Midstream stocks rose
The top midstream sector stocks including Energy Transfer (ET), MPLX (MPLX), and Kinder Morgan (KMI) rose during the week ending February 1. Energy Transfer and MPLX each rose 4.9%. ONEOK (OKE) rose 4.4%, while Kinder Morgan rose 3.4% last week. Magellan Midstream Partners (MMP) was the only stock among the selected stocks that ended the week lower.
The above graph shows top midstream stocks’ performance last week. Enterprise Products Partners (EPD) rose 1.7%, Williams Companies (WMB) rose 2.8%, and Plains All American Pipeline (PAA) was flat last week.
The Alerian MLP Index rose 1.7% on a total return basis. The broader market rose 1.6%, while crude oil prices rose ~3.0% last week. To learn more about which factors are driving crude oil prices, read US Crude Oil Might Continue to Rise in February. The Energy Select Sector SPDR ETF (XLE) rose 3.1% last week.
Enterprise Products reported strong fourth-quarter earnings on January 31. To learn more, read EPD Announces Q4 Earnings, Expected 2019 Distribution Growth Rate. Magellan Midstream Partners also reported its earnings on January 31. We’ll take a look at the stock’s yield later in this series. Plains All American Pipeline is scheduled to report its earnings on February 5. MPLX is scheduled to report its earnings on February 7.
Next, we’ll discuss the top gains and losses in the MLP and midstream sector last week.