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Liam Denning

The More MLPs Leave, the More Crowded They Get

A flurry of deals makes the Alerian index look even more concentrated.



Photographer: STR/AFP

The MLP pool is getting mighty crowded — but mainly because folks keep getting out.

Ascension Thursday saw a host of master limited partnerships taken back up by Williams Cos. Inc., Enbridge Inc. and Cheniere Energy Inc. If not quite a sign of the end-times for MLPs, it was nonetheless a day of reckoning (see my take here), and not just for the (soon-to-be) departed.