As the dropdowns come it will be clearer that the new MEP will be better. This reminds me of how NGLS started out and TRGP started a series of dropdowns of assets that when put together in whole are a great asset set that should attract EPD's attention.
It may take a few more quarters before investors understand the story and perhaps bid it higher... closer to a 10% yield. Even then the yield too high because owner sponsorship so supportive. Next big event will be the dropdown to MEP in 2016 on terms management claims will be highly favorable to MEP shareholders. Until then MEP will trade as the lemmings decide to trade it.... with unfounded fears.
And the excess in the MLP sector was creation of these kinds of MLPs.; Sand:???? Guess those of us who stayed in toll roads got hammered but you guys got decimated.
Wish he would step up with JV partner like Phillips.
A friendly deal can only happen if ETE CEO gives credit for a bright future that WMB can have on its own. This is one of the few times in my life where I see WMB independent as a long term win and WMB acquired as a short term win but the long term win would be so much greater than the short term win because I am fully invested in ETE and cannot hold more shares so would have to diversify away versus holding WMB.
$0.59 was June 10 xd. I have no information on dividend declaration on Schwab or S&P. May be they are waiting for outcome of the bidding by SE and ETE.
Putting two mediocre companies together only created one much larger mediocre company.
How much of ACAS's NAV is retention of all income since NOV 2008? All other best and better of breed BDCs have paid out their earnings in accordance with RIC rules. Yes ACAS is no longer a RIC but on a total return basis ACAS has failed to inspire investors back into the stock because reality is investors want RIC income and they have chosen better and best of breed BDCs as a superior alternative to a former BDC whose NAV consists of at least $4 of retained NII. All things being equal had that $4 been paid out the discount to nav would be significantly less and more in line with the sector.
Yeah but who will lend to LINE in the next expansionary cycle after getting burned badly? Fact is these E&P MLPs that fail as miserably as LINE has failed will have to be absorbed; taken out so the bad memories are absorbed by a larger entity that will survive and prosper going forward.