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SteelPath commentary on the midstream energy infrastructure industry

March 17, 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 outperformed1 the S&P 500 Index as fourth quarter reporting season continued and as conflict in the Middle East ramped up at the end of the month. Capital inflows into energy-focused investment products have increased. According to data compiled by U.S. Capital Advisors, capital inflows into midstream-focused public equity products, including open-end funds and exchange-traded products have started the year strong, totaling $767 million.2

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Commentary archives

  • 1

    Midstream MLPs, as measured by the Alerian MLP Index (AMZ), ended February up 5.78% from a price perspective and up 7.09% after distributions are considered. The AMZ outperformed the S&P 500 Index’s 0.76% total return loss for the month. The best performing midstream subsector for February was the Compression group, while the Propane subsector underperformed, on average. 

    For the year through February, the AMZ is up 13.64% on a price basis, resulting in a 15.68% total return. This compares to the S&P 500 Index’s 0.49% and 0.67% price and total returns, respectively. The Compression group has produced the best average total return year-to-date, while the Propane subsector has lagged.
  • 2

    Source: U.S. Capital Advisors as of 2/28/2026. 
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