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Most MLPs Ended in the Green for Week Ended September 1

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AMZ rose 2.4% last week

Most MLPs ended in the green last week, which ended on September 1, 2017, amid Hurricane Harvey and volatility in crude oil prices. Crude oil fell below $46 per barrel during the week. However, it recovered slightly by the end of last week with the start-up of a few refineries in the Gulf Coast. For a recent outlook on crude oil prices, read Why the Gain in Oil Prices Could Be Temporary.

The Alerian MLP Index (or AMZ), which tracks the performance of 50 energy MLPs, ended the week 2.4% higher. Of the total 96 MLPs, 78 ended in the green, one remained unchanged, and the remaining 17 ended in the red. MLPs rose last week despite the impact of Hurricane Harvey on MLP operations and volatility in crude oil prices. That might be attributed to their bounce back from overcorrection in the first three weeks last month.

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Among the top MLPs by market capitalization, Plains All American Pipeline (PAA), Energy Transfer Partners (ETP), Williams Partners (WPZ), and Enterprise Products Partners (EPD) rose 8.2%, 4.0%, 3.9%, and 0.90%, respectively. In the next part, we’ll look at last week’s stock performance drivers for PAA and other MLPs.

The Alerian MLP ETF (AMLP) rose 3.1%, outperforming both the SPDR S&P 500 ETF (SPY) and the Energy Select Sector SPDR ETF (XLE) last week. SPY and XLE rose 1.4% and 0.90%, respectively.

Fund flows

The Alerian MLP ETF continued to see net inflows of funds last week with a net inflow of $12.5 million. On the other hand, the JPMorgan Alerian MLP ETN (AMJ) saw a net outflow of $79.3 million during the same period.

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