It will reach class action status as TRGP clearly did not act as a fiduciary. A buy-out offer shines a bright light on management conflicts of interest.
Does this stock have a bottom? i mean the folks running NGLS p'off somebody that is targeting this stock. News sure doesn't warrant a 20% drop in a few days on a stock already smoked.
The pipeline sector is in better shape than Big Oil like Exxon and Chevron - they also have a lot of nat gas transport to power plants and factories. . .I think most pipelines will muddle through this low oil price environment. . .Saudi Arabia is actually borrowing money to prop up its government spending, and that can't continue too long.
Given the poor commodity price environment, coverage of 1.10x looks fairly good. If they can achieve 1.0x or better throughout the year, then I think it will be a testament to how well they have managed the business a terrible environment and also given how poorly timed the APL merger was.
I think Targa will trudge through the malaise, clearly growth is slowing down but maintaining 1.0x coverage is huge to surviving.
You might be correct on the class-action lawsuit ...... the trolls are everywhere. But no one could predict with any semblance of accuracy what these prices would be today. As the saying goes ....... if you want to be right about Wall Street ...... predict and predict often. One of the predictions might come true.
Stay tuned ...... tomorrow is the earnings release and call.
Very true. Next up: class-action lawsuit against TGRP for failing to act as a fiduciary in the NGLS buy-out attempt by ETE.
The street is finally realizing there are no suitors for buyout hence the crashing stock price. Need a new GP as TRGP guidance sucks -they could have bought APL now for about half of what they paid last year. Stock off 50% off 52 week high- if not one of the worst performers pretty close.
put increased pressure on electrical utilities to either convert more coal fired boilers to natural gas and/or build new smaller gas fired boilers. How will coal fired utilities be able to meet new emission standards. Isn't this a slam dunk for additional natural gas demand which should be positive for NGLS or am I missing something.
Look at LINE today. Stocks are not isolated entities. They move as a herd and the herd is going over a cliff!
The best one can do in such situations is to sit on ones hands and watch safely from the sidelines.
When there is a PANIC get out of the way. Then after the last buffalo has stampeded over the cliff - it is again safe to walk the prairie and buy.
Be nice if this #$%$ fund would just blow up and quit selling NGLS at a stupid level. This stock should be above $50. Crazy it can't hold $40
Markets can do whatever they wish. Even so, there is an announcement of the next dividend and it is a (small) raise from the previous. The various media will spin this however they choose, but I am happy to keep my shares and may add a few at this price.
Cramer said this morning that MLP's will head higher when a firm(i am hearing about) "blows up." Fits in with comments the other day about leveraged closed end funds forced selling. In any event, non company specific selling and a nice, seemingly secure dividend, and possible M&A target say good place to buy.
That news is being reported on CNBC and other venues and makes perfect sense. These leveraged closed end funds get margin calls on their holdings and must liquidate as stupid investors who bought them are being told by "advisors" to sell before the Fed raise. Its all wall st BS of the highest form.
And, selling breeds more selling.