Everyone said the same thing about PSX. Look now? Think it'll go back into the $30s? Doubtful. It ran up to $70, and anyone smart would of sold it around that. It fell back low and I re-bought back in. Same thing is going to happen here. This stock is going to continue to shoot up.... I wish I had the same optimism you guys have thinking it will fall into the $24ish range again. And just like PSX, the will adjust the yield according to the stock price. Give it time. Sitting on your hands gets you no where, that's one thing I learned.
A few days ago they were talking $19 - $20 per share and they got $23. This is a great price, especially since PSX still owns 76% including the very valuable managing partner shares. They did exactly did what they wanted.
In order to have a successful IPO you have to leave some meat on the bone for the buyers. There will be some investors who turn around and sell. Also the estimated dividend based on the $20 price is not that great on a $30 unit.