There is technical; resisitance at about 8.75 if goes past 9 there is really no resistance till about 11. If everyone remembers the stock drop from 11 + to under 9 when they annunced second quarter results. It appears the stock is trying to push beyond the resistance point.
Really the report was not all that bad. The company had positve cash flow. The cash in more than covered the dividends and capex expenditures. As MF pointed out their drilling costs are going down and balance sheet is improving. The street at current price has this undervalued by quite a lot. At 10% discount it assets net PW is valued at close to 9 billion (10% in this low interest rate environment is too high so the assets are probably worth more) and that does not take into consideration and future developments. Hopefully analyst will realize that Roberts is excuting his turn around plan and give him credit for and price PWE at more appropriate levels.
If your hunting for high tech or biotech gowth UAN is not the stock. UAN will produce earnings that equates to fertilizer prices. Currently the stock is still uundervalued based on the probable dividend for this year which appears to be in the 2 dollar range. I suspect the stock will inch its way toward the 25-27 level which will cosrrespond top the dividend outlook. UAN which is not mention still has the potential of industry consolidation in bewteen the two other MLPs in thisspace. It would be wise to have multiple plants for output instead of relying on on plant as these companies mainly due. I own the stock for the dividends and the tax advantages fo the MLPs
There is a minimum draw down level for storage levels in the various storage fields and it is not zero. The combined minimum draw down is slightly below 1000 I believe if memory is correct. If someone knows this number it would be interesting to know. I know FERC is concerned about this from conversation I have heard. There is good chance we could approach that level and if that is the case you could see an additional price spike about $6.