You would expect a company that has seen its shares tumble almost 30% so far this year would be pretty cheap, and Boardwalk Pipeline Partners (NYSE:BWP) is no exception. Compared to the stalwarts of the Master Limited Partnership space -- Kinder Morgan Energy Partners (NYSE:KMP) and Enterprise Products Partners (NYSE:EPD)-- Boardwalk Pipeline looks like a steal by just about any measure. Then again, it is cheap for a reason. After cutting its distribution payment by over 80% earlier this year, not many investors are lining up to be a shareholder. 

But if you look at what the company has in store over the next couple of years and the plans it's making to clean up its balance sheet, it may be worth taking another look at Boardwalk. Find out more on how you can measure the value of a master limited partnership in lieu of the price-to-earnings ratio and why should consider putting Boardwalk on your radar by tuning into the video below. 

Tyler Crowe owns shares of Enterprise Products Partners. You can follow him at Fool.com under the handle TMFDirtyBird, on Google+, or on Twitter @TylerCroweFool.

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