|Day's Range||7.95 - 8.00|
|52 Week Range||5.30 - 9.50|
|PE Ratio (TTM)||-3.67|
|Earnings Date||Apr 27, 2017 - May 1, 2017|
|Dividend & Yield||1.43 (17.99%)|
|1y Target Est||8.00|
What do you expect is going to happen when a company announces a 40% distribution cut?
Shares of master limited partnership Enbridge Energy Partners (EEP) were rising nicely Friday after the crude pipeline operator concluded a long-anticipated strategic review and announced a 40% distribution cut. Its current yield will fall from 12% to 7%, about in line with other energy MLPs and the Alerian MLP ETF (AMLP). It is also selling off its Midcoast gathering and processing business for $2.15 billion, which includes over a billion in cash plus debt of Midcoast Energy Partners (MEP).
DALLAS, April 27, 2017 /PRNewswire/ -- Alerian announced today that Midcoast Energy Partners (NYSE: MEP) will be removed from the Alerian Small Cap MLP Index (AMSI) in a special rebalancing. Special rebalancings ...