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Energy Transfer Partners, L.P. Message Board

b.barrett59 2 posts  |  Last Activity: Dec 4, 2014 4:20 PM Member since: May 3, 2012
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  • Reply to

    LINE/LNCO Yield

    by ronharv Dec 4, 2014 1:58 PM
    b.barrett59 b.barrett59 Dec 4, 2014 4:20 PM Flag

    I too sold my LNCO after the call. I held my LINE because I owe quite a large income tax bill if I sell it and I do hope to hold it and pass it on (though it's always hard to do more than hope when you are talking about any company over a long period of time.) Still, I sold LNCO because it made no sense that management would be coming off a quarter with 1X+ coverage (even after transaction benefits) and claim the swaps they are making are accretive to cash, and yet, they can't explain why they expect a major cash shortfall in Q4. If it's all transition costs from high- to low-intensity assets, then, they should have said that. If not, it simply doesn't add up.

  • Reply to

    Q3 Earnings

    by keegaikap Oct 30, 2014 5:04 AM
    b.barrett59 b.barrett59 Oct 30, 2014 7:00 AM Flag

    Hard to evaluate exchange rate influences that make everything look muddy. The adjusted EBITDA was $3B. Lower than prior period, but should have been expected and priced in given the reduction in the price of ore. This should be the trough period though, as they increase shipments moving forward and continue to lower costs.

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