So not the SPO everyone has been waiting for, but I thought I would bring it to the boards attention that ETP has just done one. This presents a decent buying opportunity on already deflated share price.
Also to anyone thinking I'm spamming I apologize. Yes I do own shares of this, but it is has been a buy and hold (for almost 2 years now) to collect the roughly 8.00% yield. Anyways, I thought some of the traders on here might be able to capitalize and therefore why I am sharing
Brian, thanks much. I saw the news this morning, and was going to post the heads-up myself. Definitely relevant to many of the regular inhabitants of this board, so don't sweat the spam thing. For those interested, this SPO is priced at 44.57, above this morning's opening price of 43.33. I'm looking at the August 42.50 calls as a potential play.
Why should it be raising its distribution when they are already paying about 2% more than competitors like KMP, EPD and ETE? There is also potential for growth based on recent acquisitions of Southern Union (march) and currently processing the deal with Sunoco. But like I said my intent isn't to spam the stock just bring it to the attention to others who might be able to capitalize on the SPO