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Albert Alfonso

 
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  • Penn West: Expect Little Growth Until 2016 [View article]
    PBA is a good pick. Still kicking myself for not buying it last year at under $30. I used to be long that stock via my old (PVX) shares.
    Mar 7 04:56 PM | 1 Like Like |Link to Comment
  • What's Wrong With Prospect Capital? [View article]
    Dee N,

    While it may seem corny, Disney (DIS) is a great long-term pick for kids.
    Mar 7 04:28 PM | Likes Like |Link to Comment
  • QR Energy: The Buyout Of The General Partner Is A Big Deal [View article]
    One or two acquisitions from the GP should push the coverage ratio above 1.15x.
    Let us hope that the unit price can finally break out of its long-term trend of 17ish to 18ish. Any deals will need to be funded via equity and a higher unit price will help.
    Mar 7 12:31 PM | Likes Like |Link to Comment
  • Pengrowth Energy: Buy The Dip [View article]
    COP is a part as well. Have held it since 2011.
    Mar 7 10:58 AM | Likes Like |Link to Comment
  • What's Wrong With Prospect Capital? [View article]
    I agree. However, you need to leave some mystery for the reader to have them click on an article. :)
    Mar 6 01:39 PM | 6 Likes Like |Link to Comment
  • What's Wrong With Prospect Capital? [View article]
    From reading that article it seems as if many of the points made were more relevant back in 2009 than today.

    PSEC does provide more loans to its portfolio companies, oftentimes to payoff expiring debt. And yes, PSEC does sometimes need to write down debt. That is just the nature of the beast.

    However, the simple fact on PSEC is that it has not had a loan go on non-accrual status in 6 years.
    Mar 6 01:37 PM | 5 Likes Like |Link to Comment
  • What's Wrong With Prospect Capital? [View article]
    PSEC is one of the few BDCs that has the liquidity to be mostly immune to the changes. Some of the smaller ones are down 10 to 15%.
    Mar 6 01:18 PM | 1 Like Like |Link to Comment
  • QR Energy: The Buyout Of The General Partner Is A Big Deal [View article]
    Pablomike,

    The GP would have been entitled to similar IDR payments for 2013 and 2014.
    Mar 6 01:25 AM | 1 Like Like |Link to Comment
  • Pengrowth Energy: Buy The Dip [View article]
    Ahh, the other Galicia!

    As for highest conviction, PGH takes the cake. This is mostly due to its yield and discount to NAV. However, as seen this week, it is also very high risk.

    For my low risk energy position play, I like Phillips 66 (PSX). It is cheap and offers growth via its refineries, chemicals, and midstream segments. Only downside is the dividend. However, this is mostly a function of its performance. It is up well over 100% since its spinoff from COP and my yield on cost is actually over 5%.
    Mar 6 01:11 AM | Likes Like |Link to Comment
  • Pengrowth Energy: Buy The Dip [View article]
    Galicia,

    PGH is a great buy in the low $6 range. NAV is above $11 (40% discount) and it offers a 7.0%ish yield.

    Assuming 1.00 on FFO for 2014, PGH trades at a 6.50x multiple, comparable to all of its Canadian peers save PWE. As noted in the article, FFO should increase 30% in 2015.

    BTW, is your name in reference to the Spanish region? Much of my family came from nearby Asturias.
    Mar 5 02:22 PM | Likes Like |Link to Comment
  • Pengrowth Energy: Buy The Dip [View article]
    PGH pays dividends so it has no issues being in an IRA.
    Mar 4 12:07 PM | Likes Like |Link to Comment
  • A Closer Look At Kinder Morgan's Response To Barron's [View article]
    Great comment Sumflow.

    I really need to provide an update regarding the KMR/KMP situation as there is lots of confusion on the matter.

    Just to add to the point:

    Cash saved via KMR share dividends is cash used to fund capex at KMP. This lowers the cost of capital on new projects while also reducing the return needed to make growth projects "accretive".
    Mar 3 09:22 PM | Likes Like |Link to Comment
  • Kinder Morgan: Why Barron's Is Wrong Regarding The CO2 Segment [View article]
    KM is not skimping on anything. They have above average safety ratings as well as below average incidents per mile on the pipelines.
    Mar 3 09:10 PM | 8 Likes Like |Link to Comment
  • Kinder Morgan: Why Barron's Is Wrong Regarding The CO2 Segment [View article]
    Hedgeye was successful with LINE with the following:

    Equity value of both LINE and LNCO fell after each hit piece

    The Berry merger was delayed for almost 9 months

    ...

    While I agree that the whole LINE issue was more smoke than fire, it did have an effect on the stock price. Holders of KMI/KMP need to know this and be ready for this long-term. Remember, short-sellers care little about the facts and all about the "trend".
    Mar 3 09:07 PM | 4 Likes Like |Link to Comment
  • War In Ukraine? Buy Canadian Small-Cap Oils [View article]
    A very thought provoking article.

    Ukraine controls the pipelines feeding Europe with Russia's natural gas. If hostilities escalate, these will be surely turned off.

    Now is the time for the Keystone pipeline and other energy infrastructure to be fast tracked. North America needs to become an net energy exporter if only to deny Russia from its near monopoly.
    Mar 3 06:43 AM | 5 Likes Like |Link to Comment
COMMENTS STATS
1,390 Comments
1,586 Likes