Another Limited Partnership Cut Its Dividend. Is It a Buy Now? [The Motley Fool]
TC PIPELINES LP (TCP)
Last tc pipelines lp earnings: 11/7 07:30 am
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US:NYSE Investor Relations:
tcpipelineslp.com/investor-center.html
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Source: The Motley Fool
TC Pipelines, LP cut its distribution in early 2018. Is the bad news over, or is the partnership still in an investment no-man's land? TC Pipelines, LP ( NYSE:TCP ) did something that no limited partnership wants to do in May of this year: It reduced its distribution. The 35% distribution cut was clearly material for unitholders, and was compounded by a nearly 30% drop in TC Pipeline's unit price . Although the units have gained some ground back, they remain off roughly 40% for the year. Value-conscious investors might wonder, however, if TC Pipelines, with its still generous 7.9% yield, is a buy at this point? What went wrong? The headline story for TC Pipelines was a proposed ruling change by the Federal Energy Regulatory Commission (FERC). The company specifically highlighted the proposed rule change when it announced the distribution cut. Image source: Getty Images The issue that FERC was attempting to address is complex, but the end result is that th
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