It is more likely than you would expect. Check out the latest presentation from APL. The $400 million in preferred shares turn in to 13.4 million common shares in 2 years. ($29 a share for those special people) Add in the shares that may be sold on going and 90 + million APL shares vs 52 million or so ATLS shares in 2 years or less.
Multiplier in high IDR's will be 90/53 or 170% of the growth of APL distributions over 60 cents per share. The same will happen with ARP.
APL at $4 pe year gets ALTS another $2.72 compared to another $1.4 for APL not including the common shares ATLS owns. ARP will have similar math at some point.
I could go into the drivers of the rise from current $2.40 to $4.00 on APL but think the 2015 time frame is a bit agressive. Natural gas prices would have to cooperate.
ARP would need a bit lower growth to have the same impact,
If I were doing the estimates I would go out to 2016ish for possible over $7 from ATLS.
Nice to think about.
Maybe I should keep all my shares instead of diversifying more.