Boardwalk Pipeline Partners is cratering
The master-limited partnership reported a disappointing quarter and drastically cut its quarterly distribution.
The master-limited partnership sent investors running for the exits when it announced it was cutting its quarterly distribution by more than 80 percent to 10 cents a share. Given Boardwalk Partners' miss on earnings and poor guidance, Credit Suisse downgraded the the stock from "neutral" to "underperform."
Motley Fool analyst Taylor Muckerman believes the report was pretty grim. Taylor likes the company, but thinks investors should stay on the sidelines until this these negative trends shake out.
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