Whether Line or any MLP is losing or making money is not what you should care about. What matters is the distributable cash flow coverage ratio ( distributble cash flow/distribution). I suggest you read up on DCF and cash flow in older posts on this board. Line has a DCF ratio of 1.1, but is 100% hedged so the distribution is completely secure through 2011 when the hedges expire. Line will ( if they have not already) add hedges for 2012.
Well, the market is down along with oil and natural gas prices. All of the MLPs have been hit and the CanRoys are being hit even harder (PWE, PVX, PGH, etc.). I am in the red today on all my holdings except for CCW and CIM(which has been incredibly range bound recently).