It was a big risk-on week in the post-KMI pause before the rest of midstream earnings season kicks off this week. The stock market was positive, oil and natural gas prices bounced and pushed energy stocks higher, then MLPs got an extra push from M&A at a premium that helped the AMZ outperform the rest of midstream.
Sunoco Bags its Lucky Star, but ET Luckiest with its IDRs
Energy Transfer (ET) aggressively pursued NuStar Energy (NS) in 2018 but was rebuffed by the board of NS, and it looks like that pursuit continued behind the scenes until ET subsidiary Sunoco (SUN) was able to use its strong currency and recently de-levered balance sheet to seal the deal.