Stumbled onto it and wondering what the deal is...has to be something going on, and it's not the hurricane because the stock has been low for awhile. Does the stock (profits actually) go up and down with the price of gas or oil?
Or is ETP a "value added" company, and makes their profit on the difference between the cost of energy versus what they sell it for, so the price of energy perhaps does not matter - it is passed onto customers?
ETP has not increased its payout for years while others keep raising their payout.
It made two major acquisitions-southern union and sunoco.
Sun has retail gas stations and ETP would unload it,as they are not a good fit or not that profitable.
Also all these acquistions mean they will issue more units and dilute the earnings.
Go to Library and get a copy of Value line coverage of this stock,not that bad and the payout is good.
Certainly a mixed message. First - the retail stations are very profitable as most of them have been owned for years and leased - not company operated. Agree they do not fit well into a MLP and will be sold, but little paid for them.
ETE bought SUG, not ETP, but most SUG assets dropped down in the last few weeks. Untis for SUN buyout already issued and with Carlysle taking a JV on the refinery - already marked down to zero - there is considerable upside.
Listem to the CCall tomorrow. Will be interesting as so much in transition.