Yes I see from the IPO info lots of investment to process domestic fuel oil. I put in for a small amount, Price range $16-$18. I did not get the shell spinoff be interesting if I get allotted any shares here.......thanks
The development of this crude-by-rail infrastructure in the Bakken, together with extensive existing railroad infrastructure and recently developed unloading facilities such as the North Yard Terminal, provides those refineries without any pipeline connection to the producing basins with low-cost crude oil relative to foreign waterborne crude oil.
The positive thing about the golden--- selling his units on 7-21-15, I'm sure at the daily high, is that the units have gone up with the announcement of the distribution increase. As previous stated he has no clue how this company operates or what a MLP is.
The fortunes of the old Sunoco south philly refinery have certainly changed for the better. when Sun owned the refinery, they only processed Brent crude, which was high priced, shipped in tankers from over seas. Today a large % of the feedstock comes from North Dakota by rail. Most refiners are currently making profits with the reduced cost of crude. eg. PBF, Tesoro, Valaro, Marathon etc. ETP has had a good deal on this property, they have no expenses but share in the profits, since they gave the refining assets to PES, they also gave up all future liabilities. A review of the amount of tankers coming up the Delaware river with Brent crude, shows a decline in the amount of this feedstock. I do not the particulars but I believe the ETP will continue to receive their share of any profits in PES, and with the current cost of crude, this IPO should be considered.
Wrong again bucko. DCF (distributable cash flow) attributable to ETP decreased to $692 million in 1Q15. This is almost 1.40 per share and they are paying out about 1.00. So they can afford the dividend.
They just raised the dividend 2%. Why are you such a scaremonger?
I have to agree with gg-----forward earnings are projected at less than $2.00/share. There is no way they can continue to payout almost $4 in dividends.
its 12 dollars a barrel cheaper to ship by pipeline verses rail . look at rail stocks they are getting hammered too , but most are blaming that on coal . you can bet oil companies love pipelines over rail.
golden boy You have told repeatedly that ETP would cut the distribution and now they have raised it. Looks like you do not have a clue how this business operates, DIG. After buying at the low, you sold and made a small profit, should have sold today and made a bigger profit, now you wants to listen to Cramer, do us a favor and take your knowledge to another board. DIG