Midstream Stocks Were the Outperformers Last Week


Aug. 13 2018, Published 1:07 p.m. ET

Energy stocks

On August 3–10, midstream stock TC PipeLines (TCP) saw the highest gain on our list of energy stocks. In fact, the Alerian MLP ETF (AMLP) fell 0.6%—the second lowest decline among major energy subsector ETFs during this period, as we discussed in the previous part.

We created our list of energy stocks from the following energy subsector ETFs and a few integrated energy stocks—the SPDR S&P Oil & Gas Exploration & Production ETF (XOP), the Energy Select Sector SPDR ETF (XLE), the Alerian MLP ETF (AMLP), and the VanEck Vectors Oil Services ETF (OIH).

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Other large gainers

EQT Midstream Partners (EQM) and NuStar Energy (NS) were the second and fifth-largest gainers on our list of energy stocks last week. On August 7, NuStar Energy announced a net income of $13.7 million applicable to common limited partners in the second quarter—compared to $4.4 million in the second quarter of 2017.

Upstream stocks, Southwestern Energy (SWN) and Callon Petroleum (CPE) were the third and fourth-largest gainers on our list of energy stocks last week. Southwestern Energy operates with a production mix of ~86% in natural gas. On August 3–10, natural gas prices rose 3.2%.

On August 6, Callon Petroleum announced its second-quarter earnings results. Since then, Callon Petroleum closed higher most of the days. The company reported an adjusted net income of $0.21 per diluted share for the second quarter—compared to analysts’ consensus estimate for an income of $0.22 per share.

Energy commodities and the broader market

During the week ending August 10, US crude oil September futures fell 1.3%, while natural gas September futures rose 3.2%. The S&P 500 fell 0.2% during this period. The top five energy gainers outperformed the energy commodities and equity markets last week.

Next, we’ll discuss oil ETFs’ price performance.


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