I don't know where you bought in, I bought at $9.08 and sold the April covered call for $.25. If I do that every two months, that's a nice 16.5% return. Better than selling for a loss. Of course if you bought in over $10, that might not work well.
While they did not discuss the distribution, there is no reason to cut it now, even though they probably should. If nothing else, the increase in dcf from the midstream assets should have them covering the distribution sometime in 2015. Cutting the distribution would only make the unit price tank more, so I doubt it is in the cards.
I bought most of my shares in April of 2009 and never plan on selling. Selling to get in a lower price would only help the government with all the taxes I would have to pay. My comment to saving was more along the lines that if some one was interested in buying, it would be worthwhile to wait as this is usually the time in the quarterly cycle that MMP goes down in price. As I told my friend, who I help invest, who complained last quarter when MMP had lost $3-$4 per unit, don't worry it does this every quarter and when the distribution is announced, sets a new 52 week high, usually a few dollars higher. I don't see any reason for this to not continue for the next two years.
I agree. I see MMP dropping to $66-$67. It will then set a new 52 week high of +- $72 after increasing its distribution $.025 - $.03. Nothing new about this as it has been doing this for over a year.
BWP's earnings call and several articles at the yahoo BWP site. Sounds like possibly a cut to $.10/quarter for one year. The question seems to be, how low will it go? When will it become a buy? DCF expected to be $1.60 per unit next year with the extra $1.20 to reduce debt.
Wow, what a disappointment. I work for a company that had organic growth in the Eagle Ford. It took three years to get cash flow positive. And good luck with good acquisitions with all the competition out there. I cant see how they can justify a distribution that will be seriously underfunded. I sold some puts at $5 to try and get in cheap, but bought them back today for slight loss today as I now view EROC as a sub $4 mlp. I am surprised that EROC isn't trading in the low 5's. I will watch the next three earnings reports and see how EROC performs. Just a huge disappointment. Good luck to all longs.
If you have been paying attention over the last year or so, WPZ has had a fairly predictable trading range. Every quarter after it goes ex-dividend, it slides to +- $48 and then climbs to $52-$53 as we get closer to the distribution date. Which is why I bought 30 Feb14 $50 calls for $.80. We will see if this quarter is the same as the last four or five.
I totally support jdt's right to write ten hate messages a day when EVEP is down. Didn't I say that I hoped that EVEP would be down the five days in a row so he could write his hate messages for the next five days. I guess I should have expressed my self better, the only way he comes across to me is like a two year old throwing a temper tantrum. If that is his goal, he has succeeded. Lets actually take a little time to look at EVEP's horrible management. What did they do wrong? Certain wasting a year trying to trade the Utica acreage for producing properties was a huge mistake. In that time the volatile oil and oil acreage went from the most valuable to least valuable. They should have found a way to make the deal work with the party whose bid on most of the acreage was acceptable. Also the timing of the unit offering was horrible. I think they waited because they already were not covering the distribution. Still, do the offering at 70 and would only need half the shares. In my opinion that's about $10-$15/ unit value destruction. What wasn't their fault? That the Utica didn't turn out to be the next Eagle Ford, nothing they could do about that. $27/unit value destruction (if you count the rise in unit price and then the decline of the unit price due to hype as value destruction). What should management be praised for? Making the decision to own a piece of the midstream assets in the Utica. Which other E&P MLP has done that? None. $15-$20/unit value creation over time(2016 EBITDAX estimated to be 56m-69m). Huge. Like I said in a previous message, EVEP is a three year play. Collect my 12% on my original investment and see if I like where EVEP is at the end of 2016. If I don't, I will start selling covered calls monthly until the shares are called away. I will then go and pay my taxes and find a new investment. What I wont do is write a million hate messages. A for you liking his messages over others, you don't even have to open his, they are all the same.
They are stupid because you have posted them a million times. Yes management did a bad job on the Utica, everyone knows that. A million posts on that is just plain stupid. Ranting about their compensation isn't any better, they run the company and will receive compensation for it regardless of whether they do a good job or not. Just like if you are employed, you get paid whether you do a good job or not. lol Hopefully you are not employed as the amount of time you spend posting should get you fired. And litigation, really, that is so stupid it doesn't even deserve a response. Yes your Honor I am suing because speculation drove the price of EVEP to $77 and when that speculation proved wrong, it dropped to a realistic price. Makes me laugh just thinking about it. Hopefully it will be down for the next five days in a row, so you can make the same stupid post. Cheers.
Looking for $40/unit by year end. Increased DCF quarterly due to Utica ORRI, midstream assets, increased NGL prices. Hopefully at least one Utica acreage sale and then acquisition with those proceeds. Then $5 increase per year for the next two years. Not exactly when I would down grade EVEP, should be reasonably close to the bottom.
Yes, I agree. I've been in almost 5 years and epd has more than tripled.
jdt has to write ten idiotic messages a day about evep management. Everyone knows they did a lousy job on the Utica and continue to do a lousy job on the Utica. Only he seems to think he has to write hate mail ten times a day. I guess he will never realize that evep was never worth more than $40 and speculation only, drove it to $77. Evep will probably never be worth $77. $50 in three years is something to hope for.
Yeah jdt has nothing better to do all day than write negative posts on EVEP all day. I guess he so upset about losing most of his paper gains on EVEP, that he has finally lost his mind and doesn't know what message board he is reading or posting on. Its so bad that I even knew he posted on the wrong board before reading his oops message.
I may be crazy but I could care less about the price per unit. I bought starting on 3/9/09 and am in for the income only, as I never plan on selling. Maybe my children will care about the price once they inherit. As for crazy, buying calls on line? The market has been beating up all the E&P mlp's. I wouldn't touch call buying on line or lnco. Where I made money was selling the puts on line and lnco when they were in the low to mid 20's. Now on lnco, I do care about price. I bought 1000 shares today and sold the $29 covered call for $.70. Trying to make 25% a year doing that.
Did anyone actually read the IPO? What a joke. Anyone would have to be crazy to invest in that.
How can anyone say that EVEP is undervalued? Market seems to want any E&P mlp to pay 10%. Not even close to covering their distribution and only one sale of acreage this year. Pathetic, as everything seems to be on the GP's time frame. Even if three years from now we are at a $4 distribution, that will still only equate to a $40 unit price. Right now the unit price is exactly where it should be. That sucks, but is true.