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Inovio Pharmaceuticals, Inc. Message Board

ivestors 10 posts  |  Last Activity: 15 hours ago Member since: Mar 21, 2010
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  • Like most oil-and-gas producers, Breitburn’s (BBEP, $5.39, 18.5% yield) stock plunged in the past year, cascading 63%. That slide pushed its yield up to 27.5% just before Breitburn slashed its dividend in half in early January.

    As a master limited partnership, Breitburn distributes most of its cash flow to its investors (known as unit holders) in monthly payments. But you shouldn’t bite, says Matthew Na, co-manager of the Westwood MLP and Strategic Energy Fund (WMLPX). Breitburn’s dividend is based on a forecast of oil prices averaging $60 a barrel this year and natural gas at $3.50 per million BTUs, both well above recent prices. The MLP’s balance sheet carries a lot of debt, and Breitburn has already tapped $2.2 billion of its $2.5 billion line of credit. That leaves a thin cash cushion to run the business or make acquisitions, a key part of the firm’s growth strategy, says Na. Breitburn’s line of credit may also come down when its lenders reevaluate the firm later this year. “If investors want energy exposure with a yield component, I believe there are better-positioned companies available,” Na says. “I would avoid this one for now.”

  • I think LINE's bottom is in. I already own New Source (NSLP) which is another energy-related MLP with 11% distribution yield and the lowest leverage ratio in the upstream sector. NSLP has Long Term Debt to EBITDA ratio below 2 times.

    Additionally, NSLP currently trades less than 4 times its annual EBITDA for 2015 while having a well-diversified business model (upstream and energy services).

    But I bought LINE yesterday because I think the bottom is in.

    Sentiment: Strong Buy

  • Reply to

    NSLP (11%) and LINE (9%)

    by ivestors Feb 7, 2015 11:28 AM
    ivestors ivestors Feb 8, 2015 6:02 AM Flag

    Based on their latest guidance, they will make about $35 million EBITDA only for the energy services. Add another $20-25 million from the Upstream segment and their good hedging program, according to the latest presentation.

    69% of their natural gas for 2015 is hedged.
    84% of their oil for 2015 is hedged too.

    more importantly, the very strong balance sheet thanks to the very low leverage allows them to expand in 2015 with opportunistic acquisitions as the CEO said recently. This matters most to me during this turmoil in the energy sector:
    Kristian Kos, Chairman and Chief Executive Officer of the Partnership said: “ We believe setting distributions at this level positions us to provide an appropriate and consistent return to our unitholders, while opportunistically growing our business and strengthening our financial position at the same time.”

  • Reply to

    NSLP (11%) and LINE (9%)

    by ivestors Feb 7, 2015 11:28 AM
    ivestors ivestors Feb 9, 2015 2:48 PM Flag

    Another great day for LINN! not weird for anyone has done a good DD.

  • Reply to

    NSLP (11%) and LINE (9%)

    by ivestors Feb 7, 2015 11:28 AM
    ivestors ivestors Feb 14, 2015 10:52 AM Flag

    The fundamentals suggests that without any surprise the stock should double in 2015.

  • My consern is that ETP streches its balance sheet too much by acquiring RGP.
    ETP's debt ratios will rise significantly and too much debt is not the cup of tea for many investors. I believe the stock price could be hurt if ETP needs money in the near future.

    P.S.:To diversify, I bought JP Energy Partners (JPEP) recently because JPEP has the lowest debt ratio (sub 2 times) in the midstream sector thanks to the IPO proceeds, and very high dividend.
    You can go to Seeking Alpha website and find all the JPEP articles that confirm all of the above.

    Sentiment: Hold

  • ivestors ivestors Mar 4, 2015 11:45 AM Flag

    The debt is sky high here while the CEO keeps dumping.

    You must be fool to be a buyer.


  • ivestors ivestors 15 hours ago Flag

    The risk with HERO remains very high and the investors must be very cautious, according to this excellent article from Seeking Alpha.

  • ivestors ivestors 15 hours ago Flag

    The company is heavily indebted now. The management takes too much risks, while the CEO is selling shares, not buying....

7.56+0.20(+2.72%)Mar 5 4:00 PMEST

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