Plains All American Pipeline

Plains All American Pipeline (PAA) was the biggest MLP loser last week, which ended on January 19, 2018. The partnership ended the week 6.1% lower. PAA’s plunge last week’s could be mainly due to the slight decline in crude oil prices and rating downgrade. PAA’s GP (general partner), Plains GP Holdings (PAGP), was also among the biggest MLP losers last week. It fell 5.6%. PAA and PAGP have lost 27.9% and 31.0%, respectively, over the past year.

Why PAA Was the Biggest MLP Loser Last Week

Archrock Partners

Archrock Partners (APLP), an MLP involved in contract compression services, was the third-biggest MLP loser last week. It fell 5.5%. Similar to PAA, APLP’s weakness last week could be due to its rating downgrade. APLP has seen three rating downgrades following the announcement of its acquisition by Archrock (AROC). AROC is APLP’s sponsor. Despite the recent decline, APLP has risen 16.5% YTD (year-to-date).

Genesis Energy

Genesis Energy (GEL), a midstream MLP mainly involved in crude oil and refined products transportation, terminaling, and logistics, was the fourth-biggest MLP loser last week. GEL ended the week 5.4% lower. GEL has lost 32.4% over the past year, which could be due to the partnership’s weak earnings, relatively high commodity price exposure, and high leverage.

Other big MLP losers

Enable Midstream Partners (ENBL), CNX Midstream Partners (CNXM), Seadrill Partners (SDLP), CVR Partners (UAN), Western Gas Equity Partners (WGP), and EQT GP Holdings (EQGP) were among the big ten MLP losers last week.

In the next part of this series, we’ll look into last week’s top MLP gainers.

Latest articles

Yesterday, Goldman Sachs' strategist warned of high volatility in October. Based on Goldman Sachs' data, since 1928 volatility in October is 25% higher.

On September 19, at Delivering Alpha Conference, Jim Chanos said Grubhub (GRUB) is a very good short. He said that Guruhub is almost not making any money.

The Chinese delegation canceled planned goodwill visits to US farms because of trade war escalations. This affected markets yesterday.

Tesla (TSLA) CEO Elon Musk is one of the most widely followed billionaires on Twitter. His love for Twitter is no secret.

The pace that internet video streaming has evolved is nothing short of revolutionary. Streaming is a serious threat to the cable TV industry.

Marathon Petroleum (MPC) stock has been tumbling in Q3, driven by geopolitical tensions, oil price uncertainty, and weaker refining conditions.