Do you think that conservative BTEis going to buyout SOIGF after paying about $1.5B to buy Aurora? Not likely.
Wow - Scary advice. A revocable trust is not a legal entity. It makes no tax changes and everything is the same. The reporting is done by the person with the preorti ng ss#,.
Yup. Think lately we have more pipes that are failing to get committments than are being built. Neither WPZ/BWP or KMP/MWE going forward now with line out of Marcellus. Definately wonder how long till more rules with the RRs get put into place with the accidents that have happened. At home the SP main line goes through the center of downtown - 400K people within a couple miles. Accident rate per car mile is down, but loadings up some 9X.
There were two new CEFs buying today. About $1.5B in new money into the MLP arena. Thus big volume and almost everyone up significantly.
Money - Who made the units that were previously being purchased? Any idea? Kmow CAT got into this area some time ago and obviously gave incentives. Would think in reality if relaibility is similar and cost the same little difference to MWE who is the supplier. Do know from mining equipment that is about 90% CAT locally they do provide good service here in AZ.
Liza - Here we disagree a bit. When EPB went down to the $26 area it was supported by the yield that is secure IMO and it has significant grwoth projects coming in in 2-3 years. I agree getting [paid 8% to wait is not bad for part of ones portfolio.
Wooglin - Wondering how much state income you found to pay taxes on? I've only had enough one time. As to TTax handling Canada as part of a partnership what version did you buy? The cheaper versions do not do that easily. Easier (not eay) with the others.
The key is what happens in the long term. Up 4 days in a row and nothing to do with EPD, but Yellen. LT the same challenges remain as well as opportunities.
A preferred stock for a MLP is not eligible for any return of capital designation. It is Interest! No tax deferral. They would trade at a yield unless it was convertable. KMI will take EPB ubits for part of the dropdowns and debt will get issued for about 60 0f the cost. If the dropdowns are at an 8X EBITDA they would be neutral at the current unit and debt costs for the first year. Accretive slightly in years 2 and into the future.
jim beam - Certainly hope you are drunk. If you really were short 6M units you would want to be and stay drunk. Could not possibly borrow that many and the distributions you would owe would kill you.
A really funny comment that was absolutely stupid.
Significant move to high yielding investments. REITs, BDCs, MLPs, preferred stocks - everything for 4 days now. All because of Yellen and her speech. The only problem is at the lsightest hint of interest rates moving up then down we go.
There is still a correlation between MLPs and interest rates. This rise has little to do specifically with MMP. As to a split - as other have said - Who cares? - I certainly do not. My original 400 units would be worth about $300 each. no difference in what they are worth. No value created in a split unless you need more shares/units for liquidity. MMP already has plenty of that.
Go to the National Association of Publically Traded Partnerships and read their primer called MLPs 101. It is really really scary that you have no idea what you bought. Would guess your CPA will charge $50-$75 per K-1 to file. Doing a simple buy and sell wil get you auded.
PS - EEP does not pay a dividend.
gary - I'm buying and never short anything. What I stated was fact. Interest rates are a cost to any company with debts and Kinder has little cushion compared to EPD. The Barrons report was a piece of #$%$. Suggesting I was into that is insulting. Certainly a buying opportunity with the dip, but rocketing up? Hardly likely as there is no significant news ikely before the distribution payout in only 6 weeks. The yield on Kinder is all flavors is in the middle of the MPs and DCF growth is now predicted to be in the 5% area. That means cabout 1/2 or a bit more of the MLPs will grow faster.
Faster growth %wise? listen to Kinder say they will be growing slower %wise. Kinder in all flaovrs is too big and EPB has no growth for 2 years at least. This is according to the company. You can give me a thumbs down, but just repeating what was said - and not the BS that came from Barrons via Hedgeye.
The negative stories all started from the same hedgefund. They had a huge short position in LINE. Who knows how they came out as the allegations were shown to be not correct.
Maggie - you need to read the MLP primer 101 at the National Association of Publically traded Partnerships. I have no idea how your K-1 could show income of over $160MILLION! That is more than EEP earned. The loss on line #1 of your K-1 is mostly generated by depreciation.
On your K-1 it is simple. You paid in X number of dollars (your capital account). That capital account is reduced by any negative numbers allocated to you. Remember you are a PARTNER, not a shareholder. EEP also paid you distributions (they pay NO dividends - big difference) and that is also reduced from your capital account. Any losses from line 1-10 on your K-1 are suspended until you sell. If you paid $40 you would pay taxes at capital gains rate on anything over the $40 you paid and at ordinary income rates on the difference between your capital account with any suspended losses added back in and the $40 you paid.
You obviously get a K-1 each year. You pay your taxes off that K-1 information. It truly looks like you maybe should not have invested in a partnership without doing a bit more research. On your sale basically figure you will pay taxes at ordinary income rates on any distributions you received and capital gain for any gain over purchase price.
FYI - If you deciede to sell do NOT sell part of your units. That makes the tax calculation one for an accountant.
Is there a list of Marcellus/Utica producers by volume for oil / NG?
March div finally in my account today midday. April payout will be on the pay date or next day because there is no longer a discount DRIP if you live in the USA.