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Tim Plaehn  

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  • Rich Kinder: 'The Kinder Morgan Game Plan Is Still On Track' [View article]
    For the quarter KMI had about 1.2 times free cash flow coverage of the dividend and the company forecasts $400 million of excess cash flow above the planned dividends for the year. So No.
    Apr 20, 2015. 01:35 PM | 1 Like Like |Link to Comment
  • Ventas Gets Off The Government Dole To Re-Energize Its Dividend Growth Prospects [View article]
    That's the question. Management states a 10% increase from the present dividend, which would be $0.87 per quarter. Then we need to see how that amount is divided between the two REITs.
    Apr 19, 2015. 05:30 PM | 1 Like Like |Link to Comment
  • Plains All American Pipeline Could Be The Best Performing Large-Cap MLP Over The Next 2-3 Years [View article]
    Scooter,
    Good question. I do not yet have a good picture on how much production will drop vs. just a leveling off compared to recent growth rates. I think it will be another quarter before we see the effects.
    Apr 19, 2015. 09:56 AM | Likes Like |Link to Comment
  • Rich Kinder: 'The Kinder Morgan Game Plan Is Still On Track' [View article]
    As noted below, UP owned KMP for 16 years, and the company paid $$56.22 per unit in distributions over that time, for a total of $197,000 on those units. The distributions would have been tax free (until the 2014 roll up) until the distributions drove his cost basis to zero. (my math will be a little off due to a unit split in 2001).

    So 1700 units purchased in 1999, costing in the neighborhood of $40k, turned into roughly $500k in unit value in distributions.
    Apr 18, 2015. 07:19 PM | 3 Likes Like |Link to Comment
  • Rich Kinder: 'The Kinder Morgan Game Plan Is Still On Track' [View article]
    It has been my assertion since the roll up that Kinder planned to manage the corporation using the MLP model of growth fueled by equity and debt financing. With no meaningful income tax bill for several years, it should work out. When taxes become an issue, Kinder can spin-off assets to a new MLP and then start the drop down process to recapitalize the company using the tax-advantaged MLP model. So I value the dividend stream in the same way I would look at an MLP, yield vs. distribution growth.
    Apr 18, 2015. 07:01 PM | 11 Likes Like |Link to Comment
  • Rich Kinder: 'The Kinder Morgan Game Plan Is Still On Track' [View article]
    By 2020 I expect Kinder Morgan to return to the MLP space with some form of MLP spin-off.
    Apr 18, 2015. 02:20 PM | 4 Likes Like |Link to Comment
  • Data Metrics For Variable Pay Refinery MLPs: Final Q4 Numbers [View article]
    Peter, I have a Q1 update here: http://seekingalpha.co...
    Apr 18, 2015. 02:19 PM | Likes Like |Link to Comment
  • Rich Kinder: 'The Kinder Morgan Game Plan Is Still On Track' [View article]
    That's the way I read it too.
    Apr 18, 2015. 10:51 AM | 7 Likes Like |Link to Comment
  • Rich Kinder: 'The Kinder Morgan Game Plan Is Still On Track' [View article]
    KMI will never buy back stock. You will see share numbers increase as the company issues equity to fund growth prospects.
    Apr 17, 2015. 08:15 PM | 22 Likes Like |Link to Comment
  • Ventas Gets Off The Government Dole To Re-Energize Its Dividend Growth Prospects [View article]
    Nick, REITs as a group have been soft so far this year. I am hoping the sector sells off a bit more and I can get VTR for under $70. Just my personal target price.
    Apr 15, 2015. 02:00 PM | 2 Likes Like |Link to Comment
  • Ventas Gets Off The Government Dole To Re-Energize Its Dividend Growth Prospects [View article]
    Steve,
    Good points. I am very interested to see how this one works out. I am hoping the market undervalues one side or the other, so an attractive entry can be made.
    Apr 15, 2015. 10:11 AM | 2 Likes Like |Link to Comment
  • Ventas Gets Off The Government Dole To Re-Energize Its Dividend Growth Prospects [View article]
    Investors will get 1 on of the new REIT shares for each 4 VTR shares, so VTR should drop by about 20%.
    Apr 15, 2015. 09:35 AM | Likes Like |Link to Comment
  • Fast Math: Will Northern Tier Energy Declare A 6% Distribution For Q1, Producing A 25% Price Gain? [View article]
    My price data is from the crude oil price bulletins published by Plains All American Pipelines.
    Apr 9, 2015. 04:29 PM | 3 Likes Like |Link to Comment
  • Plains All American Pipeline Could Be The Best Performing Large-Cap MLP Over The Next 2-3 Years [View article]
    Phil,
    Thanks as always for your most informed information.
    Apr 9, 2015. 12:08 PM | Likes Like |Link to Comment
  • Fast Math: Will Northern Tier Energy Declare A 6% Distribution For Q1, Producing A 25% Price Gain? [View article]
    Another reason to like NTI. Owning the retail business allows them to wash RINs through to the retail fuel buyer.
    Apr 9, 2015. 10:11 AM | Likes Like |Link to Comment
COMMENTS STATS
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