Shares of Energy Tranfer Equity plunged after the company disclosed that it was making a change to the Chief Financial Officer of its general partner. Meanwhile, master limited partnerships (MLPs) and other peers were downgraded by research firm Robert W. Baird. MLPs are publicly traded partnerships that receive tax benefits and often own oil assets. The downgrade comes because of the bankruptcy of exploration and productions companies, fund outflows and macroeconomic conditions. Other companies that were downgraded include EnLink Midstream (ENLC) ONEOK Partners (OKS), Plains All American (PAA) and Plains GP Holdings. Thomas Long will replace Jamie Welch as CFO of Energy Transfer Equity. Long is currently the CFO of Energy Transfer Partners, LLC which owns Energy Transfer Partners, LP, another MLP. Please call our law offices is you have experienced losses in MLPs.
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