BPL: What does Buckeye’s Buyout Mean for MLPs and Midstream?
Buckeye Partners (BPL) announced this morning that it has agreed to be acquired by IFM Investors for $41.50 per unit – a 27.5% premium to BPL’s closing price yesterday. In this post, we discuss the...
Why Yesteryear’s Valuation Metrics Aren’t Sufficient for Today’s MLP
MLPs have become more total-return focused than in the past, making yield-focused valuation metrics less meaningful and causing a shift in the investor base. This piece explores historical valuation...