The Weakest MLPs in the Week Ended July 20

Legacy Reserves

Legacy Reserves (LGCY), an upstream MLP involved in crude oil, natural gas, and NGLs (natural gas liquids) production, was the weakest MLP in the week that ended on July 20. LGCY fell 15.4%.

The partnership’s fall can be attributed to weakness in crude oil and natural gas prices. Despite its recent weakness, LGCY is up 224.2% in 2018 so far.

The Weakest MLPs in the Week Ended July 20

Blueknight Energy Partners

Blueknight Energy Partners (BKEP), a midstream MLP involved in crude oil and refined product terminaling and storage, was the second-weakest MLP last week. BKEP fell 10.0%. Overall, the partnership has fallen 42.6% since the start of this year.

Buckeye Partners

Buckeye Partners (BPL) was the third-weakest MLP last week. It ended the week 8.8% lower. BPL saw a sharp plunge after Moody’s changed its outlook from “stable” to “negative” due to an expected rise in its leverage and weak distribution coverage. BPL has fallen 33.2% year-to-date. This can be attributed to weak earnings, low distribution coverage, contract expiration, and project delays.

Other MLP lowest performers

Hi-Crush Partners (HCLP), Kimbell Royalty Partners (KRP), Black Stone Minerals (BSM), Ferrellgas Partners (FGP), Seadrill Partners (SDLP), EQT GP Holdings (EQGP), and Emerge Energy Services (EMES) were among the top ten worst-performing MLP stocks last week.