Most of the MLPs and midstream stocks ended last week with gains due to strong oil prices, which we discussed in the previous part. Among the top gains, NGL Energy Partners (NGL) rose 25.7% for the week. The MLP announced strong fourth-quarter results on February 11. Another high-yield MLP, Genesis Energy (GEL) rose 10% last week. Genesis Energy is scheduled to report its fourth-quarter results on February 20.
The above chart shows the top MLP and midstream gains last week. SemGroup (SEMG) rose 10.1% last week. Viper Energy Partners (VNOM) and Kimbell Royalty Partners (KRP) rose 9.8% and 8.4%, respectively.
Among the selected MLPs and midstream corporations with a market capitalization above $500 million, AmeriGas Partners (APU) and Global Partners (GLP) were the only losses last week.
Hi-Crush Partners (HCLP), Cheniere Energy (LNG), Williams Companies (WMB), and Magellan Midstream Partners (MMP) were among the stocks that underperformed. However, the stocks were in the green last week. Phillips 66 Partners (PSXP) rose 2% last week.
The above chart shows the top underperformers last week. Next, we’ll discuss the rating updates for Phillips 66 Partners last week.