Why Crestwood Equity Partners Rallied 10.6% in July
Units of Crestwood Equity Partners (NYSE: CEQP) rebounded 10.6% in July, according to data provided by S&P Global Market Intelligence. One notable catalyst fueled the rise last month of this master limited partnership (MLP).
Units of Crestwood initially tumbled along with several other pipeline stocks in early July after a court ordered the Dakota Access Pipeline to shut down. That news weighed on Crestwood because its Arrow system in North Dakota flows into this pipeline. The concern is that the company's customers might need to curtail their production, which would impact the MLP's volumes and cash flow. However, Crestwood does own a rail terminal in the region, which it could use to ship these volumes to market centers.
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Source Fool.com
