The margins for fractionation are low today - partially as a function of price compression. The Duncan family has been purchasing EPD stock for a long time and in amounts over $100M every year for many years. nothing new here. EPD is fully contracted for exports until new dockage completed so nothing new there. Would expect a ho-hum report that has earnings up a bit and DCF coverage in the 1.5X area. Exciting for most but simply average for EPD
Marv - The EPD report I would think will be another yawner. They will report another quarter of great coverage and increased earnings. EPD has some volume issues of some of its pipes and obviously frac spread problems, but nothing has significantly changed since last quarter. I also see nothing that should be major big time positive. OILT would be the exception for good news but that is another year off because of the purchase price.
There is some 1BCF in new NG usage for pwer plants this year and more in 2016. 5BCF for LNG exports in late 2016 and 1BCF in demand from new industrial plants in 2016/07. Well are not being capped! Silly statement. Some have shut down, but will come back on line with the turn of a valve.
Did you follow the instructions? You need to enter as if there are two K-1s. The second one will only have the $$ from Line #2. You Can only list one type of income - partnership, royalty or rental per entry because of conflicting form entries.
NEXT YEAR - you add any passive losses carried forward (probably none) from APU to ETP and then delete the APU ref ETP K-1 for 2015 tax year.
You are looking for something that does not exist. Do you not notice that anything related to energy is down in price? Even MMP which stated low oil prices will INCREASE profits is down! Until the perception that energy is going to continue changes then midstream MLPs will have low unit prices.
What did you receive? If straight stock then you now own PAA with the capital account basis - not your purchase price - of your PNG transferred to your PAA units. If you received and cash then it might be taxable. Suggest you read your K-1 and contact PAA is you need clarification.
Mike - You do not complete a K-1. The K-1 is any will be mailed to you. Should not need to do anything for a trade within a Roth. Glad you sold as BWP pays no $$ to those that own inside a Roth.
Always - As has been said - Name one lawsuit that is pending? How about any lawsuit with AMPE?
AMPE has sufficient $$ to get through 2015 and MM has said he will partenr or sell part of the company before then if the studies come out as positive.
The BLA documents were supposed to be filed in 2014, but did you forget that the FDA wanted more data covering an expanded number of conditions? The studies were moved back. not unusual in biotech. And yes, AMPE has certainly had its PR and study problems.
Do not know when you bought, but what part of OKS being dependent on good NGL prices did you not understand? NGLs will continue to be worth little until industrial demand goes up in mid 2016 with 7 new industrial plants coming on line and LNG exports pushing up the price for NG. Your generalization makes little sense. Future for OKS is good and you get paid a handsome distribution to wait.
And if ETP is selling at $60 you get stock worth $24.39. All MLPs are down because of pressure due to low commodity pricing. If the merger was called off RGP would drop under $20 as it is more commodity exposed and is not covering its distribution and has little liklihood of doing so in the current environment. The question should be is going with the larger company that IS covering and growing its distribution faster a good thing or not?
Hey guys - Two things - Patience works fine as long as there is not a secular change in the market. If the cost and use of oil will return to "normal" in say a year then patience will work. If there is a fundamental change then patience will watch your investment $$ slowly decline over time.
Biotech - Certainly exciting and lots of money to be moade. AND LOST. This is a high return and high risk area. I own two companies in development and have watched one slowly settle from $3 to $2 and now under $2 despite having several treatments approved and being marketed. My other company has gone from $1 to $10, back to $3 and now back up to $8 with trials looking good but the normal pressure of shorts on a company with no income (can they get $$ coming in before the $4 runs out?) creates for an unstable market. This one will either be worth almost zero next year or north of $30. Certainly not a place to put a bunch of $$ one might need in retirement. A few speculative $$ - fine.
You simply need to follow the directions on the K-1. The individua numbers for each MLP are what is to be entered because you actually own(ed) APU, SXL and SUN via your ETP ownership. More than a couple thousand units and your UBTI from APU would put you into owing taxes from an IRA holding. Wondering what particular number is not given? for UBTI you simply take all of the positive numbers of K-1s or supplimental K-1s foor MLPs owned in an IRA and totsal the positive numbers (disregard negatives). If the line 20V positive numbers total over $1000 you need to file 990T and your IRA owes taxes.
A couple comments - AT has not covered its dividend in years. Basically almost a scam. SDRL and LINE are directly influenced by low energy prices. You post suggests you need to do some reading on MLPs. They are completely different and do not pay any dividend. Again, prices that are low for energy are not good for ETP, but most of its income is from fees for transport. People have sold it off like the E&P companies are going to stop producing. Oil and NG usage is UP! Not down. ETP is also effected by interest rates and a myriad of other things. ETP could go up 10% by next month or go down the same. It all depends on sentiment.
Last, the distribution is not ROC. It is a partnership allocation and those big negative numbers (mostly depreciation) are recaptured on a sale. ETP last year also had significant positive income of both interest and dividends.
The ETP K-1 was available on-line on the afternoon of the 13th! It requires entering data from APU, SXL, and now SUN in addition to ETP. I suspect most will enter data incorrectly and also not understand how to do a close out for those that are sold off. Guess APU having taxable income for 2014 makes it lots easier.
okc - Me thinks you know not what you speak! A positive number on Line 20V (UBTI) would be unusual for most MLPs. Of the midstream area only PAA, MMP have consistently shown positive UBTI numbers. Others have positive numbers once in a while - mainly to do with a large asset sale and the associated gain it seems.
Also, why would you file an amended return if you did not have all of your data? Would it not be easier to file an extension? I own some 30 MLPs and have only had two in recent years that were available late on line. Via the mail - certainly - but yuo can get them up to 2 weeks earlier using your computer.
The next week the following: The natural gas plant liquids composite price increased by 1¢ to $5.93/MMBtu for the week ending March 6. Mont Belvieu NGL spot prices were mixed this week. Natural gasoline decreased by 0.3%, propane rose 1.7%, butane rose by 0.9%, and isobutane increased by 1.5%. Ethane prices dropped 6.7%.
The big issue is ethane which is not worth the cost to fractionate. Also as you can see EIA numbers are adjusted often.