Why would you think that? There's no such thing as a "safe" stock. The stock is down 50% from its high and has yet to find a bottom. If they don't cut the distribution, you're looking at close to 10% yield. At this point, this is more of a long term buy then a sell. Mgmt has indicated that they expect business to improve in the 2nd half of the year. Let's hope so. In the meantime, there's always the possibility (a growing one as the price continues dropping) that their GP, OKE will #$%$ them up.
I can only hope you're right and that they hit their second half projctions. The relentless selling doesn't appear to be abating, which is potentially telegraphing that the street is anticipating a cut.
Perhaps the market is anticipating a reduction in the distribution. After all, in the past 6 months or so, we've gone from high single digit distribution growth projections, to low single digits to zero growth based on the May distribution. The yield is north of 9% and climbing... I hope that Terry and his team have a good handle on the situation.