Made Another Round Of Purchases Of ETP

I redeployed some cash from yesterday’s sale of BAS, bidding up ETP for $57.64.

They announced today that they’re building a new pipeline connecting the Bakken oil reserves being built out in North Dakota to Illinois. More importantly, they announced they already have commitments from shippers in the form of long term agreements.

I like this partnership a lot. It pays almost 7% in distributions to unit holders annually, and their operation has a lot going for it.