ETRN - SteelPath January MLP Update And News
By Brian Watson, CFA, Senior Portfolio Manager
The master limited partnership ((MLP)) sector saw a series of acquisitions take place in December, from Blackstone (NYSE: BX) reaching an agreement with Tallgrass Energy (NYSE: TGE) to Energy Transfer (NYSE: ET) closing on the SemGroup (NYSE: SEMG) acquisition. The events marked a strong month for midstream equities which outperformed the broader market in December.
MLP market overview
Midstream MLPs, as measured by the Alerian MLP Index (AMZ), ended December up 8.5% on a price basis and total return basis. The AMZ's results outperformed the S&P 500 Index's