No news. EVEP went kind of parabolic a couple months ago. Unit price is still up about 27% year-to-date even with the recent plunge. I think some big holder needs cash urgently and is dumping. Could be a hedge fund facing margin calls or one of those MLP ETFs or ETNs dealing with redemptions.
I considered selling a week or two ago, but the tax consequences would be horrendous. With the recent pull-back in the unit price, selling is now not so appealing.
Sure looks like a fabulous buying opp. for anyone with a long-term outlook. EVEP is by far my biggest holding, so I won't be able to add more units, unfortunately.
EVEP rose too much last month
Yields below 6% for a very gassy but very well run MLP.
Too low a yield for most mlp investors.
And ng looks frozen in the low $4s.
If you believe that ng vehicle fuel is at hand, EVEP is a great play - If you believe that "at hand" is an extreme overstatement - then you should/can find a better place for your $$$.
If the yield hits 7% and congress shelves new MLP tax treatments, then I'll jump back in great buy.
I held EVEP for 7 years - but I just couldn't justify keeping it with ng frozen in the low $4s.
no news that I know of, looking at todays chart though, I wouldn't be surprised if it was due to someone with a large position that had stop orders in at 51.25, 50.25, and 49.25. that's were all of todays volume is clustered around. just a guess.
CMLP took a similar hit yesterday, on no news.
I thought that EVEP drop was due to options expiration. There are lots of $55 call options but not many $50. Maybe they are trying to protect the call options that they sold.
I had sold a bunch of EVEP around $55 but am now increasing holding again.