If any of you own any other energy or MLP names, surely you see that EVEP is far and away outperforming on the down side. there most certainly is a shareholder exodus. How many up days have we had in the past 2 weeks? It is a relentless pounding. Endless selling. EVEP is on the blacklist. No one wants to be caught with it in his portfolio.
It has high risk. At 5.4%, if Utica gets delayed or cancelled, there is a huge amount of downside risk. Sure there is upside risk, but the story is old and tired. Rah Rah utica. Other companies are producing. EVEP has been promising. And now with a guilty conscience has gone mute.
What is the investment thesis here? Utica is a game changer? That's your bet. It's binary. If Utica isn't a game changer, look out below. If Utica is a game changer we get to the mid 60's. That still leaves a heck of a lot of our unitholders underwater.
If they had good news, they wouldn't be waiting for a Friday earnings call to release it.