right after market closes, good.
with the insider purchases this quarter and shorts covering stock looks ripe for its first move up into a new uptrend.
I think that is reasonable estimate but always chance of beating it like last quarter. Looking foreword is going to be what moves this MLP as nat gas prices have cratered which will greatly improve margins and earnings/distributions going forward. Stock is so oversold here it doesn't reflect that the company's prospects have totally reversed and are heading higher. I expect Agrium or TNH/CF to pounce on RNF while its dirt cheap. With the board turmoil at RTK and investor groups there wanting to sell RNF it is likely to happen as soon as they show a turn in their earnings. One sharp analyst is already predicting it.
Ukraine is big exporter of both ag products and fertilizers. If turmoil increases that will likely get shut off which would be a huge plus for domestic fertilizer prices.
Would not surprise me to see a hostile buyout develop. Agrium is rumored to be on the prowl to buy now with sector undervalued as they are rumored to have approached CF and RNF. RNF makes more sense as Agrium buys a big amount of RNF's output.
Nat Gas is expected to drop to 3.45 by october now. RNF will likely be minting money for the fore seeable future. Stock pricing is way below replacement value, even in light of new credit facility with GE Capital that is saying companies finances have greatly improved otherwise they would have never received such good terms and expansion of borrowing capacity.
thats still a big chunk for a income fund to hold of a stock that doesn't fit the criteria of a income fund.
Franklin Custodian Funds-Income Fund 2,048,551 11.62 18,846,669 Mar 31, 2014
Play on a big turn around in the long term!
that is all good news! The rebuilding of 20million working capital was old news and expected. They will likely only do a little each quarter and not all at once. The real news is the fact GE gave them 15 million more in a credit line and made the first 35 million without financial covenants……they wouldn't have done that if RNF was in financial problems and likely the quarter was a blow out on the up side to get that. They also said currently there is no outstanding credit balance, another big positive. With nat gas down to 3.80 the margins are expanding huge going foreword! Bigger earnings and distributions. There is two groups on the parent board now that want to maximize value, one pushing for a outright sale of RNF.
shorts are in trouble here as you look at the amazing comeback in bank debt prices showing company is
doing great on growing digital revenues and holding on to print. Looking for some major announcements on refinancing, Yelp partnership and more buyback of debt early with excess cash flow
RNF wants to go up into earnings
Credit agreement expansion with first 35 million of it without having to meet financial requirements is showing company had big earnings this last quarter!
410 contracts traded at .50