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Linn Energy, LLC (LINE) Message Board

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  • rlp2451 rlp2451 Jan 24, 2013 7:48 PM Flag

    Is CVRR LP better than LINE LP???

    All I know is Jack sold NTI and ALDW and bought CVRR.

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    • I did the same got out of NTI and into CVRR (actually on Jack's suggestion over at pbkef board) and so far I am glad, CVRR totally looks poised to outperform LINE

      CVRR crack spread way lower than NTI's (NTI a pure play on bakken/WTI spread, althoguh CVRR does source a little bakken) and CVRR's 2 refineries near Cushing, with its associated storage/pipeline etc infrastructure, and with insiders buying the IPO, and estimated yield of 19% (at least when price was 25) isl attracting a lot of attention, especially since CVI is posting their special dividend on the back of cash flow pumping out of CVRR

      NTI on other hand has less visibility on yield- looks like options market is implying yield way les than CVRR's (although last NTI dist was way higher yield % and conditions remain nearly as excellent so there is a disconnect (arbitrage?) play there perhaps) but CVRR yield has more "visibility"

      very few stocks yield more than 12% today (all the high yeild MLP's that sold off, like QRE NRP MMLP and BDC's lie PSEC have all rallied. Even many big name mREIT's not yielding over 12%)

      is CVRR levered to crack spread more than mREITs' are levered to interest rate spreads? I'd guess not

      meanwhile LINE plods safely along with its hedges, still yielding double EPD, but less than half of wild (variable pay) CVRR

 
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