To all you Cramerites that just bought EPD based on his recommendation:
It is a free country. You are welcome to your opinion, and welcome to post it on this board. Many of us here have owned EPD for many years (myself owned a predecessor company of EPD [Leviathan Gas Partners) since 1995). We are not that interested in your short term trading strategies. If you bought this MLP based on Cramer's recommendation and are expecting big/quick moves up, or are shorting this because Cramer recommended it, you violated Cramer's rule: do your own due diligence.
There are a lot of good reasons to own EPD. Stick around a while and learn what they are. And get your facts straight:
1) midstreamMLPs have a sizeable debt load for a reason 2) midstream MLPs have operational issues like other asset-intensive companies 3) midstream MLPs will make you wealthy...but not in 6 weeks 4) midstream MLPs issue partnership units, not stock 5) midstream MLPs pay distributions, not dividends
I think you are wasting your time. Most of the recent posts are just trolls, nothing more. If any are short they will leave the board eventually, about the time of the ex date on the next distribution. For me time to leave this board until all the nonsense subsides.
Suggest you and other regulars simply rate the posts by the idiots with 1 star. They will then disappear at the default setting. Agree w/pass n shoot that the newbies are not getting what an MLP in general and EPD specifically are all about.
WOW!!!!! OHHHS NOES EEP has debt also!!!! Guess EEP is about to close!!!! Everyone buying in on cramer's sayings need to grasp the idea of long-term investments. People today buy in thinking they'll make huge sums in days, instead of years. It's a symptom of the "I want it now" society. The market is not whatit was in the late 90's when you could buy tech stocks using a dartboard and make 200% in one day.
How about research it yourself and invest for the long-term? Go do your homework!! The lifetime of EPD has produced almost 200% return, not to mention the dividends paid out, again, LONG TERM investment. Want to play day traitor, go buy some Apple and ride the roller coaster.
Also, go compare what the max contributions paid out to the GP by EPD. The caps by EPD are much lower than other MLPs, which means more money gets rolled back into the company and to the LPs.
3/31/2008 6:49:03 PM Enbridge Energy Partners, LP (EEP) on Monday said that it priced a private placement of notes consisting of $400 million principal amount of 6.5% Notes due 2018 at an offering price of $99.466 to yield 6.573% and $400 million principal amount of 7.5% Notes due 2038 at an offering price of $99.711 to yield 7.524%. The offering is scheduled to close on April 3, 2008.
The company said that it planned to use the net proceeds of nearly $790 million to repay a portion of its outstanding commercial paper and credit facility borrowings that it used to finance a portion of its capital expansion projects. The remaining net proceeds will be used to fund a portion of its capital expansion projects.