Enterprise Products Group which is a energy MLP which along with the entire group has been hammered much lower today released a statement that the new FERC policy ruling today related to MLPs not being able to recover various income taxes.
The statement simply says that the ruling will not have a material impact, if any, to EPD.
Geez, what a surprise. I guess the shoot now and ask questions later probably overreacted just a bit.
MLP Genesis Energy (NYSE:GEL) has issued a similar statement.
We do not generally own MLPs now, but we do have shares in some baby bonds in the segment.
Thanks for posting – I’ve got EPD.
EPD rallied back 6.57% off of the low’s yesterday. Thank goodness!
EPD is the last MLP I still own and that makes it the first to go as soon as it gets back to a decent price. Talk about 1 step forward and 2 steps back.
I really like this MLP, but once the years tick by and you sell or they convert to a C corp (possibility), the recapture nightmares and taxes wipe out years of gains in a flash.
Hi Leonard–I have a measly 150 shares of Enbridge in my ‘play money’ account.