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Tim Plaehn

 
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  • Pros And Cons Of MLP Investing Through Closed-End Funds [View article]
    They do not differ. I singled them out as what I view as better performing and investment opportunities among the bunch. Not enough space to cover 26 closed-end funds.
    Dec 19 01:23 PM | Likes Like |Link to Comment
  • Pros And Cons Of MLP Investing Through Closed-End Funds [View article]
    The timing of NML was not very good considering what has happened to MLP prices since. The share price decline has been worse than the NAV, so the fund may be a good value now.

    The portfolio structure is similar to the other MLP funds.
    Dec 19 10:16 AM | Likes Like |Link to Comment
  • Pros And Cons Of MLP Investing Through Closed-End Funds [View article]
    I am hoping Linn comes out with some 2014 projections on the combined company results. Those numbers should help with the unit price. Probably see that info in Q1 sometime. Dividend is not at risk, so collect the nice yield and wait patiently for the company to again be able to increase the distributions.
    Dec 18 01:08 PM | 2 Likes Like |Link to Comment
  • Pros And Cons Of MLP Investing Through Closed-End Funds [View article]
    TTR has kept its MLP holdings at less than 25% of the portfolio and is taxed as a RIC. There will be no internal tax issues that increase the expenses.

    CTR is just about all MLP investments and organized as a corporation. Tax expenses show in both the statement of operations and balance sheet. From your point of view, deferred tax expense reduces the calculated NAV.

    TTP has been an above average performer for the sector and CTR is only about 16 months old and I would rate the performance as OK.
    Dec 18 01:05 PM | Likes Like |Link to Comment
  • Pros And Cons Of MLP Investing Through Closed-End Funds [View article]
    A major benefit of all of the MLP owning funds will be the receipt of a 1099 for tax reporting. The CEFs owning the MLP units take care of the tax issues, but the taxes do effect the NAV and dividends paid compared to owning MLP units outright.

    However, MLP investors will eventually pay the taxes that a CEF becomes obligated to pay.
    Dec 18 12:51 PM | Likes Like |Link to Comment
  • Pros And Cons Of MLP Investing Through Closed-End Funds [View article]
    Kel, a quick look shows that TPZ is primarily a bond fund, so will not have the deferred tax issues like a fund holding MLP shares.
    Dec 18 11:22 AM | Likes Like |Link to Comment
  • Pros And Cons Of MLP Investing Through Closed-End Funds [View article]
    SMM shows 2.27% before interest and tax expenses.
    KYN is at 2.55% for management expenses
    SRV is $1.95% for management expenses
    KMF is showing 2.0%
    Dec 18 10:33 AM | Likes Like |Link to Comment
  • Pros And Cons Of MLP Investing Through Closed-End Funds [View article]
    I did mean KMF. I have put in for a change. However, I do also like KMR as an individual stock holding.
    Dec 18 09:23 AM | 1 Like Like |Link to Comment
  • Telecom Argentina: High Dividend (Maybe) And Potential Near-Term Pop [View article]
    Steven, please post the cash per share you actually receive. I am curious which exchange rate will be used to convert the pesos to bucks.
    Dec 14 10:05 AM | Likes Like |Link to Comment
  • Expecting A Big Q3 Dividend Reduction From Alon USA Partners [View article]
    Jaxx, PDH is looking very attractive at the current price. Adding too.
    Dec 13 10:29 AM | Likes Like |Link to Comment
  • Ship Finance Poised To Start Growing The Already Attractive 9% Dividend [View article]
    smurf, you make a good point. If history is any indicator, there will again be chances to pick up SFL at prices below $15. Another tactic would be to take a half position at the current price and then buy more if/when the share price drops or be happy if the shares go up and you are earning that 9% dividend.
    Dec 2 11:50 AM | 2 Likes Like |Link to Comment
  • IPO Of Plains GP Holdings Offers Mind-Blowing Tax-Free Dividend Math [View article]
    John, your math doesn't not work out. The nature of IDRs makes them grow at a faster rate than the MLP dividend. The IDRs PAGP get a part of increased by 26% over the last year while the PAA dividend grew by about 10%. With a GP type of investment like this you are looking for rapid dividend growth which will pull the share price up at a similar rate. 25% dividend growth should give 20% or better share price growth.
    The 1099 divs from the corporation will be mostly return of capital since the income earned from the K-1 income to the company is tax sheltered.
    Nov 26 10:14 AM | Likes Like |Link to Comment
  • IPO Of Plains GP Holdings Offers Mind-Blowing Tax-Free Dividend Math [View article]
    Under the tax rules, a partnership can choose to file taxes as a corporation, resulting in a 1099 instead of a K-1 to investors. LNCO is another partnership type company that has gone this route. It works pretty well if the partnership earns tax-sheltered income itself, such as from MLP holdings.
    Nov 25 10:07 AM | Likes Like |Link to Comment
  • IPO Of Plains GP Holdings Offers Mind-Blowing Tax-Free Dividend Math [View article]
    A couple of points. First, C corps can pay return of capital. Happens quite a bit. Also, IDRs increase with increasing LP unit counts as well as growing distribution rates. The IDRs get half of the cash paid increase which can be significantly higher than the percentage increase.
    Nov 25 12:31 AM | Likes Like |Link to Comment
  • Phillips 66 Partners Confirms ATM Reliability Of Pending Distribution Growth [View article]
    Coleman, the Partners stake should end up providing very nice cash flow to PSX in the long term.
    Nov 22 01:19 PM | Likes Like |Link to Comment
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