Midstream Stocks
Top 10 of 29 MLPX holdings, updated
As of 12 October 2026, midstream stocks are trailing the S&P 500, over the past month and over the longer run. MLPX trails the S&P 500 by 5.1 points over one month and ranks #65 of 115 groups Zensei tracks. 7 of the 26 midstream stocks Zensei prices in MLPX beat the fund this month.
Where midstream stocks stand now
As of 12 October 2026, Energy Infrastructure (MLPX) ranks #65 of the 115 groups Zensei tracks by one-month return against the S&P 500. It is out of favor: it trails the S&P 500 on both rotation windows — 5.1 points behind over the past month and 1.9 points behind over the longer, time-shifted window. That is the Underperformers quadrant.
On the shorter tape, MLPX's momentum is mixed: the longer intraday trend is still positive, but the recent windows have gone flat. MLPX's relative-strength line has broken below its long-term average — the long-term outperformance trend is no longer intact. Both signals point the same direction here: the market is not rewarding this group on either horizon.
The exposure comes via Global X MLP & Energy Infrastructure ETF, whose 29 tracked holdings are led by Williams Companies Inc, TC Energy Corp and Enbridge Inc. Weighted by portfolio, the fund's holdings trade at roughly 18.7× earnings. The thing to watch from here is the one-month spread: underperformers only become interesting when the recent window turns positive first — until then, the market is voting elsewhere.
As of , these are the largest midstream stocks in MLPX by fund weight, and the strongest over the past month. Size and recent return are measurements, not recommendations.
Top midstream stocks by fund weight
Ranked by largest share of MLPX
- 1Williams Companies IncWMB9.1%
- 2TC Energy Corp9.0%
- 3Enbridge Inc8.9%
- 4Targa Resources CorpTRGP8.0%
- 5Kinder Morgan IncKMI7.1%
Best midstream stocks this month
Ranked by one-month return, among the holdings Zensei prices
- 1Kinder Morgan IncKMI+7.2%
- 2Williams Companies IncWMB+1.8%
- 3Cheniere Energy IncLNG+1.5%
- 4Targa Resources CorpTRGP+0.1%
- 5Kinetik Holdings IncKNTK−0.4%
Midstream Stocks vs the S&P 500
Over the week to 12 October 2026, MLPX rose 1.5% while the S&P 500 rose 0.4%. The table compares MLPX and SPY (the S&P 500) over every window Zensei tracks. The spread is the difference: positive means MLPX won that window.
Prices as of · computed from daily adjusted closes · how we measure
Energy Infrastructure on the rotation map, against the 11 broad S&P 500 sectors. Vertical: 1-month spread vs the S&P 500. Horizontal: the longer, time-shifted window.
Are midstream stocks expensive?
The price-to-earnings ratio of MLPX as a whole: the total price of its holdings over their total earnings, weighted by share of the fund. Holdings that lose money are left out. Compare with every sector and theme: P/E ratio by sector.
MLPX holdings: the midstream stocks inside
This list covers all 29 midstream stocks in MLPX, heaviest first; the 10 largest show their returns where Zensei has a price. As of 12 October 2026, 7 of the 26 midstream stocks Zensei prices in MLPX beat the fund over the past month. 1 of them beat the S&P 500. The strongest is Kinder Morgan Inc (KMI); the weakest is Hess Midstream LP (HESM). Inside the fund, the holdings split between winners and losers.
