I would add that the new pipeline acquisition, we didn't get "how" this will be paid?? Another offering? Depending on the financial details, they might not even increase the distribution this qtr.
Does anyone understand why? LC got a .03 increase and LK stayed the same. Under the old arrangement XTXI didn't get the extra increase until the IDR's kicked in, which was when EX hit .375 on Distribution? I guess the structure now changed?
Was there a release stating they were added to Alerian index? I never saw anything about this? XTXI was removed just before the new ENLC.
I hear ya.... I just feel if the drop was "rumor" related, then the same drop should have happened with EX. I see it as more than normal downside volume with the rebalancing... maybe stops were taken out?
I think it is more about the Russell rebalancing... seems still selling pressure from this event. Should move higher once selling pressure cleared out.
I just asked the same question. Didn't see your post. My speculation is yes! The stock fell $3 and I first thought it was because of the $2 payment... But how could that happen in the middle of a trading day? I think they will go off after the market closes with the trade date not settlement date.. XI traded over 7M shares because it is being removed from the Russell 2000.... Creating more sellers than buyers but nothing has changed? Simply a new company now.. I think today was simply a huge buying opportunity.. I added 5K shares today also... Hope I am right...
If I bought shares today at 2:00 for 36.70 do I get a share of Enlc and $2.05 on Monday? A little confusing? Will they go off trade date or settlement date? I don't think the price fell because of the $2.. XI traded over 7M shares? It had to be sellers of the Russell 2000. I think the $2 cash would have to be trade date after close. Right?
Once the deal is finalized....XTXI holders receive a one time cash divy of $2... The stock has been trading with that premium factored in, so most likely we will begin trading under Enlink and you will have the $2 cash per share in your account. The price adjusted by the $2... It over shot to the downside, probably some panic selling not understanding the process? Just saw a buy recommend on CNBC for Crosstex....
The downgrade was more on valuation. They believe "near term yield compression from synergies and growth development may be limited". $33 target price, so fully valued at this time...thus "hold".
Baird on the other hand issued 6 MLP downgrades and recommends recycling capital into its top investment ideas: OKS, PAA, RRMS, AND XTEX! " Despite downgrading multiple high- quality MLP's, Baird says it's long -term bullish view on the sector remains unchanged". So, we have a buying opportunity on this correction....
Unless you are yield driven, why would you buy EX over XI at this point? Full Disclosure, I do own EX, but going forward wouldn't you only buy XI? If you believe in the Enlink company, it is already proven in unit appreciation.
Yes guidance is for the remaining three qtrs, but the div/ dist is full 14. It suggests the Ex dist will basically go up a penny each of the remaining 3 qtrs. XI div was just .15. And full year is now .80 instead of .60, suggesting roughly that they will increase to 21 cents the remaining 3 qtrs. now this will only be the average. It will obviously be less 2nd qtr, and more the 4th qtr. I am just confused or obviously don't understand fully how the IDR's impact XI? EX is currently at .36 and needs to hit .375 before the next step up for XI dividend. Or with the new entity, did this all change? Have I lost everyone?