Midstream broke out of its 6-week slump this week, helped by a private equity bid lobbed in Tuesday night, but also helped by risk-on broad market action and rebounding commodity prices.
Tag: ARCHIVE
Week Thoughts: Midstream Checked, Market Unbalanced
Midstream stocks declined for a 6th straight week, this time joined by a pretty scary broad stock market decline on Friday. Broad market fear appears to be joining the energy sector antipathy and midstream apathy we’ve seen all summer.
Five Years Since Midstream Peak: Universe Update and In Memoriam
The end of next week, the last trading day of August, will be the 5-year anniversary of the peak of the Alerian MLP Index.
Week Thoughts: Yield Inversion, Midstream Aversion
Midstream stocks were down inline with broad equities this week, after a rally Friday that almost salvaged the week. It was a 4th straight negative week for midstream, and the MLP Index (on a price basis) now sits 11.3% lower than its high for the quarter reached in mid-July.
Week Thoughts: Un-Navigable Midstream
Midstream and MLP stock performance accelerated to the downside this week, finishing with bigger losses this week than last week. It was also the 4th consecutive negative week for midstream, the longest such streak since late December.
Week Thoughts: Midstream De-Rated
It was an inauspicious start to August for the stock market, for oil prices, and for the midstream sector due to the overriding influence of interest rates and tariff rates this week. MLPs had their second worst week of the year and worst week since early February.
Week Thoughts: Midstream Flagging into Earnings Barrage
Midstream started the week strong Monday, but the bounce back was short-lived as midstream sold off each of the remaining days of the week, even as oil prices stabilized and the broad market rallied. Canada and a few larger corporations dragged down broader midstream indexes relative to the MLP Index, which continues to hold up well in a backdrop of upstream carnage.
Week Thoughts: Sweltering Energy Discontent Hits Midstream
Midstream stocks, and MLPs in particular, held up ok this week, all things considered. This week saw a combination of negative macro forces converge to crush energy stocks more broadly.
Summer Cliff Notes: Answers to Common Questions on Midstream and MLPs
I have recently been receiving a flurry of more basic questions from advisors who appear to be circling back to the midstream and MLP sector after a long layoff. The questions sometimes reflect implied misconceptions in the question itself, but also reflect how little time advisors care to spend to delve into the nuance of the midstream sector.
Week Thoughts: Uptrend is Midstream’s Friend
Midstream rode higher commodity prices and a record-setting broad equity market to another positive week. The steady grind higher for midstream continues. This was the 6th straight positive week for the MLP Index, which is up up 5.7% over those 6 weeks (WTI oil price is up 13.1% over that same time).