Anybody else following some of these newer MLPs like PSXP and VLP? Prices are just going through the room lately! I thought I was overpaying for PSXP when I purchased units around $33, but I liked the future prospects enough to buy some anyway and was hoping to buy more should the price drop back to the mid 20s. Someone seems to think piling in at $44 is a good idea. I also was interested in VLP but never purchased any units of that.
Haha, yeah, through the roof! My goof. As far as why someone would be crazy enough to buy an MLP yielding less than 10yr treasuries...I guess some people are attracted to (potential) growth factors to some of these new MLPs that have a general partner as big and recognized as Valero or Phillips 66. I chose to go with PSXP because I also own PSX (and also COP due to the spinoff), and PSX has seemed to make a lot of good moves. PSXP yielding 2% now, but distribution could almost double next year and keep on growing due to attractive drop downs.
Anyways, I just wanted to get people's feelings on some of these newer MLPs that don't get talked about alot. I'm trying to diversify my ownership into various energy segments that complement each other. A lot of great posters on this board, so I'm always interested in hearing what everybody here has to say.