Yeah, just finished listening to the conference call. Didn't hear anything to justify the big fall in unit pricing. The two main issues were ethane rejection and the decline in NGL optimization margins. Based on the last conference call, these were all things they expected to take place. I think the only surprise was the optimization margins dropping to .01 per gallon. I'm guessing folks didn't expect it to fall that low...even still, the company has based it's numbers on that margin averaging .05 on an annual basis. In April it was averaging .09... With new projects coming online, volumes and DCF should increase going forward. Am I missing the big disconnect. If someone out there knows more than me, please enlighten me before I add to my position.
I had my eye on OKS for a long time. This was no surprise to me as OKS has trailed many MLP's and was below its 200 DMA for some time. That is a danger sign when the good MLP's are trading at all time highs.
P&F charts calling for 45.
It looks like the elevator is going down a few more floors before it stops.