Crestwood Equity Partners LP (CEQP)

[pete807]

Yes all of these MLPs are a little different and further DD l did on Crestwood led me to a R/S of 1:10 on 11/24/2015 which had me wondering, so I read more.... Discovering CEO Phillips' career history back to a company he was then CEO of from 1999- 2004 (Gulfterra Energy Partners), which was acquired by my largest holding EPD. Then EPD hired him as CEO for 4 years till 2008. EPD is the largest pipeline MLP. His next venture in the energy sector was Crestwood Midstream CMLP which acquired a K.C. Mo co, NRGM in 2013 becoming CEQP, creating an 8B valuation, (about 1/7th EPD)
http://www.bizjournals.com/houston/blog/drilling-down/2013/10/whats-next-for-crestwood-after-major.html
I was was considering starting a position when I saw them included in the Alerian June report and still may. They are up to 625 on their way up to a place in the Fortune 500, (were 810 ) so they are different from NGL.
Here I will admit: The reported -$54 per share loss made me miss buying it cheap in March for $9 missing the rebound to $21+ now since they cut their distribution again. Yahoo says they were at $144 equivalent and paying $4.15 per quarter. Feb 2011, and continued to pay $4.15, then fell to $67 by Feb 2012. All this was before oil went from 140 to 26...
I am used to confusion of how MLPs are tracked and valued for taxation. There is a lot to absorb and most just avoid them, but they miss out.
Maybe you knew of Phillips and his companies and were confident he would turn it around?
CEQP and NGL, along with other winners we have that survived by making tough decisions will eventually raise their payouts again I am sure. I am near the end of discovery on CEQP so where do you think they are headed. My guess is if oil continues up they will get to $35-40.