For whatever reasons, oil looks like it is going lower into October, and the Iranian start-up for shipping oil, so I think the price of all these MLP's just keeps going lower.
So I am keen to buy in, but I think we are going to see lower, possibly steeply lower, prices in the next two months.
If we hit $30, $25 or $20, want to guess what the SP looks like then? I would buy a chunk at those prices and I think we may see it from here -- Boone Pickens and his $70 by Xmas was badly wrong -- but June '16? Who knows where oil is then or Xmas '16.
The more he is telling everyone the broken structure of ATLS/ARP will remain intact and he doesnt have a clue even now as to whats wrong.....the dope actually thinks ATLS GP is worth something......its not as ARP is broken with a GP and wont grow nor pay a dividend in 2016.......this guys are bad as you can get as operators, strategists and being honest
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buk957, i got stopped out way back at $3.25 but I was able to buy into ARP at $2.50 on that huge drop right into earnings. Good Luck!
Temporary relief that it isn't going to zero by next Friday. Still down 20%+ for my kids college accounts in 2 weeks. Could use some more bounce though. C'mon
Leon! I've still got the faith you haven't gone "sleazy Wall Street" on us. Best of luck to all longs.
The chart doesn't reflect the spinout transaction that was effected with the merger of TRGP. Basically, TRGP bought the gp interests that ATLS held in its mlp, APL in conjunction with NGLS's acquisition of APL. At the time of that deal announcement, Cohen said that ATLS would pay a distribution of $1.35. Two weeks later, they reduced that estimate to $1.10. Then when the "stub" piece couldn't trade over $5, they had to announce a reverse split so that they could list the units on the exchange. The stock was around $9 after the reverse split. But they kept the distribution projection at $0.55 split adjusted.
But then everyone suspected that ARP was hitting their debt limits and would have to cut their distribution, but instead of fessing up, ATLS filed a registration statement with the SEC with the 55 cent projection. Two weeks later, ARP cut their distribution in half which meant ATLS would receive no IDR payments. Then ATLS announced they were suspended their May distribution but would pay in Aug. Then in June they suspended their distributions until 2016. In 2016, they will suspend distributions forever (if they make it that far).
Down 50% in two weeks. $3, my friend? I wish. It's almost at $2. I'm ready to contact a local catholic church official to get an exorcism for Leon Cooperman.