ETRN - Scarcity Value Rally In MLPs
Midstream stocks outpaced the S&P 500 and utilities this week in the face of falling oil prices and rising interest rates. MLPs were the best performers within midstream, benefiting from the "value rally" and also from Friday's MLP index re-balance announcement that essentially spreads around the same amount of capital across an increasingly scarce group of MLPs. Canadian midstream stocks lagged and held back the broader midstream index.
The Alerian MLP Index is up 6.2% over 12 trading days since bottoming on August 27, 2019. It was the best week for the MLP Index since