Top MLP losers of 2016
Memorial Production Partners (MEMP), an upstream MLP, was the top MLP loser in 2016. MEMP has been battling weak liquidity and a poor balance sheet position for quite some time. The partnership is set to announce bankruptcy very soon.
For more details, please read Memorial Production Partners to File Bankruptcy: Key Highlights. Vanguard Natural Resources (VNR) is another upstream MLP among the top losers.
Calumet Specialty Products Partners (CLMT), a refining MLP, was the second-biggest loser of 2016. Refining MLPs, which benefited from lower crude oil prices and were among the top performers in 2015, were among the worst-performing MLP subgroups in 2016.
Refining MLPs were negatively impacted by the recovery in crude oil prices and lower refined product demand in 2016. Alon USA Partners (ALDW), a Texas-based refiner, was also among the worst-performing MLPs.