#4. Energy Transfer Partners LP (NYSE:ETP)
– Number of shares owned by Wexford Capital as of March 31: 704,465
– Value of Wexford Capital’s holding as of March 31: $22.78 Million
Wexford Capital was also bullish on Sunoco LP’s owner, Energy Transfer Partners LP (NYSE:ETP), during the first three months of 2016, as the investment firm increased its exposure to ETP by 233,135 shares or roughly 49%. The quarter-end stake, which comprised 704,465 shares, was worth $22.78 million at the end of March. Various trustworthy news outlets said the U.S. pipeline company has held discussions about a possible sale of gas station- and convenience store-operator Sunoco, but those discussions did not advance because of disagreements between the parties involved on the valuation of Sunoco. In September 2015, Energy Transfer Partners inked a multi-billion-dollar agreement to acquire Williams Companies Inc. (NYSE:WMB), but the acquirer seeks to restructure or escape the seemingly expensive acquisition after plummeting oil prices hit nearly each corner of the energy industry. Shares of Energy Transfer Partners are up 3% year-to-date. David Atterbury’s Whetstone Capital Advisors acquired a new stake of nearly 400,000 shares of Energy Transfer Partners LP (NYSE:ETP) during the March quarter.
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#3. EnLink Midstream Partners LP (NYSE:ENLK)
– Number of shares owned by Wexford Capital as of March 31: 2.18 Million
– Value of Wexford Capital’s holding as of March 31: $26.31 Million
Wexford Capital LP had 2.18 million shares of EnLink Midstream Partners LP (NYSE:ENLK) at the end of March, up 255,000 shares or around 13% quarter-on-quarter. The 2.18 million-share stake was priced at $26.31 million on March 31 and made up 5.1% of the fund’s equity portfolio. EnLink Midstream Partners’ business operations mainly involve providing midstream energy services such as gathering, transmission, processing, brine services and marketing to producers of natural gas, NGLs, crude oil and condensate. The company’s gross operating margin for the first quarter increased 7.2% year-over-year to $303.5 million, primarily due to a series of acquisitions. Meanwhile, the increase was partly offset by both volume and price declines. EnLink Midstream Partners currently pays out a distribution of $0.39 per unit, which equates to a current dividend yield of 11.18%. The master limited partnership has seen its market value decline by 16% since the start of the year. Matthew Hulsizer’s PEAK6 Capital Management owns 4,094 units of EnLink Midstream Partners LP (NYSE:ENLK) as of March 31.
