Douglas E. Johnston
Long/short equity, hedge fund manager

EV Energy Partners: The Price Is Finally Right

EV Energy Partners (NASDAQ:EVEP), an oil and gas MLP, has had a rocky road over the last year. After capitulating into the mid-40s last summer, as concerns over natural gas producers peaked, the units rocked back into the mid 60s by October as the optimism over their Ohio-Utica acreage soared. EVEP management added to the froth last year with hopes of $15,000 per acre and a deal in hand by year end. They own ~170k acres, mostly in the volatile-oil fairway, so this would have been a nice year-end bonus. When reality struck that a deal was not to be had so soon, management (and bullish investors) had to eat some humble pie with the realization that the...

Join Seeking Alpha PRO to read this archived article and 11,574 other archived articles
IDEA GENERATORXExclusive access to 10 PRO ideas every day
INVESTING IDEAS LIBRARYXExclusive access to PRO library of more than 15,000 ideas
SECTOR EXPERT NETWORKXExclusive access to all sector experts for direct consultation
PERFORMANCE TRACKINGXTrack performance of all PRO stock ideas
PROFESSIONAL TOOLSXProfessional Idea Filters to zero-in based on industry, market cap and more
"In just the first month of using PRO, I used it to generate two ideas which were actionable for me. As a result of these two positions, I have earned more than 20 times the annual subscription costs for PRO."Michael Yagemann, Greenbridge Capital
"I am pleasantly surprised with the scope of small and mid-cap coverage PRO offers. You can't find that any where else."Patrick Rice, Mainstay Capital Management
You may cancel at any time for any reason, and receive a prompt refund for membership on months paid and not used (max. 6 months). Details