Oil prices have cooled off considerably over the past year. That has put downward pressure on most energy stocks, especially on companies that produce oil.

However, not all energy stocks have fallen along with crude prices. Midstream giants Energy Transfer (NYSE: ET), Plains All American Pipeline (NASDAQ: PAA), and  (NYSE: MPLX) have surged over the past year. Here's what fueled that rally and why it should continue.

Units of Plains All American Pipeline have surged almost 35% over the past year. A big driver of that rally is the pipeline company's success in deleveraging its balance sheet. 

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Source Fool.com