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Ship Finance International Limited Message Board

  • keebon keebon Oct 5, 2013 10:25 AM Flag

    C-corp MLPs & GPs

    FWIW, I favor c-corps in IRAs to avoid complicated and uncertain taxation issues. The Wells October MLP report covered these mostly energy related MLPs and GPs that are C-corps (report distributions or dividends on a 1099). Ratings are outperform or market perform.

    Pipeline - KMR, OP; EEQ, MP
    Upstream - LNCO, MP
    Marine - CPLP, OP; GMLP, OP; NMM (drybulk), MP; TOO, OP; SDLP, OP
    Pipeline GPs - OKE, OP; WMB, OP; KMI, MP; TRGP, OP; XIXT, MP

    I own KMR, LNCO, CPLP, GMLP, NMM, TOO, SDLP, OKE, WMB, KMI and TRGP.... but don't let that scare you off.

    Wells favors the GPs for total return because of the potential for higher price appreciation and dividend increases. They also believe Q4 prices are reasonably attractive and noted that pension, endowment type money is increasingly flowing into MLPs.

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    • MLP's are great investments. I was 100% invested in MLP's since 2008 and its been great ride . I'm only now about 40% invested in them. I don't know why one would hesitate to have them in their IRA account unless they're investing $$$Milliions in each co. TRGP was one my favorites.

    • At the risk of repeating myself, ATLS is the GP of 2 MLPs, APL and ARP, and therefore has the benefit of 2 different businesses. APL is the midstream business and is benefitting from exposure in the Permian. I have mentioned PXD as an exploration company with assets in the Permian in which they say the field there is comparable to the great field in Saudi Arabia. APL is partnered with PXD and will be adding new plants there as PXD's drilling increases. APL is also nearing the 50% IDR level so ATLS will be receiving a greater % of APL's growth. ARP doesn't get much mention since being split off from ATLS a few years ago. The share price hasn't done much, but they've increased the distribution from $1.60 per year to $2.16 over that time.

    • k-bon...outstanding posted information (good for you), these are the type of posted messages that make this a great investment board...that said, grain prices (corn) are crashing and that is good for investments in some other sectors..i.e. AMD, TSN and etc., most grain prices (corn) stay low, a least for the next year, we can profit from it...! $tagg...!

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