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Kinder Morgan Energy Partners, L.P. Message Board

donedealer 45 posts  |  Last Activity: 7 hours ago Member since: Jul 2, 1998
  • Reply to

    Getting hammered over past 2 days

    by lenyw May 15, 2014 10:40 AM
    donedealer donedealer May 15, 2014 11:55 AM Flag

    I believe that the prevailing view on this board is that the restructuring plan is preferable to the stock buy backs and it will materially reduce the discount to NAV. Because the stock is not now reflecting this optimism it appears that these posters believe that the market doesn't understand the benefits of the restructuring. Yet, is it possible that the market does understand the restructuring and doubtst that it will achieve its goals? Time will tell.

  • Reply to

    Restructuring question

    by donedealer May 10, 2014 8:26 AM
    donedealer donedealer May 12, 2014 12:24 PM Flag

    With all due respect bg4value, if you need to rely on others to get financial information you are headed for trouble. You may even end up basing your investment decisions on the advice of brokers and financial analysts.

  • Reply to

    Restructuring question

    by donedealer May 10, 2014 8:26 AM
    donedealer donedealer May 10, 2014 11:18 AM Flag

    NMB

    Thank you for your response. However, it appears that ACAS is now effectively at zero debt.
    Q1'14 shows about $600 million of debt net of cash and the subsequent sales appear to put them in a net cash position plus they have lines of credit.. I continue to be puzzled by this obsession with liquidity.

    Further, in this low interest rate environment I am troubled by this strategic focus on "unlocking shareholder value" rather than investing to "enhance shareholder value". The surest way to get a share price to NAV is to produce an ROE greater than 10% (over $2 per share annually) with NAV growing accordingly. If NAV were at $22 to $23 today the stock would be at least at that level.

  • donedealer by donedealer May 10, 2014 8:26 AM Flag

    ACAS has been raising cash by selling assets and has stated on the CC that it must continue to raise cash in order to have flexibility in a restructuring. It seems to me that a restructuring would not require additional cash but would probably be a source of cash. What restructuring scenario would require more cash?
    Is it possible that ACAS might be contemplating a tender off for a large percentage of its outstanding shares?

  • Reply to

    Blackrock SC 13G/A

    by sandy.criscione May 8, 2014 3:20 PM
    donedealer donedealer May 8, 2014 4:44 PM Flag

    NMB

    Go to Yahoo Finance ACAS Major Holders. It shows Blackrock at 19,254,390 shares as of March 31, 2014.
    Apparently they were big buyers in April.

KMP
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