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Ron Hiram

 
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  • A Closer Look At Magellan Midstream Partners' Distributable Cash Flow As Of 2Q 2013 [View article]
    The NRGY number in the table is incorrect. Thanks for pointing that out. I no longer follow NRGY and will remove if from the table going forward.
    Sep 4 08:51 PM | Likes Like |Link to Comment
  • A Closer Look At Buckeye Partners' Distributable Cash Flow As Of Q2 2013 [View article]
    Company disclosures
    Aug 29 04:00 PM | Likes Like |Link to Comment
  • A Closer Look At Buckeye Partners' Distributable Cash Flow As Of Q2 2013 [View article]
    Have not made these calculations.
    Aug 28 06:55 PM | Likes Like |Link to Comment
  • A Closer Look At Suburban Propane Partners' Distributable Cash Flow As Of Q3 FY 2013 [View article]
    Cannot answer because I do not cover APU and FGP. As I wrote to Bruce, there are only so many I can cover in the time I allot to this kind of analysis.
    Aug 23 09:00 PM | Likes Like |Link to Comment
  • A Closer Look At Suburban Propane Partners' Distributable Cash Flow As Of Q3 FY 2013 [View article]
    Time constraint is the only reason. There are only so many I can cover in the time I allot to this kind of analysis.
    Aug 23 08:58 PM | Likes Like |Link to Comment
  • A Closer Look At Plains All American Pipeline's Distributable Cash Flow As Of Q2 2013 [View article]
    I think you misunderstood. My comment with respect to it being costly to issue additional units referred to LP units. I did not refer to additional IDRs. IDR payments will be the same, just split differently.
    Aug 20 09:29 PM | Likes Like |Link to Comment
  • A Closer Look At Plains All American Pipeline's Distributable Cash Flow As Of Q2 2013 [View article]
    Overall, I see the benefits (which I noted and commented on extensively in past articles) outweighing the negatives.
    Aug 20 09:24 PM | Likes Like |Link to Comment
  • A Closer Look At Enterprise Products Partners' Distributable Cash Flow As Of Q2 2013 [View article]
    I own the both. No reason to restrict yourself to one or the other.
    Aug 15 07:51 AM | 1 Like Like |Link to Comment
  • A Closer Look At Enterprise Products Partners' Distributable Cash Flow As Of Q2 2013 [View article]
    1. Total sustainable DCF TTM 6/30/13 = $2,764 million (Table $)
    2. Total distributions to unitholders = $2,292 (Table 4)
    Dividing 1 by 2 = 1.21
    Aug 15 07:48 AM | Likes Like |Link to Comment
  • A Closer Look At Kinder Morgan Energy Partners' Distributable Cash Flow As Of Q2 2013 [View article]
    I assume you are referring to Table 5, but don't understand the question.
    Aug 7 11:41 AM | Likes Like |Link to Comment
  • A Closer Look At Williams Partners' Distributable Cash Flow As Of Q2 2013 [View article]
    I own both WPZ and WMB, so I can't say I favor WPZ. I agree that the the upside is greater for WMB, but I think that comes with a higher level of risk. As for KMP vs. WPZ, I believe the latter has greater upside, but I am not certain KMP presents less risk. As you saw from my articles, I think KMR causes an overstatement of the KMP coverage ratios.
    Have not looked closely at EEP.
    Aug 6 02:25 PM | Likes Like |Link to Comment
  • A Closer Look At Williams Partners' Distributable Cash Flow As Of Q2 2013 [View article]
    21.5 million share offering (ex green shoe) at ~$49 per share, 6% lower than the prior close.
    Aug 5 02:37 PM | Likes Like |Link to Comment
  • A Closer Look At Williams Partners' Distributable Cash Flow As Of Q2 2013 [View article]
    I view the GP as a higher risk asset, but expect it to produce higher returns. What is "best" for you, may not be so for me. I have done well with my GP investments, but this has been a rising market for MLPs for quite a while. I expect the GPs to underperform if MLP prices suffer sustained declines.
    Aug 5 02:36 PM | Likes Like |Link to Comment
  • A Closer Look At Boardwalk Pipeline Partners' Distributable Cash Flow As Of Q2 2013 [View article]
    I have largely given up on following NRGY. The effort it requires seems to me out of proportion. I will probably pick another MLP to follow in its place.
    Aug 3 10:19 AM | Likes Like |Link to Comment
  • A Closer Look At Plains All American Pipeline's Distributable Cash Flow As Of Q1 2013 [View article]
    Have not yet assessed. Will cover when I review 2Q results.
    Aug 1 03:45 PM | Likes Like |Link to Comment
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