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Atlas Pipeline Partners, L.P. Message Board

  • bosox_pats bosox_pats Apr 25, 2013 5:55 AM Flag

    Record Date May 8th - Interesting.....

    The recently issued 11.845 MM shares will receive a distribution. Since the acquisition of TEAK has not been completed and no cash flow from TEAK has been accrued, these new shares cost APL about $7 MM in incremental distributions. My guess is they took the coverage ratio down to 1.0X to make the $0.59 distribution as a show of confidence in the future.....

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    • Saw that also - Only way around it would have been to announce distributions before the offering with an immediate record date.

    • I would bet you are correct. 2nd Q should be about the same and 3rd Q should get a better bump. Natural gas prices up a lot in 1st Q and I do not remember APL having any hedges. Should have helped a bit.
      I expect guidance to be bullish as the Permian has to have another plant in 2014 but APL still waiting on Sandhills NGL line for takeaway I believe.
      $0.75 Q will not happen this year account those extra shares.May still hit $0.70 by 1st Q 2014 would be my guess.
      Still seems the stock should trade closer to $40 soon.
      jim

 
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