Midstream stocks traded okay overall this week, but underperformed utilities and the S&P 500, which closed at a fresh all-time high after better than expected U.S. GDP data. The MLP Index (AMZ) underperformed the Midstream indexes (AMNA and AMUS), extending midstream’s lead over last 12 months and YTD.
Month: April 2019
Week Thoughts: Midstream Follow Through? Nah Fam
MLPs and midstream corporations underperformed the market this week. Midstream stocks traded down each of the 4 trading days in what was the worst week for the AMNA and AMZ in more than two months.
Midstream Week Thoughts: Getting to Yes
Midstream and MLPs were unchanged on the week, but finished strong along with the rest of the energy sector after the mega-merger announcement by Chevron Friday morning. The stock market and utilities were slightly positive week over week.
Week Thoughts: Midstream In Bloom
After a few flattish weeks, midstream grinded higher this week, finishing up 1.2%. Midstream lagged oil prices, energy stocks and the S&P 500. The U.S. 10-year treasury rate bounced back up to 2.50%, and utilities underperformed.