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Breitburn Energy Partners LP Message Board

  • clambo2001 clambo2001 Mar 2, 2012 2:21 PM Flag

    BAC says buy BBEP , target $23 .

    BAC has a buy with a $23 price target . Wow ! A 9% dividend , and a HUGE Utica shale potential too !!!! Clambo is OVERWEIGHT BBEP

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    • Where are you seeing that? I just looked at BAC's most recent report on BBEP (which was the Q4 earnings review) and they had a $21 po, down from $22 when they re-initiated in late 2011. They also project EBITDA declining in 2013/2014. I am trying to figure this one out.

      • 1 Reply to swanny701
      • jackhiller Mar 6, 2012 9:31 PM Flag


        clambo is a notorious pumper of anything he just bought, and to his credit readily acknowledges his pumping behavior.

        His explanation for such behavior is that once he feels a stock is undervalued, he buys, and then shares his research and belief. However, his research is not necessarily accurate, so you always need to check, just as you sensibly did to find that he made another mistake.

        On balance, his trading amd investing ideas posted on yahoo are worth exactly what you pay for them.

    • I bought a number of NG/Oil stocks back at the Mar 09 lows. All have done well so I'm not complaining. BBEP is trailing behind just about any comparable company. Most trading at 2 or more times book with lower distribution %. Any ideas why BBEP is bringing up the rear? Is it because the distribution was stopped for a short time? If BBEP was trading on par with other similar stock it would be in the $50s.

      • 1 Reply to fredlgjr
      • Maybe this will help as to why BBEP hasn’t moved up as much as other MLPs:
        1. Suspension of distribution. (You fool me once….).
        2. Lower distribution when re-instated ($0.375 vs $0.52 quarterly).
        3. Perception that it’s primarily an NG company.
        4. Anticipation of KWK and Baupost dumping large blocks on the market. (They did).
        5. Insider selling (See SEC filings)
        6. Dilution of shares through secondary offering (2 since reinstating distribution).
        This, I believe, is what is apparent to the general public (and Jim Cramer) when they look at the stock. Market analysts of companies that evaluate BBEP, look at it in considerably more detail and generally have a different perspective giving it a target price in the $23-$25 range. Take a look at one of their reports and draw your own conclusion. RBC just did a report on BBEP and they give it an “out perform” and a target price of $25.

    • Conservative target at that!

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