Royalty interest owner partnership Viper Energy Partners (VNOM) and Enbridge Energy Management (EEQ) were among the top gainers in the MLP and midstream space last week, rising 7.9% and 7.8%, respectively. Viper Energy Partners has risen 77% so far in 2018. Enbridge Energy Partners (EEP) rose 2.4% for the week. Both Enbridge Energy Management and Enbridge Energy Partners were boosted by the acquisition agreement with Enbridge (ENB) that we discussed in the last part of this series.
OKE and LNG
Midstream C-corps ONEOK (OKE) and Cheniere Energy (LNG) rose 4.1% and 2.1%, respectively. ONEOK has risen 26% year-to-date. Learn more about ONEOK’s outperformance in KMI, WMB, and OKE: Which S&P 500 Midstream Stock Looks the Best? and TRGP and OKE Have Outperformed the Energy Sector in 2018.
On September 17, Cheniere Energy announced a 15-year agreement to supply liquified natural gas to Vitol Group. Cheniere Energy’s subsidiary Cheniere Energy Partners (CQP) rose 2.4% last week and has risen 33% so far in 2018.
The above graph shows the top ten MLP and midstream gains of the last week. Holly Energy Partners (HEP) rose 6.1%.
Let’s next take a look at the biggest MLP and midstream losses last week in the next part of this series.