May 2020, Vol. 247, No. 5
Ramifications of COVID-19
Pipeline Shares Sink on Oil Decline, Coronavirus Impact
It’s a common refrain among investors that “a rising tide lifts all boats,” meaning the share prices of similar companies tend to act in unison. Unfortunately, that’s equally true of falling tides, as demonstrated by the performance of North American midstream equities in recent weeks. The share prices of North America’s largest pipeline operators nose-dived during a three-month period, through March 23. (source: P&GJ/Barchart) The impact has been felt by midstream service companies and interstate pipeline operators alike, as well as those involved in LNG production and export. Their responses to the market downturns have ranged
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