ETP/Sunoco Merger (IRA, stock, purchase, sell)

[macyny]

I hold about 1,500 shares of ETP in both IRA and taxable account. I got burned with KMI and still hold it. I'm thinking I should sell ETP and take the loss. I'm sick over this. No warning this was coming.
I'm not sure what to do.
Anyone else in this boat?

[Wells5]

I haven't received ETP's reorg info yet. All I know is that the head honcho at ETP, Kelsey Warren, is a master at arcane financial engineering.


I've never actually purchased ETP. All of my shares have come through mergers and acquisitions, first with Sunoco, then with Regency MLP, which had merged with another one of my holdings, PVR partners. Figuring out the basis of my ETP shares was a major headache.


ETP has a lot of great assets. But Warren keeps on buying and merging and where this ends, nobody knows.

[macyny]

Thanks, I'm still holding but get a gut feeling its like KMI all over again. Seems no one saw this coming.

[Wells5]

Been doing some research on this deal and the main result will be a decrease in the quarterly payout per share from $1.055 to about 77¢. They were really paying out too much. The stock price will probably increase once the new shares are issued and the payout cut.