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Eagle Rock Energy Partners, L.P. Message Board

ringhofer2000 6 posts  |  Last Activity: Feb 26, 2015 8:23 AM Member since: Jan 23, 2006
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  • ringhofer2000 by ringhofer2000 Feb 26, 2015 8:23 AM Flag

    truly lousy earnings report, fall in NAV extremely disturbing. Hopefully all this has already been built into the stock price. Dividend declared looks imprudently high as an effort to prop up the stock price.

  • Reply to

    30 cents dividend; NII 0.35

    by thewisejman Feb 9, 2015 4:15 PM
    ringhofer2000 ringhofer2000 Feb 9, 2015 5:27 PM Flag

    key will be the details on the large net loss vs $.35/share in investment income. I assume it was a write-down in assets/investments due to the oil loans/investments. Question will be how much more can come. Obviously if oil recovers somewhat and their oil patch exposure continues to honor debt obligations there is tremendous upside. .

  • Reply to

    Tomorrow's Conf Call will help

    by bananabb Feb 4, 2015 4:40 PM
    ringhofer2000 ringhofer2000 Feb 4, 2015 5:24 PM Flag

    Stock is well below the NAV however mgmt will to explain the large loss in NAV over the quarter and address how much exposure the company has to oil and gas (including how much of the exposure is fist lien vs poorly secured). Investors will also need info on new investments and the yields vs cost of debt vs the spread between old investments and new ones - i.e. projected margin erosion.

  • ringhofer2000 by ringhofer2000 Jan 29, 2015 2:11 PM Flag

    Today a couple of big oil companies announced that they have cancelled a total of $20B in new capital projects for the next couple of years. Does anyone seriously believe sand companies can continue to grow? I realize these guys have some locked in contracts for the next couple of years. However, practice is that sellers will voluntarily permit volume reductions without penalty to protect clients and goodwill....not to mention protecting smaller heavily leveraged clients. Wait til there is a real buyers market for sand and watch prices plummet. Buying these stocks for today's dividend return is dangerous for the long haul.

  • ringhofer2000 by ringhofer2000 Jan 29, 2015 12:24 PM Flag

    Interesting to see what percentage of the outstanding float is held by people or institutions or insiders that want to hold as the stock runs vs percentage available held by traders who will sell to the shorts that need to cover in order to pick up a few percentage points.

  • ringhofer2000 by ringhofer2000 Dec 31, 2014 10:25 AM Flag

    as a former shareholder I continue to be amazed why anyone would want to own this at a price that is substantially over its net asset value. Even with today's large drop, it is still trading at a premium to its net asset value. There are many other comparable closed end funds owning similar assets and paying similar dividends that are trading 10% or so below net asset value. Anyone owning this that can provide a counter point of view would be welcomed. Thanks.

    Sentiment: Strong Sell

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