I recall Morningstar saying at least a year ago that ETP wanted to sell their propane business, so that means NRGY passed on buying it--although the price probably dropped after ETE bought SUG.
I agree with rrb that NRGY might be better off without the propane business, but now is probably not a good time to sell. They do seem to be putting more money into midstream/storage than the propane business, so they seem to be going in the right direction.
I'll be interested to see what they do with the added liquidity from the midstream spinoff.
ITM, there's no distribution announcement, but the share price tells me they won't be cutting. I tried to buy more calls Friday but no one would sell at my price. Maybe the Europeans will continue their dithering and help me out!