Actually, you have been given a clear warning where EVEP's stock price is heading which will bring EVEP in line with the current distribution yield for E&P MLPs as a group. Ignore the warning at your own risk. The true value of Marcellus land is being shown to you by CHK and all the momentum investors are going to leave this stock as quickly as they can. Once the momentum investors are gone EVEP will settle into a range that provides a yield that is enticing to MLP income investors. In other words, selling in the $60s was exactly the right thing to do because MLPs are not momentum vehicles and everyone got caught up in a few sales by CHK to foreign investors that wanted in but now realize they paid a huge price per acre for nada.
I think investors have finally concluded it can't get any worse, so it's finally time to buy. The only way the company could disappoint more at this point is by revealing they don't have any real drilling rigs, just paper-mache cutouts.....
This is quite funny.. We may actually see a short squeeze despite absolutely no good news. Even as a long-term bull, I was expecting a $37 price after that lame CC. Now it's just marching higher. go figure.
Disappointing earnings, bad news on the sale, and worst conference call I've ever heard. And yet we're only down a buck and change, would have guessed we'd be sub 40 now. The only thing to save EVEP is that all this infrastructure is built up and the production booms. They could be saved in spite of themselves.
Agreed. And once bottom happens, as it may have just now, the buying that takes place is often very surprising. APA just made a quick run from the high $60's to low $80's, MAKO ran from $10 to $11.45 in a few days, etc. Not saying this will happen, but once the risk seems mostly gone, many are willing to take on ownership.