elliot_mllr

I would add compliments to management and to the Duncan family and its trust.
Elliot Miller

The recent deal with the EU will result in massive exports by the US to the EU of NGLs, which will materially benefit EPD' s export operations, a fact not yet noticed by the market.
And the Duncan family with its trust of a third of the EPD units, does not really manage EPD's operations. And EPD actual operating management, from its two co-CEOs on down, does have very nice holdings of EPD units.
Elliot Miller

Future NGL exports are another prospect for future growth at EPD without further material cash needs. Maybe that will create a nice position for the write off of the SPOT investment.
And EPD has excellent management which at many levels has an ownership position in EPD units, in addition to the Duncan one-third trust ownership.
I have owned EPD for many years and enhanced my position along the way.
Elliot Miller

@The Cardinal :
When I see your reaction I realize how correct you are about individual investors.
Elliot Miller

As a long time holder of EPD units in material amounts for my portfolio, I enjoy articles such as this one.
Elliot Miller

@Jedrzejczyk :
The midstream has nicely funded my retirement. I do feel comfortable in those investments, all of which have fine managements which themselves are nicely invested in their companies.
Elliot Miller

@koleffstephan :
SPOT stands for Sea Port Oil Terminal, which EPD considered building in the Gulf with a pipeline to the coast. It initially had one prospective customer which then backed out, and apparently no other serious customers have emerged, so the project appears to be in abeyance after considerable costs incurred.
Elliot Miller

@houtex :
You are now correct. That issue has been resolved.
Elliot Miller

Since MPLX is my largest holding I truly love these favorable articles.
Elliot Miller

@Risk21 :
I understand the issues and give management of EPD an favorable assumption that the facilities will justify their investments.
Elliot Miller

It's not a dividend. It's a partnership distribution. There are significant tax differences.SA ought to know that by now.
Elliot Miller

Since MPLX is my largest position I certainly enjoyed the article. One note is that the top management of MPLX and MPC are the same, with a highly competent CEO.
Elliot Miller

@Julie Lowe :
Certainly the SPOT project was an expensive non-performer. Interestingly, the company has not yet completely abandoned it, although as a practical matter it is currently going nowhere.
Elliot Miller

As a long term unitholder of EPD (going back to Dan Duncan days, with increases in holdings along the way) I enjoyed the article.
A word might be said about the extremely high quality of EPD management (starting with the two co-CEOs of its general partner), as well as management's unit holdings throughout all levels, as well as the Duncan family's holdings of a third of the units in a trust of which Randa Duncan Williams is trustee as well as President of the general partner.
Elliot Miller

@ephud :
You meant "deferred".
Elliot Miller

@skibumm :
Me 4.
Elliot Miller

I found interesting the fact that the return on equity for EPD of 20.2% is almost double that of ET's 10.6%.
I have material positions in both EPD (which I have owned and increased for many years) and in ET (which I own because of ET's acquisition of CEQP).
Elliot Miller

AS a long time holder of EPD units I found the article very pleasant reading.
Elliot Miller

What is a FPSO ???
Elliot Miller

Why no MLPs? The midstream assets directed at natural gas and NGLs are particularly the most secure.
Elliot Miller