DAN DUNCAN DEALS...

EARNINGS AND A BUYBACK!

Yesterday i posted about how nice it would be to wake up to a deal. Well Dan Duncan must of heard me and bless his heart, always the accomodating soul Dan has taken stakes in two of them. He has taken a 4% stake in Teppco (TPP) and a 17% stake in Energy Transfer Equity (ETE) which holds a large block of Energy Transfer Partners (ETP). All of this will have a positive impact on Enterprise Products Partners (EPD) which will see higher distributions down the road. Bullish moves for all of the above and this could be a group mover.

We also had earnings news last night as Martin Midstream Partners (MMLP) puts up quarterly numbers. US Shipping also put up its numbers and announced its distribution. Trans Montaigne (TLP) which wins the award as the MLP with the most fabulous name...put up its earnings and announces a 10,000 unit buyback. Markwest Energy posted quarterly earnings. Markwest Hydrocarbon(MWP) also announced earnigns but the stock was down nearly 3 dollars ahead of the news last night so we'll find out this morning what has or has not been priced in on a stock that has more than doubled in the last 6 months.

Wachovia which has been busy cutting MLPS in the last few weeks is doing the oppposite today as it raises Eagle Rock Partners (EROC) to outperform from market perform. And by the way i was wondering yesterday why both Crosstex's (XTEX,XTXI) were up sharply...well it turns out XTEX got a goose from Morningstar while XTXI got a goose on Fox News Saturday. Thanks to readers Max and "vonhayek-schumpeter" to readers who posted the information in the comments section.....something i encourage all of you to do since sharing information is always a good thing.

Energy is mixed this morning with oil slighty higher and gas slightly lower. Stock futures are a little soft this morning so there will be a weaker influence at the open. More news as headlines break but i will be interested to see if the Dan Duncan stake purchases light a fire under the entire group. Yesteday took us back over 330. I think i'm going to throw in the towel with regards to predicting a correction in this group and just let things play out. It just seems there is too much money looking to buy in on any sort of pullback...even if its less than 2%.