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Which Midstream Stocks Generated the Most Returns in Q1?


Nov. 20 2020, Updated 2:21 p.m. ET

Stocks that generated the highest returns

NGL Energy Partners (NGL) generated total returns, including price appreciation and dividends, of ~50% in the first quarter. The stock rose from $9.6 on December 31 to $14.0 at the end of the first quarter. NGL Energy Partners is trading at a high yield of ~11.1%. NGL Energy Partners’ distribution coverage ratio for the trailing 12-month period ending in December 2018 improved to 1.05x from 0.68x for the same period in 2017. Strong fourth-quarter results and an improving coverage ratio supported the stock in the first quarter and helped it recover some of its earlier losses.

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EnLink Midstream (ENLC), Teekay LNG Partners (TGP), CrossAmerica Partners (CAPL), and NuStar Energy (NS) all generated total returns above 30% in the first quarter. Among the large capitalization stocks, Williams Companies (WMB) and Kinder Morgan (KMI) generated total returns above 30% for the quarter. The above graph shows the stocks that generated the highest and lowest total returns in the first quarter.

Stocks that generated the lowest returns

Only three of the selected midstream stocks, with a market capitalization higher than $500 million, generated negative total returns in the first quarter. The stocks were BP Midstream Partners (BPMP), CNX Midstream Partners (CNXM), and Holly Energy Partners (HEP). The other stocks that underperformed during the first quarter were Summit Midstream Partners (SMLP), Tallgrass Energy (TGE), and PBF Logistics (PBFX).

Among the large capitalization stocks, Magellan Midstream Partners (MMP) generated total returns of 8.0% and underperformed the sector during the first quarter.


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