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Albert Alfonso

 
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  • Kinder Morgan: The Good And The Bad Of Condensate Exports [View article]
    Mapodga,

    Very interesting read, thank you for the link.

    I might actually do a write up on VLO. Stock seems cheap due to the 15% pullback since May.
    Jul 8 02:10 AM | Likes Like |Link to Comment
  • Kinder Morgan: The Good And The Bad Of Condensate Exports [View article]
    hhmcdon,

    I hope you are right and I am wrong. However, unless a major E&P guarantees volumes, I doubt a new splitter project will be in the cards. Too much risk and uncertainty.
    Jul 7 02:58 PM | Likes Like |Link to Comment
  • Kinder Morgan: The Good And The Bad Of Condensate Exports [View article]
    R. Fitz,

    I believe the partnership which initially formed the "core" of KMP in Enron is from the late 80s, early 90s.
    Jul 7 02:27 PM | Likes Like |Link to Comment
  • Kinder Morgan: The Good And The Bad Of Condensate Exports [View article]
    Frac,

    I was actually thinking of Texas (and the Eagle Ford) specifically when I wrote that. Will be corrected soon.
    Jul 7 01:23 PM | Likes Like |Link to Comment
  • Linn Energy: Who Got The Better Deal? [View article]
    NYC,

    Hopefully my readers picked up on the desperation coming from Hedgeye.

    They made the wrong call and are trying to justify their short. The market seems to disagree with them with LINE/LNCO up over 10% over the past few weeks.
    Jul 3 11:03 AM | 5 Likes Like |Link to Comment
  • Linn Energy: Who Got The Better Deal? [View article]
    RIP,

    I agree on your point in regards to the Granite Wash assets.

    I really hope that the company does not need to do any equity/debt offerings to fund this purchase. The unit price, while mostly recovered, is still down from its 2013 highs. Lots of unitholders are still underwater.
    Jul 3 10:49 AM | 1 Like Like |Link to Comment
  • Prospect Capital: Can The Rally Continue? [View article]
    Bekster,

    Regarding the ATM:

    The company stated so publicly via a recent webcast.
    Jul 2 03:49 PM | 2 Likes Like |Link to Comment
  • Philip Morris: Buy The Dip? [View article]
    Buy and hold,

    Long-term investing is a sound strategy. Much like you, I tend to never sell my core holdings. However, why not buy dips when they occur? You get to lower your cost basis and reap the benefits of market inefficiencies.
    Jul 2 10:43 AM | Likes Like |Link to Comment
  • Philip Morris: Buy The Dip? [View article]
    maybenot,

    The company has sent out mixed signals in regard to the dividend increase. What is more important, the payout ratio or maintaining an adequate dividend growth rate?

    As you noted, WMT, INTC, and others dividend-growth champs have surprised to the downside. I am setting my exceptions low and hopefully will get surprised.

    edit: I am long INTC, WMT
    Jul 2 09:31 AM | Likes Like |Link to Comment
  • Philip Morris: Buy The Dip? [View article]
    tomlos,

    I am also full on PM/MO. I might make an exception if the stock heads into the $70s.

    It is rather crazy to me that PM might soon trade at a higher yield than MO.
    Jul 1 11:15 PM | 2 Likes Like |Link to Comment
  • Philip Morris: Buy The Dip? [View article]
    Matthew,

    I found it interesting that the company has reaffirmed the 65% payout ratio. Is it a LT goal for a number they just put out there?

    I know with INTC they have the dividend pegged to 40% of FCF and as a result the dividend was frozen for 2013/2014.
    Jul 1 11:12 PM | Likes Like |Link to Comment
  • Linn Energy Strikes A Deal With Devon [View article]
    Pablo,

    LINE would be reinvesting the Granite Wash proceeds into a similar business, hence qualifying for the deferred tax benefits of the 1031 exchange.
    Jul 1 09:49 AM | 2 Likes Like |Link to Comment
  • Linn Energy Strikes A Deal With Devon [View article]
    Chancer,

    Upstream MLPs such as LINE typically do not try to time the markets. Due to aggressive use of hedges, they tend to grow regardless of the pricing environment.

    I agree that some E&P's look at the sector as a source of funding to unload older production. However, due to an income focused investor base, their cost of capital is lower than it would otherwise be. As long as it is accretive, upstream MLPs will tend to pull the trigger.
    Jul 1 09:44 AM | 3 Likes Like |Link to Comment
  • Linn Energy Strikes A Deal With Devon [View article]
    CF,

    Thanks for the comment.

    Temporary debt hopefully does not need to become long-term debt. Not sure how the market will react to a LNCO/LINE equity or debt offering.

    From my viewpoint, LINE seems to be refocusing its portfolio towards mature natural gas properties and away from capex heavy liquids. In short, this will secure the distribution short to medium term at the expense of long-term growth potential.
    Jul 1 09:22 AM | 2 Likes Like |Link to Comment
  • Linn Energy Strikes A Deal With Devon [View article]
    The wording in the release is unclear. However, it appears as if LINE will simply use the proceeds from a Granite Wash sale towards paying down the debt involved with the Devon deal.
    Jul 1 09:18 AM | 2 Likes Like |Link to Comment
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