EnLink Midstream Partners (ENLK) rose 7.7% last week. The stock has gained substantially since its strong second-quarter results and is up 18% year-to-date. ENLK’s general partner, EnLink Midstream (ENLC), rose 3.4% last week. Buckeye Partners (BPL) and Crestwood Equity Partners (CEQP) were the other top MLP gainers for the week, rising 4.2% and 3.1%, respectively.
Western Gas Partners (WES) and GP Western Gas Equity Partners (WGP) rose 2.1% and 2.7%, respectively. WES has risen ~1% so far in 2018, and WGP has fallen ~11%. The above graph shows the top MLP gainers last week. The Alerian MLP Index ended flat for the week.
DM and TCP
Dominion Energy Midstream Partners (DM) and TC Pipelines (TCP), the two MLPs that were hit hard by the FERC’s (Federal Energy Regulatory Commission) tax allowance policy revision, rose 2.4% and 1.6%, respectively, last week. Dominion Midstream Partners has fallen 45%, and TC Pipelines has fallen 37% year-to-date.
In the next part, we’ll look at the MLPs and midstream companies that fell last week.