I think in part is part of a plan toward long term simplification of the ETE structure. After the KMI announcement the thought was ETE would be next because reducing their borrowing rates would be so compelling that they would have to match KMI move for move going forward.
Insiders have been buying down on PWE from the high teens. Just because they are insiders doesn't mean (in this case) they have a single clue.
What is the matter with you people? NO ONE can buy COCO assets without first putting the assets into BK.
Banks who bailed out businesses during the crisis only to find out later the government was wiling to go after the ultimate buyer of the bank for fines, penalties, etc. learned a hard lesson and COCO has so many levels of potential litigation BK will be needed to get an absolute handle on exposure to various litigations pending and unknown....
You are all on a fool's errand if you think shareholders will see anything from a sale and Wall Street is correctly pricing COCO reflecting those facts.
MLPs require investors to be more sophisticated but as of late many newbies are lost and have been to quick on the sell trigger when the markets went down. For me, the general partners cratering in this last down market phase made for incredible opportunities to add to my positions. I have had MMP since the day they announced buying their GP and two analyst firms downgraded that day saying it was not a good move to buy their GP for 11x ebitda. We would learn later that 11x ebitda was a steal and is part in parcel why MMP is able to outperform so many other MLPs.
This is one to hold to the end of life. MMP's asset footprint. Awesome. BPL is the only other major petroleum based MLP and its asset base in the northeast is slow to no growing while MMP's gulf assets are in the highest growth area and set to play big in the exporting of oil which may be a step closer as a result of TUE's election.
Do not dismiss the possibility of a future in which sand less fracking is invented. Waterless fracking is on the way in. The driving force is the industry that does not want to be held hostage to a need for water or sand and having to pay high associated commodity costs.
These commodity-based MLPs have not ended well when new technologies eliminate the need for said commodity. Be very wary over the mid-term because I believe sand less fracking is in the works and on the way.
You don't need two separate BDCs. Higher costs to shareholders for management and other fees and frankly investing in CLOs is so passé now for most better of breed BDCs.
You are all delusional if you think PWE will EVER make any come back. Stock over $25 a few years ago.... can't you figure out management screwed too many pooches too many times having lost 85% of value?
Look at a five year chart. What in god's name were you thinking when you look at all the other energy related stocks like MLPs that have doubled, tripled, quadrupled and doubled or tripled their distributions to shareholders. Lick you wounds and like Gordon Gekko in Wall Street....... "dump it!".
SJT is best of breed. ECT is a POS. Stop dreaming that an upgrade for SJT means good things for ECT.
ECT was a speculative fraud that suckers have bought all the way down the hill.
Excuse me, this management team that aligns itself in other ventures with the likes of Aubrey McClendon have clearly shown a propensity to overreach. Its about the culture at ARCP now and what management must do to change the perception they play very fast and very loose.
It is also about admiration and association with Aubrey McClendon. If this management team admires a clown like McClendon who destroyed so much shareholder value then this morning they can be proud of their contribution toward shareholder destruction. Maybe this is the end for ARCP and perhaps ARCP just became a takeout candidate. The next move must be by the Board and if they rid this company of this management team perhaps there will be some good to come out of all this mess.
So what does this have to do with PWE? All you have to do is look at five year charts of PWE versus so many other energy sector stocks. PWE has lost more value than 99% of energy sector stocks.... so why own this POS? Because you think it will return to its glory days? That is the stuff that makes for retirement plans including developing a palate for food found in the pet food aisle of your local grocer.
Hey, this management team makes no bones about admiring and working with Aubrey McClendon. That's all I ever needed to know to steer away from owning ARCP. In the end I think ARCP will be the next General Growth Properties... too much expansion of questionable valuations that get exposed to the light of day over time.
This massive write down when compared to the market cap of CLF..... this stock is all done. See U at $4.
If you are required to speculate on M&A as a means to an end then that all but tells you all you need to know about NI. I think these companies are looking for newbie suckers to buy anything with the "MLP" tagline meaning newbies will get burned as the experienced MLP investors continue to stay with LONG TERM best of breed in the MLP and GP to MLP space.