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Clayton Rulli

 
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  • Rose Rock Midstream: A Buy High, Sell Higher MLP With 54% Crude EBITDA
    Fri, Aug. 15 EPD, KMP, SEMG 3 Comments

    Summary

    • Rose Rock Midstream MLP recently announced a 2014 distribution growth rate of 25%.
    • Management intends to keep the distribution coverage ratio at 1.1x-1.2x.
    • New GP drop downs will drive growth despite IDRs reaching higher tiers.
  • Kinder Morgan: Mexican Demand Is 'Locked In' With New Contracts
    Fri, Aug. 8 KMP 36 Comments

    Summary

    • Mexican natural gas demand is expected to increase at a CAGR of 8% over the next 10 years.
    • Finally EPNG is delivering via the Sierrita Pipeline connection to Mexican networks, andadditional expansions are expected for years to come.
    • New contracts with CFE, the Mexican entity controlling electric power, offer big growth prospects and highly visable expansions going forward.
  • Examining Cheniere's CEO Compensation: Is It Deserved?
    Thu, Aug. 7 LNG 11 Comments

    Summary

    • Cheniere Energy's CEO Charif Souki was the highest paid in 2013.
    • Owning 6,210,445 shares of the company’s stock, valued at approximately $439,388,984, some investors are hate mongering.
    • Investors should realize the impressive job Souki has done, and consider his performance as CEO and co-founder when considering his compensation.
  • Cheniere Energy's Sabine Is Primed With Contracts And Midstream Infrastructure
    Tue, Aug. 5 ETP, SEP, KMI 21 Comments

    Summary

    • Cheniere will have the first fully-operational LNG export facility in the US, with 88% of volumes contracted on 20-year deals. Facility is approved for 2.8 Bcf/d.
    • Cheniere Energy's multiple export LNG facilities continue to secure long-term volume contracts.
    • Sabine's Creole Trail Pipeline already connects to 6 major pipeline networks, and is a fantastic feed to the facility.
  • Kinder Morgan: The Naysayers Are Barking At Shadows
    Tue, Jul. 22 KMI, KMP 76 Comments

    Summary

    • This article seeks to illuminate investors about Kinder Morgan's financials.
    • DCF metrics fluctuate by quarter due to seasonality and are predictable every year. KMP is on track to have positive DCF coverage for full year 2014.
    • A moderate increase in interest rates will be more than offset by growth prospects and fee increases.
  • Republic First Bancorp Inc.: 64% Growth Led By A Banking Legend
       • Wed, May. 14 TD, FRBK 15 Comments

    Summary

    • Republic First Bancorp is all that's remaining of TD's acquisition of Commerce and has been floundering ever since the financial crisis.
    • Vernon Hill, a banking genius with a history of success, is backing FRBK with 10% ownership.
    • Vernon Hill's former team from Commerce Bank is leading expansion plans which seek to mirror Hill's proven philosophies used in prior successful ventures, Commerce Bank and UK's Metro Bank.
    • FRBK recently raised $45 M to fund a New Jersey expansion of about 9 stores, a strategy that will increase store count and thus deposit base by 64%.
  • SandRidge Energy: Still On Track Despite A Harsh Winter
    Sun, May. 11 SD 15 Comments

    Summary

    • SandRidge’s Mid-Continent production declined 2% for the Q1 2014 period, but this is mostly due to very harsh weather conditions in the period.
    • This was the 12th coldest winter on record and the prolonged freezing temperatures created disruptions in well development.
    • Management reaffirmed 2014 guidance and a 20%-25% CAGR through 2016.
  • SandRidge Energy: Hidden Value & Growth Are Underestimated
       • Tue, Apr. 22 SD 48 Comments

    Summary

    • SandRidge Energy may not be worth the entire farm, but there is plenty reason to be long.
    • New management has been and will continue to cut well costs, while increasing production at a 20%-25% CAGR through 2016.
    • SandRidge's proposed midstream spin-off is worth over $1 B to the MLP market, and could be a big catalyst to unlocking value.
  • Magnum Hunter's Eureka Pipeline: A Fantastic Asset Fairly Valued
    Tue, Apr. 22 MHR 25 Comments

    Summary

    • Magnum Hunter's Eureka Pipeline System connects the Utica and Marcelus to prime interstate connections and processing plants.
    • Eureka Hunter is expected to increase throughput volumes 5 fold by YE 2018.
    • MHR management is fully valuing Eureka's $17.1 M FY 2013 EBITDA with a ~50x midpoint multiple.
  • Are You Distracted By The Noise? 'Pop Your Collars' And Buy The Dips
    Thu, Apr. 17 CELG, CERN, MU 3 Comments

