Plains GP Holdings LP (PAGP) unit prices have dropped dramatically in the recent market volatility from above $25 to below $6. Plains All American Pipeline, LP (PAA), the related entity, has seen its shares drop correspondingly as well. At today's price, the PAGP units offer a yield of over 20% to holders. This is unsustainable, and the units should be avoided at all cost - the company has far too much counterparty risk and credit risk, and investors are better served looking elsewhere for "bargains" in the pipeline world.
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