EPD has been a great investment for more than a decade and could be for several more years. Great prospects, good management, conservative long term perspective. $2.80 distribution by year end '13, 4% yield, $70 unit price, 30%+ return.
you're assuming the distribution isn't going to grow, which we know it will, and apparantly at a greater pace than what we thought. 70 is a bit aggressive, but depending on cash flow, it's possible. If the DIV tax rate increases, MLPS are only going to be more desirable. close to 5% with usually no tax (before unit sales) is a lot better than 8% with a 40% tax hit.