Shorting MLPs has all sorts of really bad results. BWP certainly has an upsode potential down the road (2015-2017) but how do you compare a pipeline and storgae company with a gatherer and processor? Also one has an economic GP interest and the other does not. Both have significant upside if things go well and downside with bad news. also the yield on BWP is out of synch as it it currently trying to get the balance sheet fixed a bit.
You call TD and through corporate actions they will buy the shares - one share at $8.50 for each warrant. There is usually a fee for doing this in the $25 area. you can also simply sell them in the market. They will trade like stock. If the stock is at say $10 you can probably sell at about $2 since people often like leverage.
David - Both acquisitions were made at NO accretion for 2013. Same stuff different day. With volumes down in much of their gathering area they are continuing to struggle. A bit of a correction to your comment. They did give guidance for a cover at $2.60 and that is more than 2013, but not much. So much for turbocharged!
The release was indeed deceptive. If you take out the 1 time items you can account for the $5M. Again that is not the issue. The issue is promising and not delivering. Guess some people here are tired of my comments about the Cohens. The no distribution increase was the clue. I cannot sell because of a zero basis, but APL now is going to wait until 2015 or beyond. Patience.
Not sure how a suit to require KMI to pay out fewer $$ and pay lots of $$ to lawyers would cause the price to soar! The suit is sort of stupid, but will still cost KMI lots of $$. That does not move share prices up.
If they come through. Got to remember these are the guys that had 2 fialed buyouts before 2005. The only two failures I could find. Then almost BK over a messed up set of hedges that lost them about $400M in real money and a distribution to almost zero. Now a distribution run rate with about .015 a quarter for 2014 with ATLS "turbocharging" the distribution. Will need to do some reading/listen to the call as i worked today but things do not sound good. Things keep slipping back.
How is the market going to like this tomorrow? understand zero dist already factored in but a $2.60 run rate in 4 quarters out was not!
Liza - I agree. Good idea I had not thought of. My carryforward losses total about $200. Will simply add to my passive loss carryforward from 2012 and close out the "dummy" MLP entries for the EPD subsiderary companies.
Bcup - If you had a small position agree the numbers probably miniscule.
Replied once and post disappeared. No way to give a good answer. Right now we have a move to companies like EPD in the MLPs because of safety. Interest rates also a factor but EPD stands alone as able to counter intereest rate issue by raising distribution by more. Remember EPD BOD takes a look in July or August of every year for a special. With capex $$ moving down who knows. Question is are you looking LT or shorter. LT we should get a small pullback sometime this spring but not much. No reason as EPD earnings are good and company running pretty well on all cylinders. Some are looking for higher earnings because of propane, but most of that was contracted out long ago. very littel sold at spot and EPD said they would NOT gouge. Next quarter will have another small increase in DCF.
If question is for 3 weeks. I would be waiting. That is simply a guess and again we have moved sharply higher in last few sessions. Again - sign up for IV board. Many who post there willing to talk via PM. If not for your LT posting here I would not do this on Yahoo. Too many idiots here.
Yes, but best not to do it. TTax only imports those numbers "required" to conplete your return. If you owned EPD in prior years you needed to set up "dummy" accounts to hold anything allocated to you from things like ETP, DEP etc in the past. You now will need to move any passive losses from those accounts to EPD since the subs are all gone OR if the numbers are small simply delete those files and forget the numbers for future tax deductions. The numbers are likely to be VERY small (under $50).
Over the years I have gotten several 100s in credits from oil depletion, w-2 wage credits and other things by entering everything. Of course it is your choice.
ETP, ETE, EEP and others owning large positions in other MLPs will still need to have holders report OTH the main MLP and the subsiderary holding just like we did for EPD for all those years.
Looks like a move to MLPs that appear to be most secure going forward. Obviously institutional movement out of MLPs that were more pipeline or storage based to processors and terminals.
Since it is not paid till the 31st - how would it be in your account on the 17th? Go to Quantum online to see info on all preferred stocks.
Why do you think that? EEP has agreed to drop down some $2B in assets at 10X EBITDA or less. Also provide financing guarantee that gets them investment grade interest costs. MEP just got caught when stor=age went to heck and their POP contracts are only so so. MEP probably good for another dollar or two up. distribution wil hold steady this year but big growth should happen nextr year as GP gets really nothing until quarterly distribution goes up over about .38 if memory serves.
Marv - I would suggest you do not have ac lue about mer or who I invest with or for. I also wonder when you bought your first stock. Mine was in 1956. I do not accept a lower return except for having stability or a prospect of higher earnning in the future. One also does get locked in with MLPsc as my basis a=on many many EPD units is ZERO. Same with MMP, PAA and several others. As tro the rest of your comments - do not understand all. a bit rambling for 10pm on Sunday night for me.
Marv- your refusal to sign up for IV at free is dumb. There is no spam there and you can actuially discuss privately wityh the members. I send several messages a day via PMs. dcannot do that here and do not need to deal with the idiots.
Very simple - your CAGR numbers for 2014 are very optimistic. MWE eventually is going to reach a critical mass and their distribution will rise approx 10%+ for 2 or 3 years. Very simple. The others are all bumping up on reality and the IDRs. KMP a good example. not possible to increase more than about 5-6% becusase of the law of large numbers. I think you need to tell us how SXL is going to bincrease 20-30% next year. Its yield cannot go much lower of yield investors will go away. Do not think nor does anyone else i have heard thin it will grow that much in 2014 or 2015.
Hey sy - and what about your recapture of depreciation! My basisin EPD is zero even with reinvesting my distributions. I'm holding my BWP and also added below $13. People are acting like it is going BK! Crazy. I did not see any growth but thought Loews would support the distribution. BWP is earning about $1.65 a year so in a while they will be OK.