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Ron Hiram  

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  • Thoughts On Kevin Kaiser's Allegations Of Inadequate Capital Maintenance Expenditures At Kinder Morgan [View article]
    KMI and ETE yield less than their underlying MLPs. On the other hand they should provide better growth, less dilution and better alignment of your interests with management's. But if you are concerned about being too concentrated in MLPs for your yield producing investments, there are more non-MLP alternatives to the lower returns offered by the GPs than to the higher current yields offered by the underlying MLPs.
    Sep 21, 2013. 12:33 PM | Likes Like |Link to Comment
  • Thoughts On Kevin Kaiser's Allegations Of Inadequate Capital Maintenance Expenditures At Kinder Morgan [View article]
    I suggested Gasland not as a reliable source of information but as an example of how opponents try to sway public sentiment.
    Sep 21, 2013. 12:09 PM | 2 Likes Like |Link to Comment
  • A Closer Look At El Paso Pipeline Partners' Distributable Cash Flow As Of Q2 2013 [View article]
    Thanks for your question. I responded via an article recently published.
    Sep 20, 2013. 03:30 AM | Likes Like |Link to Comment
  • A Closer Look At Suburban Propane Partners' Distributable Cash Flow As Of Q3 FY 2013 [View article]
    I am not sure which transaction you are referring to. Please be more specific. Thanks.
    Sep 10, 2013. 03:13 PM | Likes Like |Link to Comment
  • A Closer Look At Targa Resources Partners' Distributable Cash Flow As Of 2Q 2013 [View article]
    The MLP GP's probably offer the greatest DCF growth prospects. Take a look at ETE, TRGP and WMB. Other than that, look at EPD, PAA, MMP and WPZ. Of the MLPs I cover, these probably provide the best DCF growth prospects.
    Sep 10, 2013. 03:04 PM | Likes Like |Link to Comment
  • A Closer Look At Targa Resources Partners' Distributable Cash Flow As Of 2Q 2013 [View article]
    I bought when it yielded >9%. This was after SPH acquired the propane operations from NRGY. The reasons for initiating the position were outlined in http://bit.ly/18Pl39D
    Sep 9, 2013. 11:22 AM | Likes Like |Link to Comment
  • A Closer Look At Targa Resources Partners' Distributable Cash Flow As Of 2Q 2013 [View article]
    I am saying they are more reliant on raising cash via debt and equity issuance than other MLPs (i.e., NGLS is not generating excess cash); an LP's exposure to dilution risk is therefore greater.
    Sep 9, 2013. 11:11 AM | Likes Like |Link to Comment
  • 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, 2013. 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, 2013. 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, 2013. 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, 2013. 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, 2013. 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, 2013. 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, 2013. 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, 2013. 07:51 AM | 1 Like Like |Link to Comment
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