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Inergy, L.P. Message Board

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  • marklibera marklibera Jan 27, 2012 5:38 PM Flag


    APU just bought ETP's propane business so there's no way they are doing another deal and there's no way the FTC or Antitrust would let them do it either. Don't know much of the overlap with SPH. Selling NRGY would essentially be selling NRGM also, so I doubt they would want to do that before they have had a chance to grow NRGM.

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    • Still, consolidation is going to continue. Baird it throwing in the towel and gave a 50% divvy cut and 14 target on the stock. At that level with NRGM in the mix, it is extremely cheap. Could still get some downside, but I don't expect 14. I would be happy to own even more at that level. With a lower payout, there will be less stress on the debt, with some paydown possible. With 119 Million shares outstanding and a cut of $1.40, there would be an additonal $166myn that would give the company 60myn to pay down debt with the extra $100myn not being wasted on returning capital to us while killing the company. APL did this as did other E and P companies and they turned around quite well. Insiders will get new options that exercise at much lower levels and get rich, too.