Alerian reports that Enable Midstream Partners (NYSE: ENBL) is expected to be added to the Alerian Natural Gas MLP Index (NYSE: ANGI), replacing El Paso Pipeline Partners (NYSE: EPB) 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, EPB will cease to trade on the NYSE due to its merger with Kinder Morgan Inc. (NYSE: KMI). 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.
Enable Midstream Partners owns, operates, and develops strategically located natural gas and crude oil infrastructure assets serving major producing basins and markets.
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.
The Alerian Natural Gas MLP Index is a composite of natural gas infrastructure Master Limited Partnerships (MLPs). The equal-weighted index, whose 20 constituents earn the majority of their cash flow from the transportation, storage, and processing of natural gas and natural gas liquids (NGLs), is disseminated real-time on a price-return basis (ANGI) and end-of-day on a total-return basis (ANGIX).