well, it is making lower lows now, so anything is possible. A ceo from Gulf predicts oil prices to be around 50pb by the end of the year. I think epd needs to bring it in the next earnings report, and up the dividend as well if we want to see new highs. I think EPD is also expensive with a pe of 23. I am a holder of EPD for now.
Debbie - You are showing that you need to learn more about MLPs by your comments. P/E means NOTHING for a MLP. Any infrascture company that is growing at over 10% a year will have a high P/E because of the huge depreciation allowance.
Others have already addressed your $50bbl oil comment. If it is true then how? The reason is that shale drilling in the US, offshore drilling worldwide and most other drilling would stop because it would not be profitable.
I don't think we will ever see $50 per barrel oil as long as Obama is in office and his policies are in place. I would agree it could go drastically lower than current if the US was allowed to develop her resources to the fullest extent. It sure as Hel# doesn't bother politicians to send our boys and gals to fight on foreign soil. The cost of that oil could be north of $250 per barrel. My two cents
Oil at $50/b isn't going to happen. Russia for one needs $90/b to cover expenses of operating in coooold Siberia. Other countries need high pricing just to cover expenses,too. If oil drops that low, just watch drilling stop until price goes up. OPEC would cut production as well. As far as EPD hitting new highs, count on it. EPD has a lot of avenues open to it and enough projects underway to keep building DCF. It's too big to soar quickly but will just keep going up..and,hey,sooner or later Bernanke's money printing will get inflation moving..and at that point EPD and other energy companies will score nicely as inflation hedges....