Midstream basically kept pace with the broader market this week, while MLPs underperformed, again. Oil prices and broader equities were supportive, but that wasn’t enough to get MLPs moving ahead of EPD results Monday to kick off the meat of 3Q reporting season.
Month: October 2019
Week Thoughts: Midstream Inaction
Quiet week in the stock market this week, which translated into a quiet week for midstream as well. The AMNA finished basically unchanged, while the MLP Index was slightly lower.
Week Thoughts: MLPs Brace for Earnings
Midstream was negative across the board this week, and the MLP Index lost more ground to the other midstream indexes that include corporations. Lower oil prices, higher interest rates and general aversion to energy stocks were likely reasons for continued weakness for the sector.
Week Thoughts: Macro Noise Offsets MLP News
After 5 straight negative days last week, midstream had three positive days this week, including an intra-day reversal Thursday and a positive Friday.