They announced updated guidance today and said... "until volumes from new projects come online in second half of 2011, Total DCF estimated to be lower than comparable 2010 periods due to current forward prices and lower average strike prices on hedges"
in other words, the distribution may be at risk. They seem to keep pushing back the time when the distribution will be fully covered by distributable cash flow.
Big volume today too. Not just CPNO, but a lot of MLPs. Given the volume, either some hedge funds are getting out of the space, or people are aggressively selling the ETF. I would expect, given seemingly everybody's negative mood, some pretty big down days this month. I'm going to give it some time and then open up my shopping list.