hi Ed, a lot of insider buying.. not sure if it is early yet or not as I feel oil has more pain, no one is really cutting production anywhere...but this one is a probable survivor. it is on my watch list along w a few others. still smarting from argent pain! hang in there. Bea
sorry to post here, the board for NTG is NA at this time..
, the Tortoise fund that invests in NG MLP's, has landed on my radar,, however one item in their Factsheet has me concerned.. there is tax liability in NAV today of 26.61 of 6.02.. would that be due if fund merged/liquidated? unlikely I know, but concerning.. any comments would be appreciated. Bea. (Factsheet info follows..)
Fund at a glance
at 3/31/2015 unless noted (unaudited)
Total assets (including leverage) $2,061.8 million
Market price $24.06
52 week range $23.51 - $29.94
Deferred tax liability included in NAV $6.02
I guess I like the "progress without dilution" if it indeed can be carried out as per the presentation. I have to laugh, these AU/AG companies all share names like the oil patch folks when you read the board/directors/insider bio's. I see they hired some more folks for Lincoln Hill project as well. An interesting name. Bea
the metrics to analyze o/ng/ngl change daily, sometimes in a moment, including technology, logistics, infrastructure to the fields, geopolitics, day trading, speculation etc. These articles can be useful for background etc but usually they have an agenda imo.. nothing wrong with oil/ng/ngl in the ground in a safe country in a perpetual trust, still believe there are better price to come on these, holding a small position in NDRO w others on my radar including PBT, ROYT, VOC, CRT. trusts will move fast if/when things turn.
I hope they wait for the right opportunities.
will be tough sledding for rest of year, posted some thots on Canadian stock hse boards.. sad mess. I will hold as a spec warrant on o/ng prices, net of debt it could still fetch $1-2 price total, some small asset sales coming to reduce debt, may keep bankers happy w hedges we have, till Dec at least. they squandered too much on Eagle Ford imo, despite great potential in WY w Devon and KS/OK/other TX properties for infills, workovers, etc, wanted to play w big boys, lost. so many others did as well though.. big messes out there, TBTEF, PEYTF, LSTMF (which I sold at $1.40 on last run up after their div cut) Surge, Long Run,, when the biggies fall where everyone is hiding out like CVX, EOG, Cimarex, XOM, BNE.TO, VET, RDS etc it will be time to sniff around. at this point I am only long ANGYF and small amt of NDRO and mostly closed end funds and pfd's which have done well for me, and cash, STIP small amt. looking at ASA now. take care. Bea the Baggage holder here..
apparently they are hedging the EU and Poland, not other currencies. currency wars as countries export deflation massively. this will probably not end well.. think of all the countries w US$ denom debt now having to pay 20-40% more in interest etc.. even a lot of CN companies are hurting w Loonie down 20% .. looking at ASA for some small added gold shares exposure now. they have been around forever and focus on better gold miners, CEF at a discount. thank you for JGH, I like Nuveen, a good operator, will look into it to diversify intl bond exposure a little.. glta. Bea
sorry, what I was saying is his influence in PIMCO is no more and time to move thinking he is remotely involved or can sway shares .. there are 137m shares outstanding of this fund alone, w over 500k avg daily volume, market could easily absorb 1-2m shares, if he sold all at once, it would probably be to an institutional investor..no one will have enuf shares to change the bylaws. biggest holders are institutions. better to focus on the opportunity the share price seems to represent now in many CEF's w market in interest rate/FED/ currency-forex/ EU/JP/CA QE flux. good article in Barrons by Guggenheim guy this week about op's in floating/high yield etc. personally I added some PFN and BWG this week .Bea
gross is no longer a factor here, enjoy the fact that his exit has given us a great entry point in many of the Pimco funds and good managers who have been doing the heavy lifting in most of the CEF's for years. I wonder if gross had to pay the huge loads when he put his 700mil or so in Janus like everyone else has to pay to get in,,looked into the unconstrained bond fund he is pushing has a 4.5% front end load,,no thanks.
