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Albert Alfonso

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  • Linn Energy Just Can't Catch A Break [View article]
    Howard Weil and JPM are basically in locked-step with there LINE calls.

    The company really needs to do something to increase DCF this year.
    Mar 24 01:26 PM | 4 Likes Like |Link to Comment
  • Linn Energy Just Can't Catch A Break [View article]
    A dividend needs growing cash flows in order to make a stock compelling...
    Mar 24 01:17 PM | 5 Likes Like |Link to Comment
  • Linn Energy Just Can't Catch A Break [View article]
    The projected 2014 DCF ratio is way too tight for comfort IMO. LINE had to up its offer for Berry by 30% to make the deal work. As a result, the transaction has had no accretive effect.
    Mar 24 01:16 PM | 3 Likes Like |Link to Comment
  • Linn Energy Just Can't Catch A Break [View article]
    I would argue Hedgeye/Barron's had much more of an impact on LINE than the SEC.
    Mar 24 01:14 PM | 12 Likes Like |Link to Comment
  • Linn Energy Just Can't Catch A Break [View article]
    The Bloomberg piece seemed to be more aimed at the midstream MLPs. However, LINE was lumped in there as well, likely due to its notoriety.

    What is quite sad is that Bloomberg basically tried to equate BWP with the other pipeline MLPs. Unlike what was implied in the article, NOBODY saw BWP lowering the dividend 80%. There is a reason why the stock fell 50% in one day...
    Mar 24 01:13 PM | 5 Likes Like |Link to Comment
  • American Capital Agency Corp.: The Dividend Now Looks Quite Sustainable [View article]
    goldenbear65,

    I do apologize for the confusion. Perhaps my title should have added "short-term" to make it more inline with my thoughts.

    "Sustainable" has no implication on the long-term aspect of the dividend, but rather deals with if the company is generating enough income to maintain the dividend at the current level.

    AGNC obviously generated enough income over the past 3 months to maintain the dividend at $0.65 for the quarter. I think we will see this reflected in the Q1 report.

    For Q2, things are looking bright given that the company is not selling its MBS portfolio to buy back stock.
    Mar 22 05:35 PM | Likes Like |Link to Comment
  • American Capital Agency Corp.: The Dividend Now Looks Quite Sustainable [View article]
    wriskit,

    We will not know AGNC's net spread or net interest income until the Q1 report. However, assuming the company has not reduced its exposure to MBS, it should be generating similar income compared to Q4 2013.

    As for my comment regarding the dividend: forecasting mREITs dividends out more than a few months is nearly impossible. I am just making sure readers know that the quarterly dividend can and does change greatly. Remember it was at $1.25 only one year ago...
    Mar 21 08:37 PM | Likes Like |Link to Comment
  • Will General Electric Face Activist Pressure? [View article]
    The typos should now be fixed. Thanks for the heads up.
    Mar 21 10:44 AM | Likes Like |Link to Comment
  • Will General Electric Face Activist Pressure? [View article]
    GE's adventure into finance was profitable up until it was not. In about 18 months, GE Capital loss nearly a decade's worth of earnings. While this can be partly blamed on excessive risk taking, it was also a function of greed.

    I am wondering what multiple the market will apply to the 20% of Synchrony Financial being offered. The company is a cash cow and has largely cleaned itself up.
    Mar 21 10:43 AM | 1 Like Like |Link to Comment
  • Penn West: Expect Little Growth Until 2016 [View article]
    Not to burst any bubbles, however, Canadian natural gas is often priced at a large discount to Henry hub. We will need to see forward prices improve to above AECO $4.50 before PWE or any other producer in Alberta can consider boosting production.
    Mar 21 10:23 AM | 1 Like Like |Link to Comment
  • A Few Reasons Why I'm Staying Long Vanguard Natural Resources [View article]
    I really cannot understand an article on MLPs that tries to factor in meaningless stats such as P/E ratios. DCF is the way to go.

    Also, there seems to be something missing from this section:

    "When it comes to Vanguard's most recent distribution behavior, it should be noted that since converting to a monthly distribution payout in August 2012, VNR has demonstrated a distribution 3.85%."

    Are you referring to the distribution growth rate? Also, why not include the recent increase to $0.21 per month. It was announced with the Q4 results and declared on Monday.
    Mar 19 12:42 AM | 2 Likes Like |Link to Comment
  • Vanguard Natural Resources: Dividend Hikes Are Always Welcomed [View article]
    RLP,

    I really do not want to open up the can of worms that is MLPs in IRAs. I do know that many have owned MLPs in IRAs for years and have had zero issues. This is a complicated matter and may warrant a CPA's advise.

    As for me, I personally own my MLPs and LLCs in a taxable account and use the IRA for dividend-growth stocks. Better safe than sorry IMO.
    Mar 18 12:56 PM | 4 Likes Like |Link to Comment
  • Vanguard Natural Resources: Dividend Hikes Are Always Welcomed [View article]
    Ralph,

    I think most income investors would trade 100 BPs of yield for the "safety" of owning the preferred. While you are limiting your upside, you'll be paid in nearly all scenarios besides a BK.
    Mar 18 12:50 PM | Likes Like |Link to Comment
  • Vanguard Natural Resources: Dividend Hikes Are Always Welcomed [View article]
    Jaber,

    This information can be easily found on the prospectus.

    As far as I am aware, VNR is the only upstream MLP to issue preferred units.
    Mar 18 12:46 PM | Likes Like |Link to Comment
  • Vanguard Natural Resources: Dividend Hikes Are Always Welcomed [View article]
    Bill,

    Are you referring to PGH? Not much news is out to warrant an article or even an update. The recent price action seems to be more related to the trend and some weakness in the Loonie.
    Mar 18 12:39 PM | Likes Like |Link to Comment
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