3 MLP Picks with High Yields and New Deal Backlogs
By Amey Stone
Master limited partnerships (MLPs) have had a rough time since about mid-May. Along with all yield-oriented securities, they’ve been buffeted by rising interest rates. Volatile oil prices and a major spill from one of the biggest companies in the index havn’t helped. The benchmark Alerian MLP Index is down about 6% in the past month.
But the downturn, partly seasonal, may be an opportunity to buy some of the strongest companies at a lower price. Rob Thummel, portfolio manager at energy investment firm Tortoise Capital Advisors, which operates the closed-end fund Tortoise Energy Infrastructure (TYG), came by Barron’s earlier this week to tell us about some of the firm’s top MLP holdings.
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