With the boat anchor propane business gone, it looks like ETP will be able to effectively start raising it's distribution this year. That being the case, I expect the units to start trading more in line with the other NG/NLG MLPs; anticipating some nice upside here.
Actually checked that out before I invested. Using TD Ameritrade. They stated that they honored the discount, so I bought through them rather than setting up the DRIP program. If you're interested in discounted dividends, check out WTR. A water utility that discounts the dividends the same way ETP does. It's been quietly growing revenue, earnings and dividends at a decent clip for years. A good solid, steady return.