Cheniere Energy (LNG), Teekay LNG Partners (TGP), and Golar LNG Partners (GMLP) were among the top gainers in the MLP and midstream sector last week. Cheniere Energy rose 3.7% while TGP and GMLP rose 10.6% and 5.2%, respectively, in the last week. Other top gainers included Dorchester Minerals (DMLP), CVR Refining (CVRR), and American Midstream Partners (AMID), which rose 7.1%, 6.2%, and 5.0%, respectively.
The above chart shows the top ten MLPs and midstream companies in terms of stock returns last week. Sunoco (SUN) rose 4.7% in the last week.
These MLPs and stocks fell last week
Hi-Crush Partners (HCLP) fell 13.9% in the last week. The stock fell significantly following the announcement of the temporary idling of a frac sand facility.
The companies that fell the most included Kimbell Royalty Partners (KRP), Summit Midstream Partners (SMLP), and Western Gas Equity Partners (WGP), which fell 11.4%, 10.9%, and 7.1%, respectively. Enbridge Energy Management (EEQ) and Enbridge Energy Partners (EEP) fell 6.3% and 5.3%, respectively. The two companies are expected to complete the merger with parent Enbridge (ENB) in the fourth quarter of 2018.
There were quite a few rating updates by analysts on MLPs and midstream stocks. Let’s take a look at those next.