Spectra Energy Partners LP (SEP)

Spectra Energy Partners (SEP-N) or Spectra Energy (SE-N)? He likes both stocks. These MLP structures are quite complicated. There is generally the General Partner and a Limited Partner. In SEP they are separate, and has SE as a general partner and SEP is the Master Limited Partnership. The market prefers a company with enterprise products where they are rolled into one company, which it feels eliminates a conflict of interest. SE has outperformed SEP by quite a bit over the past year, so this is probably more of a bargain.