16 Jan

Top MLP Losers in the Week Ending January 12

WRITTEN BY Kurt Gallon

Ferrellgas Partners

Ferrellgas Partners (FGP) was the top MLP loser in the week ending January 12, 2017. The partnership ended the week 11.5% lower. Its weakness last week, despite strong propane demand and propane prices, could be attributed to its rating downgrade and downward target price revision by Citigroup.

Top MLP Losers in the Week Ending January 12

Ferrellgas Partners has lost 52.1% in the past year. It could be attributed to Ferrellgas Partners’ rising leverage, distribution cuts, and weakness in its midstream business. Another propane MLP, Suburban Propane Partners (SPH) was among the top MLP losers last week. It fell 3.0% last week. However, Suburban Propane Partners continues to trade in the positive territory in 2018.

Sprague Resources

Sprague Resources (SRLP), an MLP involved in wholesale marketing and distribution of natural gas and refined products, was the second-highest MLP loser last week—it fell 2.5%. Sprague Resources has lost 7.8% in the past year. Sprague Resources’ weak market performance could be attributed to its weak operating performance. Sprague Resources reported an adjusted EBITDA of $14.0 million in 3Q17—compared to $19.3 million in 3Q16. Its adjusted EBITDA fell 27.1% YoY (year-over-year).

Holly Energy Partners

Holly Energy Partners (HEP), a midstream MLP owned by HollyFrontier (HFC), was the fourth-highest MLP loser last week. It fell 2.2% during the week. Holly Energy Partners has lost 6.1% in the past year.

Other top MLP losers

Delek Logistics Partners (DKL), Blueknight Energy Partners (BKEP), CVR Partners (UAN), Hoegh LNG Partners (HMLP), Green Plains Partners (GPP), and AmeriGas Partners (APU) were among the top ten MLP losers last week.

Next, we’ll discuss the MLP rating updates last week.

Latest articles

German chip maker Infineon Technologies has reportedly raised 1.55 billion euros (~$1.74 billion) in capital by selling its shares to fund its acquisition of Cypress Semiconductor (CY). Infineon has sold ~113 million new shares at 13.70 euros each.

As of June 18, Dunkin’ Brands (DNKN) was trading at $80.07, an 8.9% rise since reporting its first-quarter earnings on May 2. Also, DNKN was trading at a premium of 29.8% from its 52-week low of $61.69 and a discount of 1.6% from its 52-week high of $81.40.

19 Jun

Are Lower Oil Prices Weighing on ExxonMobil Stock?

WRITTEN BY Maitali Ramkumar

ExxonMobil (XOM) stock has fallen 7.1% in the second quarter so far. Let's review ExxonMobil's stock performance in comparison to oil price changes and equity market movements in the quarter.

19 Jun

As Facebook Unveils Libra, MSFT and CRM Join a Blockchain Group

WRITTEN BY Mayur Sontakke, CFA, FRM

On June 18, Facebook (FB) launched Libra, its own cryptocurrency. On the same day, CoinDesk published another piece of blockchain news that didn’t receive as much fanfare as Facebook’s Libra news. Was the timing a coincidence? We think not.

Uber Technologies (UBER) has picked Melbourne as another test site for its flying taxi service known as UberAir. The Australian city is the first international test site Uber has chosen for its flying taxi service. The addition of Melbourne brings the number of test locations Uber has picked for its UberAir service to three.

Lyft (LYFT) and Uber Technologies (UBER) are pushing back against California legislation that would require them to recognize their drivers as employees rather than independent contractors. The legislation would require companies like Lyft to give their drivers the compensation and benefits spelled out under California’s employment regulations.

172.31.71.127