    Summary

    • "Experts" are saying the sell in May theory has come early for 2014, but I say it's a reasonable time to buy for the long haul for certain stocks.
    • Some high beta stocks have fallen 10-15% and can be considered buying opportunities.
    • After you "pop your collar" and ignore the noise, getting long companies immune to headline worries could be a good bet.
  • Cerner Corp.: Harnessing Healthcare IT Growth And ACA's Push For Efficiency
    Fri, Apr. 11 CERN 6 Comments

    Summary

    • Cerner will continue to benefit from hospitals updating EMR systems and conducting acquisitions driven by Obamacare's Medicare updates, as well as industry-wide M&A activity.
    • Cerner was recently added to Morgan Stanley's "takeover radar" and initiated at Buy by Citibank.
    • Cerner is the leader in Healthcare technology, has solid financials and growth rates, an increasing backlog of $8.9 B, and a record $3.7 B in new bookings.
  • Oil And Gas Equipment And Services ETF: Load Your Shotgun And Open Fire
    Mon, Apr. 7 OIH, XES, IEZ 2 Comments

    Summary

    • The XES ETF is exposed to 49 different companies with relatively equal exposure, for the same fees as the OIH.
    • The OIH is less diversified and very top heavy in the largest names in the sector, which may be disadvantageous versus the XES.
    • Dan Dicker, TheStreet.com's energy expert, favors the XES ETF over the classic OIH ETF, and so do I.
  • Celgene In Mylan's Cross-Hairs: "I'm Shakin' In My Boots"... Well, Maybe A Little
    Mon, Apr. 7 MYL, CELG 12 Comments

    Summary

    • Mylan, the #1 US generic drug maker, has Celgene in its cross-hairs, and CELG investors are scurrying.
    • Mylan's actions are understandable, but success is questionable given its "litigious" history and the very nature of the business model.
    • Regardless of lawsuit outcomes, investors should invest cautiously and respect the stock's high-risk/high-reward profile.
  • The Market Is Selling Celgene; I'm A Buyer
    Mon, Mar. 24 CELG 17 Comments

    Summary

    • Valuation: P/E Ratio is below industry peers and long-term CELG specific averages, supported by a strong share buyback and balance sheet.
    • Product Pipeline: Numerous drugs in the pipeline will drive growth.
    • Catalysts/Timing: Apremilast's very recent approval fell on deaf ears, and fourteen 2014 clinical trials/FDA reviews serve as catalysts.
  • Is Rosetta Resources Ready To Bloom?
    Dec. 2, 2013 ROSE 11 Comments
  • ACAS Is On Cruise Control
    Dec. 1, 2013 ACAS 19 Comments
  • Crown Castle Is Smart For Acquiring AT&T's Towers
    Nov. 5, 2013 CCI, T 13 Comments
  • Why Mobile Monetization Is So Critical For Facebook
    Nov. 4, 2013 FB 17 Comments
  • What Do Apple's iRadio Numbers Mean To Pandora?
    Oct. 24, 2013 AAPL, P 36 Comments
  • Energy Transfer Equity Vs. Kinder Morgan Inc.: An MLP GP Showdown Part 1
    Oct. 21, 2013 ETP, KMP, ETE 15 Comments
  • Investing In Kinder Morgan Inc: The Positives Outweigh The Risks
    Oct. 13, 2013 EPB, KMP, KMI 24 Comments
  • Enterprise Products Partners: The Power Of DRIP
    Sep. 5, 2013 EPD 29 Comments
  • Sanchez Energy: The Secret Is Out, But I'm Still Long
    Sep. 1, 2013 SN 9 Comments
  • Enterprise Products Partners: Huge Project Pipeline Will Support Distribution Increases
    Aug. 27, 2013 APA, APC, DPM 23 Comments
  • Constellation Energy Partners: New Ownership Is Transformational
    Aug. 26, 2013 PSTR, SN, CEP 27 Comments
  • BP Offers Discount On NAV And Solid Yield
    Aug. 16, 2013 BP 22 Comments
  • Sandridge Energy: Do Efficiencies Finally Make It Attractive?
    Aug. 12, 2013 SD 27 Comments
  • General Electric's Aviation Division Is Just Lifting Off
    Aug. 12, 2013 GE, BA 22 Comments
  • New Jersey Resources: Cost Deferments And Rate Increases Offer Tailwinds For Growth
       • Aug. 9, 2013 NJR Comment!
  • Buy Kinder Morgan Inc. For Exposure To Both Kinder Morgan Partners And El Paso Pipeline Partners
    Aug. 6, 2013 EPB, KMP, KMI 42 Comments
  • General Electric's Hidden Gem Is Finally Gaining Respect
    Jul. 29, 2013 GE 46 Comments
  • Trinity Industries: This Railcar Supplier Is A Buy
    Jul. 29, 2013 TRN 29 Comments