It finally happened. Two of the nation’s largest energy producing partnerships cut their distributions.
Linn Energy LLC and Breitburn Energy Partners LP, two of the biggest master limited partnerships (MLPs) by revenue, announced dividend decreases on Jan. 2 as months of depressed crude oil prices finally took their toll. Their high distribution yields became untenable in the face of weakened revenues. It had been what investors feared, and expected, for weeks.
Linn's shares have crumbled 60 percent over the last three months.