By Bryce Bingham
Since our initial stress test of the Alerian MLP Infrastructure Index’s (AMZI) yield (read more), the index underwent its quarterly rebalancing with related constituent changes, and a few MLPs announced distribution cuts. In terms of constituent changes, Holly Energy Partners ([[HEP]]) and CNX Midstream ([[CNXM]]) were added to the index, while Tallgrass Energy ([[TGE]]) was removed. The chart below incorporates1 recently announced 50% distribution cuts from DCP Midstream ([[DCP]]) and EnLink Midstream ([[ENLC]]) and the 73% cut from Noble Midstream Partners ([[NBLX]]). The scenario analyses assume distribution cuts