Except distributions nothing good with this stock. No performance at all. My recommendation: AVOID
Not a good time to buy this stock. Many MLP stocks was up today. MWE is floating as usually.
Many times securities get undervalued in the market. They sometimes get so undervalued short term that even people that should know better have doubts as to the true value and believe what other people are doing and saying even though they will be proven wrong with the test of time.
MarkWest has set themselves on a growth pattern and they are executing their plan and in time their strategy will provide huge returns for those that were able to visualize the future and act positively on it.
In answer to your question-- Is that why MWE is up 2% today?---
It is the realization that MWE is a better value going forward than CPNO and it is worth more now and will be worth more even later.
PATIENCE- The distributions are going higher going forward and that will drive MWE's price higher with them.
dubson - You have absolutely no clue. Looking as always at single day preformance. That means nothing. EEP and EPB down significantly today and other also flat. The big guys were the real uptick today. Not sure how you ignore the distribution in looking at preformance. Try comparing MWE to MSFT or INTC and what does it look like?
What you are missing is the midstream processors - the APL, ACMP, WPZ of the MLP world are all not moving much or are down and they are not going to move much in 2014. The reason is NGL prices stink! There is an oversupply and will continue to be an over supply. The processors are expanding based on the future. That future starts when ther pipelines and new processing facilities including large export open starting in 2014. When that happens the DCF for MWE changes. The distribution is now $3.28. That is likely to go to about $3.45YE 2013. That suppports about $60 per unit. However DCF estimates by the 6 largest analyists suggest $4.00-4.10YE 2014 and $4.80-$5 YE 2015. That is greater than most other increases in the 2014/15 years. Do not always agree with B&W, but this time patience should be rewarded.