turtle: Anyone have any information?
Per Citigroup Research:
"* Sell-off Driven by Market Panic - Energy Transfer Partners,
L.P. (ETP) is widely held by institutional investors some of
whom are under severe pressure to buffer liquidity. In our
view, the need for liquidity caused the sharp sell-off in ETP
that we saw earlier today with units down as much as 15% at one
point.
* Volatility Creates Opportunity - While volatility is likely
to continue as institutional investors are forced to liquidate
positions, the recent price decline has created an opportunity
to buy into one of the most compelling stories in the MLP
space. We expect ETP to deliver distribution growth of 9.4%
over the next five years. "
Regards,
Lew