The recent closing on the Dreyfus assets starts the flow of a higher cash return on the new equity than the peanuts gained from paying down the revolver. Only 2 mos for 2Q plus the burden of DD and closing costs. 3Q will show the initial impact with cost savings showing in later quarters.
Gotta be patient with ETP. Lots of new investments and expansion projects will hit dcf in three quareres or so. Then the distribution increases. All good moves, imo, in what just has to be much larger gas (and gas liquids) volumes in the coming years. Pickens is our best friend, spending bunches of his own money to boost gas consumption.
Just sit back and collect your tax sheltered yield.