I'm starting to feel the same way, every day I think it will reach a bottom but it keeps going down. I do feel EPD is a good company but it's starting to make me wonder as I'm down about $14k and it's a major position in my IRA as I'm retired and used to work in the pipeline division for three oil co's. Years back they said when a new one was built that it would take about 3.5yrs to pay for it self ! I hope that we run into some sand on this silppery slope. How can some of the smaller Mlp's be going up when this giant keep's going down? LOL to all Jim
The reason is really simple - reallocation. It is just about done. Several of the major brokers could not sell ETP and a couple others because there were sell recs on them. In the last 3 days those sells turned into hold/quasi buy recs. Thus managed money by the bucketful is moving into ETP and others beaten down and now having better looking prospects. There is also some rotation by that some money out of MLPs. Those $$ ebb and flow.
jim - Am wondering what you are calling a "slippery slope? The market is down. If you compare EPD to the DJI the Dow is almost exactly even in last 6 months. EPD is up 2% and has paid about 4% in distributions. EPD is only down 6% from its all time high. Not exactly sure about a pipeline paying for itself in 3.5 years. According to KMP it takes 18-30 months to get permits and construction done and then 18 more omnths to fill it. EPD has a coverage ratio and retained cash that are #1 in the industry. The distribution is secure and will grow by about 6% a year going forward. You cannot have owned EPD very long as it has only been above the current price for a couple of months. Suggest you relax.
There is absolutely nothing happening with EPD. If you doubt that call them. EPD is still my largest holding. Love the reinvestment price with the discount.