TCP and CVRR
TC PipeLines (TCP) fell 7.5% last week. The stock has fallen 41% year-to-date. It fell significantly in March following the FERC (Federal Energy Regulatory Commission) ruling relating to cost recoveries for FERC-regulated interstate MLP pipeline rates. It then fell again in May following a distribution cut.
Other big losses
Noble Midstream Partners (NBLX) fell 6.1% and SemGroup (SEMG) fell 5.6% in the last week. Noble Midstream Partners has fallen 26% year-to-date. The above graph shows the biggest MLP and midstream losses in the last week.
Buckeye Partners (BPL) fell 4.8%. The stock is trading at a high yield of 14%. Learn more in Which MLPs Offer the Highest Yields? Western Gas Partners (WES) and its GP (general partner) Western Gas Equity Partners (WGP) fell 4.7% and 3.9%, respectively. Western Gas Partners and Western Gas Equity Partners are down 7% and 17%, respectively, so far in 2018.
Genesis Energy (GEL) fell 3.2% in the last week. The stock is up 6% year-to-date. Kimbell Royalty Partners (KRP) fell 3.7%.
Next in this series, let’s take a look at ratings and price target updates for midstream companies last week.