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Energy Transfer Partners, L.P. Message Board

clownbucks 2 posts  |  Last Activity: Jul 4, 2014 12:56 PM Member since: Feb 23, 2004
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  • Reply to

    proxy and result out for Y2013

    by clownbucks Jun 12, 2014 12:53 AM
    clownbucks clownbucks Jul 4, 2014 12:56 PM Flag

    Did anybody attend thr shareholders meeting? it would be nice to get some color on the significany real estate acquisitions as well as on the increased compensation expense,which I assume is related to the trust business.

  • Results were somewhat disappointing with earnings down to 30$/share after being around 40$/share kast yeat. Reason: higher compensation and service expenses and a lack of gains from security sales.

    Below are my numbers from the proxy material.
    QUCT Queen City Investments
    0.0478M shares (flat YoY)
    19M$ in cash and securities (~400$/share)
    1M$ in hedge fund
    17M$ in properties(+2M$ YoY)

    Revenues: 10.9M$
    Trust fees:7.8M$
    Rent income:~2M$
    1.43M$ in net income (~30$/share, down from 40$+ year)

    Subsequent to 12/31, they purchased commercial properties for 7.9M$

    Sentiment: Buy

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