The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.
By Adam Fischbaum
NEW YORK (
StreetAuthority) -- Back in April, I
How have things turned out since? Two of the names I discussed, Kinder Morgan Energy (KMP) and Navios Maritime Partners (NMM) are textbook examples of how bipolar markets can be. Kinder Morgan is slightly up (exclusive of income) by about 4%, while Navios has lost almost 27%. Even with the yield, investors are still behind the eight ball.But how have energy MLP's as a whole performed this year? Again, it's, at best, a mixed bag. The best benchmark for energy MLP's is the Alerian MLP Index (AMZ). From the index high shortly after publication to the present, the index is off less than 4%. Not a big deal. But in early August, the Alerian MLP Index was off more than 19% from the same level. Many widely held MLP names, such as the aforementioned KMP and perennial investor favorite ONEOK Partners (OKS - Get Report), have held their ground or appreciated nicely. So while some value was created briefly during the white-knuckled summer the markets experienced, it would appear that things have returned to normal in MLP land. Are there any opportunities? Yes, especially in the much-hated coal fields and the nation's seemingly limitless natural gas supply.