Week Thoughts: Midstream Upbeat in Earnings Downpour

Diamond hands rewarded this week in bounce back across midstream

The market and midstream stocks were extremely volatile this week, but when the dust settled Friday afternoon, midstream benchmarks were more than 4% higher than the prior week, way ahead of the broad market.  Strong earnings and positive outlooks highlighted all week with earnings releases probably helped, but sharply higher energy prices were probably just as big a factor. 

Two of the biggest midstream players, EPD and ENB, bookended a week of more than 25 earnings releases by midstream companies and MLPs.  The calendar things out considerably in the next week, with a few names like WES, KNTK, Keyera, and HEP poised to release results.  But the die has been cast for this earnings season, and it has been a positive outcome.