XLUY - SteelPath October MLP Update And News
By Brian Watson, CFA, Senior Portfolio Manager
Energy Transfer (ET) makes an acquisition and MLPs' performance relative to other asset classes.
MLP market overview
Midstream master limited partnerships (MLPs), as measured by the Alerian MLP Index ((AMZ)), ended September up 0.7% on a price basis and once distributions are considered. The AMZ results underperformed the S&P 500 Index's 1.9% total return for the month. The best-performing midstream subsector for September was the Propane group, while the Gathering and Processing subsector underperformed, on average.
For the year through September, the AMZ is up 4.6% on a