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Inergy, L.P. Message Board

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  • nsupper1 nsupper1 Jan 26, 2012 11:41 AM Flag

    dividend aanoucement

    Been looking at NRGY- Propane biz has been bad but Wells F recomending as outperform. Do you know what biz they have other than propane-- one service list them as propane and service P Line--- TNX

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    • NRGY has some midstream assets as well as propane. They are the GP for and own 75% of the LP units of NRGM, which owns NRGY's midstream assets in the NE. NRGY also owns some NGL storage assets in California and a natural gas storage facility in Texas.

      NRGY has not been able to cover their distribution for the last couple of years, which means they have had to borrow money to pay the distribution. They do not expect to cover the distribution in 2012 either, which means more borrowing or a distribution cut. Fear of a distribution cut has depressed the stock price to where the yield is in excess of 12.5%.

      Jim

 

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