If you own NRGY you consign yourself to inferior long term TOTAL returns. The retail propane is a drag and the MLPs that are the pipeline owners/operators and creators are going to generate significant more total wealth to you over the next many years.
High yielding MLPs are signaling zero growth prospects.
A 6% distribution with a 5% gain in distribution annually takes around 10 years to get to be 10%, about where NRGY is today. And NRGY has significant growth prospects in midstream and propane autogas may make that biz more attractive than surmised.
I remember Ferdie when he loved marginal hotels before the crash.