Ferrellgas Partners (FGP), which is involved in propane logistics and distribution, was the top MLP loser in the week ending September 22. Ferrellgas Partners fell 4.8% during the week. It has lost 21.3% YTD (year-to-date). Its peers, AmeriGas Partners (APU) and Suburban Propane Partners (SPH) have lost 10.4% and 19.0%, respectively, while Star Gas Partners (SGU) has risen 1.2%. For a comparative analysis of these propane MLPs, read APU, FGP, SPH, and SGU: Analyzing Prospects for the Propane MLPs.
Genesis Energy (GEL), the MLP mainly involved in crude oil transportation, logistics, and marketing, was the second-highest MLP loser in the week ending September 22. It fell 4.7% during the week. Genesis Energy has fallen 28.4% since the beginning of the year. Its weak YTD performance could be attributed to its weak earnings in the recent quarter due to declines at crude oil marketing, marine transportation, and refinery services businesses.
Tallgrass Energy Partners
Tallgrass Energy Partners (TEP), which mainly provides natural gas transportation, storage, gathering, and processing services, was the third-highest MLP loser last week. It fell 4.5% during the week. Last week’s fall pushed Tallgrass Energy Partners into negative territory. Now, it has fallen 2.3% in 2017.
Other top MLP losers
Western Gas Partners (WES), Alliance Holdings GP (AHGP), Mid-Con Energy Partners (MCEP), Tallgrass Energy GP (TEGP), TC PipeLines (TCP), Western Gas Equity Partners (WGP), and CONE Midstream Partners (CNNX) were among the top ten MLP losers last week.
In the next part, we’ll discuss the top ten MLP gainers last week.