LEAWOOD, Kan.-- April 27, 2017 (BUSINESS WIRE)--Tortoise Index Solutions today announced that Sunoco Logistics Partners L.P. (NYSE: SXL) will be removed from the Tortoise MLP Index® (TMLP) and Tortoise North American Pipeline IndexSM (TNAP) as it will cease trading on the NYSE due to the announcement that all required regulatory approvals have been granted to finalize its merger with Energy Transfer Partners, L.P. (NYSE: ETP). Following the acquisition, the acquiring firm, Sunoco Logistics Partners L.P. (SXL), will change its company name and ticker to the targeted firm, Energy Transfer Partners, L.P. (ETP). Rebalancing of TMLP and TNAP constituents will occur after the close of business Friday, April 28, 2017, according to each index's methodology.
About Tortoise Index Solutions
Tortoise Index Solutions, LLC provides research-driven indices that can be used as a realistic basis for exchange-traded products and thought leadership in the universe of essential assets. Its indices are intended to fill a void in the market and provide benchmarks and investible asset class universes for use by investment professionals, research analysts and industry executives to analyze relative performance, as well as to provide a basis for passively managed exchange-traded products. Tortoise Index Solutions, LLC is part of the Tortoise Investments family, which had approximately $21.3 billion of assets under advisement through its family of registered advisers as of March 31, 2017. For more information about Tortoise Index Solutions, LLC visit www.tortoiseindexsolutions.com or www.tortoiseinvest.com.
About Tortoise MLP Index®
The Tortoise MLP Index is a float-adjusted, capitalization weighted index of energy master limited partnerships (MLPs). The index is comprised of publicly traded companies organized in the form of limited partnerships or limited liability companies engaged in transportation, production, processing and/or storage of energy commodities.
About Tortoise North American Pipeline IndexSM
The Tortoise North American Pipeline Index is a float-adjusted, capitalization weighted index of pipeline companies that are organized and have their principal place of business in the United States or Canada. A pipeline company is defined as a company that either 1) has been assigned a standard industrial classification (“SIC”) system code that indicates the company operates in the energy pipeline industry or 2) has at least 50% of its assets, cash flow or revenue associated with the operation or ownership of energy pipelines. Pipeline companies engage in the business of transporting natural gas, crude oil and refined products, storing, gathering and processing such gas, oil and products and local gas distribution. The index includes pipeline companies structured as corporations, limited liability companies and master limited partnerships (MLPs).
Safe Harbor Statement
This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.
The Tortoise indices are the exclusive property of Tortoise Index Solutions, LLC, which has contracted with S&P Opco, LLC (a subsidiary of S&P Dow Jones Indices LLC) to calculate and maintain the Tortoise MLP Index®, Tortoise North American Pipeline IndexSM , Tortoise North American Oil and Gas Producers IndexSM , and the Tortoise Water IndexSM (the “Indices”). The Indices are not sponsored by S&P Dow Jones Indices or its affiliates or its third party licensors (collectively, “S&P Dow Jones Indices”). S&P Dow Jones Indices will not be liable for any errors or omission in calculating the Indices. “Calculated by S&P Dow Jones Indices” and its related stylized mark(s) are service marks of S&P Dow Jones Indices and have been licensed for use by Tortoise Index Solutions, LLC and its affiliates. S&P® is a registered trademark of Standard & Poor‘s Financial Services LLC (“SPFS”), and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”).
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Tortoise Index Solutions, LLC
Pam Kearney, Investor and Media Relations