well I am hoping there is clear law precedent over these reserve capacity reservation fees that one NG producer is trying to hold us hostage for.. should be a simple matter of the contract language and case law history --but the lawyers will have at it. Enduro itself (not the trust) is part of Riverstone Partners which is a very well heeled bunch not to be messed with,,it may be resolved quicker. It is always something with these trusts, even the perpetual ones like CRT, w nonsense now being required to reserve some funds for admin expenses and XTO/XOM saying expenses to produce outweigh royalty interests on some wells. .. in the long run these are blips and now probably mostly a function of low prices,,producers looking at all angles to stay afloat. oh well, a few cents here, a few cents there this year. will be interesting to see what the OXY Lost Tank wells coming online produce, plus one more PXD Rocker well will be producing in 2015.. all noise with the prices so low. Seeking alpo shorts also on the bandwagon keeping price down from a recent hater article 3/12.. capex will be low this year, when prices recover, there will be many proposals to grow production well into the future at lower costs with better technology and infrastructure in place. looking interesting to add a little for long term. Bea
I did not own in 2014, but the presentation says tax efficient, owners receive a 1099, simple tax structure, no depletion can be claimed etc? for ROYT..NDRO seems different.. I guess I broke my own rule I do not like to make any tax recommendations as it is so complicated. always best to consult an advisor ( and get 10 different answers usually!) I know my total income is way below 1,000.. the way things are going on both NDRO, ROYT, it seems like a big capital loss to me! when o/ng/ngl recover, these things should shoot up pretty quickly imo. glta. Bea
take a look at the Fund Holdings spreadsheet on Pimco's site, I guess it is more avg risk/yield than high yield overall, a very nice mix of many debt instruments and industries, credit ratings imo. seems ok. Here is a breakdown i cut and pasted, you can't post url's in yoohoo posts..
Government Related 13.29 Morgage 27.67 Non-Agency Mortgage 21.95 Agency MBS 5.72 9
High Yield Credit 9.78 Non-U.S. Developed 9.16 Emerging Markets2 12.28 Invest. Grade Credit 11.17 Municipal 5.22 Other 2.06 Net Other Short Duration Instruments 9.38
I feel pretty the mgrs. that took over from Gross have a handle on it as part of a diversified income portfolio for me that includes PFN, BWG recent adds. glta Bea
been waiting since the Barron's recommend article for it to drop back under 10, high yield under pressure again w fed talk and energy bankruptcies in the news, not much exposure to energy and like that it is only 20% levered and earning it's .08/mo. some brazil exposure but not much at about 8%.
NAV over $18,, wondering how they will deploy the $50mil they raised in the Feb pfd offering,, there should be a lot of opportunities with world financial markets adjusting to big news daily ( int rate changes, currency devaluations, EU QE, Brazil stuff etc.) this should help income side of dist go up, hopefully they can keep up their cap gain record.. . I added a little today. They seem to do a good job hedging. will be an interesting year in this fund.. seems like energy bankruptcies are picking up. PBR seems like a real mess in Brazil, we have 14percent exposure to Brazil so it is probably hurting NAV/ w NAV down $2 so far in 2015.
there is a tax booklet on the trust website on the right hand side for 2014 with instructions (complicated!) on how to file for taxable accounts. If you hold in IRA/Roth IRA/401k no tax filing needed or taxes due.
they are all rushing to market while Mr. Market still has an energy appetite for debt/equity and before he shuts the door on them all. it is a bearish signal that indicates to me they feel the pain in the o/ng/ngl/service/transportation patch will be longer than most anticipate -so raise money now before it is too late-- and there will probably be better entry points in most of these names. Bea
its on the website now. I own a small amount in my roth ira , so no tax issues annually. I do own other energy in my taxable acct and every year seems like they get later and later and hold up my tax filing. omg. Bea
looks like a day trader pumper dumper type. doesn't seem to be anyone invests for the long term anymore. just looks like a bunch of charts he feels were interesting for trading..the share price seems to be hanging in here in the $5 range. will be a tough year although capex will be lower and costs should be coming down, servicers are getting a lot of pressure to cut costs.