Seeking Alpha
  • Philip Trinder
    $NTI announces 10 million unit equity offering
    4/29/13
    Reply (26)
    • Marek Jankowski: lower distribution next quarter + insiders offering + possible stock correction = is $20 - $20.50 good entry in next few months?
      4/29/13
    • gman14: Philip, Do you know when the distribution will happen?
      4/29/13
    • Philip Trinder: Marek - a good $NTI entry price depends on relative value to $CVRR and $ALDW at the time so I can't pin it to a dollar price in advance
      4/29/13
    • Philip Trinder: gman14 - see page 11 of S-1 http://1.usa.gov/155gNan the section called "Distribution policy"
      4/29/13
    • taxman100: NT Holdings LLC owns about 2/3rds of the units as of April 26, a surprise they are selling? Selling opp. in the div. run-up in May.
      4/29/13
    • Philip Trinder: taxman100 I'm confused by your point, aren't insiders selling additional units right now in advance of any possible "div. run-up in May"?
      4/29/13
    • atlasman: $NTI - How will the proceeds be used?
      4/29/13
    • Philip Trinder: atlasman - See page 11 of S-1 http://1.usa.gov/155gNan the section called "Use of proceeds"
      4/29/13
    • jmacsol: Did the company announce what will be the distribution for Q1?
      4/29/13
    • Philip Trinder: They provided guidance of $1.15 to $1.25 in an 8-K last Friday night http://1.usa.gov/14WX9wV
      4/29/13
    • Marek Jankowski: Philip, in what price you see value in NTI (fundamentals, debt, PEG, future business expansion) regardless how ALDW and CVRR are trading?
      4/29/13
    • taxman100: Philip - what I was trying to say is I think there will be some upward momentum once the new dividend is officially dated.
      4/29/13
    • Philip Trinder: It's all relative and depends on crack spreads, outlook, etc., I run constant relative value analysis on MLPs http://bit.ly/12W62Du
      4/29/13
    • jmacsol: Did the company announce what will be the distribution for Q1?
      4/30/13
    • hanni_ali: of publicly owned stock, this will be unlikely to affect the distribution at all.
      4/30/13
    • hanni_ali: partnership) to most likely an institutional investor, i.e. no dilution, not proceeds etc. it is a transfer of ownership increasing the size
      4/30/13
    • hanni_ali: In response to a couple of the questions, note: this is a wholly underwritten offering; one institution is selling, NTH LLC (not NTI the
      4/30/13
    • Philip Trinder: taxman100 - Thanks for clarifying so you mean from a new investor perspective who buys the current offering and not the seller perspective
      4/30/13
    • Philip Trinder: jmacsol - click "View All Replies" and you can see the earlier response to your question
      4/30/13
    • Philip Trinder: hanni_ali is correct, selling unitholder doesn't change total units so distribution per unit will remain unchanged from their 1Q guidance
      4/30/13
    • jmacsol: Thanks Philip for the distribution info. My thought is that if they can keep up this payout, the unit price should soon return to ~$30
      4/30/13
    • Philip Trinder: jmacsol - what is your estimate for the rest of 2013 distributions? Do you anticipate them flat at $1.20 for each quarter?
      4/30/13
    • jmacsol: My guess is $0.80 for Q2, $1.20 for Q3 and $0.80 for Q4 (Two planned refinery shut downs). Crack spreads look strong and will drive profits
      4/30/13
    • gman14: Thanks Philip regarding the distribution question
      4/30/13
    • Philip Trinder: jmacsol thanks, so your estimated yield is ~15.1% at today's close / gman14 YW / underwriters have to love today's trading in $NTI
      4/30/13
    • quickcash: 2nd qtr to be down, I called company
      7/13/13