DALLAS, Oct. 11, 2018 /PRNewswire/ -- Swank Capital,
LLC and Cushing® Asset Management, LP announce an upcoming
interim rebalance of The Cushing® MLP Market Cap
Index (the "Index"). On August 1,
2018, Index constituents Energy Transfer Equity, L.P. (NYSE:
ETE) and Energy Transfer Partners, L.P. (NYSE: ETP) announced a
merger agreement wherein ETE would acquire ETP, subject to the
approval of ETP unitholders. A special meeting of ETP unitholders
is scheduled for October 18, 2018,
for the purpose of voting on the merger agreement. Per the Index's
methodology guide, after the market closes on October 18, 2018, and effective on
October 19, 2018, ETP will be removed as a constituent of the
Index.
Because ETP is expected to have a weight in the Index in excess
of 3.5% at the time of its removal, per the Index's methodology
guide, the Index will be rebalanced and all constituent weightings
will be adjusted effective on October 19,
2018, as shown below.
|
Cushing® MLP Market Cap Index
constituents, effective October 19, 2018:
|
|
Company
Name
|
Ticker
|
Index
Weight
|
Status
|
|
Enterprise Products
Partners, L.P.
|
EPD
|
7.50%
|
Existing
|
|
Magellan Midstream
Partners, L.P.
|
MMP
|
7.50%
|
Existing
|
|
The Williams
Companies, Inc.
|
WMB
|
7.50%
|
Existing
|
|
Kinder Morgan,
Inc.
|
KMI
|
7.50%
|
Existing
|
|
ONEOK,
Inc.
|
OKE
|
7.50%
|
Existing
|
|
Cheniere Energy,
Inc.
|
LNG
|
7.50%
|
Existing
|
|
Energy Transfer
Equity, L.P.
|
ETE
|
7.07%
|
Existing
|
|
Targa Resources
Corp.
|
TRGP
|
6.59%
|
Existing
|
|
Plains All American
Pipeline, L.P.
|
PAA
|
5.77%
|
NEW
|
|
MPLX LP
|
MPLX
|
5.30%
|
Existing
|
|
Buckeye Partners,
L.P.
|
BPL
|
2.78%
|
Existing
|
|
Western Gas Partners,
L.P.
|
WES
|
2.43%
|
Existing
|
|
EQT Midstream
Partners, LP
|
EQM
|
2.43%
|
Existing
|
|
Andeavor Logistics
LP
|
ANDX
|
2.25%
|
Existing
|
|
DCP Midstream,
LP
|
DCP
|
2.03%
|
Existing
|
|
Tallgrass Energy,
LP
|
TGE
|
1.89%
|
Existing
|
|
Plains GP Holdings,
L.P.
|
PAGP
|
1.84%
|
NEW
|
|
EnLink Midstream
Partners, LP
|
ENLK
|
1.54%
|
Existing
|
|
Antero Midstream
Partners LP
|
AM
|
1.53%
|
Existing
|
|
Phillips 66 Partners
LP
|
PSXP
|
1.48%
|
Existing
|
|
AmeriGas Partners,
L.P.
|
APU
|
1.44%
|
Existing
|
|
Shell Midstream
Partners, L.P.
|
SHLX
|
1.40%
|
Existing
|
|
Enbridge Energy
Partners, L.P.
|
EEP
|
1.27%
|
Existing
|
|
Crestwood Equity
Partners LP
|
CEQP
|
0.97%
|
Existing
|
|
Alliance Resource
Partners, L.P.
|
ARLP
|
0.94%
|
Existing
|
|
SemGroup
Corporation
|
SEMG
|
0.87%
|
Existing
|
|
Sunoco LP
|
SUN
|
0.83%
|
Existing
|
|
Western Gas Equity
Partners, LP
|
WGP
|
0.82%
|
Existing
|
|
Enable Midstream
Partners, LP
|
ENBL
|
0.77%
|
Existing
|
|
Black Stone Minerals,
L.P.
|
BSM
|
0.76%
|
Existing
|
|
Constituents
removed, effective October 19, 2018:
|
|
Company
Name
|
Ticker
|
|
Antero Midstream GP
LP
|
AMGP
|
|
Energy Transfer
Partners, L.P.
|
ETP
|
ABOUT THE CUSHING®
MLP MARKET CAP INDEX
The Cushing® MLP
Market Cap Index provides a benchmark that is designed to track the
performance of widely held midstream energy infrastructure
companies, including master limited partnerships (MLPs) and non-MLP
midstream corporations (each, a "Midstream Company" and
collectively, "Midstream Companies"). The Index is weighted on a
float-adjusted market capitalization basis, with the weight of each
constituent capped at 7.5% at rebalance. The Index price level is
calculated by S&P Dow Jones Indices while the constituents are
selected from the entire universe of publicly traded Midstream
Companies. The Cushing®
MLP Market Cap Index is calculated by S&P Dow Jones Indices and
reported on a real-time basis under the Bloomberg ticker
"CMCI".
ABOUT SWANK CAPITAL AND CUSHING® ASSET MANAGEMENT
Cushing® Asset
Management, LP ("Cushing"), a
subsidiary of Swank Capital, LLC, is an SEC-registered investment
adviser headquartered in Dallas,
Texas. Cushing serves as
investment adviser to affiliated funds and managed accounts which
invest primarily in securities of Midstream Companies and other
natural resource companies.
Cushing is also dedicated to
serving the needs of MLP and energy income investors by sponsoring
a variety of industry benchmarks, including The Cushing® 30 MLP Index (Bloomberg
Ticker: MLPX), The Cushing® MLP High Income Index
(Bloomberg Ticker: MLPY) ), The Cushing® Energy Index (Bloomberg
Ticker: CENI), The Cushing® Energy Supply Chain Index
(Bloomberg Ticker: CSCI), The Cushing® Transportation Index
(Bloomberg Ticker: CTRI) and The Cushing® Utility Index (Bloomberg
Ticker: CUTI). For more information, please visit
http://www.cushingasset.com/indices.
Contact:
Judson Redmond
214-692-6334
www.cushingasset.com
The Cushing® MLP Market Cap Index (the "Index") is the exclusive
property of Swank Capital, LLC, and Cushing Asset Management, LP,
which have contracted with S&P Opco, LLC (a subsidiary of
S&P Dow Jones Indices LLC) ("S&P Dow Jones Indices") to
calculate and maintain the Index. S&P® is a
registered trademark of Standard & Poor's Financial Services
LLC ("SPFS"); Dow Jones® is a registered trademark of
Dow Jones Trademark Holdings LLC ("Dow Jones"); and, these
trademarks have been licensed to S&P Dow Jones Indices.
"Calculated by S&P Dow Jones Indices" and its related stylized
mark(s) have been licensed for use by Cushing Asset Management, LP.
Neither S&P Dow Jones Indices, SPFS, Dow Jones nor any of their
affiliates sponsor and promote the Index and none shall be liable
for any errors or omissions in calculating the Index.
CUSH-CMCI
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SOURCE Cushing® Asset Management, LP; Swank Capital, LLC
