The MLPs that outperformed last week
Downstream MLP CVR Refining (CVRR) rose 1.4% for the week. The refiner reported strong third-quarter results on October 24. You can learn more in Higher Refining Margins Drove CVR Refining’s Q3 Earnings.
The graph above shows the top MLP and midstream stocks that outperformed amid the broader market turmoil in the last week. Suburban Propane Partners (SPH) ended the week flat.
Valero Energy Partners (VLP), Crestwood Equity Partners (CEQP), and Alliance Resource Partners (ARLP) fell for the week but outperformed the energy sector. As we discussed in the first part of this series, the Energy Select Sector SPDR ETF (XLE) and the Alerian MLP Index fell 7.1% and 6.5%, respectively, for the week. Crestwood Equity Partners has risen ~47.0% year-to-date.
Valero Energy (VLO)—Valero Energy Partners’ parent company—reported strong third-quarter results on October 25. Valero Energy announced an agreement to acquire Valero Energy Partners, which is expected to close soon.