I found the news on Hess just after I posted, thanx anyway.
Here's a ? for you.
I'm trying to determine which mlp's are best suited for my portfolio.
I assumed that "earnings' was the factor to weigh in on but "Cash Flow" is the key element.
However, when I did a search on cash flow, most all mlp's were in the minus columns. How can they make a profit with negative cash flow or pay out the distributions?
Announced a large acquisition from Hess at a cost of $850M and will offer more units to finance the purchase. Dilution is the net result short term. Long term should benefit from increased sales but this might take some time to show up. Patience is always needed with this stock and has always paid off in the past.
ThanBuckeye Partners LP (BPL) announced that it has inked a definitive agreement with Hess Corp. to purchase 20 liquid petroleum product terminals for $850 million. The terminals have a total storage capacity of roughly 39 million barrels. The transaction is anticipated to be completed by 2013 end and is subject to regulatory approval as well as customary closing conditions. The acquisition involves multi-year storage and throughput requirement by Hess.
x for the info, found this article:
totally agree. always dips a bit when they issue new shares but it always goes up down the road. will hold this one forever. hopefully pass it on to the kid one day. I like making making by doing nothing but holding. glta