FGP is cheap because they are barely able to keep up with the distribution payout. AG Edwards puts out a monthly analysis on alot of the MLP's, FGP is always just making ends meet whereas many of the MLP's actually have coverage ratio's that are in excess of 1.2x or 1.3x. FGP usually has a coverage ratio of maybe 1.0x. In other words, they have just enough cash to make the distribution and nothing left to set aside. Nonetheless, it appears to me to be a decent MLP. NRGY is by far one of the best MLP's around, look at the growth in the distribution, anyone who bought it 2 or 4 years ago when it came out of the chute, is now getting a fabulous yield on their original purchase price(don't foget it has split and sometimes yahoo messes that up, especially on dividends and distributions).