Top MLP Losses in the Week Ending June 8


Nov. 20 2020, Updated 2:29 p.m. ET

Viper Energy Partners

In the week ending June 8, Viper Energy Partners (VNOM), a royalty and mineral interest owner MLP, continued to be among the top MLP losses for the second consecutive week. Viper Energy Partners fell 9.5% last week. The partnership’s sharp decline last week could be due to its rating downgrade by Stifel and weakness in crude oil prices.

Overall, Viper Energy Partners has risen 18.0% since the beginning of 2018. The partnership could be one of the biggest MLP gainers if crude oil gains from here. To learn more, read Biggest MLP Gainers If Crude Oil Reaches $80.

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EnLink Midstream

EnLink Midstream (ENLC), a GP of EnLink Midstream Partners (ENLK), was the second-highest MLP loss last week. EnLink Midstream fell 6.9%. EnLink Midstream was also among the top MLP losses with a 5.4% decline. EnLink Midstream and EnLink Midstream Partners saw a steep decline last week. Devon Energy (DVN) announced an entire stake sale in the midstream business. Devon Energy has agreed to sell all of its interest in EnLink Midstream and EnLink Midstream Partners to Global Infrastructure Partners, a global infrastructure fund manager, in a deal valued at $3.125 billion.

According to Michael J. Garberding, EnLink Midstream’s CEO, “Our new, long-term strategic partnership with GIP will continue EnLink’s strong momentum, build upon our core strengths, and add to our robust growth outlook. GIP has significant expertise and experience in the midstream industry that will enhance and elevate our growth plans.”

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Blueknight Energy Partners

Blueknight Energy Partners (BKEP), a midstream MLP mainly involved in liquid transportation, terminaling, and storage, was the third-highest MLP loss last week. Blueknight Energy Partners fell 6.6%. Overall, Blueknight Energy Partners has lost 30.4% since the beginning of 2018.

Other top MLP losses

Dorchester Minerals (DMLP), Teekay Offshore Partners (TOO), Ferrellgas Partners (FGP), CVR Partners (UAN), CrossAmerica Partners (CAPL), and Valero Energy Partners (VLP) were among the top ten MLP losses last week.


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