MARUF - SteelPath July MLP Updates And News
By Brian Watson, CFA, Senior Portfolio Manager
New acquisitions and a temporary shutdown headline this month’s MLP sector
June MLP performance seemed to reflect a reversal of sentiment as COVID-19 cases returned in certain regions. That likely influenced the near-term trajectory of what appeared to be improving energy consumption. Despite a softer market, some midstream companies advanced new projects and completed corporate simplification transactions.
MLP market overview
Midstream MLPs, as measured by the Alerian MLP Index (AMZ), ended June down 7.9% on a price and total return basis. The AMZ results underperformed the S&P 500