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EBRGF - Low Natural Gas Prices And Interest Rates: 2 Opposing Forces To Keep MLPX Rangebound
Enbridge Inc Cum Red Pref Shs Ser B
Energy companies have taken a beating to start off the year, with the double whammy of plunging crude oil (USO) and natural gas (UNG) leading to the energy sector (XLE) having the worst performance (-8% YTD) among all S&P sectors. The MLP & Energy Infrastructure ETF (MLPX) could not escape unscathed either with a -3% YTD drop due to its high correlation to falling natural gas prices:
Source: WingCapital Investments
That being said, further downside appears limited with trailing dividend yield rising back towards the key 6%,