$25nl - flop reraise with 12 out draw in 4-way pot

Hey guys -- I bolded my question about my flop raise in the hand history. Big thanks for any input! --robfitz

PokerStars No-Limit Hold'em, $0.25 BB (8 handed) - Converter Tool from FlopTurnRiver

BB ($12.90)
UTG ($5)
UTG+1 ($23.50)
Hero (MP1) ($25.75)

I limp from MP1 with J9s. Everyone behind folds and I have position on 3 other limpers.

Flop: ($1) 4s, 7d, 8s (4 players)
SB bets $0.75
BB calls $0.75
UTG+1 calls $0.75
Hero raises to $3.50 <-- This flop re-raise is what I am questioning. Calling seems like a bad idea because of the risk of a higher flush draw. After this raise I have pot odds to stay involved for the rest of the hand, but should I have folded here instead?
1 fold
BB raises to $6.25
1 fold
Hero calls $2.75 <--4.45:1

Turn: ($15) 6c (2 players) <--3 more outs
BB bets $6.40 (All-In)
Hero calls $6.40 <-- 3.35:1

Total pot: $27.80

Calling seems like a bad idea because of the risk of a higher flush draw.

This makes no sense because you're not getting a higher flush draw to fold or incorrectly call with your bet.

Get PokerStove, plug in some stuff and figure out what your equity is on the flop against ranges that continue to your raise. That type of stuff is how you'll figure out what to do.

Just call here because you have position and a re-raise usually gets it in bad or as a flip with not much dead money in the pot yet. Also, you want to keep hands that are drawing second best to your flush in the pot so maybe you get action when they make a second best hand, although a spade will slow down non-flush hands.

I can understand the raise, just not for the reason listed. I would raise here to win the pot as early as possible. You don't have a made hand but you have outs (your about 49% to make your hand after the river). The raise also give you fold equity, if they fold just 5% of the time, your a favorite to take the pot either now or by the end of the hand. I like the raise