As a long time holder, over 5 years now (though johnny come lately compared to some here), this kind of feels like a spot where they announce a secondary offering. Always around all-time highs, just curious if anyone else has that feeling. Also, for newer folks, the secondary price usually acts as fairly good support that it usually trades a buck or 2 lower under the price briefly. Last one was around 52 I think.
Not sure of the precedent, but they probably wait until after the ex-date and after earnings are reported. A Barron's story ran online yesterday that the MLP sector will be looking to raise billions of capital in the 3rd quarter so you could be right. If one wanted to, they could sell a covered call and then hope to use the dip on the offering announcement to buy it back and pocket some money. Pick your strike price and expiration so that you don't risk getting called away.
after further review, it looks as if a number of well known MLP's are getting slammed 2% +/- today. Either more bad news (maybe they are all ponzi schemes as claimed by Hedgeye against some firms) or just a big institution taking profits.
It could be a multitude of reasons, however, if there is any news it will be forthcoming. The unit
price has risen quickly so it could profit taking. Note that I cannot predict or determine
short-term moves in any direction. I have held EPD for about 10 years and do plan
to hold and/or reinvest for the future. Bill
A really sily comment. Interest rates moved on sentiment that the Fed was slowing bond buying. There thus was a rotation out of ALL MLPs. You two need to not make silly statements and accusations. Where were your comments a couple days ago when EPD was up over a dollar? Was that manipulation too?
As to the Ponzi comment - It was not just Hedgeye but Forbes too. It was specific to E&Ps but included all MLPs. Got to remember for a secondary EPD needs less as they retain hundreds of millions more than any other MLP.
Huh, this is ludicrous.
Should the SEC also investigate yesterday's price rise?
Should they investigate you every time you buy or sell some stock?
You think they have nothing better to do?
Got to remember EPD generally has 2 secondaries eaxh year and is going to retain about $1B in cash flow this year. Would think we will have 1 more secondary this year. Bottom line is does it matter? If EPD has another good quarter and the upcoming projects get on line we will have the .01 next quarter plus a special. EPD is a strong steady tortoise and is winning the race.
I believe the last time was on 2/4/13. I've been wondering the same thing and thinking about selling for a week, but the temporary drop seems to recover in a short time so it's always a gamble. I accidentally caught it last time.