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Calumet Specialty Products Partners LP Message Board

  • jaime9_2000 jaime9_2000 Sep 12, 2012 12:18 PM Flag

    Yesteday was just a slight hiccup

    A fairly large player decided to take some profits as the stock hit 30. Not a bad idea, especially if you bought in the teens. The stock has already recovered more than half of the decline. I'm still holding as I see more value on the way. And, the juicy distributions are great compensation for the wait.

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    • I wondered what happened to the old time owners. This increase has gone by without comment. Except for me. Nice to see a familiar long name. The decline was an opportunity for those who were not in. Look at the seeking alpha post. They are touting a $42 price target in a year.

      Sentiment: Strong Buy

      • 2 Replies to mike2915
      • Have owned CLMT for years, infrequently posting here, but occasionally selling a small portion as prices run up and re-purchasing those shares and adding new ones on the dips. The highest 12-month forecast I have seen was a recent one earlier this month made by a firm initiating coverage. This included the effect of the GTL addition at Karns City, new refineries, etc. It was for $48.00. Most of CLMT's acquisition of late have been accretive to earnings (according to company announcements), which means to me that distributions will indeed increase. If the Fed indeed keeps its "promise" to hold interest rates low through 2014 (and perhaps, with this afternoon's announcement, even extend that date), that will not be bad for unit prices for CLMT.

        No one can see the future but, if the economy continues even to coast along as it currently is (1.7% +/- GDP increase), those accretive earnings must find their way into the distribution. The principal danger I see is an inflationary spurt which may diminish the value of units if oil prices (feedstock for CLMT) bump up as a result. Of course, a dramatic improvement in the economy will be a real tonic for unit price, in my opinion.

        Good luck to all.

      • Thanks, Mike. The rally has been exciting. I just wish that I had bought September calls instead of August calls. LOL! I wonder if we're going to start seeing some $.05 quarterly distribution increases?

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