Excellent question. Can company justify equity raise AND maintaining distribution percentage? The raise followed by a distribution cut will not go well for anyone who failed to bail from this loser.
a larger, weaker even more mediocre MLP. Evidently the former EPD division CEO who runs CMLP is akin to the CEO of Noodles who used to work for Chipotles.... just because they were near the king at Enterprise and Chipotle does not mean they are ready for primetime running their own show.
Anyone owning Mreits here and now is setting themselves up for a redo of the May 2013 smash. Earn 12% dividends and lose 20% capital... now that is a recipe for disaster.
Gee, I dumped FCX the day they did the Plains deal.... how can anyone ever believe copper/gold fits with oil and gas? I see FCX in single digits and I see the only third party financing coming in the form of a toxic preferred. I sold my shares but I should have gone the other way and gone short. The deal was crazy when oil and gas prices were much higher anyway. Think about it.... gold and copper and oil and gas...... why?
Scott Black has gravitas and is well recognized as a value investor. I saw the article FRI night but you can bet all this stuff gets distilled by those who know how to game the system to their advantage.
Scott Black, a value investor picked ARCC as one of his picks in Barron's RoundTable to be out SAT.
This is one sick puppy that has bad assets and financing costs that are too high to justify their capex
BX is the real winner as they will most likely generate huge returns from the drilling program LINE agreed to as part of today's action. LINE sold their future soul to BX. So buy BX and the other money managers that will profit from this sector's destruction.