TCP, VLP, HCLP, CVRR: Who Gained and Who Lost Last Week?

VLP’s acquisition

On October 18, Valero Energy (VLO) announced an agreement to acquire Valero Energy Partners (VLP). Valero Energy Partners rose 6.8% on October 19. It rose 9.4% last week.

On October 17, TC PipeLines (TCP) announced its revised estimates for the impact of its tax-related changes. It now expects the changes to reduce its cash flow by $20 million–$30 million—half as much as its earlier estimate of $40 million–$60 million.

TCP, VLP, HCLP, CVRR: Who Gained and Who Lost Last Week?

TC PipeLines surged 11.6% last week. The above graph shows the MLP and midstream stocks that gained the most in the week. CVR Refining (CVRR) rose 5.4% in the period.

As we discussed in the previous article, ONEOK (OKE), Kinder Morgan (KMI), and Magellan Midstream Partners (MMP) were among the other top gainers last week.

TCP, VLP, HCLP, CVRR: Who Gained and Who Lost Last Week?

The underperformers

Hi-Crush Partners (HCLP) continued to fall last week. The stock fell 14.6% in the period, and it’s down 20% year-to-date. The stock has seen quite a few downgrades recently. Last week, Jefferies cut its rating for Hi-Crush Partners to an “underperform.”

Calumet Specialty Products Partners (CLMT) fell 6.3%, and EQT GP Holdings (EQGP) fell 4.3% in the week.

Next, let’s take a look at key MLP and midstream rating updates last week.