Infrastructure Influence:

Investors are well aware of the gains in the exploration and production names in the energy space as the XOP has advanced a very handsome 60% in 2021 thus far. The equipment and services plays are not slouching either this year higher by 39% as we enter the second half. Keeping pace with the OIH is an underappreciated area within the group. The infrastructure stocks as a whole looking at the MPLX have gained 38% YTD and let’s not forget the hefty yields some of these pay. It is not easy to find the combination of a nice chart and a solid dividend, but the MPLX provides both with a yield of 9.2%. Below is an attractive play in the arena in ET. It is holding the very round 10 number, after shedding single-digit status, after a nice breakout in late April. It can also be interpreted as a successful retest of a bull flag breakout above a 10.50 pivot in a flag pole that started in mid-April. Look for a measured move to 14.

This article requires a Chartsmarter membership. Please click here to join.