DALLAS, Oct. 11, 2018 /PRNewswire/ -- Swank Capital,
LLC and Cushing® Asset
Management, LP announce an upcoming interim change to the
constituents of The Cushing® 30 MLP Index (the
"Index"). On August 1, 2018, Index
constituents Energy Transfer Equity, L.P. (NYSE: ETE) and Energy
Transfer Partners, L.P. (NYSE: ETP) announced a merger
agreement wherein ETE would acquire ETP, subject to the approval of
ETP unitholders. A special meeting of ETP unitholders is scheduled
for October 18, 2018, for the purpose
of voting on the merger agreement. Per the Index's methodology
guide, after the market closes on October 18, 2018, and
effective on October 19, 2018, Targa Resources Corp. (NYSE:
TRGP) will replace ETP as a constituent of the Index at ETP's
then-current weight.
There will be no changes to the remaining constituents of the
Index due to this event.
ABOUT THE CUSHING®
30 MLP INDEX
The Cushing® 30 MLP
Index tracks the performance of 30 publicly traded midstream energy
infrastructure companies, including master limited partnerships
(MLPs) and non-MLP energy midstream corporations (each, a
"Midstream Company" and collectively, "Midstream Companies").
Constituents of the Index are selected by using a formula-based
proprietary valuation model developed by Cushing® Asset Management, LP
to rank Midstream Companies for potential inclusion in the Index.
The Index price level is calculated by S&P Dow Jones Indices
and reported on a real-time basis under the Bloomberg ticker
"MLPX".
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 Midstream Companies 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® MLP Market Cap Index
(Bloomberg Ticker: CMCI), The Cushing® MLP High Income Index
(Bloomberg Ticker: MLPY), The Cushing® Energy Index (Bloomberg
Ticker: CENI), The Cushing® Energy Supply Chain Index
(Bloomberg Ticker: CSCI), The Cushing® Transportation Index
(Bloomberg Ticker: CTRI) and The Cushing® Utility Index (Bloomberg
Ticker: CUTI). For more information, please visit
http://www.cushingasset.com/indices.
Contact:
Judson Redmond
214-692-6334
www.cushingasset.com
The Cushing® 30 MLP
Index (the "Index") is the exclusive property of Swank
Capital, LLC, and Cushing Asset Management, LP, which have
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 Swank Capital, LLC, and 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.
CUSH-MLPX
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SOURCE Cushing® Asset Management, LP; Swank Capital, LLC