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  • Niska Gas Storage Gets Cheap On Fears Of Boardwalk Pipeline Partners Repeat [View article]
    Look at their Quarter over Quarter Distributable Cash Flow and that should provide insight, along with managements comments about suspending the distribution

    http://bit.ly/1xeTlo6
    Nov 11, 2014. 08:17 AM | 1 Like Like |Link to Comment
  • Antero Midstream Partners IPO Offers Investors Long-Term 20% Income Growth With Low Risk [View article]
    Agree that valuation has not yet reached market equilibrium, which is likely lower, and in line with CONE, as we hit the intraday high early in the day. When Water is dropped, there will be a large equity raise which likely be a good entry point closer to $23/$24...PLR approval will be early warning
    Nov 5, 2014. 03:18 PM | Likes Like |Link to Comment
  • Antero Midstream Partners IPO Offers Investors Long-Term 20% Income Growth With Low Risk [View article]
    As expected, opened at $30 after pricing moved from $21 to $25 on strong demand. AM trading in line w Dominion Midstream's fundamentals
    Nov 5, 2014. 10:51 AM | Likes Like |Link to Comment
  • Antero Midstream Partners IPO Offers Investors Long-Term 20% Income Growth With Low Risk [View article]
    It was to price Wed, was moved to today for pricing (Tuesday) so will begin trading tomorrow (Wed).
    Nov 4, 2014. 10:08 AM | Likes Like |Link to Comment
  • Antero Midstream Partners IPO Offers Investors Long-Term 20% Income Growth With Low Risk [View article]
    Yes, it is disclosed in the S-1 and management informally comments about the EBITDA and potential transaction details in the roadshow

    http://bit.ly/10Q8kYf
    Nov 3, 2014. 10:44 PM | Likes Like |Link to Comment
  • Antero Midstream Partners IPO Offers Investors Long-Term 20% Income Growth With Low Risk [View article]
    CORRECTION: the IDR's are not owned by Antero Resources, but rather by a separate entity controlled by Management and Sponsor, which makes the drop down transaction price more complicated.
    Nov 3, 2014. 07:11 PM | 1 Like Like |Link to Comment
  • Antero Midstream Partners IPO Offers Investors Long-Term 20% Income Growth With Low Risk [View article]
    SHLX reset the high growth yield benchmark despite their midstream EBITDA inventory being less than their peers. We stand behind our expectations of secondary pricing and the indication that pricing moved forward a day further supports our view, which may or may not be attractive depending upon what happens after Water is dropped into the LP
    Nov 3, 2014. 06:16 PM | Likes Like |Link to Comment
  • Antero Midstream Partners IPO Offers Investors Long-Term 20% Income Growth With Low Risk [View article]
    Antero differs from CONE in the timing of the additional Water Resources drop and is more leveraged thus the larger equity raise
    Nov 3, 2014. 04:47 PM | Likes Like |Link to Comment
  • Antero Midstream Partners IPO Offers Investors Long-Term 20% Income Growth With Low Risk [View article]
    Quick update, pricing will occur Monday 11/3 and secondary trading Tuesday
    Nov 3, 2014. 01:34 PM | Likes Like |Link to Comment
  • Shell Midstream Partners Offers Investors 25% Total Return [View article]
    SHLX looks to open at 33 which is slightly above our estimate. If you have a wealth management relationship at one of the underwriters, you may get a 10-20% allocation on deals where there is strong institutional demand. If there is none of the latter, you will get 100% of the allocation and likely not be very happy.
    Oct 29, 2014. 09:46 AM | Likes Like |Link to Comment
  • Weekly Intelligence For MLP Investors [View article]
    Also consider the TSO (Tesoro) market move after the announcement relative to TLLP...the former rises on the expectation of future IDR payments and the latter drops.
    Oct 27, 2014. 09:27 PM | Likes Like |Link to Comment
  • Shell Midstream Partners Offers Investors 25% Total Return [View article]
    When considering peer group valuations, SHLX will have similar growth projects (20%+), similar coverage ratios, similar counterparty risks and a larger set of sponsor assets. We have seen this profile trade with a 1.75% yield when 10 year was as high as 2.75%, which would suggest a price of $34.00, or $30 at current peer group yields. There will be little selling upon secondary, so you may see units higher, depending upon whether new crude headlines deter unsophisticated investors.
    Oct 27, 2014. 04:12 PM | Likes Like |Link to Comment
  • Shell Midstream Partners Offers Investors 25% Total Return [View article]
    RDS holders are not receiving any interests in SHLX. The Sponsor, SPLC, creates the MLP structure, and then sells the assets to the MLP units holders. As an RDS owner, you benefit from the EBITDA multiple for the assets sold to the LP and the future IDR rights cash flows derived from the LP
    Oct 27, 2014. 04:05 PM | Likes Like |Link to Comment
  • Sell Now, Ask Later Provides Opportunity For Sand MLPs [View article]
    That is correct, a 9.52% QoQ distribution growth rate and double digit CAGR growth rates forward

    http://bit.ly/1sKj17H

    http://bit.ly/1sKj3fF
    Oct 21, 2014. 08:02 AM | Likes Like |Link to Comment
  • Dominion Midstream Partners, An MLP IPO With High Growth Opportunities [View article]
    DM should price this evening if market holds, still expect high range as CNNX holds premium, with secondary trading to begin Wed
    Oct 14, 2014. 11:34 AM | Likes Like |Link to Comment
COMMENTS STATS
144 Comments
212 Likes