Atlas Energy, L.P. (ATLS) is the general partner of midstream energy MLP Atlas Pipeline Partners, L.P. and exploration and production MLP Atlas Resource Partners. Shares of Atlas fell in the fourth quarter as oil prices declined to the lowest level in five years. Atlas has exposure to oil price movements through commodity-linked contracts in its midstream operation and direct exposure in its exploration and production MLP. Investors expected cash flow generation atAtlas’s MLPs to decline and therefore put the distribution per unit at risk. (Jamie Stone)
From Ron Baron (Trades, Portfolio)’s Baron Growth Fund Q4 2014 Quarterly Report.
