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Albert Alfonso  

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  • 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
  • An Impressive Quarter From The Monthly Dividend Company [View article]
    Steve Rasher,

    Lower prices are welcome for long-term holders. O already issued equity and locked in a low cost of capital. They are sandbagging the dividend. It should be higher.
    May 4, 2015. 06:33 AM | Likes Like |Link to Comment
  • An Impressive Quarter From The Monthly Dividend Company [View article]
    Rose,

    To think O is once again getting to the buy "zone" at the 5% yield mark. I wish I could deploy more capital to them, but need to wait for the ARCP story to play out first.
    May 4, 2015. 06:32 AM | Likes Like |Link to Comment
  • About Linn Energy's First Quarter [View article]
    Hi Casey,

    Good article. I agree with your view on debt and on Linn seeing improved cash flows short-term.

    However, the item from the CC regarding "debt for equity" was rather telling. I see no way LINE would dilute equity holders. LINE's NAV is somewhere around $20 per unit, ex debt. I think asset sales will be the way to go to lower debt coupled with incremental cash flows.
    May 4, 2015. 06:30 AM | 2 Likes Like |Link to Comment
  • Linn Energy - Weak Cash Flows Remain A Concern [View article]
    pmalter0,

    Hedges need to be converted into cash to boost DCF.

    During Q1, LINE saw $282M in cash settlements from hedges. This number was included in the "Net cash provided by operating activities" number. See page 5 from the presentation linked below.

    http://bit.ly/1JEttYw

    The other $424M are non-cash gains and should not be included for DCF purposes.
    Apr 30, 2015. 05:10 PM | 1 Like Like |Link to Comment
  • Linn Energy - Weak Cash Flows Remain A Concern [View article]
    robert,

    Thank you for your comment.

    As I am firmly "neutral" LINE, I will highlight both the good and the bad. Q1 2015 was a mixed bag, but the cash flow concerns are real.
    Apr 30, 2015. 04:55 PM | 3 Likes Like |Link to Comment
  • REITs can't catch a bid as averages slide [View news story]
    ARR is a joke. Worst managed mREIT ever. Sees constant BV declines, largely due to using too much leverage trying to maintain the dividend at all costs.
    Apr 30, 2015. 04:09 PM | 7 Likes Like |Link to Comment
  • CVR Partners: 2015 Is Looking Bright For This Fertilizer Play With Up To 60% Upside [View article]
    In addition, the distribution of $0.45 per unit would have been $0.50 er unit if not for a $3M reserve being held for Q3 2015. My estimate was for $0.49 per unit.
    Apr 30, 2015. 03:19 PM | Likes Like |Link to Comment
  • CVR Partners: 2015 Is Looking Bright For This Fertilizer Play With Up To 60% Upside [View article]
    This quarter went as expected. Not a big surprise as most of the revenues were already under contract. I think we would be up 10% vs 6% if it weren't a major down day.
    Apr 30, 2015. 03:13 PM | Likes Like |Link to Comment
  • Linn Energy - Weak Cash Flows Remain A Concern [View article]
    ziggyzig,

    You're going to see large impairment charges every quarter in 2015 as the reserves are slowly revalued to reflect current oil and gas prices.
    Apr 30, 2015. 03:03 PM | 1 Like Like |Link to Comment
COMMENTS STATS
2,482 Comments
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