Your broker may be right. I just wonder what his reasons are for maintaining that opinion. The behaviour of the stock says otherwise. And brokers usually just puke out the company line when trying to earn commissions. Do your own due diligence.
There are a number of factors that weigh on both sides of this issue. They include DCF shortfalls, the decline in propane prices and volumes, seasonal weather conditions that are contrary to NRGY's business model, and an analyst community that is biased to the sellside. On the other side is insider purchases. While not conclusive, it cannot be ignored as a postive factor.