The problem here is that people do not pay attention to current yield. KMP traded $90+ at the beginning of 2012 with a current yield of 5.35% -- this is way too low to hold onto an MLP that is mostly return of capital.
Fast forward to now and KMP at $79 with a $5.04 distribution is 6.37974% -- a much better current yield. KMP is also now in my buy range.
High yield for the last year for KMP was 6.61%. Low yield was 5.353%. Much closer to a decent current yield now and therefore a good buy. I'm actually looking to buy KMR instead.
The current Goldman Sachs price target for is $86 as of 9/30/2012. Buying here gives some nice price upside in addition to a close to annual high current yield.
BTW, I've sold some other high flying dividend stocks because their current yields are too low and their P/E ratios are just silly high.