First Quarter Was A Surprise Party For Several MLPs
Plains All American, DCP Midstream, and EnLink Midstream all exceeded first quarter earning expectations as their plans paid off early.
Several master limited partnerships (MLP) received a surprise gift to the start of the 2019 fiscal year when they posted stronger-than-expected earnings. Among the companies reporting higher than expected earnings in the first quarter were Plains All American Pipeline, EnLink Midstream, and DCP Midstream.
Though the level of the earnings may have been unexpected, these improvements were years in the making and were the result of careful planning. For example, Plains All American is now forecasting full-year earnings to be $100 million higher to about $2.85 billion.