Having seen QRE start to threaten $18 (not that it's any kind of reasonable price for this MLP), only to slide back to the low $16's, I'm almost afraid to watch when it hits the $17's. The only possible saving grace this time is we won't have one of those automatic quarterly adjustments that seem to compound the problem. Can it hold this time? Is it possible this will ever break $20 without being restructured? Like I said, it's difficult to watch if you own this. I've got some long dated calls that haven't seen green for quite awhile, so I've got my shoulder into the rock . . . metaphorically speaking.
Ruby & Liz: Since it's the end of the year, I'd like to thank you two(and others) for sharing your knowledge with us. You've been extremely helpful over the years and are always willing to share your conversations with management and also your expertise. HNY Anton
Gee, that's great Ruby! Now why don't you post something useful instead of this pretentious drivel? While your Greek analogy is kind of cute (one of my personal favorites), maybe you should take your own advice that you so eloquently gave us on Christmas Eve and find something more useful to do with your time. Maybe start a journal or a personal blog, since you seem to have the bloated perception that the rest of the world needs to read about your thoughts. "A wise man speaks because he has something to say, a foolish man speaks because he has to say something." So please, spare us the fluff piece.
the gap on daily chart between 17.6-17.9 looks like it wants to get filled. But the preferreds coming n a year will drop distribution coverage to under 1 in the absence of new deals, not to mention management didn't sound too encouraging (to me anyways) about restructuring the GP incventive structre, even though it seems like it would be easy enuf for them to agree to eliminate the convertibilty of B units- which would truly align the interests of management and unit holders
a price surge would offer them an opportunity to do a secondary to buy something accretive, however, so a nice rise could snowball into a really nice rise if they can raise distribution. But I'm not holding my breath and hope you don't hurt your shoulder :)
Management recently said that they can hold 1.0 with the increased preferred rate (I had it figured at .95). Still, a long way from their 1.2 target. Can they do accretive acquisitions at $18? VNR seems to be having a tough time finding anything to buy at all.