MLPs that fell the most
In the week ending October 5, the MLPs that fell the most were a diverse mix. Royalty interest owner Dorchester Minerals (DMLP), midstream MLP NGL Energy Partners (NGL), downstream player CVR Refining (CVRR), and frac sand company Hi-Crush Partners (HCLP) were among the top losses last week. Other MLPs that fell last week included Calumet Specialty Products Partners (CLMT) and Suburban Propane Partners (SPH).
Hi-Crush Partners and CVR Refining
The above graph shows the top MLP and midstream losses last week. A downgrade by Barclays caused CVR Refining to fall last week. Similarly, Hi-Crush Partners saw two downgrades last week.
Cheniere Energy (LNG) fell 4.2% for the week. Cheniere Energy has risen ~22% year-to-date. To learn more about the stock’s recent performance, read Cheniere Energy Reached a 52-Week High. Hoegh LNG Partners (HMLP) fell 0.5% last week.
All of the top losses last week, except Cheniere Energy, were small-cap stocks with market caps less than $3.5 billion.
Next, we’ll discuss key MLP and midstream rating updates last week.