APL could be one of the best buys in the midstream sector, and the market. Great opps in the Miss Lime and the Permian, will have a challenge keeping up with the drilling activity, SD and PXD. The wisdom has been to buy the GP, which still could be the answer, with ATLS exposure to APL and growth at ARP. But APL could be paying $3.50+ in a couple of years, at a 5% yield, $70. This is a time when you have to just look at the value and buy for the long term. Seems both APL and ATLS could double easily, with APL, you don't have the e and p risk, might increase the yield assumption at ATLS.
There is some shifting of money from dividend plays to high growth stocks. However, the fundamental storyline with APL is constant: substantial growth in the natural gas segment in general, which will be reflected in APL's continued strong growth. I'm keeping a big chunk of my investment funds in APL and enjoying robust current dividend payout and growth, and long term appreciation of APL stock.