DALLAS, Jan. 29, 2015 /PRNewswire/ -- Alerian announced that following the close of business on Monday, February 2, Tallgrass Energy Partners (NYSE: TEP) will be added to the Alerian Natural Gas MLP Index (NYSE: ANGI), replacing Williams Partners (NYSE: WPZ) in a special rebalancing.
Per Alerian's index methodology guides, special rebalancings are implemented as practically as possible on a case-by-case basis. 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. The merger between Williams Partners (NYSE: WPZ) and Access Midstream Partners (NYSE: ACMP) has been approved.
Tallgrass Energy Partners owns, operates, acquires, and develops natural gas transportation, storage, and processing assets in the Rocky Mountains and Wyoming.
Notably, following the closing of the merger, it is anticipated that Access Midstream Partners will change its name to Williams Partners and that ACMP common units will trade on the NYSE under the ticker symbol "WPZ".
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.
About the Alerian Natural Gas MLP Index
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 (NYSE: ANGI) and end-of-day on a total-return basis (ANGIX).
Alerian equips investors to make informed decisions about Master Limited Partnerships (MLPs) and energy infrastructure. Its benchmarks, including the flagship Alerian MLP Index (AMZ), are widely used by industry executives, investment professionals, research analysts, and national media to analyze relative performance. Over $19 billion is directly tied to the Alerian Index Series through exchange-traded products, delta one notes, and separately managed accounts. For more information, including index values, yields, constituents, and announcements regarding rebalancings, please visit www.alerian.com.