ETP had a big move today its still yielding about 11.85 ETE is now yielding about 9.17 so etp will catch up on the yield and should run more into ex div.
To follow up on my last comment look at the 1 yr chart.
ETE was down a lot more than ETP because of the toxic merger and distribution solvency issues, they've had some good news come out suggestion it may fall through, and the distribution wasn't cut (which people suspected it would have to be).
Your comments scream "hey everyone look at me getting in at the perfect entry point". Nobody cares kid.
you tell them, etp great business, long term holder here started at 45.88 to little under 20.00, oil and gas by pipelines will be just great long term, gas, oil far cheaper then other power types and easy to use, 70-75 years of total oil before it is gone, nat gas more then thousand years , electric cars take to long to filler up and go from empty, some miss bright in her suv and three kids can go the corner gas station and fill up and go fast with gasoline nat gas takes longer to do that, but electric slowwww, miss bright will be happy to pay up so she can pump and go easy and fast. I am with David tepper [ who bought at least 5.1 shares]. go etp
It's not a trade, it is an absurdly low entry point for a long term holding. It shows how ridiculous the price became (and still is) for a stable payout. Look across various sectors from BDCs, REITs, etc and nothing this stable is available at yields 6%, let alone 20%. Everyone here was bashing ETP at the bottom not understanding the cash flow stability it offers.
Truly amazing how the 'Analysts' downgrade this stock right when it hits the low price ....Great work BoA and Stifel ....Oppenheimer ....Robert W Baird ,,,,,,,,ALL Downgrades at the bottom
It comes down to the provision below. Specifically, whether ETE used commercially reasonable efforts to secure the tax opinion from Latham which is referenced in 6.02(d). This opinion is a condition precedent to closing the merger. I suspect the issue of whether ETE used commercially reasonable efforts or obstructed the issuance of the Tax opinion will also end up before the court similar to the potential dilution issue.
(b) The Company, TopCo and Parent shall each use its commercially reasonable efforts to obtain the Tax opinions described in Sections 6.01(h), 6.02(d) and 6.03(d), including by making representations, warranties and covenants requested by counsel in order to render such Tax opinions. Each of the Company, TopCo and Parent shall use its commercially reasonable efforts not to knowingly take or cause to be taken any action that would cause to be untrue (or knowingly fail to take or cause not to be taken any action which inaction would cause to be untrue) any of the representations, warranties and covenants made to counsel in furtherance of such Tax opinions