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Ron Hiram  

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  • A Closer Look At Regency Energy Partners' Distributable Cash Flow As Of Q4 2012 [View article]
    Wish I had the time to cover more.
    Apr 21, 2013. 09:34 PM | Likes Like |Link to Comment
  • Preliminary Look At 1Q 2013 Distributable Cash Flow Generated By El Paso Pipeline Partners [View article]
    I looked it up and agree with some, but not all, their points. In the case of EPD, they base their calculations on 2012 gross capital expenditures, ignoring $1.2B generated via asset sales. I disagree with that approach. See http://bit.ly/13pGayu
    Apr 21, 2013. 09:31 PM | 1 Like Like |Link to Comment
  • A Closer Look At Buckeye Partners' Distributable Cash Flow As Of 4Q 2012 [View article]
    Based on my analysis, I became uncomfortable and, as detailed in prior reports, began reducing my position a while back. The balance left over is quite small. I redeployed the capital into EPD.
    Apr 21, 2013. 01:08 PM | Likes Like |Link to Comment
  • A Closer Look At Magellan Midstream Partners' Distributable Cash Flow As Of 4Q 2012 [View article]
    You get taxed on your pro-rata portion of the MLP's income, not on the distributions. An MLP's income is typically less than its distributions, primarily because of depreciation deductions, so in effect the distributions are tax deferred. Distributions decrease your basis, so when you ultimately dispose of the investment your tax bill is higher (i.e., the tax deferred distributions are recaptured). If limited partners receive distributions equal to their share of net income, there is no tax deferral and consequently also no tax recapture in the future.
    DCF that is not distributed can be distributed in future years. But MLPs are typically required to distribute the bulk of the cas flow available for distributions.
    Apr 7, 2013. 03:29 PM | Likes Like |Link to Comment
  • A Closer Look At Boardwalk Pipeline Partners' Distributable Cash Flow As Of 4Q 2012 [View article]
    At this point I am not increasing my exposure to MLPs.
    Mar 28, 2013. 01:34 PM | Likes Like |Link to Comment
  • Issues Raised By Energy Transfer Partners' Acquisition Of 60% Of ETP Holdco [View article]
    I made corrections to this 3/22 article. See piece published today.
    Mar 25, 2013. 09:42 AM | Likes Like |Link to Comment
  • Issues Raised By Energy Transfer Partners' Acquisition Of 60% Of ETP Holdco [View article]
    I made corrections to this article in a piece published 3/25..
    Mar 25, 2013. 09:41 AM | Likes Like |Link to Comment
  • Issues Raised By Energy Transfer Partners' Acquisition Of 60% Of ETP Holdco [View article]
    I made corrections to this 3/22 article in a piece published today.
    Mar 25, 2013. 09:39 AM | Likes Like |Link to Comment
  • Issues Raised By Energy Transfer Partners' Acquisition Of 60% Of ETP Holdco [View article]
    I made corrections to this article. See piece publsihed today.
    Mar 25, 2013. 09:38 AM | Likes Like |Link to Comment
  • Issues Raised By Energy Transfer Partners' Acquisition Of 60% Of ETP Holdco [View article]
    I made corrections to this 3/22 article. See piece that was published today.
    Mar 25, 2013. 09:36 AM | Likes Like |Link to Comment
  • Issues Raised By Energy Transfer Partners' Acquisition Of 60% Of ETP Holdco [View article]
    I amde corrections to this 3/22 article. See article published today.
    Mar 25, 2013. 09:35 AM | Likes Like |Link to Comment
  • Issues Raised By Energy Transfer Partners' Acquisition Of 60% Of ETP Holdco [View article]
    I made corrections to this 3/22 article. See article published today.
    Mar 25, 2013. 09:35 AM | Likes Like |Link to Comment
  • Issues Raised By Energy Transfer Partners' Acquisition Of 60% Of ETP Holdco [View article]
    Corrections were made to this 3/22 article. See article publsihed today.
    Mar 25, 2013. 09:34 AM | Likes Like |Link to Comment
  • Issues Raised By Energy Transfer Partners' Acquisition Of 60% Of ETP Holdco [View article]
    Corrections to this 3/22 article published 3/25. See article publsihed today.
    Mar 25, 2013. 09:34 AM | Likes Like |Link to Comment
  • Issues Raised By Energy Transfer Partners' Acquisition Of 60% Of ETP Holdco [View article]
    Corrections to this 3/22 article published 3/25. See today's article
    Mar 25, 2013. 09:33 AM | Likes Like |Link to Comment
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