Stocks of all types were negative this short week (even utilities, barely), so despite a rally in commodity prices and a further drop in interest rates, midstream stocks were negative. MLPs were down for a 4th week in the last 5 weeks and were again the worst performing group in midstream.
Month: February 2020
Week Thoughts: Midstream Positive, Beyond Partnerships (BP)
On the back of rebounding oil prices and an ever-higher stock market, midstream indexes were positive this week. In a familiar refrain, the broader AMNA index was well ahead of the MLP Index, reflecting better performance among corporations
Week Thoughts: Midstream Reprieve
MLPs and midstream companies arrested their recent decline this week with a flattish week. The broad equity market had a strong week, helped by gains from some big tech firms on earnings results.
Week Thoughts: Somber Midstream, Market Mentality
Midstream was negative this week, along with most other global equities and commodities. Midstream outperformed broader energy stocks, but underperformed the S&P 500 and utilities, which continue to grind higher.