Am asking you the same question as I asked Arb with a twist. Have you ever received a notice from city level government, particularly Philadelphia, on any of these mlp's? This is only possiblity I can think of regarding Philadelphia, since I have no personal interests there. Remember seeing discussion about state tax requirements. K-1's report income amounts for each limited partner in states where MLP's operate. Thrust of posts I read was that most income amounts are way under levels where it would make any sense to file a return or for the state to pursue same.
Re to gambler
"I was looking to sell at $50....this thing keeps going up!"
5 calendar years 2001-2005
Last calendar year
and it's still 6.8% yield at yesterday's close.
It just ain't broke, maybe no need to fix it.
Winners keep winning.
But what do I know. Let the data do the talking.
"Having said that hasn't KMP had periods where it went longer than three quarters without increasing the distribution? Why'd you keep it?"
My data goes back to 10-99 and they only missed three times for one Q each.
If they miss for a good reason I am more comfortable with it. Of course KMP only missed twice this time, and I relate much of that to the building phase of the Rockies Express stretching their cash flow.
Also, if I sell KMP, I will pay taxes and have to find a better position to buy. I figure it isn't broke, it does not need fixing yet.
If my figures are correct, KMP is +5.9% for the year through yesterday. Looks like a keeper to me. Of course APL is +6.9% for the year so all are looking good.
Never sure my figures are correct but close enough for this.
Thanks, Chart. It appears you have some nice profits in your field of six stocks. I guess I keep looking for sensible and inviolable rules to establish. William O'Neill of IBD fame is a big advocate of "trading rules." Jim Cramer is the same. I continue to see when to take a profit or a loss as more of an art than a science. I like your guideline of selling MLPs if they haven't increased distributions for three quarters. Having said that hasn't KMP had periods where it went longer than three quarters without increasing the distribution? Why'd you keep it?
"When do you expect to take a profit on APL or are you just going to let it ride?"
APL , 193% , 26.5% , 6.48%
EPD , 127% , 28.2% , 0.87%
ETP , 362% , 65.5% , -1.98%
KMP , 137% , 6.9% , 3.55%
MMP , 183% , 26.9% , 4.85%
PAA , 189% , 36.7% , 6.48%
Here are my 6, and:
First # column is 2001-2005 total performance.
Next # column is 2006 total performance.
Last column is this year so far.
I do not see anything I want to sell, and to buy back. Many people say to sell any one and buy something hotter, then pay the taxes. I fighre it ain't broke, no reason to fix it. But, I will keep on keeping score just in case. If any one gives 3Q in a row without increasing dist. I am out.
Just my thoughts, and of course I respect other's playing their hand differently.
Chart, my cost per share basis is about the same as yours on APL. The stock is one of a number I use to produce income as I head toward retirement. The nice dilemma I have on the stock is it pays 8.5% on my cost basis 4X a year and it's up 25%. If I take the gain I lose the income and then struggle with where I put the capital to generate equivalent yields. I can't remember whether it was Vector Vest or MSN Money Central or another stock analysis tool that had APL fully valued at $64/share. When I saw that it gave me further pause about selling the stock. When do you expect to take a profit on APL or are you just going to let it ride? TIA for your response.
"Chart, unless I'm mistaken, APL raised the distribution a penny this quarter over last quarter".
Correct, but I had not updated my trendline chart yet.
I think Ex date is 2-5-07 so the unit price has not shown the dist yet. My trendline shows a 4.0% growth line for now.
So 6.5% yield would provide a competitive price of 52.92 after that Ex date.
Of course the market does not care what I think.
My buy is at $40.41 so my yield is 8.5% at my buy price.
Thanks for the update.
Chart, unless I'm mistaken, APL raised the distribution a penny this quarter over last quarter. That's not a bundle, but I, too, was watching them closely, as they did not raise, quarter over quarter, last time.
see company making a buy back offer for 10% of shares...they must be making money or have an idea about something.the trading volume is low so a dutch auction doesn't put too much pressure upward on the stock price..hence they buy cheap?..based on what they see coming down the road?..any other thoughts?
"How high can it go? at $55"
APL has a yield up with the NO GROWTH EEP APU group. It could increase in unit price until the yield is down to maybe 6.5%. APL having not increased this time puts it in a modest growth group. So, $3.40 distribution and 6.5% yield makes it about right at $52.30 to be in line with KMP (6.55%) and maybe EPD at 6.36%.
I think data shows investors watch the yiled # way too much. IMHO.
It about GROWTH. And APL seems to be a bit slow lately.