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Albert Alfonso  

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  • Strong Hedges Protect Memorial Production Partners During A Volatile Quarter [View article]
    Griffin Mungus,

    Oil at $43 per bbl can do that. They also had some higher one-time costs (interest and G&A) which impacted the coverage ratio.
    May 6, 2015. 11:19 AM | Likes Like |Link to Comment
  • American Capital Agency: The Sky Is Not Falling [View article]
    tony8900,

    You would think the "debt-like" preferred stocks would get crushed if the common were having major problems. I think this tells us that the market is overreacting.
    May 6, 2015. 10:33 AM | 2 Likes Like |Link to Comment
  • Expect Hard Times 'Short Term' For Williams Companies [View article]
    Note sure If I agree on the pace of dividend growth. Assuming the $2.38 per share target is hit, the dividends in 2015 from Q1 to Q4 should be as follows $0.58, $0.59, $0.60, and $0.61. This comes out to exactly $2.38, In other words, from Q1 to Q4, the dividend would grow by 5.2%, not 2% as highlighted in this article.
    May 5, 2015. 07:48 AM | 2 Likes Like |Link to Comment
  • ARMOUR Residential REIT Is A Total Return Nightmare [View article]
    T-42,

    What is happening at ARR is not at all representative for the entire sector. I've owned plenty of other mREITs and they have given me positive returns for years. ARR is under-performing its peers by a country mile. They are the outlier, not the rule.
    May 5, 2015. 06:23 AM | 4 Likes Like |Link to Comment
  • Rough quarter for Javelin Mortgage [View news story]
    Wow, what a poor quarter. No redeeming qualities with this name. It sure tells you how a badly run mREIT performs in this market. Annualized total return for JMI in Q1: -9% Q/Q, compared to AGNC's +7%, a 16% spread.
    May 5, 2015. 12:02 AM | Likes Like |Link to Comment
  • ARMOUR Residential REIT Is A Total Return Nightmare [View article]
    Bob Baron,

    They are a money losing machine. Chart shows that they have not posted a positive return even over 5 years event WITH dividends.
    May 4, 2015. 11:49 PM | 1 Like Like |Link to Comment
  • ARMOUR Residential REIT Is A Total Return Nightmare [View article]
    KCCO,

    ARR posted horrible results. I see no reason to buy. So many other mREITs out there with much safer risk/rewards profiles.
    May 4, 2015. 11:47 PM | 1 Like Like |Link to Comment
  • Expect Strong Dividend Growth From Williams Companies [View article]
    royk01,

    You are right in theory, WMB is just another way to own WPZ. However, WMB is a dividend paying c-corp, not a MLP. This gives its certain tax characteristics which may make it more attractive for investors. Furthermore, WMB is projecting a faster dividend growth rate.
    May 4, 2015. 03:09 PM | 4 Likes Like |Link to Comment
  • About Linn Energy's First Quarter [View article]
    Rawenergy,

    By "2p reserves" I meant the total proved reserves. Typing fast does lead to more errors :)

    As for how to value LINE, I typically avoid giving estimates. I am a natural gas bull, but recognize that we will see $3 to $4 prices for years until new end-users emerge via exports/industry.

    LINE has a sky-high cost of capital and I am unsure at what oil/gas price they start to break-even. Nevertheless, most agree it is above $80 WTI. Furthermore, things get very complicated when you factor in the hedge book.
    May 4, 2015. 01:55 PM | 1 Like Like |Link to Comment
  • CVR Partners Has Plenty Of Room To Move Higher [View article]
    Chris,

    As noted in the article, Output pricing for Q2 is similar to Q1 levels. This is from the CC. They already sold most of the volumes last year. For Q3/Q4, that depends on import prices along the Gulf Coast. I expect a modest decline, but it is way too early to tell for sure.
    May 4, 2015. 01:31 PM | 3 Likes Like |Link to Comment
  • About Linn Energy's First Quarter [View article]
    My NAV number is a very rough ballpark and assumes ~$12.5 per BOE for the 2p reserves. Of course this number could be higher/lower depending on what discount is used.
    May 4, 2015. 12:30 PM | Likes Like |Link to Comment
  • Williams Partners: Growing Natural Gas Demand To Fuel Growth [View article]
    RLP,

    You do realized natural gas and NGL prices have been crushed? The old WPZ was much more sensitive to price moves as it had a large amount of NGL processing.

    I understand you feel short-changed. However, its sorta like former KMP/KMR owners complaining about KMI's lower dividend. Not Apples to Apples.
    May 4, 2015. 09:53 AM | 3 Likes Like |Link to Comment
  • Williams Partners: Growing Natural Gas Demand To Fuel Growth [View article]
    RLP,

    The current WPZ was the old ACMP. The old WPZ is no more. Tons of growth was added in the merger. I think the stock is stronger as a result.
    May 4, 2015. 09:46 AM | 7 Likes Like |Link to Comment
  • McDonald's lower after detailing turnaround strategy [View news story]
    We really needed more details. So far, all I see are Capital returns to increase, large cuts in G&A, and a new operating structure.
    May 4, 2015. 08:51 AM | Likes Like |Link to Comment
  • About Linn Energy's First Quarter [View article]
    RLP,

    That is so wasteful. Selling dollar bills for $0.50.
    May 4, 2015. 07:42 AM | 1 Like Like |Link to Comment
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