
PAA, WMB, and OKE: Midstream Stocks Rose Last Week
By Rekha Khandelwal, CFAUpdated
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
Among the top losses in the MLP and midstream space, Summit Midstream Partners (SMLP) fell 10.9% last week. Andeavor Logistics (ANDX) fell 4.7%, while Cheniere Energy Partners (CQP) fell 4.2%.
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.
For the latest coverage on energy sector stocks, visit Market Realist’s Energy and Power page.