Why Units of DCP Midstream Plunged More Than 25% in February
Units of master limited partnership DCP Midstream (NYSE: DCP) tumbled 25.9% in February, according to data provided by S&P Global Market Intelligence. Weighing on the midstream company were concerns about how much effect last month's crash in crude prices will have on its ability to deliver on its 2020 outlook.
DCP Midstream reported its fourth-quarter results and unveiled its 2020 outlook last month. The master limited partnership (MLP) posted decent numbers as its adjusted EBITDA rose 10% for the year while its distributable cash flow increased by 11%. Because of that, the company generated enough cash to cover its high-yielding distribution by 1.23 times.
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Source Fool.com
