I recall buying MMP about 5 yrs ago, 38$ mol/pre split(16$) not counting dividends!
I didn't fully understand MLP's at the time, got beat up on the board because of the PE I referenced !!
I suppose I'm close to a 5 banger now, with a MPL; just lucky I guess
Great stock, and will get better. Last time I talked that way, ya all said why, why...............where's your math!
I say now the same thing I said for the last 5 yrs, everything points to up-side, even in 01-14
I'm delighted to read your note about getting into MMP..my experience was much the same..I was looking at some storage tanks near our town and wondered which firm owned them. Finding Magellan on the Internet I said, "Why not" bought a few units..then a bunch more...My wife calls her new Lexus "Magellan"...as for me I think of that TV commercial that talks about "gelling"...we're definitely "Gelling!!!"
Neither did the three analyst firms that trashed MMP for its willingness to pay 11x ebitda to buy out its GP. MMP tanked back then and I got in for my multi-bagger too. The huge bonus here is the sheer magnitude of MMP's ability to raise distributions at an annualized rate that has to be the highest among the bigger cap MLPs.