Summary Consolidation has been a multiyear trend in energy infrastructure. U.S. C-Corps accounted for the largest portion of the midstream market cap for the first time at the end of 2023, unseating MLPs. Most midstream mergers were between related parties initially, but there have been more examples of third-party M&A in recent years. Midstream investors [...] The post How Consolidation Has Changed the Midstream Landscape appeared first on ETF Trends .