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Midstream Stocks Gained for the Third Straight Week

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Jan. 23 2019, Published 8:39 a.m. ET

Midstream stocks gained

Midstream stocks and MLPs continued to gain in the third week of 2019. The Alerian MLP Index rose 1.9% in the week ending January 18. In comparison, the Energy Select Sector SPDR ETF (XLE) rose 3.0%, while the S&P 500 Index rose 2.9% for the week. In 2019, the Alerian MLP Index has risen ~12.3% and outperformed the broader market.

Crude oil prices rose 4.3% last week. Crude oil prices have risen ~18.5% in 2019 and recovered from their December’s losses. To learn more, read Oil Traders: Goldman Sachs Expects a Slowdown.

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Top midstream stocks

ONEOK (OKE), Williams Companies (WMB), and Kinder Morgan (KMI) rose 5.7%, 5.4%, and 5.3%, respectively, last week. MPLX (MPLX) rose 2.9%. In comparison, Energy Transfer (ET) fell 3.1% for the week. Energy Transfer has risen 10.3% YTD (year-to-date). Kinder Morgan has risen 17.1%, while Williams Companies has risen 19.7% YTD.

So far, the rise in oil prices has contributed to midstream stocks’ performance in 2019. The fourth-quarter performance might drive the sentiments for the sector in the next few weeks. Kinder Morgan reported its results on January 16. For a brief overview of the company’s earnings, read Highlights from Kinder Morgan’s Fourth-Quarter Earnings.

Enterprise Products Partners (EPD) and Magellan Midstream Partners (MMP) are scheduled to report their fourth-quarter results on January 31.

Next, we’ll discuss the top gains last week.

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