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One Chart Says It All (In Pipelines Anyway)

|About: ALPS Alerian MLP ETF (AMLP), Includes: CEM, EMO, KYN, MIE

I think we've gone past "out of favor" into outright disgust for pipeline companies.

It is true that the rate of growth in distributions are slowing, maybe temporarily, as companies take a more cautious approach.  But they are still GROWING.

But looking at the chart, you would think we're at the bottom of a great recession.

A once in a generation opportunity?  Or value trap?

Here's the chart of KYN, one of the older funds in the space, left without comment.  

(Forgive the quote from Coppola, thought it might be relevant)

Disclosure: I am/we are long KYN.

Additional disclosure: I am long a ton of MLP CEFs.