02-02-2015, 10:31 AM
I like EPD and hold shares in my longer term account. But as far as "bargain", I have a hard time considering shares as being anything close to deep bargain territory. Just a couple of years ago shares were selling for under $25 (under $50 pre-split). Go back three years and those shares sold for under $20 (under $40 pre-split). EPD has certainly continued to execute well, but in my mind, the inherent value of the company is not 40%-75% higher than of the value such a short time ago. I'm in slow patient accumulation mode with this one, and my next buy point is under $30. I'll not feel really good about the purchase price until current yield is above 6% once again.
Alex