United States

Unloved master limited partnerships: What’s happened, what matters


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Master limited partnerships (MLPs) have been the recipient of many news headlines creating investor angst and questions for future return prospects. Since August 2014, with the downturn in oil, MLPs have largely been under pressure for reasons ranging from distribution cuts to the effects from the tax reform.

In recent history, the passing of the Tax Cuts and Jobs Act in December 2017 impacted prices, volatility and raised questions whether the general partner (GP) and limited partner (LP) structure will be jettisoned. The Federal Energy Regulatory Commission (FERC) reignited the concern in March, with a surprise announcement that it will no longer permit income tax allowances in cost of service rate agreements for pipeline MLPs.

This white paper offers an explanation of notable MLPs events and an analysis of their impact.

Wealth Management Services Disclosure

Information in this document was prepared by DiMeo Schneider & Associates, L.L.C. and although information in this document has been obtained from sources believed to be reliable, RSM US Wealth Management LLC, DiMeo Schneider & Associates, L.L.C. and their respective affiliates do not guarantee its accuracy, completeness or reliability and are not responsible or liable for any direct, indirect or consequential losses from its use. Any such information may be incomplete or condensed and is subject to change without notice. The Frontier EngineerTM is a registered trademark of DiMeo Schneider & Associates, L.L.C.