RTLR - Midstream Paper Jam
After an all-time good week across the sector last week, Midstream stocks gave it all back this week. Most of the damage came on Thursday, when the broad equity market dropped 6%. Midstream stocks sold off even more Thursday, dragged down by an 8% decline in oil prices and $832mm in new equity from a large, unexpected marketed equity offering by [[OKE]]. Awful timing for that offering left the sector scrambling to digest the new shares.
This week, we published an off-cycle post once again highlighting listed infrastructure as an alternative to standalone, very volatile