Why Units of Enable Midstream Partners Plunged Nearly 59% in March [The Motley Fool]
Enable Midstream Partners, LP Common Units representing limited partner interests (ENBL)
Last enable midstream partners, lp common units representing limited partner interests earnings: 2/19 06:00 am
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Source: The Motley Fool
What happenedUnits ofmaster limited partnershipEnable Midstream Partners(NYSE:ENBL Global Market Intelligence. Weighing on themidstream companywere concerns about thesustainability of its high-yielding distributionamid a massive plunge in crude oil prices last month.So whatCrude oil prices plummeted last month because of the COVID-9 outbreak and the breakdown of Russia's market support agreement with OPEC. That's causing oil to pile up in storage, which has investors worried that U.S. producers will need to reduce their production. That would impact the volumes handled by midstream companies, which then generate less revenue. On top of that, investors are growing deeply concerned that a wave of bankruptcies will engulf the sector, possibly forcing pipeline operators to reduce their rates.Image source: Getty Images.Those anxieties weighed heavily on MLPs last month, especially those like Enable Midstream that focus on gathering and processing oil and gas. Investors are worried that the
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