

Top losers

In the last part, we saw the top five midstream MLP gainers on Monday, November 2. In this part, we’ll discuss the top five midstream MLP losers on the same day.

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JP Energy Partners

JP Energy Partners (JPEP) was the top loser among midstream MLPs at the end of trading on Monday, November 2. It fell 5.9% yesterday. With yesterday’s loss, JP Energy Partners’ YTD (year-to-date) returns fell to -39.0%. Its poor YTD market performance is due to its stagnant distribution growth, volatile cash flows, and low distribution coverage. The partnership is involved in natural gas and NGL (natural gas liquid) transportation and storage.

Antero Midstream Partners

Antero Midstream Partners (AM) is next on our list of the top five midstream MLP losers on November 2. It fell 3.1% yesterday. It has returned -16.0% YTD. Antero Midstream might bounce back considering its solid distribution growth and guidance. It declared a distribution per unit of $0.21 for 3Q15. This represents an 8% rise over the prior quarter. According to the company, the partnership also “Increased 2015 EBITDA guidance by 6% to $180 to $190 million and distributable cash flow guidance by 6% to $160 to $170 million.”

Antero Midstream provides natural gas gathering and compression services to its sponsor—Antero Resources (AR)—under long-term, fixed-fee contracts.

Other losers

Enable Midstream Partners (ENBL), Western Refining Logistics (WNRL), and Dominion Midstream Partners (DM) were among the top five midstream MLP losers on Monday, November 2. They fell 3%, 1.7%, and 1.6% in the last trading session, respectively. They have returned -39.8%, -16.4%, and -17.8% YTD, respectively.

The Alerian MLP ETF (AMLP) and the Yorkville High Income MLP ETF (YMLP) have returned -21.5% and -29.7% YTD. For context, the upstream energy company heavy SPDR S&P Oil & Gas Exploration & Production ETF (XOP) has returned -20.6% YTD.


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