Top MLP Losses in the Week Ending April 20


Nov. 20 2020, Updated 1:31 p.m. ET

Noble Midstream Partners

Noble Midstream Partners (NBLX), a midstream MLP formed by Noble Energy (NBL) to provide crude oil, natural gas, and water-related midstream services, was the top MLP loss last week. Noble Midstream Partners fell 5.6%. Noble Midstream Partners has lost 14.7% since the beginning of 2018. Noble Midstream Partners’ weakness amid strong gains in the midstream energy sector could be a sign of ensuing trouble for the partnership. For now, the partnership is expected to post strong fourth-quarter earnings. To learn more, read Noble Midstream Partners: 114% Earnings Growth Expected in 1Q18.

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CVR Partners

CVR Partners (UAN), an MLP involved in nitrogen fertilizer production including UAN, was the second-highest MLP loss last week. CVR Partners fell 3.2%. Last week, the partnership’s decline could be attributed to weakness in urea prices. To learn more, read Fertilizer Prices Were Lower in the Week Ended April 13.

Foresight Energy

Foresight Energy (FELP), an MLP involved in thermal coal production and marketing, was the third-highest MLP loss last week. Foresight Energy ended the week 3.1% lower. Overall, the partnership has lost 21.3% since the beginning of 2018. US coal stocks were still weak due to utilities’ switch towards natural gas as a cleaner burning fuel.

Other top MLP losses

Sanchez Midstream Partners (SNMP), Dominion Midstream Energy Partners (DM), Cypress Energy Partners (CELP), Alliance Resource Partners (ARLP), Teekay Offshore Partners (TOO), Alliance Holdings GP (AHGP), and Sprague Resources (SRLP) were among the top ten MLP losers last week.

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


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