8 Jan

Top MLP Losers in Week Ended January 5

WRITTEN BY Kurt Gallon FEATURED IN Price Movement Observations

Foresight Energy

Foresight Energy (FELP), an MLP mainly involved in coal production, was the top MLP loser last week. It fell 3.8% in a single trading session on Friday, January 5, 2018, resulting in a WoW (week-over-week) decline of 3.4%. It has fallen 38.5% over the past year, mainly due to the general weakness in US coal sector.

Top MLP Losers in Week Ended January 5

Tallgrass Energy GP

Tallgrass Energy GP (TEGP), the MLP general partner of Tallgrass Energy Partners (TEP), was the second-highest MLP loser last week, falling 3.1%. Tallgrass Energy Partners was also among the top MLP losers last week. TEGP’s and TEP’s declines can mainly be attributed to their rating updates from Credit Suisse last week. We’ll look more at those ratings in a later article.

Legacy Reserves

Legacy Reserves (LGCY), an upstream MLP involved in crude oil, natural gas, and NGL (natural gas liquids) production, was the third-highest MLP loser last week, falling 3.1%. LGCY’s fall last week can be attributed mainly to the weakness in natural gas prices. Natural gas fell 5.4% last week to end at $2.8 per MMBtu (million British thermal unit).

Other top MLP losers

Green Plains Partners (GPP), Calumet Specialty Products Partners (CLMT), Westlake Chemical Partners (WLKP), Crestwood Equity Partners (CEQP), Star Gas Partners (SGU), and CVR Refining (UAN) were among the top ten MLP losers last week.

In the next part, we’ll look at Plains All American Pipeline’s (PAA) technical indicators.

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