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Tim Plaehn  

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  • High-Yield New Residential Investment Boosts Shareholder Value (A Lot) With Acquisition [View article]
    How much of HLSS does the company own? It seems that Ocwen pushed this deal along with its sale of MSRs.
    Feb 25, 2015. 12:50 PM | Likes Like |Link to Comment
  • ONEOK Bails Out On Planned Dividend Growth For 2015 [View article]
    Hedglimp,
    Thanks for the color.
    Feb 25, 2015. 12:14 PM | Likes Like |Link to Comment
  • ONEOK Bails Out On Planned Dividend Growth For 2015 [View article]
    I think that the KMI deal was a special case, due to the high IDR payments paid by KMP and EPB to KMI.
    Feb 25, 2015. 10:30 AM | 2 Likes Like |Link to Comment
  • ONEOK Bails Out On Planned Dividend Growth For 2015 [View article]
    I think that KMI is a special case and that the MLP structure makes the most sense most of the time for midstream energy companies. EPD merged in its GP years ago and has done very well.
    Feb 25, 2015. 09:50 AM | 1 Like Like |Link to Comment
  • High-Yield New Residential Investment Boosts Shareholder Value (A Lot) With Acquisition [View article]
    NRZ has very deep mortgage company contacts.
    Feb 25, 2015. 01:24 AM | 1 Like Like |Link to Comment
  • High-Yield New Residential Investment Boosts Shareholder Value (A Lot) With Acquisition [View article]
    I have not taken a close look at OCN. Lots of news noise kind of keeps me away. I am happy with NRZ and the two commercial mortgage REITs for that space.
    Feb 24, 2015. 08:14 PM | Likes Like |Link to Comment
  • High-Yield New Residential Investment Boosts Shareholder Value (A Lot) With Acquisition [View article]
    At my presentation at the Orlando MoneyShow earlier this month I asked for a show of hands for those that owned NRZ. Not one hand raised in a packed room. This stock has room to increase.
    Feb 24, 2015. 07:52 PM | 6 Likes Like |Link to Comment
  • High-Yield New Residential Investment Boosts Shareholder Value (A Lot) With Acquisition [View article]
    Thanks, I like to both read and write short and to the point.
    Feb 24, 2015. 07:11 PM | Likes Like |Link to Comment
  • Blackstone Mortgage Trust: 7% Yield And Rising Rates Protection [View article]
    Thanks for the feedback.
    Feb 23, 2015. 11:58 PM | 1 Like Like |Link to Comment
  • Linn Energy: 2014 Asset Restructuring To Pay 'Dividends' In 2015 And Beyond [View article]
    Brian, all MLP distributions are return of capital. Individual investor profits and losses are reported on Schedules K-1.
    Feb 23, 2015. 11:42 AM | 1 Like Like |Link to Comment
  • Linn Energy: 2014 Asset Restructuring To Pay 'Dividends' In 2015 And Beyond [View article]
    Smurf, thanks for the comment. MLPs are partnerships, thus do not have shares and EPS is a meaningless metric. All profit and losses pass through to unit holders. These companies rarely produce book profits due to high non-cash write offs like depletion and depreciation.

    Net free cash flow is paid to unit holders as distributions. Cash flow in most cases is roughly EBITDA with cash items like taxes, interest and settled hedge results added back in. Then upstream MLPs will subtract cash to pay for sustaining capex. The remainder is distributable cash flow.
    Feb 20, 2015. 04:43 PM | 2 Likes Like |Link to Comment
  • Linn Energy: 2014 Asset Restructuring To Pay 'Dividends' In 2015 And Beyond [View article]
    With so little real information to go on, we just need to wait and see what type of deal Linn puts together.

    As noted above hopefully made clear in my article and the comments, the Linn management results over the last few years have been less than stellar. I am thinking/hoping that the drop in energy prices has forced a business plan change that will work better in the future.

    I recommended LNCO to my subscription newsletter subscribers at about $20, so that recommendation is well under water.

    I have also made a few bucks by buying LNCO when the price dropped into the low $9's, and selling after a $3 or so gain. Also carrying an ongoing position that has an average cost in the low teens.
    Feb 20, 2015. 12:46 PM | 2 Likes Like |Link to Comment
  • Digging Into The New InfraCap MLP ETF: Notes On My Conversation With Fund Management [View article]
    One other point, make sure you know how often SRV updates the NAV. For some of the MLP CEFs, NAVs are not published daily.
    Feb 19, 2015. 08:59 PM | 1 Like Like |Link to Comment
  • Linn Energy: 2014 Asset Restructuring To Pay 'Dividends' In 2015 And Beyond [View article]
    I always appreciate rlp's comments, he raises valid points. The Torrance refinery issue could really be a serious short term hurdle.
    Feb 19, 2015. 04:14 PM | 8 Likes Like |Link to Comment
  • Linn Energy: 2014 Asset Restructuring To Pay 'Dividends' In 2015 And Beyond [View article]
    BBE,
    I answered on the other article where you posted the question.
    Feb 19, 2015. 04:12 PM | 3 Likes Like |Link to Comment
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