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Tim Plaehn  

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  • Vanguard Natural Resources Stays Ahead Of The Competition With Another Acquisition Announcement [View article]
    $3.05 per unit. It has been trading in the $2.50 range.
    May 21, 2015. 10:56 PM | 1 Like Like |Link to Comment
  • Midcoast Energy Partners, Turnaround Play With A Current 9% Yield [View article]
    I was disappointed with Q1 results.
    May 21, 2015. 05:58 PM | Likes Like |Link to Comment
  • The MLP Structure Is Not Dead, How Oneok Partners Could Merge With Oneok Inc. [View article]
    Thanks for commenting. Oneok is struggling. I wanted to present a scenario where that struggle could help investors in the longer term.
    May 21, 2015. 02:16 PM | 1 Like Like |Link to Comment
  • The MLP Structure Is Not Dead, How Oneok Partners Could Merge With Oneok Inc. [View article]
    I consider the OKS 7.7% yield a reasonable wage to earn while waiting for the energy markets to recover.
    May 21, 2015. 12:50 PM | 1 Like Like |Link to Comment
  • The MLP Structure Is Not Dead, How Oneok Partners Could Merge With Oneok Inc. [View article]
    I do not think a merger is inevitable, or even highly probable. I do think that it would be better for OKS investors if the GP was pulled into the MLP. The Oneok group has done a huge amount of restructuring over the last few years with the goal of increasing investor value. In a slow distribution growth environment, OKE does not add much in the way of value.

    The OKS cash flow has been more cyclical, and to a certain extent this provides opportunities to pick up units when values are low and get the benefits when profits again swing higher. Not every MLP has to be a fee based, bore me to tears, 5% yield + 6% growth investment.
    May 21, 2015. 10:41 AM | 1 Like Like |Link to Comment
  • The MLP Structure Is Not Dead, How Oneok Partners Could Merge With Oneok Inc. [View article]
    The offer would probably be at a small premium to the OKE price. At the merger, OKE shares would turn into some number of OKS units.
    May 21, 2015. 09:14 AM | 1 Like Like |Link to Comment
  • The MLP Structure Is Not Dead, How Oneok Partners Could Merge With Oneok Inc. [View article]
    About 40% of OKE's value is in OKS units. Buying those out would be a wash, issuing new units, to retire the acquired units.
    May 21, 2015. 09:13 AM | 1 Like Like |Link to Comment
  • Income Power Couple: Stacking Kinder Morgan Against Williams Companies [View article]
    I am looking at writing about the Oneok companies. Stay tuned!
    May 19, 2015. 08:47 PM | 3 Likes Like |Link to Comment
  • Income Power Couple: Stacking Kinder Morgan Against Williams Companies [View article]
    KMI has talked about $400 to $600 million in excess cash flow for 2015 and $2 billion for the 6 year period. WMB indicated 1.1 times coverage in 2016, growing to 1.2 times in 2018.
    May 19, 2015. 05:20 PM | Likes Like |Link to Comment
  • Refining MLPs Double Up Q1 Distributions - Q2 Payouts Look Strong [View article]
    I do look at the weekly report from Weil. My numbers have a similar quarter to Q1 so far.
    May 19, 2015. 12:41 AM | 1 Like Like |Link to Comment
  • Refining MLPs Double Up Q1 Distributions - Q2 Payouts Look Strong [View article]
    Waiting for a move, nice move, and not really a fan, in order.
    May 11, 2015. 01:21 AM | Likes Like |Link to Comment
  • Refining MLPs Double Up Q1 Distributions - Q2 Payouts Look Strong [View article]
    These 3 MLPs are unique. NTI is owned by WNR, which is a nice mid-cap refiner which yields about 3%. KMR was a company with shares backed by the MLP units of KMP. The only two MLPs with 1099 sidekicks now are LINE/LNCO and EEP/EEQ. These two are in very different sectors of the MLP space.
    May 10, 2015. 04:11 PM | 2 Likes Like |Link to Comment
  • Refining MLPs Double Up Q1 Distributions - Q2 Payouts Look Strong [View article]
    Primarily based on unit price. CVRR is down a bit from recent highs and the other two are still at somewhat of a premium. Keep in mind there there is a lot of volatility with these unit prices and patience will allow you to accumulate at a much lower average cost.
    May 10, 2015. 12:26 PM | 2 Likes Like |Link to Comment
  • Refining MLPs Double Up Q1 Distributions - Q2 Payouts Look Strong [View article]
    If you hold a gun to my head, on current prices: CVRR, NTI, ALDW
    May 10, 2015. 11:23 AM | 2 Likes Like |Link to Comment
  • Refining MLPs Double Up Q1 Distributions - Q2 Payouts Look Strong [View article]
    I don't remember any numbers on the size of the trucking fleet. One benefit of picking up direct is to get grades of oil that will be most efficiently refined in the NTI refinery.
    May 10, 2015. 10:55 AM | 1 Like Like |Link to Comment
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