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.
Both of these big boys may have joined the running but are too involved in their own merger transactions to play.
No longer a target of KMI as result of their own M&A transaction this morning. I believe the Targa complex is set to outperform KMI over the next five years just as they have done the past five years.
Leon Cooperman once again shows his investment prowess having taken big positions in ATLS and APL. I got out at $36 because I thought APL/ATLS too small to do big things on their own. Have owned NGLS/TRGP for years now and this will be a great fit and now I get to own APL/ATLS in an even better way with a much stronger G&P complex that can do much bigger things (NGLS/TRGP) than APL/ATLS can ever do on their own.
OILT is oil tanking. TRGP is natural gas gathering/processing. You need to do some homework before making declarations that make no sense at all.
I owned APL buying near its bottom after it had to eliminate its distribution. They made all the right moves to recover but are too small themselves to go forward. This will take NGLS/TRGP out of the being eaten by a bigger GP/MLP complex. More exposure to G&P in areas NGLS/TRGP do not have assets and they should be able to exploit. Purchase price is at a decent discount taking into account some of APL/ATLS's weaknesses.
Great news that the non-midstream will not be part of the transaction. I hate when noncore assets are forced upon a buyer only to leave the buyer with the mess of selling, usually at a loss.
Looks like the two E&P MLPs, BBEP and LGCY who both issued equity just in the nick of time are getting hammered far more than the peer group including LINE. I assume at this point short sellers are slamming these two because of the much larger float that new investors into either secondary surely feels burned badly.
NAT used its equity currency irresponsibly and that is why NAT has been crushed. True very little debt but when you overpay for ships during an overbuild cycle you smash equity valuations.
Underwriters always get out of the way of a runaway train. This downdraft is market wide and not specific to LGCY. Therefore the underwriters feel no duty to support. I agree with that assessment because look at LINE, VNR , BBEP, EVEP, etc. Fact is Legacy is doing much better and opportunities have been created in LGCY which is a far superior E&P to LINE.
Actually this looked more like forced selling in the final hour meaning maybe a hedge fund blew up and had to dump LGCY. I bought at close and quite happy with this type of dislocating trade where a secondary set the stage followed by a horrible down day.
This has all happened before with these soda water makers..... in the end when people have more money in their pockets they want the real deal again... not this flavored water garbage.
So what? You think this stock is worth $75/share and insiders always get it right? The history of commodities related investments is rife with implosions of stocks where world view changes have resulted in complete destruction of shareholder equity.