I suspect management had to wait until the every last minute on 3/31 to make sure they had the DCF to make the announcement. This doesn't bode well for the upcoming earnings report. When you're running right on the line (i.e., @ 1.01x) any mishap (harsh weather in drilling areas) can make you fall short.
Expecting and waiting for bad news to drive this puppy to the cuda at $25.
Look no further than the natural gas storage data, Barracuda. As long as the storage data is under the 5 year average.....everything will be fine. Oh, and by the way....all we need is one hiccup in Syria, Egypt, Iran, Iraq, Libya, Russia, Ukraine, North Korea, ........to send oil soaring. Hedges or no hedges....we profit eventually from higher gas and oil.
No ignorance; perhaps to young to remember a muscle car by that name.
cuda = barracuda; i.e., me!
If they were running at 1.1 to 1.2x they would have made DCF required to pay 0.2419/sh sometime between the 25th and 28th. Had this been the case, and faced with the market's recent assignment of higher risk to LNCO/LINE, they would have made the announcement ASAP to assuage FUD (fear, uncertainty and doubts). The fact that they waited until 4/1 tells me they're running at less than or equal to 1.0x.
I make a lot of money reading signs that should be obvious to all, but which inexplicably are missed by many if not most.