Lowest-Performing MLPs in Week Ended July 27

American Midstream Partners

American Midstream Partners (AMID), a midstream MLP involved in natural gas gathering, processing, and compression, was the lowest-performing MLP in the week ended July 27. AMID stock plunged 41.1% last week. It saw a sharp correction following its announcement of a capital allocation strategy, which includes the sale of non-core assets and a distribution cut.

AMID declared a distribution of $0.10131 per share for the second quarter of 2018. That represents a 24.6% decrease compared to the previous quarter’s distribution of $0.4125 per share. AMID has fallen 50.6% YTD (year-to-date).

Lowest-Performing MLPs in Week Ended July 27

Dominion Midstream Energy Partners

Dominion Midstream Energy Partners (DM), which was the top MLP gainer in the week ended July 20, was the second-weakest MLP last week with a week-over-week decline of 7.3%. It saw some profit booking last week after a massive rally following the FERC’s (Federal Energy Regulatory Commission) announcement of the final policy rule. Year-to-date, DM has fallen 49.6%.

EQT and general partner holdings

EQT Midstream Partners (EQM) and its general partner, EQT GP Holdings (EQGP), were among the weakest MLPs last week, falling 5.5% and 6.1%, respectively. Last week’s decline could be attributed to the postponement of EQM’s ambitious Mountain Valley Pipeline project and price target cuts. Year-to-date, EQM and EQGP have fallen 29.2% and 15.2%, respectively.

Other low-performing MLPs

CVR Partners (UAN), USA Compression Partners (USAC), Dorchester Minerals (DMLP), Martin Midstream Partners (MMLP), Legacy Reserves (LGCY), and Star Gas Partners (SGU) were among the top ten lowest-performing MLP stocks last week.

In the next part, we’ll look at last week’s MLP rating updates.