DALLAS, April 15, 2020 /PRNewswire/ -- Alerian announced today that Tallgrass Energy LP (NYSE: TGE) is expected to be removed from the Alerian Midstream Energy Index (AMNA), the Alerian US Midstream Energy Index (AMUS), the Alerian Midstream Energy Select Index (AMEI), the Alerian MLP Index (AMZ), and the Alerian MLP Equal Weight Index (AMZE) in a special rebalancing.
Special rebalancings are triggered by corporate actions such as mergers, bankruptcies, and liquidations. Pending shareholder approval, Tallgrass Energy will cease to trade due to its merger with Blackstone Infrastructure Partners. If approved, the rebalancing will take place after market close on Friday, April 17.
Each index will be rebalanced in accordance with its existing methodology. Constituent additions to and deletions from an index do not reflect an opinion by Alerian on the investment merits of the respective securities.
Alerian is an independent information services company serving asset managers and investment professionals around the globe through its indexing, research and data capabilities. Built on a foundation of data rigor and specialty research, Alerian pioneered how the master limited partnership (MLP) asset class is measured and created the first real-time MLP index – the Alerian MLP Index – the most widely used benchmark for midstream MLP energy. Today, Alerian continues to innovate, delivering indexes, tools, thought leadership, and actionable insights that equip stakeholders to make informed decisions.