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AmeriGas Partners LP Message Board

  • erusa62 erusa62 Feb 28, 2012 9:30 AM Flag

    Seeking Alpha Article

    I have been very quiet lately, so I need to ask this one simple question. This is for those who think dividends will be there forever and much smarter then I. AmeriGas will finish the 5th month of their fiscal year on Wed. I can assure you that my numbers are correct. They will be over 100 million short. Their eps was $2.30 and they are now paying a $3.05 dividend. March looks like they will lose another $20 million or so. Their new Heritage deal is also tanking. Please tell me how they can possibly sustain the dividend and pay down their debt. Remember, the 1.6 billion for Heritage is added debt to an already leveraged company. I think the leaders got to greedy and now the problems will begin. Weather has killed them, and you cannot make up for that. The other issue is the cost of Propane. How long will the public put up with their high prices. They have raised their retail prices over $.40 a gallon. The wholesale cost has dropped about $.30. Do they think people will not notice. This will add to their problems, as lost customers are usually lost forever.

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