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Kinder Morgan ManAŞement, Ltd. Şti. Message Board

jim_hairball 9 posts  |  Last Activity: May 27, 2016 4:20 PM Member since: Aug 4, 1999
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  • jim_hairball jim_hairball May 27, 2016 4:20 PM Flag

    I have some concerns over AMID's debt levels, AMID will need to do it's preferred secondary issuance, that NGL has already accomplished. But I liked AMID alot, I doubled my money on it....time to redeploy capital into another non-oil/MLP type asset...plan on holding onto NGL for some time...unless there is some NEW news that will cause me to alter my plans, GLTA

  • jim_hairball jim_hairball May 27, 2016 11:48 AM Flag

    Thank you for the write up, shabang.
    I sold out of my AMID yesterday, and now hold NGL as my only high yielding MLP.
    I need to be more diversified, have too much in oil-related stocks the way it is.
    I need to practice Capital Preservation as I get older.
    I do have size-able stakes in KMI & ETP, with a token (1%) stake in LGCY

  • Reply to

    MLP comparisons as of May 3, 2016

    by prof.williamdyer May 20, 2016 2:11 PM
    jim_hairball jim_hairball May 20, 2016 7:49 PM Flag

    thanks for all your outstanding work, I think that I am like you in that I lost some in upstreams, but swapped out into mid-streams at depressed prices (NGL, AMID, ETE) and made back my money....for now I hold NGL, ETE, AMID and a small stake in LGCY....But these (mlps) are 10% of my investments

  • jim_hairball by jim_hairball Apr 26, 2016 12:33 PM Flag

     Key Takeaways. On 4/21/16, NGL announced a series of de-leveraging
    initiatives which we view as positive. These include (1) a $200MM private
    placement of 10.75% convertible preferred units to Oaktree Capital Management,
    L.P., (2) a temporary reduction in its distribution (annualized) by 39% to $1.56
    (i.e., savings of $170MM/year); and (3) approximately $100MM of debt
    repurchases at $0.60/dollar. Including proceeds from the sale of GP and LP
    ownership interests in TLP (~$462MM) and the de-consolidation of TLP debt, we
    expect total potential debt reduction of $1.2B from these initiatives. We estimate
    FY2017 (ending March 2018) and FY2018 leverage of 3.4x and 3.1x, respectively,
    (versus current leverage of 3.8x, as calculated by lenders) and distribution
    coverage of 1.73x and 1.77x, respectively. We are raising our valuation range to
    $15-17/unit from $10-13/unit to reflect a shift in our valuation methodology to a
    (yield based) distribution discount model (from sum of the parts previously) as
    we view the revised distribution as more sustainable. We maintain our
    Outperform rating. We are also raising our FY2016 and FY2017 DCF/unit
    estimates to $2.15 and $2.70, respectively, from $2.10 and $2.53.

  • Reply to

    Other low cost E&P's like MCEP?

    by twfry_2001 Apr 7, 2016 1:13 PM
    jim_hairball jim_hairball Apr 7, 2016 1:48 PM Flag

    well took my loses and sold out of MCEP....good luck to those that stay in

  • Reply to

    Is there a merger or acquisition coming?

    by rahdbob3 Apr 1, 2016 3:12 PM
    jim_hairball jim_hairball Apr 1, 2016 5:58 PM Flag

    "Just read up on going private. They would have to offer prices substantially higher than the market."

    Hardly, All Yorktown has to do, is to offer a price that the unit-holders are willing to sell for. I owned the old KMI years ago when it was taken out via a LBO....the recent run-up in MCEP is a premium price for recent unit-holders, don't except the a LBO to buy MCEP at $3.00 or higher...at that price level Yorktown would have no interest at today's Oil Prices...IMHO

  • Reply to

    Is there a merger or acquisition coming?

    by rahdbob3 Apr 1, 2016 3:12 PM
    jim_hairball jim_hairball Apr 1, 2016 4:21 PM Flag

    Merger??? Hardly...no other upstream MLP is worth merging with.
    Acquisition???Hardly...no oil company buys old properties that an upstream MLP has.
    LBO (leverage buy out)???Maybe...Yorktown taking the company private and don't have to bother with individual unit-holders anymore
    Just My Humble Opinion..selling off my stake in MCEP as prices rise...sold at $2.03 & $2.11...still own a few shares

  • Reply to

    New executive

    by hyung.lee31 Mar 30, 2016 2:26 PM
    jim_hairball jim_hairball Mar 31, 2016 3:06 PM Flag

    What gives...all of a sudden someone wants to buy this...big jump in the last hour...still own a few shares...praying for a good outcome....of course praying for a good outcome is not what investing is about...so my stake in MCEP is 2% of my investment portfolio.

  • Reply to

    MCEP Short Interest

    by geographic01 Mar 1, 2016 4:20 PM
    jim_hairball jim_hairball Mar 3, 2016 10:53 AM Flag

    "MCEP is my largest holding."
    Well if I had $50,000 in MCEP, and I tried to sell it all in one day, then I would be the biggest seller for the day...that is too much for me...therefore MCEP is NOT my largest holding, more like a small percentage, so if it does have a massive dilution and current existing equity holders are wiped out...it would not hurt me that much...KMI is my largest holding, owed the old KMR for many years...BUT I am all for MCEP soaring higher,

KMR
104.71+3.81(+3.78%)Nov 26 4:05 PMEST