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EV Energy Partners LP Message Board

  • artist_formerly_known_as_pooch artist_formerly_known_as_pooch Nov 12, 2013 8:55 AM Flag

    The secondary makes a lot more sense now

    The Utica fiasco is the gift that keeps giving.

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    • artist--Can you speculate about why there would be insider buying going into disappointing earnings? And about where the bottom might be for this awful stock?

      • 2 Replies to punbr
      • artist_formerly_known_as_pooch artist_formerly_known_as_pooch Nov 13, 2013 6:14 AM Flag

        I missed the insider buying question-- the buying coincided with the secondary offering. Possibly to retain Walker's ownership% stake. Possibly because he doesn't want to buy on the open market with all of these asset sales or no sales pending. Regardless--he's a rich guy investing for the long term. EVEP will pay a lot of income out over the next 10 years--which is his investment horizon. The guy has a lot of other income sources to pay his landlord every month. His previous buys were in the 40's and 50's. Whether this buy is at the low or $5 from the low probably doesn't enter into his decisionmaking.

        Clarification as to my feelings for EVEP-- I think EVEP is NEARLY completely safe from going out of business or cutting the distribution. My pessimism is that it might be as much as half a decade before EVEP reaches the level I last bought EVEP units at. Optimistically speaking ;-) You want something to pay you 8% and you won't need to touch principal for 10 years. Nothing wrong with EVEP as an investment. But the Utica circus brought in a lot of other kinds of expectations and dreams and they were encouraged and nurtured by management

      • artist_formerly_known_as_pooch artist_formerly_known_as_pooch Nov 12, 2013 5:03 PM Flag

        I'm not short. Nor am I buying any more units. The units I own, I'm married to as their basis would make for a very expensive sale. My options will all finally disappear worthless (as if 5 cents is value) in 2 months. Can I speculate on a bottom? The next month is seasonally weak for MLP's. Right now oil and energy are getting quite soft. I can easily see a couple more bucks downside. I doubt we'll go through 30 without an MLP meltdown--always a possibility this time of year. Just a guess--and with EVEP I'm always wrong-- I'd say +or- $32.

        Being so pessimistic, why wouldn't I short? because it's too risky when you have a company selling assets. They can come into a pot of cash overnight. I'm pessimistic, but not suicidal.

    • be careful with your short pooch....

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