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Plains All American Pipeline, L.P. Message Board

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  • no1matemary no1matemary Nov 8, 2011 4:53 PM Flag

    Going down- just look at ETP

    I have bids in at $64.00 and dollar increments down to $59.00. Everyone in the field is getting ready therefore these offerings. We should see some consolidation too. The deal with SWN and BWP has me looking at more BWP too and I have a bid at $25.00 for that. Even though I have held since IPO and added more I feel like it's the last time to really add to LP sector before we are go higher in 12. Any thoughts??

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    • Again, growth takes capital.

      All of the MLPs should be going to the market. Yields are low, the market is "relatively" stable right now and any company that has expansion projects in 2012 and 2013 should be lining up to tap the equity markets for at least 50% of the total expansion cost. You have to strike while the iron is hot.

      Companies like PAA with a strong coverage ratio can afford to raise equity a little sooner than necessary, even if it won't be fully deployed for 3-6 months.

      Personally as a longterm unit holder, I am happy to see unit offerings because it means the company has secured the capital it needs to expand.

 
PAA
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