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TRP - Insights At A Glance: Market Sell-Off Turns Midstream Market Caps Upside Down
TransCanada Corporation
To say that a lot has changed in energy since the end of 2019 would be a massive understatement. One interesting development that would be easy to overlook is the shift in the makeup of the North American midstream universe, which includes MLPs and US and Canadian corporations. The transformation over time is evident in the chart below, which is perennially one of our most popular graphics. For years, MLPs represented the bulk of the midstream market cap, with US and Canadian C-Corps on the periphery. For perhaps the first time ever, MLPs are not