master limited partnership

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Master limited partnership (MLP)

Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Master Limited Partnership

A limited partnership with ownership units that may be traded on an exchange. A limited partnership consists of a general partner, who manages the venture, and limited partners, who simply provide capital. A master limited partnership allows limited partners to buy and sell units of the venture as if they were shares in a publicly-traded company. Limited partners often receive cash distributions, which are similar to dividends, on a regular basis. This business form combines the tax advantages of a partnership, which does not pay tax on its profit, with the liquidity of a publicly-traded company. It is also called a publicly traded partnership.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

master limited partnership (MLP)

A limited partnership that provides an investor with a direct interest in a group of assets (generally, oil and gas properties). Master limited partnership units trade publicly like stock and thus provide the investor significantly more liquidity than ordinary limited partnerships. See also roll-up.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
Duff & Phelps Select MLP and Midstream Energy Fund Inc (NYSE:DSE) announced on Thursday a quarterly distribution of USD0.15 per share.
The 'zero-waste' plastic management project focuses on collecting, segregating and recycling post-consumer use multi-layered plastics (MLP), which are considered to be difficult to collect and recycle.
While the final rule does not guarantee that MLPs with cost of service contracts will benefit from the ITA over the long-term, the options in the above paragraph provide some flexibility in timing to adjust rates.
For as long as MLP and Midstream are in the name of the Fund, the Fund will invest at least 80% of its managed assets in energy MLPs and energy midstream entities.
Additionally, the two MLPs would not have any significant overlap geographically, which would decrease the chance of facing any regulatory hurdles.
MLP trade groups and oil and gas companies that own MLPs wanted the most favorable MLP tax benefit to make it into the final bill.
I argue that the period immediately after a doctor has identified a legal need is particularly worthy of further study and experimentation, especially in MLPs with more potential legal clients than their attorneys can represent.
Such is today's pipeline business that a merger between two companies actually involves a complex range of entities--the result of the shale boom that gave birth to a generation of these oil and gas pipeline partnerships known as MLPs. While both Spectra and Enbridge have rallied on the news of their merger, Spectra Energy Partners LP slumped and DCP Midstream Partners LP--an MLP that Spectra and refiner Phillips 66 jointly own--saw more tempered gains.
The recent Williams transaction highlights the effect that incentive distribution rights (IDR) paid to the general partner can have on equity cost of capital for mature MLPs. However, we do not view this as a repudiation of the MLP structure as capital markets remain open to it, despite the challenging commodity price environment.
NEW YORK, NY, June 6, 2015 - (ACN Newswire) - "All properly diversified portfolios should include five to ten percent in energy-related Master Limited Partnerships (MLPs)," recommends David DeWitt, President & Portfolio Manager, DeWitt Capital.
"One, despite the challenges facing upstream and oilfield services MLPs, there continues to be value placed on strong midstream MLPs that provide steady cash flows from long-term contracts and good visibility into sponsor-driven growth.
Irvine, CA, February 13, 2015 --( Vertical Capital Markets Group today announced the launch of the Vertical Capital MLP & Energy Infrastructure Fund (VMLPX, VMLIX), an open-end mutual fund consisting of midstream master limited partnerships (MLPs), and energy and infrastructure securities that will be sub-advised by MAI Capital Management, LLC of Cleveland, Ohio.