A quick update from on what happened in the MLP space last week is below. I’ve been at a loss for words the last week or so, on account of (a) the NAPTP conference and (b) my household of 7 (in-laws included) moving cross country from Boston to Austin…we moved near enough to Lake Austin that I am still adjusting to (1) middle-aged men walking around all day long with no shirts on (guy at the bottom of this post knows what I’m talking about); and (2) actually looking for the words “septic safe!” on things I buy… But, the incessant assembly of things we’ve bought this weekend has slowed just enough for me to get out a quick post…
MLPs bounced back this week, up 2.8% on pretty thin news. It was also the biggest week of investor relations of the year with the NAPTP MLP conference. The conference was really well attended as usual, but the scuttlebutt was the conference was so popular that for the first time ever, people had to be turned away. That probably means next year the conference moves, potentially back to NYC, maybe somewhere else on the East Coast (how about Florida?), maybe Las Vegas, who knows.
The market was up generally, with the S&P 500 up 1.7% this week, while commodity prices and precious metals were mostly down.
Big bounces out of RNO, MCEP and NMM, all down more than 14% the week before. Oil focused names SXL and OILT were down, but SPH was the biggest loser by far this week.
For the year, the bottom 3 and the 5th worst remained the same, but EROC has replaced RNO in the 4 spot as of Friday. No changes in the members of the top 4 this week, but RRMS has cracked the top 5 year to date.
Brief News of the (MLP) World