Midstream MLP Buybacks Surge to $956 Million in 2Q25, Nine Constituents Participate.

Midstream MLPs and corporations spent a combined $956 million on equity repurchases in 2Q25, with nine constituents in the Alerian Midstream Energy Index participating. Buyback activity increased compared to recent quarters, with over 75% of AMNA by weighting having a buyback authorization in place. Targa Resources and Cheniere Energy led the way with $324 million and $306 million in repurchases, respectively.

In the second quarter of 2025, midstream MLPs and corporations demonstrated increased buyback activity, with a combined $956 million spent on equity repurchases. Nine constituents of the Alerian Midstream Energy Index (AMNA) participated in these buybacks, marking a significant increase from the previous quarter [1].

Equity weakness in the second quarter likely contributed to this surge in buyback activity. Targa Resources (TRGP) and Cheniere Energy (LNG) led the way with $324 million and $306 million in repurchases, respectively. Enterprise Products Partners (EPD) and MPLX (MPLX) also increased their buyback spending, with EPD's repurchases jumping from $60 million in 1Q25 to $110 million in 2Q25 [2].

The majority of AMNA constituents, over 75%, have buyback authorizations in place, indicating a strategic use of capital allocation. While dividend growth remains the primary focus for many companies, buybacks serve as a flexible tool to enhance shareholder returns, especially during periods of equity weakness [1].

As the energy infrastructure sector continues to evolve, companies are prioritizing growth projects and debt reduction alongside buybacks. This quarter's buyback activity underscores the sector's resilience and strategic capital allocation [2].

References:
[1] https://seekingalpha.com/article/4814812-midstream-mlp-buybacks-jumped-q2-2025
[2] https://www.etftrends.com/energy-infrastructure-channel/midstream-mlp-buybacks-jumped-2q25/