DALLAS, June 8, 2018 /PRNewswire/ -- Swank Capital,
LLC and Cushing®
Asset Management, LP, announce today an upcoming interim
rebalancing of The Cushing® Utility Index (the
"Index"). Per the Index's methodology guide, the removal of an
Index constituent from a Sub-Index without a named direct
replacement necessitates the rebalancing of the Index. The
Cushing® 30 MLP Index
(the "Sub-Index") announced today that Index constituents Spectra
Energy Partners, LP (NYSE: SEP) and Tallgrass Energy GP, LP (NYSE:
TEGP) will be removed from the Sub-Index after the markets close on
June 15, 2018, and effective on
June 18, 2018. Replacements named for
the removed constituents are not direct replacements. After the
markets close on June 15, 2018, the
constituents of the Index will be rebalanced, and the changes in
the table below will become effective on June 18, 2018.
Cushing® Utility
Index constituents, effective June 18, 2018:
|
Company
Name
|
Ticker
|
Index
Weight
|
Status
|
SCANA
Corporation
|
SCG
|
4.94%
|
Existing
|
PPL
Corporation
|
PPL
|
4.58%
|
Existing
|
The Southern
Company
|
SO
|
4.01%
|
Existing
|
Dominion Energy,
Inc.
|
D
|
3.87%
|
Existing
|
Duke Energy
Corporation
|
DUK
|
3.49%
|
Existing
|
Entergy
Corporation
|
ETR
|
3.34%
|
Existing
|
CenterPoint Energy,
Inc.
|
CNP
|
3.15%
|
Existing
|
FirstEnergy
Corp.
|
FE
|
3.11%
|
Existing
|
The AES
Corporation
|
AES
|
2.98%
|
Existing
|
Edison
International
|
EIX
|
2.94%
|
Existing
|
Consolidated Edison,
Inc.
|
ED
|
2.83%
|
Existing
|
American Electric
Power Company, Inc.
|
AEP
|
2.78%
|
Existing
|
Eversource
Energy
|
ES
|
2.70%
|
Existing
|
Pinnacle West Capital
Corporation
|
PNW
|
2.68%
|
Existing
|
WEC Energy Group,
Inc.
|
WEC
|
2.67%
|
Existing
|
DTE Energy
Company
|
DTE
|
2.61%
|
Existing
|
Xcel Energy
Inc.
|
XEL
|
2.57%
|
Existing
|
Sempra
Energy
|
SRE
|
2.55%
|
Existing
|
Public Service
Enterprise Group Inc.
|
PEG
|
2.53%
|
Existing
|
Exelon
Corporation
|
EXC
|
2.49%
|
Existing
|
Alliant Energy
Corporation
|
LNT
|
2.45%
|
Existing
|
NiSource
Inc.
|
NI
|
2.37%
|
Existing
|
CMS Energy
Corporation
|
CMS
|
2.36%
|
Existing
|
Ameren
Corporation
|
AEE
|
2.32%
|
Existing
|
NextEra Energy,
Inc.
|
NEE
|
2.04%
|
Existing
|
Dominion Energy
Midstream Partners, LP
|
DM
|
2.00%
|
NEW
|
Alliance Resource
Partners, L.P.
|
ARLP
|
2.00%
|
Existing
|
Andeavor Logistics
LP
|
ANDX
|
2.00%
|
Existing
|
Tallgrass Energy
Partners, LP
|
TEP
|
2.00%
|
Existing
|
EnLink Midstream
Partners, LP
|
ENLK
|
2.00%
|
Existing
|
DCP Midstream,
LP
|
DCP
|
2.00%
|
Existing
|
Enable Midstream
Partners, LP
|
ENBL
|
2.00%
|
NEW
|
EQT Midstream
Partners, LP
|
EQM
|
2.00%
|
NEW
|
Western Gas Partners,
L.P.
|
WES
|
2.00%
|
Existing
|
Crestwood Equity
Partners LP
|
CEQP
|
2.00%
|
NEW
|
Energy Transfer
Equity, L.P.
|
ETE
|
2.00%
|
Existing
|
Energy Transfer
Partners, L.P.
|
ETP
|
2.00%
|
NEW
|
American Water Works
Company, Inc.
|
AWK
|
1.64%
|
Existing
|
Constituents
removed, effective June 18, 2018:
|
Company
Name
|
Ticker
|
MPLX LP
|
MPLX
|
Spectra Energy
Partners, LP
|
SEP
|
Sunoco LP
|
SUN
|
Tallgrass Energy GP,
LP
|
TEGP
|
Williams Partners
L.P.
|
WPZ
|
ABOUT THE CUSHING®
UTILITY INDEX
The Cushing® Utility
Index tracks the performance of widely held companies engaged in
electric, gas and water utility services as well as master limited
partnerships (MLPs) engaged in storage and transportation of oil,
natural gas, coal and consumable fuels. Constituents of the Index
are weighted based on current yield. The Index price level is
calculated by S&P Dow Jones Indices and reported on a real-time
basis under the Bloomberg ticker "CUTI".
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 investors by sponsoring a variety of
benchmarks, including The Cushing® 30 MLP Index
(Bloomberg Ticker: MLPX), The Cushing® 30 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) and The Cushing® Transportation
Index (Bloomberg Ticker: CTRI). For more information, please visit
http://www.cushingasset.com/indices.
Contact:
Judson Redmond
214-692-6334
www.cushingasset.com
The Cushing®
Utility 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-CUTI
View original
content:http://www.prnewswire.com/news-releases/swank-capital-and-cushing-asset-management-announce-rebalancing-of-the-cushing-utility-index-300662142.html
SOURCE Cushing Asset Management, LP; Swank Capital, LLC