What...they make a $4.0+ billion dollar deal and now they are back at $35/unit?
They now have pulled up and left the Texas Granite Wash and coverage fell considerably below 1.0x They better hurry up and get that Berry deal closed because their hedge prices continue to decline going forward, meaning more shortfall to make up.
That being said, if it gets much cheaper, I'll be a buyer a heavy buyer. The Linn premium is finally starting to evaporate now that they are so bloated. By my count, there are now a handful of E&P MLPs that trade with a lower yield (premium).
The CEO said on Mad Money that the current dividend will be held , even before the Berry acquisition. After the acquisition, the dividend will then increase 6% and will become monthly.
Those that had dumped their shares had already done so last week. You have anything better to create a torrent of selling to push this below $34? It's over. You either bought last week or you'll be chasing the prices higher next week. The millions of shares had already changed hands from those that believe the news from those who don't.