Your comment makes no sense. Also the "In Play' headline is sort of stupid as it relates to energy companies. EPD gets paid to fractionate, transport and market "energy". With the prices down their revenue is down, but they are mostly paid on demand and fee based charges. Thus a shortfall in revenue has nothing to do with anything. DCF is the important number and EPD had a 1.5X coverage on a continuing basis excluding one time charges and assets sales.
The significant take aways from the conference call were that NGL prices are likely to stay down for the next year - no surprise there, that offshore the drill rig count is up but they are loooking for oil and not gas so the legacy gas assets in the Gulf will continue to decline in profitability until the next cycle, last is the EPD has built several projects on what they called ahead of schedule in order to shut out their competition. ATEX is an example of this. These and other projects they anticipate will have improving margins in the future when exports get into gear and prices for ethane rise.
Sort of a ho-hum quarter with EPD retaining another $2B which means they did not need to issue some 40M units. Lots of other companies and MLPs wish they had EPDs problems. And EPD also guided to a continuing project load of organic projects in the $4B a year area +/-. Guess that means another year with ever increasing distributions that are secure.
ARB...there is no doubt that you are the king of understanding MLPs. I have read and admired your posts for several years now and have owned EPD for over five years. I guess I shoud have added to my post how worthless analyst opinions can be when it comes to understanding MLP's and the energy business as a whole. My post was informational only. Notice my sentiment of HOLD which I plan to keep on doing. Will give the shares to my kids when I die...Stepped up tax basis for them is my plan.