Alerian Energy Infrastructure ETF Price & Performance (ENFR)

In 2024, midstream companies repurchased $3.76 billion in equity, maintaining levels from 2023. Cheniere Energy led with $2.3 billion in buybacks, while Targa Resources followed with $750 million. With strong equity gains last year, buyback activity remains significant as companies balance repurchases with growth opportunities in 2025.1

Midstream energy companies have shown resilience as oil prices dropped 17.2% since January. The Alerian MLP Infrastructure Index declined just 0.4% during this period, supported by fee-based models and steady dividends. This defensiveness highlights midstream's stability compared to broader energy sector losses of 8% over the same timeframe.2

Total shareholder yields for midstream firms fell in 2024 due to significant equity price increases. Dividend and buyback yields compressed as market caps soared, with some stocks gaining over 50%. Despite this, companies like Cheniere Energy and Targa Resources continued robust buybacks, emphasizing shareholder returns alongside dividend growth.3