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North Atlantic Drilling Limited Message Board

bobdbeck 173 posts  |  Last Activity: 18 hours ago Member since: Oct 7, 1999
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  • on mREITs this morning, to include AGNC, CIM, CMO, CYS, MFA, MITT, NLY, MTGE, and PMT. All now upgraded to "outperform".

  • Reply to

    From Raymond James today (from the IV board)

    by bobdbeck Jul 1, 2015 11:05 AM
    bobdbeck bobdbeck Jul 2, 2015 9:19 AM Flag

    Re: DPM by moneynomics on the IV board:

    DPM is 90% fixed fee and hedged sales in 2015 and currently 65% fixed fee sales going into 2016 and 45% hedged on non fixed fee sales (80% effectively hedged-fixed fee), but catch 22 is DCP is the shipper-counter party to several of the fixed fee contracts and they are also probably under hedged. Subsequent to December 31, 2014, DCP Midstream, LLC's credit rating was lowered below investment grade. Also DPM still has around 1st qrtr $1.2 b in revolver capacity credit ratio coverage of 3.3x and distribution coverage of 1.1x. DPM already announced no distribution increases for 2015.

    So possible resolutions that have been speculated on

    1. you could see a roll up of DPM back into DCP ie then back into P66 and Spectra by buying out the unit holders of DPM.
    2. both Spectra and P66 have ipo'd new mlps in the last couple of years so DPM could be split in some fashion and rolled into their two new mlps through a structured buyout.
    3. DCP could be dropped down into DPM and DPM restructured
    4. Spectra is debt constrained so P66 could become a guarantee to DCP/DPM debt and take a disproportionate higher ownership in DCP/DPM
    5. P66-Sepctra could sell some of their ownership interests into the private market and fund any DCP/DPM liquidity issues
    6. P66 and Spectra could buy/guarantee DCP's fixed fees for DPM
    7. DPM could cut the distributions but would not help DCP.

    It is taking them so long one could also speculate it will be one of the more complex resolutions ie 1 thru 5 . Also I would be surprised if p66/spectra sold dcp-dpm to a third party.

  • Reply to

    From Raymond James today (from the IV board)

    by bobdbeck Jul 1, 2015 11:05 AM
    bobdbeck bobdbeck Jul 2, 2015 8:33 AM Flag

    At the current price of LNCO I'm going to begin to nibble on some shares to lower my all over cost basis. I think the divvy is safe for at least this year and we may be at or close to the bottom on the E&Ps. GLTME.

  • In a new note today they reiterate a Strong Buy rating on LinnCo and an Outperform rating on Linn Energy, writing that there are several pending positive catalyst to offset debt worries.

    They believe that the market continues to underestimate Linn Energy’s base cash flow business, along with the impact of its multi-year hedge book and its acquisition opportunities.

  • Reply to

    OT: TK

    by marklibera Jul 1, 2015 9:58 AM
    bobdbeck bobdbeck Jul 1, 2015 11:03 AM Flag

    GMP Securities initiated coverage on GasLog Partners LP (NYSE: GLOP) with a Buy rating and a price target of $29.00

  • Reply to

    OT. SNR

    by jerseyvinny2 Jun 30, 2015 12:31 PM
    bobdbeck bobdbeck Jun 30, 2015 12:57 PM Flag

    Vin: I take serious consideration in how long it took NRZ to gain it's footing so I'm a long term hold on SNR. It has tanked badly but most is recent from the large secondary last week. Great article this morning in S/A on SNR. Very bullish on it's future. I've got enough losses carrying forward to sell to book. You should be safe buying back next month. Doubtful we'll see a significant recovery that soon but it's something I'm intending for a long term hold.

  • Reply to

    OT: Thoughts on the market?

    by dividendhunter Jun 25, 2015 6:26 PM
    bobdbeck bobdbeck Jun 30, 2015 10:14 AM Flag

    So was my ED in the green but getting a hit today.

  • From tonight's P.R. The Partnership's management intends to recommend to the Board an increase in the Partnership's quarterly cash distribution per unit of between 7% to 10%. This increase, together with the previous increase with respect to the quarter ended March 31, 2015, will result in a cash distribution per unit of between 24% to 27% above the existing minimum quarterly distribution.

