11 Mar

Midstream Stocks Outperformed Broader Markets Last Week

WRITTEN BY Rekha Khandelwal, CFA

Midstream stocks last week

Midstream stocks and MLPs broadly outperformed the broader markets last week. The Alerian MLP Index was flat while the S&P 500 Index fell 2.2% for the week. US crude oil prices rose ~0.5% during the week. Learn about the longer-term trends in crude oil prices in Why Crude Oil Prices Drive Midstream Stocks. Among the top stocks, Enterprise Products Partners (EPD) rose 1.0%.

Midstream Stocks Outperformed Broader Markets Last Week

Energy Transfer (ET), Magellan Midstream Partners (MMP), and Williams Companies (WMB) fell 1.1%, 2.6%, and 1.8%, respectively. Kinder Morgan (KMI) fell 0.1%. The Energy Select Sector SPDR ETF (XLE), which represents the broader energy sector, fell 3.8%. The above graph compares the performance of top midstream stocks last week.

Enterprise Products Partners, Energy Transfer, Magellan Midstream Partners, and Williams Companies have risen 14%, 12%, 5%, and 22%, respectively, year-to-date. Kinder Morgan has risen ~30% in 2019 while the Alerian MLP Index has risen ~14% on a total return basis. The Energy Select Sector SPDR ETF is up 11%.

Canadian midstream giant Enbridge (ENB) fell ~4.0% last week after announcing a delay in its Line 3 Replacement project. Let’s next take a look at the biggest gains and losses in the MLP and midstream space last week.

Latest articles

After Aurora Cannabis's Q1 earnings release on Thursday, its stock closed at $3.29 on the NYSE, 7.32% lower than the previous day.

Beyond Meat stock rose 1.8% on November 14 after Berenberg initiated coverage on it with a “buy” rating. Berenberg gave it a price target of $100.

With a year-to-date return of 21.9%, JetBlue Airways (JBLU) stock is one of the airline industry's top performers. Here are analysts' views on the stock.

In today’s Get Real, we saw Facebook's latest scandal, a new deal for Netflix, and AMD's game plan. Plus, a trader's guide to the commodities market.

JD.com (JD) shares are trading close to 3% higher in early market trading. The company announced its third-quarter results today.

Microsoft recently secured a $10 billion Pentagon contract. It beat out cloud computing leader Amazon, which is contesting the results.