Martin Midstream Partners
Martin Midstream Partners (MMLP), a midstream MLP involved in pipeline transportation, marine transportation, terminaling, and petroleum product storage, was the top MLP gainer last week. It rose 14.0% last week. However, Martin Midstream Partners is still trading 18.0% below the levels at the beginning of the year. Last week, its gains were mainly due to the recovery from its 52-week low.
Navios Maritime Midstream Partners
Marine transportation was the best performing MLP subsector last week. Four out of the top ten MLP gainers were marine transportation MLPs. The gainers included Navios Maritime Midstream Partners (NAP), Golar LNG Partners (GMLP), Teekay LNG Partners (TGP), and Teekay Offshore Partners (TOO). Navios Maritime Midstream Partners is mainly involved in the marine transportation of refined products, crude oil, and NGLs (natural gas liquids). It was the second-highest MLP gainer last week. Navios Maritime Midstream Partners ended the week 10.6% higher. For a recent update on the US tanker industry, read China’s November Data and the Crude Tanker Industry.
NuStar GP Holdings
NuStar GP Holdings (NSH) was among the top MLP losers in the week ending December 8, 2017. It bounced back last week. NuStar GP Holdings, the general partner of NuStar Energy (NS), was the fifth-highest MLP gainer last week with a gain of 7.9% week-over-week. However, NuStar GP Holdings is still trading 48% below the levels at the beginning of the year. NuStar GP Holdings is among the MLPs with the top upside potential. To learn more, read Ranking MLPs Trading at a DETP Discount to Target Prices.
Other top MLP gainers
Archrock Partners (APLP), Energy Transfer Partners (ETP), Shell Midstream Partners (SHLX), and Tesoro Logistics (TLLP) were among the top MLP gainers last week with gains of 7.0%, 6.3%, 6.0%, and 5.8%, respectively, week-over-week.
Next, we’ll discuss the top MLP losers last week.
Energy Transfer Partners rose above its short-term 50-day simple moving average after last week’s gain. It might indicate bullish sentiment in the stock.
Broadcom (AVGO) stock fell ~8.5% after markets closed yesterday following the semiconductor giant's fiscal 2019 second-quarter earnings release. It missed analysts' revenue estimate and cut its fiscal 2019 revenue guidance by $2 billion to $22.5 billion due to sluggishness in its semiconductor solutions business.
The SPDR Gold Shares ETF (GLD), which tracks physical gold prices, has underperformed the broader markets year-to-date, rising just 4.4% compared to the S&P 500’s (SPY) gain of 15.9% as of June 14. The sentiment for gold, however, has been turning around.
Safe havens such as Treasuries and gold were back in favor on June 14 as stocks fell due to rising tensions in the Middle East, concerns over growth, and the looming threat of the US-China trade war. The tech-heavy Nasdaq Composite Index fell 0.67% in the first hour of trading.
Lululemon (LULU) stock rose 2.1% on June 13 in reaction to better-than-expected first-quarter results and an upgraded outlook for fiscal 2019 overall. The company's first-quarter adjusted EPS grew 34.5% to $0.74 on revenue growth of 20.4% to $782.32 million. Analysts had expected EPS of $0.70 and revenue of $755.31 million. Here's why the outlook got an upgrade.
As of 4:40 AM Eastern Time today, US crude oil active futures were at $51.83, ~4% below their closing level in the previous week. If US crude oil prices stay at those levels today, they'll mark their third week of decline in five weeks.
Kimberly-Clark (KMB) stock has risen 20.5% this year, boosted by the company’s better-than-expected sales and earnings during its last reported quarter. However, its stock could stop climbing. Here's why.