I've been reading up on BPL, and they make more profit when the price of oil goes down. BPL makes money per volume of oil pumped through their pipes. When oil & gas prices come down, there is more demand, and BPL gets their transit fee for moving more product.
Hence, the recent lowering of oil's price would seem to be a boon for BPL.
However, the market has sold the stock off. Why? The next few quarters should look very good for BPL.
Price is just going down with the general market. I agree, this price of this stock should be higher than the market has reflected. However, as long as they keep making the kind of profits they have been and continue to pay the 8-1/2% interest, I am inclined to hold and enjoy the dividends. Not too many stocks offer that kind of return. On second thought I will buy more on monday.