The DCF coverage of BWP is less than 100%, by a small margin, and the distribution growth is small and currently stalled. BWP reminds me of the former CPNO...not a very large MLP, a $2 distribution with little growth potential, business dedicated mostly to nat gas with little liquids exposure, and a DCF coverage of 80%-90% depending on the quarter. Price action with BWP is comparable with CPNO...the only difference I can see so far is that CPNO was acquired by KMP...I wonder if that could be a potential for BWP? Thoughts?
Do not see any news to the downside...no real catalyst for the stock to go up. Should hit bottom around $26.30-$26.41 as that is 10% down from the ex-date price. 5%-10% is the usual decline after the ex-date with the extreme being 15%...but that's only happend once in 3 years. Buy more as I am. GLTA.
I'm not sure what the rush is...why not see what they say first, before getting in...this stock is WAY below where it would be if earnings are solid, coverage is above 1 and the deal goes through. I mean, if you like losing money, that's great, but I'd be careful here. Seriously.
That's great, but then why is LINE announcing earnings so quickly after BRY just reported? Again, there is SOOO much upside potential in this stock if the deal goes through, and SOOO much unknown that the market isn't pricing in anything, that you can sit on the sidelines and miss the small initial move, but catch a ride to $40 if the deal is approved. If it isn't, you sidestep a massive selloff. No brainer to me.
The deal is 99.9% dead from what I can make of the BRY statement. I'm out and watching...LINE seems like it's lost here.
So, Yahoo stated earnings would be out on teh 21st, then I saw the 24th...anyone know for sure what the hell is going on? This company is starting to irritate me.