•Adjusted EBITDA: $429.7-$452.7 million
•Distributable Cash Flow: $257.8-$285.2 million
•2014 Distribution Coverage Ratio: 122.8-135.8%, distribution safe
•Adjusted 2014 liquidity: $93.5-$165.9 million, no need for secondary offering unless management desires another major purchase.
My long-term model now looks like this:
2016 Projections: assumes historical 13.1% EBITDA growth rate. Distribution growth rate is half this due to IDR at 50%.
•2016 Adjusted EBITDA (after all cap-ex investments completed): $629.7-$652.7 million.
•2016 DCF: $377.82-$411.2 million.
•2016 Distribution, (assuming distribution coverage ratio of 120-130%): annual distribution/unit of $3.79-$4.48.
that SA author has written 3 articles on SA in the last few weeks and is now pumping on motley fool. Four articles, in less than a month, with no position. And out of the blue, right before a secondary offering, and he's an expert on CLMT....
check out the articles by Richard Pearson on SA, where he outs the professional pumpers getting paid $500-1000 per article to pump retail stocks right before secondaries......very informative
Welcome to the world of wall st...its been going on for years and will it will continue with ease now that people have so many different avenues to use the masses...twitter, stocktwits, seekingalpha, etc. Either way, we're still pawns that should only rely on our own diligence.
SA is a fraud....Guys with limited knowledge promoting their Book.From the Howard Weil presentation combined with their 8-k filing I think a Secondary is a certainty and not a negative in the long term..Hope your long term model is accurate..Seriously Question the 2014 SA projections ..