Alternatives SteelPath commentary on the midstream energy infrastructure industry

September 11, 2026
Latest SteelPath commentary on the Midstream energy infrastructure industry

Each month, the Invesco SteelPath team provides an update and insight on the most recent midstream industry happenings. Each monthly commentary provides:

  • Market performance update
  • Recent news
  • Chart of the month

Midstream equities modestly outperformed the broader markets in August as second quarter earnings reporting wound down, key new midstream projects moved forward, and strategic mergers and acquisitions (M&A) was announced1. In this month’s Chart of the Month we conclude our series on natural gas exports by focusing on ethane—an increasingly important energy commodity—and the opportunities its growth potentially creates for midstream energy companies.

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  • 1

    Midstream MLPs, as measured by the Alerian MLP Index (AMZ), ended August up 2.35% from a price perspective and +3.30% after distributions are considered. The AMZ outperformed the S&P 500 Index’s 2.72% total return for the month. The best performing midstream subsector for August was the Liquefied Natural Gas group, while the Natural Gas Compression subsector underperformed, on average.

    For the year through August, the AMZ is up 25.20% on a price basis, resulting in a 31.65% total return. This compares to the S&P 500 Index’s 12.28% and 13.12% price and total returns, respectively. The Water Handling and Services group has produced the best average total return year-to-date, while the Natural Gas Pipeline subsector has lagged.

    Source: All data sourced from Bloomberg L.P. as of 8/31/2026 unless otherwise stated.

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