To give you a little more information what you are buying when you buy KMP stock read below. THE GOOD CHICKEN
An example is the pipeline company Kinder Morgan Energy Partners. The main corporation, Knight, Inc. (formerly traded on the NYSE as KMI), is the operator of the pipelines and other assets. However, the pipelines themselves are owned by the MLP Kinder Morgan Energy Partners, L.P. (NYSE:KMP). Finally, part of KMP's limited partner interests are held by the corporation Kinder Morgan Management LLC (NYSE:KMR) which allows tax-deferred investors to participate in KMP's operations.
Usually, in the MLP structure, the general partner starts with a small (usually 2%) stake in the company but is given incentive distributions from net income after the QRD. Since these distributions are usually paid in the form of increased equity claims, over time, this allows the general partner to attain higher and higher percentage of ownership in the company.
In May 2010, the first ever MLP mutual fund was launched, with a stated goal of providing "a high level of inflation-protected income currently through a 7.8 percent distribution yield, which is higher than equity alternatives such as REITs and Utilities." The fund is a part of the SteelPath Mutual Fund Family.
On August 25, 2010, the first MLP exchange traded fund (ETF) was launched by Alerian, the company that manages the benchmark MLP index (NYSE: ^AMZ). This fund was similarly designed to the above mentioned mutual fund in that it avails a new level of diversification to investors, as well as, according to Alerian President Kenny Feng, "provides a single Form 1099, no K-1s, and allows investors to potentially benefit from return of capital and qualified dividend tax treatment of distributions." The fund is known as the Alerian MLP ETF (NYSE: AMLP).
KMR averaged about 40 dollars share in Aug 2006 so you would have started with 30 more shares and earned EXACTLY the same dividends in the last 5 years. The discount has widened some since then but you would have still ended up with a lot more shares today.
chicken if one says they have better investments than in mlp's then that is a personal view however throwing out innuendo's and suppositions on not investing in mlp's is not okay
here is a good motto
"if you can't see the forest for the trees good things will pass you by"
mlp taxes are easily managed in turbo tax and if one cannot understand mlps after reading all of the primers available, then one probably should not be investing in anything except CD's and mutual funds