| # | Holding | Weight | 1M | 3M | vs fund 1M | Momentum | RS health |
|---|---|---|---|---|---|---|---|
| 1 | WMBWilliams Companies Inc | 9.1% | +1.8% | +0.3% | +4.9 pts | Accelerating | Strong |
| 2 | TC Energy Corp | 9.0% | — | — | No price data | ||
| 3 | Enbridge Inc | 8.9% | — | — | No price data | ||
| 4 | TRGPTarga Resources Corp | 8.0% | +0.1% | +4.5% | +3.2 pts | Pulling back | Strong |
| 5 | KMIKinder Morgan Inc | 7.1% | +7.2% | +3.6% | +10.3 pts | Accelerating | Strong |
| 6 | OKEOneok Inc | 6.3% | −4.8% | +1.0% | |||
| 7 | LNGCheniere Energy Inc | 4.8% | +1.5% | +7.5% | |||
| 8 | MPLXMplx LP Partnership Units | 4.6% | −5.0% | +1.2% | |||
| 9 | ETEnergy Transfer | 4.5% | −5.2% | +3.0% | |||
| 10 | EPDEnterprise Products Partners LP | 4.5% | −7.7% | −4.9% | |||
All 29 MLPX holdings by weight: Williams Companies Inc (WMB) 9.1%, TC Energy Corp 9.0%, Enbridge Inc 8.9%, Targa Resources Corp (TRGP) 8.0%, Kinder Morgan Inc (KMI) 7.1%, Oneok Inc (OKE) 6.3%, Cheniere Energy Inc (LNG) 4.8%, Mplx LP Partnership Units (MPLX) 4.6%, Energy Transfer (ET) 4.5%, Enterprise Products Partners LP (EPD) 4.5%, Pembina Pipeline Corp 4.5%, Plains All American Pipeline LP (PAA) 3.8%, DT Midstream Inc (DTM) 3.8%, Western Midstream Partners LP (WES) 3.5%, South BOW Corp (SOBO) 2.2%, Antero Midstream Corp (AM) 2.1%, Venture Global Inc (VG) 2.1%, Kodiak Gas Services Inc (KGS) 1.7%, Archrock Inc (AROC) 1.6%, Plains GP Holdings LP (PAGP) 1.6%, Hess Midstream LP (HESM) 1.5%, Kinetik Holdings Inc (KNTK) 1.0%, Cheniere Energy Partners LP (CQP) 0.9%, USA Compression Partners LP (USAC) 0.8%, NGL Energy Partners LP (NGL) 0.6%, Genesis Energy LP (GEL) 0.5%, Delek Logistics Partners LP (DKL) 0.4%, Excelerate Energy Inc (EE) 0.3%, Nextdecade Corp (NEXT) 0.3%.
Midstream stocks with their own page
Zensei publishes a page for 1 of the stocks in MLPX; each page shows the stock against the S&P 500 and its sector.
| Stock | Ticker | Weight in MLPX | 1M return |
|---|---|---|---|
| Energy Transfer | ET | 4.5% | −5.2% |
Weight is the share of MLPX. 1M is the plain one-month return to the close of . All stock pages
Midstream Stocks: common questions
Midstream stocks list: which stocks are in MLPX?
As of 12 October 2026, MLPX holds 29 midstream stocks, and this page lists all 29. The three largest by fund weight are Williams Companies Inc (WMB, 9.1%), TC Energy Corp (9.0%) and Enbridge Inc (8.9%). Each one shows its fund weight; the 10 largest also show their one-month and three-month returns where Zensei has a price.
What are the best midstream stocks this month?
As of 12 October 2026, ranked by one-month return, the three strongest midstream stocks in MLPX are Kinder Morgan Inc (KMI, +7.2%), Williams Companies Inc (WMB, +1.8%) and Cheniere Energy Inc (LNG, +1.5%). This ranks past return only; it does not forecast the next month.
What are the top 3 midstream stocks?
As of 12 October 2026, the three largest midstream stocks in MLPX by fund weight are Williams Companies Inc (WMB, 9.1%), TC Energy Corp (9.0%) and Enbridge Inc (8.9%). Fund weight shows size inside the fund, not a recommendation.
Which midstream stocks are beating the sector?
As of 12 October 2026, 7 of the 26 midstream stocks Zensei prices in MLPX beat the fund over the past month. The strongest over the past month is Kinder Morgan Inc (KMI). The table above shows the largest holdings with their weights and returns.
Which ETF holds midstream stocks?
Several ETFs hold midstream stocks. Zensei tracks the group through MLPX, the Global X MLP & Energy Infrastructure ETF. As of 12 October 2026, its published holdings list 29 midstream stocks, and the 10 largest make up 66.9% of the fund.
Are midstream stocks outperforming the S&P 500?
No. As of 12 October 2026, MLPX trails the S&P 500 by 5.1 points over the past month.
What is MLPX?
MLPX is Global X MLP & Energy Infrastructure ETF. Zensei uses it to measure midstream stocks against the S&P 500 (SPY).
What stocks does MLPX own?
As of 12 October 2026, the largest of the 29 positions Zensei tracks in MLPX are Williams Companies Inc, TC Energy Corp, Enbridge Inc, Targa Resources Corp, Kinder Morgan Inc. Each position measured against the fund, with momentum and relative strength, is part of Zensei Premium.
What quadrant is energy infrastructure in right now?
As of 12 October 2026, energy infrastructure is in the Underperformers quadrant — trailing the S&P 500 on both windows. The Zensei methodology page explains the quadrants.
Recent changes
- ·Losing ground → trailing the market
- ·Trailing the market → losing ground
- ·Losing ground → trailing the market
- ·First tracked: losing ground
Related sectors
Track energy infrastructure against the whole market
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