AM, NGL, AMGP, and SPH Outperformed Last Week

On October 9, Antero Midstream Partners (AM) and Antero Midstream GP (AMGP) announced a simplification transaction. Antero Midstream GP will acquire all of the outstanding units of Antero Midstream Partners. As part of the transaction, Antero Midstream GP will convert into a C corporation and be renamed as “Antero Midstream Corporation.” Antero Midstream Partners and Antero Midstream GP stocks rose after the announcement. To learn more, read Antero Midstream to Buy Antero Midstream Partners.

On October 12, Barclays cut its rating for Antero Midstream Partners from “overweight” to “equal weight.” Barclays raised its target price for the stock from $33 to $36. On October 10, Baird cut its target price for Antero Midstream Partners from $51 to $49.

Of the 12 analysts surveyed by Reuters that cover Antero Midstream Partners, six rated the stock as a “strong buy,” three rated it as a “buy,” and three rated it as a “hold.”

The above graph shows the top MLP and midstream outperformers last week. NGL Energy Partners (NGL) rose 2.9% for the week. Suburban Propane Partners (SPH) rose 0.9% last week.

Western Gas Equity Partners (WGP) and Western Gas Partners (WES) rose 0.5% and 0.3%, respectively, last week.

Next, we’ll discuss which MLP and midstream stocks fell the most last week.