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  • Electric Utilities: To REIT Or Not To REIT [View article]
    Knox,

    Thanks for reading and posting your comments. Interesting opinion concerning spinning off legacy assets. I agree there is a huge uncertainty as to the treatment of REIT assets by regulators. Glad you found the article worth your time and interest.
    Aug 16, 2015. 07:32 PM | Likes Like |Link to Comment
  • Electric Utilities: To REIT Or Not To REIT [View article]
    hayekfan,

    Thanks for your kind words. Only 244 more days until the Stanley Cup Playoffs begin
    Aug 13, 2015. 12:38 PM | Likes Like |Link to Comment
  • Electric Utilities: To REIT Or Not To REIT [View article]
    T4Y,

    Thanks for reading and posting your comments. I agree the nat gas industry has figured out a means of unlocking shareholder value with MLP conversions and drop downs. I figure this may be the avenue taken in the future, but instead of a MLP, the entities would be REITs.
    Aug 13, 2015. 12:28 PM | Likes Like |Link to Comment
  • Electric Utilities: To REIT Or Not To REIT [View article]
    user,

    I stand corrected. CNP's market cap is $8.3 bil, which would make their 3500 miles of transmission lines worth about 15% of its total mc. Thanks for picking up this error.
    Aug 12, 2015. 12:25 PM | Likes Like |Link to Comment
  • Electric Utilities: To REIT Or Not To REIT [View article]
    db,

    Thanks for reading and posting your commments
    Aug 12, 2015. 12:24 PM | Likes Like |Link to Comment
  • Electric Utilities: To REIT Or Not To REIT [View article]
    Rose

    Thanks for reading and posting your comments.
    Aug 11, 2015. 05:50 PM | Likes Like |Link to Comment
  • Does Gas Utility Firm Spectra Energy Really Yield 5%? [View article]
    Netwall,

    I concur with UP's comments, I don't follow those two and would prefer not to comment.
    Aug 8, 2015. 10:55 AM | Likes Like |Link to Comment
  • Does Gas Utility Firm Spectra Energy Really Yield 5%? [View article]
    Rose,

    Thanks for reading and posting your comments. I agree with Emerald, SE is a bit complicated, and is why I offered the numbers based either SE owned or SEP/DPM owned. I would look at free cash flow. From M*, over the past 3-yrs SE generated $1.9 to $2.3 bil in annual ocf, spent $1 bil on dividends and $2 billion on cap ex. The shortfall was financed by equity raises and increase in debt.

    I find it intriguing SE and SEP are called out in Gabelli's Utility Fund GABUX qtr report as being involved with many of the key Northeast and East Coast pipeline projects.

    One of the interesting changes in the energy business is the concept of the drop down as a means of monetizing recently completed projects. SE has been aggressive with this model, paving the way for similar moves by Dominion and Dominion Midstream.
    Aug 5, 2015. 11:08 PM | 2 Likes Like |Link to Comment
  • Does Gas Utility Firm Spectra Energy Really Yield 5%? [View article]
    Butterfly,

    ThatsWACC allows for visitors to change the basic input numbers. When substituting SE's cost of debt at 4.65% for the 0% listed, WACC comes out at 6.05%.
    Aug 5, 2015. 10:51 PM | 1 Like Like |Link to Comment
  • Does Gas Utility Firm Spectra Energy Really Yield 5%? [View article]
    Butterfly,

    Thanks for pick up on that, as I did not.
    Aug 5, 2015. 05:23 PM | 1 Like Like |Link to Comment
  • Does Gas Utility Firm Spectra Energy Really Yield 5%? [View article]
    Thanks to all for reading and posting your comments. I am glad to see positive discussions concerning SE

    I think KMI and SE are very different investments and it is difficult to put them side by side for direct comparisons.

    One aspect is their respective Cost of Capital vs Return on Invested Capital. To me this is a very important calculation to determine if either earns their cost of capital, and it doe not look positive for either. SE does a bit better than KMI on this matrix:

    KMI 3-yr ROIC (Morningstar) 4.55%, 2.44%, 1.62%
    SE 3-yr ROIC (Morningstar) 6.74%, 6.71%, 6.97%

    KMI WACC (weighted average cost of capital) (thatswacc.com) 4.72%
    SE WACC 7.12%

    KMI Net ROIC Avg 3-yr: -1.45%
    SE Net ROIC Avg 3-yr: -0.33%

    FD: Long SE, SEP and KMI - for different reasons

    Note to UP, ck out ThatsWACC.com for WACC calculations. I use them as my source, but the ROIC number jumps around a bit from source to source. I find M* to be a bit lower ROIC than fastgraphs, but I like fastgraph's presentation better.
    Aug 5, 2015. 04:57 PM | 2 Likes Like |Link to Comment
  • CenterPoint Energy: The Sweet Spot For Dividend Growth Investors [View article]
    skip,

    Thanks for reading and posting your kind comments. Glad you found the article useful.
    Aug 3, 2015. 08:14 AM | 1 Like Like |Link to Comment
  • Don't Ignore The Weakness In Commodities [View article]
    johnny,

    EDV has an effective duration of 24.9. This means that for every 1% change in rates, EDV NAV should be expected to inversely change by 24.9%. So for every 1% increase in rates, EDV investors should expect a 24.9% decline in their NAV, and a 2% increase in rates would create a decline of almost 50%. Not a good holding if you think rates are on the way up. I prefer a ladder of BulletShares bond ETFs corporate and high yield with specific date maturities and low duration. More on duration can be found in an article from last July
    http://seekingalpha.co...
    Jul 24, 2015. 08:02 PM | 1 Like Like |Link to Comment
  • Don't Ignore The Weakness In Commodities [View article]
    David and Joker,

    You may want to research Treasury Direct where Uncle Sam sells bonds directly to retail investors. Bonds are sold in increments of $100 and are kept in electronic form rather than traditional paper issued bonds. One factor may be the ability to buy new positions in the dates/coupon already owned as this program is for newly issued bonds.

    http://1.usa.gov/1VFim6c
    Jul 24, 2015. 10:54 AM | 1 Like Like |Link to Comment
  • P&G accepts Coty's $12.5B merger offer [View news story]
    ri,

    "I don't know what you call the stuff they now call lemonade, but it sure ain't lemonade"

    To sell it to the new yuppie crowd, it is called NFL - Natural Faux Lemonade.

    I am surprised you did not roll-up your stand with other neighborhood money-losing stands, go public as a REIT and re-lease the city-owned strip of land between the sidewalk and the street where the stands reside. I am sure there would be a large interest among the uneducated on this high income and future dividend growth IPO. Just not sure how it would rate with Ms Nose's sure-footed investment criteria.
    Jul 9, 2015. 03:24 PM | 3 Likes Like |Link to Comment
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