Why Boardwalk Pipelines Is An Absolute Steal At $13

This week has been no friend to the long-term unit-holders of Boardwalk Pipelines (BWP) who were greeted with a cash distribution reduction of 81% from $0.5325 to $0.10. And because the appeal of midstream natural gas MLPs is generally the immediate income that they provide, the price of the stock fell almost 50% in reaction to the news, from the mid-$20s to just below $13 per share.

With the double whammy of a dividend cut and share price decrease like that, the only way to remain sensible is to channel your inner St. Lawrence, who reportedly said “Turn me over! I’m done on this side!” when the prefects burned him on … Read the rest of this article!