Daniel R Moore
Long only, portfolio strategy, value, research analyst

ECA Marcellus Trust I - Value Play Or Value Trap?

In April of 2014, I published an article entitled ECA Marcellus Trust I - Still an Expensive Natural Gas Play. At the time the ECA Marcellus Trust (NYSE:ECT) units were trading at $8.75. At the end of August 2014 the units were trading around $6.60. Since the Trust units have made an adjustment downward in relative value, prospective investors now need to evaluate whether the Trust is a value play, or still holds risk which should be avoided. In this article, I share a perspective on my opinion about the fair market value of the Trust and the risks now facing the Trust.

Distributions Gap Downward Post Hedge Expiration

For the 2nd quarter of 2014 the ECA...

Join Seeking Alpha PRO to read this archived article and 11,574 other archived articles
FREESA PRO MEMBERS
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