Why Shares of These High-Yielding Pipeline Stocks Plummeted in March [The Motley Fool]
Phillips 66 Partners LP Common Units representing limited partner interest in the Partnership (PSXP)
Last phillips 66 partners lp common units representing limited partner interest in the partnership earnings: 5/1 07:20 am
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Source: The Motley Fool
What happenedShares of pipeline companyEnbridge(NYSE:ENBmaster limited partnershipsPhillips 66 PartnersNYSE:PSXPEnterprise Products PartnersNYSE:EPDEnergy Transfer PartnersNYSE:ET Global Market IntelligenceEnbridge shares were down .%. Phillips 66 Partners saw its unit price (MLP-speak for share price) fall by an even %. Enterprise Products Partners units tumbled 8.7% for the month, while Energy Transfer's shares plunged a jaw-dropping 8.%The drops pushed the companies' already-generousdividend and distribution yieldsImage source: Getty Images.So whatWhen oil prices go south, so do the share and unit prices of companies across the energy industry, whether such a drop is warranted or not. Global oil prices were cut nearly in half during March as a result of a price war breaking out between Russia and Saudi Arabia, both of which began to flood the market with cheap crude.But unlike oil drillers, midstream pipeline companies don't usually have much, if any, direct exposure to swings in c
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