  • bobdbeck by bobdbeck Jun 25, 2015 2:57 PM Flag

    take a look at this BDC......(TPVG). Shareholder friendly management fees, venture capital in the technology field, can't figure the yield as they've paid a special back in Dec. and just paid a full divvy in Mar. and again in May, which I can't fathom. Your thoughts..............

  • Reply to

    OT: WMC

    by marklibera Jun 25, 2015 12:00 PM
    bobdbeck bobdbeck Jun 25, 2015 12:17 PM Flag

    You're not crazy mark. I sold early this morning and booked 3 divvys and a small capital gain. As you, I will wait out a possible secondary. I have been thinning out my REITs though just in case the sector gets hit on an interest rate raise. SNR and NCT getting hammered today with no "apparent" reason.

  • bobdbeck by bobdbeck Jun 25, 2015 9:55 AM Flag

    NYMT and WMC. JFYI

  • Reply to

    NMM up nicely in a down market

    by bobdbeck Jun 24, 2015 3:22 PM
    bobdbeck bobdbeck Jun 24, 2015 6:04 PM Flag

    23 panamax/capesize/handymax and 8 strictly containerships. The 23 can carry any number of cargos from grain to ores.

  • could it be the BDI has hit a new 2015 high of 829?

  • Reply to

    O/T AAPL

    by wingnut90266 Jun 24, 2015 12:37 PM
    bobdbeck bobdbeck Jun 24, 2015 2:31 PM Flag

    Geez kee, I upgraded my flip phone about 3 years ago. For a long time I wouldn't get my wife a smart phone, no need, so she convinced my son to get her one for her birthday and put the line on his account. Best of both worlds. If I need to get online while away she's always got a smartphone and it costs me NOTHING. Finally getting back some of the cash I spent on my kids college education LOL

    P.S. I don't even have texting on my account and I probably make about 4 calls a month. Still a waste of money for me.

  • Reply to

    O/T AAPL

    by wingnut90266 Jun 24, 2015 12:37 PM
    bobdbeck bobdbeck Jun 24, 2015 1:21 PM Flag

    LOL. You mean I've been missing out on some great stock advice by not having a smartphone???

  • Reply to

    O/T AAPL

    by wingnut90266 Jun 24, 2015 12:37 PM
    bobdbeck bobdbeck Jun 24, 2015 12:56 PM Flag

    As soon as I decide to get a smartphone I'll think about the watch. Right now I'm happy with my LG slide dumbphone. LOL

  • Reply to

    I'm holding

    by bobdbeck Jun 24, 2015 8:37 AM
    bobdbeck bobdbeck Jun 24, 2015 10:12 AM Flag

    FIG management has not been afraid to pull the trigger on what may look like bad deals or walk away from what they may feel are overpriced ones. They walked away from the ResCap deal with NRZ when bidding got out of hand and that's worked out wonderfully for them as they have now acquired all the HLSS assets and it looks like OCN may come into the fold too. Hopefully the senior living assets just acquired will also prove out to be big winners.

  • bobdbeck by bobdbeck Jun 24, 2015 8:37 AM Flag

    a sizable position in SNR from the NCT spin off but I'm glad I didn't round that position UP as I usually would do. Secondary priced this morning at $13.75. So far this is a strange one and they'd better explain this move more in detail as shareprice continues to fall down to the offering price.

  • Reply to

    GLOP priced

    by bobdbeck Jun 23, 2015 8:51 AM
    bobdbeck bobdbeck Jun 23, 2015 5:59 PM Flag

    sarge, at today's closing the yield is OVER 7.6%. :~)

  • bobdbeck bobdbeck Jun 23, 2015 3:25 PM Flag

    memeds, here's the bottom line. There are NO long investors right now that have made money on SNR. We're ALL in the RED as the price has declined. The only ones in the green are the 4.3 million short shares. Either take your lumps and sell or hold on, keep collecting your dividends and wait for the share price to recover, which it will, IMHO. It took NRZ almost 18 months to begin to fulfill it's expected returns and this will most probably be the same. You certainly have no faith in management and continue to denigrate Wes Edens for what you perceive are his unfounded, underhanded dealings with the company. Enough already.

NATDF
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