Be Still My Heart. Enbridge Partners Boosts Its Distribution!

MLPS moved late in the day yesterday and closed up over 2 points on the index and as a result we have now nicely cleared 310. So out of that W bottom formation on the chart i would say that we should make a serious challenge to the all time high of 342 in the medium term.



Meanwhile the Enbridge Energy Partners (EEP) holders are the definition of patience. They have not seen a distribution increase in years. And as a result the stock price has really gone nowhere over the long term. Your money certainly could have done better in many other MLPS.




The 3 year chart above actually isn't that bad but take a look at the 2 charts below and the story is a bit different.

Notice that the stock has essentially gone sideways since the late 1990s...co-inciding with a period where distributions went nowhere. And in the last 5 years the MLP index is up 100% while EEP is up far less. It has been a chronic underperformer.

Well wait no longer and let there be dancing in the streets as Enbridge posted earnings last night and boosted its distribution 2.5 cents and is indicating that more increases are possible down the road. Enbridge btw has an a 4% weighting in the MLP index. Also late yesterday Wachovia made some moves as it started Martin Midstream (MMLP)at outperform...it upgraded Teekay Energy (TGP) to outperform and it started Holly Partners (HEP) at market perform Speaking of Holly Partners they posted earnings this morning which look pretty good. Last Friday they hiked their distribution by a penny.

Stock futures are lower and oil is down nearly 2 dollars this morning.

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