Sold off most of my position early on; still holding a little. Watching day by day. Another week and half and tax loss selling should be done. Having that said I suspect the teens between now and some time in 2016. We could run up to about 31 based on past op. cash flow numbers from past quarters.
On the positive side, SXL ME-1 should be moving ethane along with propane the end of Q-4 or early Q-1 2016. I suspect propane usage up in coming 3 months as winter takes some type of hold. Should weatherbell among others "forecasts" hold, expect we'll be cooler this time next year.
Have to agree. I sold NS a few years back. Didn't like management. This is a multi-billion dollar merger proposal. It appears the institutional investors like it as both stocks are holding up well. Be thankful. If you want to see an example of a multi-billion dollar merger that has go to hell, check MPLX and MWE, from mid-July to date. Yet MWE management is pressing on.
The need for future build out has been pushed by E&P likely 1-2 years. They are all cutting capex for 2016. One reason I don't trust MPLX distro. growth projections. The IDRs guaranty nothing. If they are then perhaps MPC should provide a fraction of their shares in addition to MPLX.
In my case at this point, there is nothing MWE management can do to change my vote against the merger. Semple needs to be replaced, and I look forward to that should the merger fail.