Stocks that fell the most
Midstream MLP NuStar Energy (NS), royalty interest owner Viper Energy Partners (VNOM), and downstream MLP CVR Refining (CVRR) fell 8.9%, 8.6%, and 7.7%, respectively, last week. Cheniere Energy Partners (CQP) fell 6.9% for the week. Credit Suisse initiated coverage on Cheniere Energy Partners with an “underperform” rating, which contributed to the stock’s fall.
Magellan Midstream Partners fell 6.2%
Magellan Midstream Partners (MMP) fell 6.2% last week. Credit Suisse started coverage on Magellan Midstream Partners with a “neutral” rating. Credit Suisse gave Magellan Midstream Partners a target price of $77. Read EPD, MPLX, ETP, PAA: What Do Current Valuations Indicate? to learn how Magellan Midstream Partners’ current valuation compares with its peers.
Next, we’ll discuss key MLP and midstream rating updates last week.