I'm very long LINE, but with a current annual distribution of $2.90 and PRIOR guidance of $3.08 with the Berry assets, I am not expecting to see $35 for the next year. I assume we trade no better than a 10% yield while at $2.90 which gives me a $29 price, and if we get a bump to $3.08 the market might squeeze down to 9% yield for a reward, which gives me a $34.22. How do you get to anything higher? I would be delighted to be missing something.
While I would certainly prefer to see it at $40 than $30, I am not looking to buy more or sell what I have. I find it hard to feel sorry for myself making 10% return ( a bit less on the shares I paid $38.10 for but a lot more on the shares I paid $24 for so it evens out). Sure, the distribution might be cut but it looks relatively secure for a moderately risky investment. GLL