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Atlas Pipeline Partners LP Message Board

  • davidbdc2001 davidbdc2001 May 1, 2013 5:55 PM Flag

    conference call transcript available

    Its available at seeking alpha. Call seemed pretty positive. A lot more moving pieces going forwards. Execution will be key. Looks like ethane rejection may continue through end of the year at some systems. They did sound a cautionary note about CHK and SD (I've been pointing out SD could be a problem at some point in time) plans for drilling. Otherwise, just need to keep executing.

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    • You have been right about SD. I thought it did not matter much. Back end loaded distribution ramp as APL will let coverage ratio climb. Anyone know what the new buy rating price target is?

      • 1 Reply to jrp1324
      • BAC/ML has "Buy", a price target of $42, and a 2015 distribution estimate of $3.04/unit. Another impressive move by APL IMO was cutting the 15 year NGL marketing deal with the DCP Enterprise giving APL access to Mont Belvieu pricing instead of Conway and access to the new DCP Enterprise NGL pipelines. With EPD and Targa combining for more than 100million barrels/year propane export capacity on the Houston(TX) ship channel near Mt Belvieu APL's producer customers can now market their propane globally. If you assume an APL distribution rate of 6% in 2015 our APL units could be around $50 in just 2 years.....

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