Unfortunately this has nothing to do with ETP, only ETE. I may be wrong but I will look into more...
ETP is dog compared to ETE. Very frustrating...ETE has good news and it blows past its 52-week high, ETP has good news it goes up 1 to 2.5% then back down to the very slow moving trading range. At least ETP bought a low-margin gas station retail business. ETE seems expensive and ETP seems cheap? What am I missing? Is ETE really that much better then ETP? I can stop ETE from going up, just sell ETP and buy ETE - but that is not going to happen. Been a unit holder/shareholder of ETP since 2012 - believe ETP is very cheap to peers and deserves a lot higher share price. Tomorrow is going to be frustrating seeing ETE going up huge and ETP doing nothing. Yes, I am complaining...
Warren controls both ETP & ETE and with past transactions has moved assets between
both entities........so IMO the deal to buy Targa will be positive for both ETE & ETP.
News today states that talks have been terminated & ETP has dumped. No big deal
to me. Warren is an aggressive CEO and has a record of doing deals "almost too fast"
All Warren has to do to re-initiate the talks is pick up the phone & sweeten the deal
terms a little.
This "ETE/ETP gets Targa" story is not done yet. Those Targa LNG export assets are
"golden" to a growing transport firm like ETP with an aggressive CEO. Stay tuned.
I have been long ETP & NGLS since the fall of 2009