ETRN - Week Thoughts: Midstream Earnings Hit Stocks Miss
Midstream and MLPs were slight underperformers among energy stocks ([[XOP]] and [[XLE]] were largely flat) and underperformed general equities (as measured by S&P 500), which rallied 1.5%. Earnings, ex-dates for distributions and month-end strangeness whipped things around a bit in between a basically flat week. Front month natural gas and spot NGL prices were very strong on colder temperatures. The back end of the curve didn't move, but a rally in any area of the curve is appreciated by weary midstream investors.
The week felt worse than it ended up being, which is typical of