KEYUF - Midstream Better For Sale

• Midstream is holding onto a wide lead on broad market indexes with 8%+ returns through 3 weeks, but the steady selling this week signaled a clear inflection in recent positive momentum.
• MLPs were the worst corner of the midstream space this week, trading like energy stocks in a risk-off week for energy.
• Midstream companies across the sector are evaluating ways to improve their disclosure on ESG and to participate in the bridge to a carbon-free economy. Focus on ESG and an acknowledgement of the policy and investor sentiment momentum around the energy transition is a positive step for midstream companies.

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