Calumet Specialty Products Partners
Calumet Specialty Products Partners (CLMT), an MLP involved in the production of specialty fuels and other refined products, was the top MLP gainer in the week ending June 1. Calumet Specialty Products Partners rallied 23.9%. Last week, the gains could have been due to strong refined products demand during Memorial Day weekend and the start of the summer driving season. Calumet Specialty Products Partners has traded in the green for 2018 following last week’s rally. Calumet Specialty Products Partners has risen 11.0% YTD (year-to-date).
NuStar Energy (NS) and NuStar GP Holdings (NSH), were among the top three MLP gainers last week. NuStar Energy and NuStar GP Holdings rallied 12.3% and 11.7% last week. NuStar Energy’s gains could be attributed to strong drilling activity in the Permian Basin. The strong Permian production activity is expected to drive NuStar Energy’s transportation, terminaling, and logistics throughput volumes. Despite last week’s rally, NuStar Energy and NuStar GP Holdings have fallen 15.2% and 12.1% in 2018.
EnLink Midstream Partners
EnLink Midstream Partners (ENLK) and EnLink Midstream (ENLC) were the fourth and fifth-highest MLP gainers last week. They ended the week 11.5% and 10.7% higher. Similar to NuStar Energy, EnLink Midstream Partners’ rally last week could be attributed to its strong exposure to the Delaware Basin. The Delaware Basin is part of the Permian region. Overall, EnLink Midstream Partners and EnLink Midstream have gained 15.4% and 2.6% YTD.