DALLAS, Oct. 3, 2013 /PRNewswire/ -- Alerian announced today that Inergy Midstream (NYSE: NRGM) is expected to be added to the Alerian Natural Gas MLP Index (NYSE: ANGI), replacing Crestwood Midstream Partners (NYSE: CMLP) in a special rebalancing.
Special rebalancings are triggered by corporate actions that result in the termination of trading of an index constituent on a major US exchange. Such corporate actions include, but are not limited to, mergers, delistings, and bankruptcies. Pending unitholder approval, CMLP will cease to trade on the NYSE due to its merger with NRGM. If approved, the rebalancing will take place one full trading session after the issuance of a press release indicating all needed merger votes have passed.
Inergy Midstream operates natural gas, NGL and crude oil storage, transportation, and logistics businesses in the United States.
In addition, the 20 constituents of the index will be rebalanced on an equal-weighted basis in accordance with the existing index methodology. Constituent additions to and deletions from the index do not reflect an opinion by Alerian on the investment merits of the respective securities.About the Alerian Natural Gas MLP IndexThe Alerian Natural Gas MLP Index is an equal-weighted composite of 20 natural gas infrastructure Master Limited Partnerships (MLPs). The index, whose constituents earn the majority of their cash flow from the transportation, storage, and processing of natural gas and natural gas liquids (NGLs), provides investors with an unbiased benchmark for the infrastructure component of the natural gas industry. The index is disseminated real-time on a price-return basis (NYSE: ANGI), and the corresponding total-return index is disseminated daily through ticker ANGIX. For index values, yields, constituents, and announcements regarding rebalancings, please visit www.alerian.com. About AlerianAlerian is an independent company that provides objective market information. The company is a leader in MLP and energy infrastructure market intelligence, providing benchmarks, data sets, and analytics that are used extensively by a range of industry stakeholders such as management teams, investment professionals, research analysts, and national media. The Alerian Index Series is used to analyze relative performance and to create index tracking funds. Over $14 billion is directly tied to Alerian's indices, including the leading benchmark of MLP equities: the Alerian MLP Index (AMZ). For more information, please visit www.alerian.com. SOURCE Alerian