If I might I would like to make a few general comments as I have been involved with mlp's for approx 20+ years
The years from 2009 to 2014 have been very good to the group. The end of 2014 until now 1 year has been drastic. All you who are trading mlp's now should go back to the stock market. There is enough volatility in APPL BABA biotechs AGN ETC to satisfy you. We are in a revolution in mlp investing. The funds have shorted the group to death-the upstream mlp's are being killed by oil price- the midstream group is being beaten up by NGL'S worth almost nothing and lastly the ETE buyout of WMB and KMI-KMP- MWE MPLX- will make the consolidation of the mlp group inevitable . With or without a premium NGLS ,MMP.PAA sands will have to be merged up. The country will export itself out of this morass as LNG Condensates NGL's will be the future.. There has been 5 years of 20+ growth and 1 year of -20+deficit. The market moves in excessive swings.
Just an addendum. CS had these remarks. Drop to TP of about 88-89. 15% for rest of 2015 and at least 10% in 2016. Not adverse to buyout. The Sunoco I speak about is SXL who can take the oil pipelines and Sun the retail Sunoco stations when ETP drops the rest of their retail stations. The ETE family works. By the way I had my lobotomy and live in Palm Beach Cty.
For all those who took my advice -sell in May and go away I applaud you. I personally am in the camp do as I say not as I do. MMP is my 3rd largest holding and my second most secure after ETE. One would think that because MMP is in the gasoline and diesel pipeline business ,storage of oil and other refine product business that they would have escaped the meltdown But they went into an expansion of oil pipelines last few years and the weak minded public and analysts associated them with oil. It did not help their 1st quarter results were less than spectacular While second quarter improved and 10% guidance for year end has changed their focus somewhat. So if you have a 5-10 % paper loss in MMP you are ahead of the pack presently. I still see them as the best buyout candidate in Mlp group. It may take 2 years but KMI and ETE will do it. ETE has Sunoco and Sun which are in the gasoline retail business and if they don't affect the refiners they fit in perfectly with MMP. MMP is sitting OK in this meltdown ala 2000 2008 and such, Stay with it