Southcross Energy Partners: Top Midstream MLP Loser on November 5


Nov. 6 2015, Published 1:51 p.m. ET

Top losers

In the previous article of this series, we saw the top five midstream MLP (master limited partnership) gainers on Thursday, November 5. In this article, we’ll talk about the top five midstream MLP losers on the same day.

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Southcross Energy Partners

Southcross Energy Partners (SXE) was the top loser among midstream MLPs at the end of trading on Thursday, November 5. SXE plunged 11.2% yesterday. It has returned -65.6% YTD (year-to-date). SXE’s poor YTD market performance could be due to its significant exposure to natural gas and NGLs (natural gas liquids) prices. The partnership mainly provides natural gas gathering, processing, treating, compression, and transportations services. SXE is also engaged in natural gas and NGL acquisition and marketing.

Cone Midstream Partners

Next in our list of the top five midstream MLP losers on November 5 is Cone Midstream Partners (CNNX). It fell 7.4% yesterday. With this loss, CNNX’s YTD returns fell to -46.19%. Cone Midstream owns and operates natural gas gathering and other midstream assets in the Marcellus Shale region.

Other losers

American Midstream Partners (AMID), TransMontaigne Partners (TLP), and Enable Midstream Partners (ENBL) were among the top five midstream MLP losers on Thursday, November 5. AMID, TLP, and ENBL lost 5.5%, 4.7%, and 4.1% in the last trading session, respectively. They’ve returned -44.7%, -6.8%, and -42.7% YTD, respectively.

The Alerian MLP ETF (AMLP) and the Credit Suisse X-Links Cushing MLP Infrastructure ETN (MLPN) have returned -21.7% and -30.9% YTD. For context, consider that the upstream energy company–heavy SPDR S&P Oil & Gas Exploration & Production ETF (XOP) has returned -18.1% year-to-date.


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