Dallas, Texas (November 13, 2014) Swank Capital, LLC and Cushing® Asset Management, LP announced an interim constituent change and special rebalancing of The Cushing® MLP Market Cap Index (the “Index”). Kinder Morgan, Inc. (NYSE: KMI) previously announced its intent to acquire Index constituents El Paso Pipeline Partners, L.P. (NYSE: EPB), Kinder Morgan Energy Partners, L.P. (NYSE: KMP) and Kinder Morgan Management, LLC (NYSE: KMR). A special meeting of the unitholders of EPB, KMP and KMR is scheduled for November 20, 2014, for the purpose of approving the proposed transaction. Should the transaction be approved, each of EPB, KMP and KMR will be removed from the Index and replaced by The Williams Companies, Inc. (NYSE: WMB), ONEOK, Inc. (NYSE: OKE) and TC PipeLines, LP, (NYSE: TCP) after the markets close on November 20, 2014.
Additionally, because at least one of the changes involves an incumbent constituent with a weight exceeding 3.5%, all constituent weightings will be adjusted as show below. The changes will be effective on November 21, 2014.
Cushing® MLP Market Cap Index constituents (effective November 21, 2014):
|Company Name||Ticker||Index Weight||Status|
|Enterprise Products Partners, L.P.||EPD||7.50%||Existing|
|Energy Transfer Equity, L.P.||ETE||7.50%||Existing|
|Energy Transfer Partners, L.P.||ETP||7.50%||Existing|
|Plains All American Pipeline, L.P.||PAA||7.50%||Existing|
|The Williams Companies, Inc.||WMB||7.50%||New|
|Magellan Midstream Partners, L.P.||MMP||7.48%||Existing|
|MarkWest Energy Partners, L.P.||MWE||5.11%||Existing|
|Buckeye Partners, L.P.||BPL||3.93%||Existing|
|Regency Energy Partners, L.P.||RGP||3.54%||Existing|
|Williams Partners, L.P.||WPZ||3.27%||Existing|
|Sunoco Logistics Partners, L.P.||SXL||3.00%||Existing|
|ONEOK Partners, L.P.||OKS||2.96%||Existing|
|Enbridge Energy Partners, L.P.||EEP||2.94%||Existing|
|Access Midstream Partners, L.P.||ACMP||2.49%||Existing|
|Targa Resources Partners, L.P.||NGLS||2.28%||Existing|
|Western Gas Partners, L.P.||WES||2.04%||Existing|
|Linn Energy, LLC||LINE||1.85%||Existing|
|NuStar Energy, L.P.||NS||1.80%||Existing|
|DCP Midstream Partners, L.P.||DPM||1.79%||Existing|
|Targa Resources Corp.||TRGP||1.78%||Existing|
|AmeriGas Partners, L.P.||APU||1.59%||Existing|
|Plains GP Holdings, L.P.||PAGP||1.50%||Existing|
|Genesis Energy, L.P.||GEL||1.46%||Existing|
|EQT Midstream Partners, LP||EQM||1.37%||Existing|
|TC PipeLines, LP||TCP||1.25%||New|
|Crestwood Midstream Partners LP||CMLP||1.18%||Existing|
|Spectra Energy Partners, LP||SEP||1.15%||Existing|
|EnLink Midstream Partners, LP||ENLK||1.09%||Existing|
|Linn Co, LLC||LNCO||1.06%||Existing|
Constituents removed, effective November 21, 2014:
|Kinder Morgan Energy Partners, L.P.||KMP|
|Kinder Morgan Management, LLC||KMR|
|El Paso Pipeline Partners, L.P.||EPB|
ABOUT THE CUSHING® MLP MARKET CAP INDEX
The Cushing® MLP Market Cap Index provides a benchmark that is designed to track the performance of widely held master limited partnerships (MLPs). The Index is weighted on a float-adjusted market capitalization basis, with the weight of each constituent capped at 7.5% at rebalance. The Index price level is calculated by S&P Dow Jones Indices while the constituents are selected from the entire universe of publicly traded MLPs. The Cushing® MLP Market Cap Index is calculated by S&P Dow Jones Indices and reported on a real-time basis under the Bloomberg ticker “CMCI”.
ABOUT SWANK CAPITAL AND CUSHING® ASSET MANAGEMENT
Cushing® Asset Management, LP (“Cushing”), a subsidiary of Swank Capital, LLC, is an SEC-registered investment adviser headquartered in Dallas, Texas. Cushing serves as investment adviser to affiliated funds and managed accounts which invest primarily in securities of MLPs and other natural resource companies.
Cushing is also dedicated to serving the needs of MLP and energy income investors by sponsoring a variety of industry benchmarks, including The Cushing® 30 MLP Index (Bloomberg Ticker: MLPX), The Cushing® MLP High Income Index (Bloomberg Ticker: MLPY) and The Cushing® Upstream Energy Income Index (Bloomberg Ticker: CRTY). For more information, please visitwww.swankcapital.com/the-cushing-indices.
The Cushing® MLP Market Cap Index (the “Index”) is the exclusive property of Cushing Asset Management, LP, which has contracted with S&P Opco, LLC (a subsidiary of S&P Dow Jones Indices LLC) (“S&P Dow Jones Indices”) to calculate and maintain the Index. S&P® is a registered trademark of Standard & Poor’s Financial Services LLC (“SPFS”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and, these trademarks have been licensed to S&P Dow Jones Indices. “Calculated by S&P Dow Jones Indices” and its related stylized mark(s) have been licensed for use by Cushing Asset Management, LP. Neither S&P Dow Jones Indices, SPFS, Dow Jones nor any of their affiliates sponsor and promote the Index and none shall be liable for any errors or omissions in calculating the Index.
SOURCE Cushing Asset Management, LP; Swank Capital, LLC