After hours last night but clearly someone knew and took advantage of that knowledge. Those that profit do great damage to the psyche of individual investors who over time simply give up on any notion they can compete in the market and make decent returns.
What knowledge? Midstream MLPs are all down significantly today. EPD heading toward $50 and down some 5 days in a row. The selloff is across the entire MLP midstream sector. No aware of where the conspiracy theory of leaking a secondary is coming from. Any closeng of the acquisition will take time and the money needed then, not now. Anyone trading in after hours on a thinly traded MLP is simply dumping - how many units were traded after hours? Bet it was not many.
Anyone who thinks the individual investor can compete on a level playing field is not a seasoned investor, but indeed CAN, over time, make a decent return by capitalizing on panics, short term anomalies, etc. Will probably buy this today, with a ROC of around 7%, and be paid to wait for some NG imporvement.
I don't expect the distribution increases to be as big in the short term, but I can live with the 7% and smaller increases for a while.