Why MLPs Are Getting Pummeled Today [The Motley Fool]
ENERGY TRANSFER PARTNERS LP (ETP)
Last energy transfer partners lp earnings: 8/8 04:30 pm
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US:NYSE Investor Relations:
ir.energytransfer.com
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Source: The Motley Fool
Several pipeline master limited partnerships tumbled after a policy change. What happened Oil and gas pipeline master limited partnerships sold off on Thursday, with several dropping by double digits. Leading the downdraft were Energy Transfer Partners ( NYSE:ETP ) , Spectra Energy Partners ( NYSE:SEP ) , and Enbridge Energy Partners ( NYSE:EEP ) , which were all down at least 10% by the mid-afternoon. Fueling the sell-off was a policy change by the Federal Energy Regulatory Commission (FERC), which will no longer allow oil and gas pipeline MLPs to recover an income tax allowance as part of their cost-of-service rates. So what FERC's policy revision came in response to a ruling from the U.S. Court of Appeals that it failed to demonstrate there was no double recovery of income tax costs when it permitted an MLP to to recover both an income tax allowance and a return on equity in setting pipeline rates. Because of that, FERC has revised its earlier p
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