The pipeline underwent a "major internal inspection" in 2012 and again "a few weeks ago," though the latest results are not available, Plains said Wednesday. No problems were reported.
Goldman Sachs had a lot to say about all corners of the energy sector today in addition to the cut in its long-term oil price forecast, its Sell recommendations for oil majors BP, Statoil (NYSE:STO) and Chevron (NYSE:CVX), and its gloomy outlook for offshore drillers Transocean (NYSE:RIG), Diamond Offshore (NYSE:DO) and Atwood Oceanics (NYSE:ATW).
Goldman awards a Buy rating for Exxon Mobil (NYSE:XOM), "the only U.S. or European major that can generate sufficient free cash flow to cover its dividend near $60/bbl in 2016-17"; while the firm says other oil majors will be struggling to keep the dividend flat, XOM will be in a position to increase the dividend for the next several years.
Rules to owning MLPs:
1) Never sell a portion of your position. Sell it all or sell none of it. This is critical to 'release' your suspended passive losses (treated as ordinary not capital losses) that you want to offset your ordinary gain recapture (due to accelerated depreciation) and likely capital gains (due to your reduced basis created by prior losses (practically guaranteed) and distributions).
Your accountant is going to love you.
Sentiment: Strong Buy
I have held PAA since 2009. It hasn't done much since the 2:1 split.
Hope the div. hold. Looks like $51.60 is the resistance line. If it can get over that hump I think it will Keep on going North.
Great advice. True, better then banks and CD's.
Only trouble is I constantly watch my portfolio, but have held onto all the oils and mlp's.
Q1 operating income of $827M or $2.53 per share vs. $1.052B and $2.95 one year ago. Net written premiums of $5.897B flat. Operating ROE of 14.5% falls 330 basis points.
Quarterly dividend is boosted by 11% to $0.61 per share, and another $5B of buybacks is authorized.
Adjusted book value per share of $71.45 up 5% Y/Y.
Underlying combined ratio of 90.3% deteriorates from 88.2% a year ago.
Underwriting gain of $620M vs. $791M a year ago. Net investment income of $592M vs. $736M.
Conference call at 9 ET
Sentiment: Strong Buy
The big ??? after the BG purchase is will they maintain the dividend.
BG is going to add an addition $18B to the payout.
2015 looks safe but 2016 looks questionable.
Price & Volume (as of 04/09/15)
52 Week High (9/2/14)
52 Week Low (1/13/15)
Market Cap (M)
Key Ratios (as of 04/09/15)
This is my MLP's nightmare!