Why Units of Plains All American Pipeline Tumbled Nearly 18% in February
Units of MLP Plains All American Pipeline (NYSE: PAA) tumbled 17.9% in February, according to data provided by S&P Global Market Intelligence. Among the issues weighing on the pipeline company were its outlook for 2020 and more turbulence in the oil market.
Oil market conditions grew more challenging during the fourth quarter, which was evident in Plains All American's earnings report. The company's adjusted EBITDA sank 9.4% compared to the year-ago period while its distributable cash flow plunged 22.7%. However, both numbers were well ahead of its expectations, enabling the company to produce stronger-than-anticipated growth for the full year.
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Source Fool.com
