I am a new investor to EROC. I Invested in EROC right after their, in my opinion positive CC. Obviously was not a good move at that time. Their fundamentals have not changed in a week, why the massive sell off? Thanks for any real info and not childish remarks that ruin these type of threads.
I have been in this one for several years. I am thinking that folks are thinking it is time for a secondary offering to pay for the new plant and are selling prior to that news. the stock is now down low enough that eroc might postpone a secondary - imo. I thought the CC was positive and it was the first profitable quarter in a while.
I bought some more yesterday which now does not look to be so smart but perhaps the true problem is that there are not many buyers of older MLP units in the market right now as all the money is chasing these IPO s which seem to be pretty hot. Eventually people will look at eroc 's 12% yield and that will be irresistible and get us back up to mid 7s
I talked to IR today and they are just as confused at this selloff and think also that it is not warranted. They felt that they informed investors in the CC with a positive outlook. I asked if they agreed with S&P's report on the company and they said they were in the same opinions. I wish I had asked about the dividend, but then again they really can't promise anything on that until near quarter end.
Agree it has largely to do with dividend.....I don't feel the depth of this selloff is warranted, even if dividend is cut, as I believe severity of dividend cut-if it happens-would still leave 8% yield, and future looks positive, with activities EROC has going on.