Does anyone own or find DPM at all interesting, on the conservative end of the spectrum? I’ve owned it for years. Back in summer, when it was at $55, the yield was 5.6%, but now, at $44 it’s 7%. They seem to always increase the distribution a little, and over the last 5 years, the total return has been 14% per year. While the symbol is DPM, the name of it is DCP Midstream Partners. DCP stands for Duke Conoco Phillips. Years ago, Duke Energy had a lot of pipelines, but spun them off as Spectra Energy. The parents of DPM are now Phillips 66 and Spectra Energy. I just bought a bit more today, and hope to keep holding very long term.
Mark, when they say "low-cost shale E&P", does the term "low cost" refer to the share price or the cost of drilling? If it's referring to drilling, isn't low-cost and shale a contradiction in terms? And if they refer to share price -- geese there's such a boatload of beaten up shale E&P stocks, many quagmired in debt -- would be tough to figure out what to buy (for me anyway).
Thanks for the info, Bob, and earlier as well.
I can't help noting that LNCO has been paying $0.242 distribution monthly, which at a share price of 9.55, works out to a 30.4% yield. If that doesn't get Stagg into oil, nothing will! (Ha-ha! Just kidding, Stagg, just kidding!)
I had not expected this massive drop today. I thought the share price would be leveling out. No new news, so today's action seems wrong (or trader generated).
There's an article on SA by Alpha Wolf that presents a model which seemed well thought-of. But still, with the yield ridiculously high, there's fear of a cut even if (due to reasonable hedging for the present) it is not needed, and if there is a cut, there will be another knee-jerk drop in share price.
Personally, I'm going to stand back and watch a while longer. Yes, I believe there will be a big opportunity, but I'm not sure it's yet time to pounce.
Thanks, Mark. One definitely wants to be out of junk bond funds (I had a little fagix until recently) as I think I read junk bonds were 15% o&g. (Those bonds aren't worthless, just worth less!) also, out of foreign bonds. I noticed Fnmix had Russian bonds last they reported, not that I own any. However, i don't think the contagion has yet reached high yield stocks like nymt, and of course, people want to get that last divy of the year. It certainly bears careful watching, though.
Mark, NYMT is doing better than the S&P. (Friday, down 1.01% vs. 1.62% for the S&P; for the week, down 1.29% vs 3.62% for the S&P.) So I don;t get your point. You could say o&g is affecting everything, maybe, but NYMT less than most other stuff.
I don't see it as huge, and it's good that they have a plan for succession. From the Albert Alfonso article on SA:
"...Richard Kinder plans to turn over the CEO responsibilities to long-time COO Steven J. Kean. Mr. Kinder will remain executive chairman and will be involved "in "absolutely every critical decision that we make," according to Mr. Kean.
In addition, Regarding Kinder's massive stake in KMI, "He's not selling a single share of stock," Mr. Kean noted. No timeline has been disclosed for this shift in leadership. In addition, Kinder Morgan board would need to approve any transition plans."
I own some and actually added to it a little while ago, as it made no sense to me that it was getting dragged down with oil. I was early with that, but then they got this pop yesterday due to the new charters. I'll wait for things to simmer down and if I have any cash, get some more, as it is still depressed from where it was and I can't find anything wrong with it. C-corp, too.
Things can change rapidly. Triangle Petroleum(TPLM) traded for $12 in September, closed yesterday at $3.30, but today is up 48.79% !! Shoooo-weeee! This markets like a cat fight -- you want to watch but you don't dare get involved!
Did you guys see this? I think he's got a lot of things right...
Keebon, if you have time to expound on the reasons for your guess, I'd listen... Seems like Brent's gone down, WTI has gone down more, so the so-called crack spread is bigger, so refiners make mo' money, no?
In their FAQ they say, "As a result of available federal net operating loss carryforwards, MIC does not expect to make regular federal tax payments until 2016." Any concern what happens when their carryforwards run out? I'm not saying it's bad, I'm just saying I don't know. Paying no taxes is prety sweet... ...for now.
Also, they're part of this gigantic Aussie MacQuarrie thing. Back up a few slashes on the URL. What do they do, drop down stuff to MIC? Who's really in control?
I got some GLOG today. Doubled down, really, as I already had a little. I know you like that GLOP distn, but GLOG gets the IDRs. Same ol discussion. Maybe I'll get some GLOP, too, sometime.
Are you adding to NTI? Down about 6%, and I see no reason why. Sure Brent's down, but wti's down more, and so I'm sure is whatever they're paying for crude up in your neck of the woods. Plus they own a bakery.
ok, but GLOG has nothing to do with john boy, nor has it been a winner. So it must be your guilt-by-association theory, #2 -- "broad selling in the entire energy complex". I wouldn't buy GLNG here either because of JF anger, but GLOG seems like a buy. It is being hit as if it were an upstream oil co, when it's a "maritime pipeline"!
Keebon, or anyone, do you have an opinion about what's going on with CPLP? It's in a downtrend, and I guess it has to do with oil, but why should transportation of oil suffer due to low oil prices? And today, oil is up sharply, and CPLP is down a bit.
(Sorry to be OT on this OT. I'm OT**2.)
Oh. Yuck. You're right. The table showing each etf and various information is partly covered up on the right hand side by a column with an ad, links to other articles, and a poll. You can't read the right-most columns of the table. However, I think that is a programming mess-up by yahoo, not Apple. These days, anyone creating a web page has to program it such that it looks ok no matter what device and os is used to view it. I rather suspect yahoo than apple. Could be wrong.
Don't really know what you mean, Ed. I use safari on an iPad and pages look the same as when I view them on a laptop running chrome. Also, i don't think Apple is placing ads, but rather the owner of the various web sites. Wish I could see your screen -- something's not right.
It is true that Apple does not support Adobe Flash player. The better Google charts use flash. Steve Jobs thought that flash was a memory and power hog, and would not include it, and apple still doesn't support it.
Mark, did you hang on to CMLP all this time? People are turning bullish at very long last (almost gave up myself...). Coverage 1, and an upgrade.