Things are very very different today. The spread between buy and sell used to be about 2% today it is often ONE CENT. You also paid more if you did not buy in 100 share lots. Today - makes no difference. You can buy anything up to 1000 shares with as low as a $2.95 comission. Nothing to be gained except liquidity for small companies. EPD certainly does not fit that example.
Will they split - yes. The time has nothing to do with it. Most MLPs simply want a price under $100 as that is sort of a mental mountain to climb so they have historically split when priced above $80 for a while. Remember a splt creates only costs for the action - no real value.