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NuStar Energy L.P. Message Board

  • kerfinator kerfinator Jul 3, 2008 11:05 AM Flag

    Liquidation in full force.

    There is no doubt now...

    Anybody who thinks the distribution will be raised is in fantasy land. I don't care what management has to say about this. They cannot be relied upon anymore. Unless you want them to dilute the shares to pay for them, it isn't going to happen. NS's profits are in jeopardy going forward.

    The fundamentals are deteriorating quickly with no end in sight. Massive mistakes have been made by management. The mistakes have been magnified by circumstances out of their control. Declining fuel demand, stock market bear, commodity spike with no cieling...the list goes on and on.

    Everybody is under water now...even with the distributions figured in. Bill will not be buying. And neither is anybody else.

    There will be continued selling until the valuation becomes fair. With no profit this quarter and future quarters in jeopardy, we will need to see a full third knocked off the price. Also, with distribution reductions in the works (believe this), we will see a distribution rate more in line with the new price per share. Let's face it, without an 8.4% yield, we would be in the low 30's based on earnings.

    Prepare for a major the runaway oil market, nothing can stop that now.

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