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

On June 25, the soft economic data isn't an isolated case. We have been getting a flurry of dismal data points. The US economy added only 75,000 non-farm jobs in May.

French retail giant Carrefour has agreed to sell an 80% stake in its China operations for ~$705 million to Suning.com, an Alibaba (BABA) backed company. While China represents a massive opportunity with its almost 1.4 billion population, it has not been an easy market for foreign companies, at least when it comes to retail and e-commerce.

On June 25, US Secretary of Agriculture Sonny Perdue told CNN in an interview that the US-China trade war has impacted US farmers. He said that farmers “are one of the casualties” of the trade war.

25 Jun

Hang Seng and Nikkei 225 Lose amid Trade Worries

WRITTEN BY Mayur Sontakke, CFA, FRM

After rising marginally yesterday, Hong Kong’s Hang Seng Index fell today. The index lost 1.15% to end at 28,185.98. Only seven stocks in the index rose, while 39 declined. Four remained unchanged. Tencent Holdings (TCEHY) was one of the worst performers with a 1.8% fall.

Square (SQ) was absent from the list of the inaugural members of the Libra Association, the entity that will ensure that Facebook’s (FB) Libra cryptocurrency works as intended. Nearly 30 companies have joined the Libra Association.

Kroger (KR) stock fell 2.2% on June 20—the day the company announced its results for the first quarter, which ended on May 25. The negative sentiment for the stock continued.

172.31.16.229