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Eagle Rock Energy Partners, L.P. Message Board

  • coochy.cooty coochy.cooty Apr 28, 2014 9:41 AM Flag

    Should be an interesting week

    Does it drift up or down? Will it stabilize at some level or remain volatile? Possibly one could look to BWP for a clue, after the initial plunge I parked myself on a nearby branch to see if it would bleed out into the single digits, but it never happened. The wounded animal struggled to its feet and stumbled off along a plateau, the chart is rather striking. Eventually it drifted up a couple bucks to $16, where it sits today.

    Really, and I find this odd to say, in spite of BWP's much stronger coverage (several times over), the prospects of EROC reinstating are better than BWP. It will be under-leveraged and should have a positive DCF base to build on with acquisitions, a fairly normal process. There isn't some great wall to climb. That doesn't mean I see this as a long-term hold, I don't trust management, and remember, this sale will probably produce a ton of taxable income. Closing out the trade before 12-31 is probably wise, otherwise you could stack a tax liability on top of the unit cost.

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