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Enterprise Products Partners L.P. Message Board

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  • factoids2002 factoids2002 Jul 21, 2009 7:53 AM Flag

    For those wanting an MLP in an IRA

    [1] EPD has produced negative UBTIs the last three years - which means over that time period, it has not been a problem to hold in an IRA.
    [2] Over the LTM [comparing year over year distributions from the second quarter], EPD's distribution is up 5.91%, over the last 24 month the distribution is up 6.38%%/year, and over the last 36 months the distribution is up 6.93%/year.
    [3] Over the LTM, KYN's dividend is down 3.03%, over the last 24 month the distribution is up 2.75%/year, and over the last 36 months the distribution is up 3.88%/year.

    Add to that, as of 7-17, KYN was selling at 124% of NAV. Of course, EPD always sells at 100% of NAV.

    So you - ch4_tycooon, are suggesting one buy a closed end fund at a 24% premium to NAV that is growing the div/distribution substantially slower than EPD . . and you have the belief that it is just as good as EPD because the 'charts' have been close to the same over the last six months????

    {note - while I try to play well with others, I do not get along well with 'chart readers']

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    • <<<So you - ch4_tycooon, are suggesting one buy a closed end fund

      No, I am saying that I have seen on this board some folks desiring to hold MLP's in an IRA. The CEF I pointed out would allow for that in a relatively simple fashion.

      I own EPD directly, not in a CEF, and I point out that there are hefty fees to the "privilege" of owning a CEF.

      <<<while I try to play well with others

      You sound more like a prick to me.

      • 1 Reply to ch4_tycoon
      • Then, let me ask - hopefully in a less prick-like way, that you explain your logical justification for your suggestion of KYN over the other MLP CEFs. The year to date stats for the MLP CEFs - http://www.investorvillage.com/smbd.asp?mb=5028&mn=8276&pt=msg&mid=7603911

        Of the nine MLP CEFs that I track, KYN has had the third best NAV appreciation - which it pretty good. But if that is one of your criteria, then why not choose the CEF with the best appreciation [TYY] when it sells at a much lower price/NAV ratio?

        Why are you suggesting the one MLP CEF with the highest price/NAV ratio? Why are you suggesting one of the MLP CEFs that have cut its div over the last twelve months and not one of the MLP CEFs that have raised the div?

        And why suggest a remedy to a problem - which to me implies that you are continuing the false expectation that every MLP has an UBTI problem when held in an IRA?

        Why not share your UBTI experience [the data] with EPD since you have held those units?

 
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