Midstream stocks rose
Midstream stocks were largely positive last week. Plains All American Pipeline (PAA), Williams Companies (WMB), and ONEOK (OKE) rose 2.5%, 2.3%, and 1.9%, respectively. The Energy Select Sector SPDR ETF (XLE) rose 2.5% last week. Midstream stocks’ gains were supported by strong oil prices and strength in the broader markets. Crude oil prices rose ~4.4%, while the S&P 500 Index rose 2.9% last week.
To learn about the latest factors driving oil prices, read IEA Reveals a Big Surprise for Oil Bulls. The above graph compares the midstream stocks’ performances last week. Energy Transfer (ET) rose 1.6% last week. Enterprise Products Partners (EPD) rose 0.2%. To learn more about Enterprise Products Partners’ performance and prospects, read Enterprise Products Partners Stock Is Trading Range-Bound.
Top gains and losses
Altus Midstream (ALTM) rose 17.1%, while Hi-Crush Partners (HCLP) rose 14.9%. EQM Midstream Partners (EQM), Equitrans Midstream (ETRN), and EnLink Midstream (ENLC) were among the other top gains. They rose 8.4%, 8.0%, and 7.5%, respectively.
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