I would expect it to go as low as 25 once the distributions reflect current oil and gas prices. Few investors will settle for a 7-9% yield now. If you discount the stock price for a 15-20% yield, you get well below $30. Look at the MLPS like EVEP and Line now. They are hedged for four years and are yielding 25-30% at current stock prices.
good to see you and welcome back!
I've been buying over the last couple months, recently dumped in high 40's, and bought back in yesterday a tad above 39. I agree that this is a great price point, and I hope to continue accumulating...
Just bought back in today. Had owned this one for a long time but sold out when oil was spiking. Then yesterday I ran a coorelation between the price of oil, distributions, and stock price for the last 5 years and it told me anything under 38 was a buy. Got it today in the mid-36 range and am a happy stock holder again. Like before I will hold it for a long time unless another big oil spike occurs (but I don't think that will happen again for at least a couple of years).
This is one you can sleep with at night even if its price is falling. Good luck to all!