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EV Energy Partners LP Message Board

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  • marklibera marklibera Dec 11, 2009 9:48 AM Flag

    Another high yield stock

    At the risk of overstating this, to focus on the distributions without focusing on the source of that cash (and its continuation) is inviting trouble.

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    • EVEP is a Citi FocusOne stock. CAPEX adjusted Coverage for dividend is estimated at 1.43x in 2009, 1.08x in 2010 back up to 1.20x in 2011.

      E&P companies which are commodity focused are the most dangerous to own and I wanted a small exposure in my portfolio and have done well with Citi research and decided if I was going to do it I wanted their best recommendation pick which I bought at 15% cost to yield B4 it became a FocusONE pick.

      The change was because EVEP was able to take advantage of the capital markets to solidify their balance sheet and this farmout transaction appears to confirm that they have some very good Marcellus land assets available for the future drilling programs.

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