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Enterprise Products Partners L.P. Message Board

  • Mktplyr517 Mktplyr517 Jul 12, 2012 2:11 PM Flag

    When they retain another 1/4 Billion in cash this Q

    Perhaps they can justify why they failed once again to increase the rate of distribution growth

    and arb... you even said....."Do you remember the statement from the Board of Directors in February? They said they would revisit an look at the rate of distribution increases AFTER the expansion projects of approximately $2B were put in place diring the first 1/2 of 2012. That would be in June or July."

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    • Thanks, I don't worry about the tax problem, I have it in the IRA. I wish it would drop in price, it would make buying them back a bit easier, right now it would cost me $7700 to buy them back, that's 1000 more than the shares would be worth if I bought the calls back. Not good.

    • Nothing like name calling...

      I actually find it interesting that you are incapable of following the thread.... I never said June or July... I started by pointing out that arb said that and he moved the time frame

      When in the attack mode it is CRITICAL that you comprehend the context

      And I can point out how you too are twisting my comments

      >>>"Your note there has been $4B in retained cash. What if they paid it all out. "<<<<<

      Let me remind you OF MY ACTUAL WORDS

      >>>>"EPD needs to increase the rate.. I'm not saying drastically.. but something that keeps the yield above 5%... "<<<<

      Explain to me how one infers or that I even implied that I am calling for all of the $4+ billion to have been paid out

      I have called for all of a fraction of a % of the $4+ billion to be paid to limited partners

      Your also saying that arb suggested

      >>>"Arbtrdr said the current market suggested that the DCF comparison might be tough this quarter."<<<<<

      Well excuse me for infering that he implied that would mean lower DCF because I cant possibly see how he was implying it would be higher

      You want me to move on... Thats great coming from someone who's comprehension fails to meet the 3rd grade reading level

      When attacking my points.. try to attack the actual point... not your twisted misinterperted inference

      Furthermore is is a shareholders right to question actions such as these... I would love to know where you got the right to tell me to sell and move on (someone attack me because I didn't say "unitholder")

      Better check to see if you in fact have taken your proper meds today

      I'm coming to the conclusion that this board is full of 5 star cheerleading shills... if not investor relation plants..... who are incapable of even seeing the contradictions some posts contain

      God forbid that someone has the audacity to voice an opinion that is contrary to the cheerleading line

    • Mktply -

      You are a bozo. Arbtrdr said the current market suggested that the DCF comparison might be tough this quarter.

      He also reported that EPD stated the board would revisit the distribution policy AFTER the first 1/2 2012 projects were completed. Your idiotic comment that this must be in June or July is nitpicky and crzy as the numbers are not in as we speak so how could they evaluate using numbers they do not have.

      Do you really think that the only thing that matters for EPD is whether the DCF is up compared to last quarter? Is the market so stupid as to not see the deterioration in NGL prices and the delays in SeaWay etc. that were beyond the control of EPD. A flat to slightly down DCF will be lost in the headline news that EPS is down by 50%! All that Zacks and others care about is EPS using the top number.

      Your note there has been $4B in retained cash. What if they paid it all out. They would have another $2B in debt at about 5% or $40M more in interest costs and at an average $40 per unit about 50M more units requiring about $125M in unit payments. That would have made the retained cash for last quarter about $30M!

      Time to move on and for you to call EPD or better yet sell and move on since you think they are mismanaged.

    • So what is the rush to hike the payout? The company is making really good use of the cash they retain. I first bought Teppco (now EPD) in 1991, at a split adjusted price of about $7 per unit. With distributions included it has increased about 1600% since my first purchase. Never sold a unit and never will. Get rich slowly, this is a well managed company and they really do know what they are doing. If you want fast money you are just in the wrong investment vehicle. Collect the checks and stop whining.

    • FYI - Distributable cash flow last quarter was $731M and distributions totaled $522M. Amount retained $209M.

      You also need to remember that no distributions were paid on 26,130,000 units in 2012 that were owned by EPCO per the merger agreement where the GP interest was eliminated. This number decreases over the next several years and goes to zero in 2016. Thus about $14M needs to be planned for in the future and this amount increases as the distribution goes up. This info in the 10Q under cash distributions.

      Patience

      • 1 Reply to jpmjr72
      • FYI - Distributable cash flow last quarter was $731M and distributions totaled $522M. Amount retained $209M.

        You also need to remember that no distributions were paid on 26,130,000 units in 2012 that were owned by EPCO per the merger agreement where the GP interest was eliminated. This number decreases over the next several years and goes to zero in 2016. Thus about $14M needs to be planned for in the future and this amount increases as the distribution goes up. This info in the 10Q under cash distributions.

        ============================

        Seriously... I stand corrected I said 1/4 if a billion when the reality was 21% of a Billion

        Planning for $14M in additional distributions when there is $210 million available doesn't strike me as difficult... (thats all of 6.5% of the retained cash leaving them 93.5% to reinvest)

        Raising the rate to just 1 cent costs all of $2 million a Q... but that horse has been beaten dead

        Over the last 4 1/2 years or so EPD has retained about $4 billion... or more

        I see the difficulty in giving the "limited partners" a meager $2 mil more a Q

        Fact of the matter is with the distribution yield being below 5% this aint going anywhere..

        and my opinion is unit price will go down significantly IF the DCF #s are not in line with where they have been (>$200 million)

        EPD needs to increase the rate.. I'm not saying drastically.. but something that keeps the yield above 5%... because the yield is going to 6% as a result of declining unit value when interest rates rise.

        The only defense of the unit price is a greater distribution. I believe this is evidenced by the inability to rally last Q after a second consecutive monster Q

        There will be a ton of very unhappy unit holders when this trades to the mid $40s when rates go up.. yes I'm in it for the distribution... but those paper losses don't make me happy... & I'd be one ticked off camper if I had a life event that forced me to sell at lower levels... and one of the reasons for the depressed unit price was all the retained cash over such a prolonged period

        The Board needs to defend the value of the Limited partners units

 
EPD
41.10+0.55(+1.36%)Sep 19 4:06 PMEDT

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