What is interesting is reading a Citi research report from NOV 2011. They projected $2.29 distribution for 2012 more or less nailing it. Their expectation at that time was $2.80 for 2013. Things certainly changed and I don't have all the details needed to reflect on the changes that materially dropped DCF and distributions for 2013. Does anyone have a projection for 2014 distributions? I am curious about the year over year expectations and if there is a second year of double-digit distribution growth (2013 and 2014) that changes the valuation metric to the high side IMO
to get to $2.50 the progression needs to be something like 0.58, 0.61, 0.64, 0.67 exiting the year at a $2.68 run rate. To get roughly to the mid-point of the estimated range it has to be 0.58, 0.62, 0.gg, 0.70 exiting the year at a $2.80 run rate. This stock should be trading in the high 30's.