Did you see today's new on Inergy. Apparantly, they've agreed to buy an operation from EOTT (not sure who these folks are) on the west coast. The announcement was a bit sketchy, but it does mention gas processing and fractionation, which is Inergy's first shot at something besides weather driven propane business. This is what I was hoping to see per my earlier message. On the surface, not a big deal ($10M), but I bet their California presence will bring other opportunities. I sure hope.
On your question about the recent unit price run up,and then pull back. If you look at other MLP's, they've done the same, so it appears it is not driven soley by what is going on within Inergy's. I still this is still a keeper!
I did take note of the deal and even though I don't have a clue as to what fractionation is all about I took the leap today and am now long. Hope they made a good deal. I guess I better read up on it. Wondering about possible impact if any regarding all the talk of natural gas shortages. (even though storage level is high) I don't know about their profitability but in my neck of the woods propane is a very important commodity as there are many small communities nowhere near natural gas mains. We used propane for years before natural gas made it to our area.(northern CA)