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Caught up in the Linn/LinnCo downdraft is BreitBurn Energy Partners (BBEP -8.2%), which Hedgeye...

Caught up in the Linn/LinnCo downdraft is BreitBurn Energy Partners (BBEP -8.2%), which Hedgeye slammed this morning as "Linn Energy junior" whose fair value is $2-$8/unit and whose distribution is "largely a mirage." EV Energy Partners (EVEP -0.7%) and QR Energy (QRE -3.2%) also are mentioned as companies that "may significantly understate maintenance capex, and as a result, overstate DCF."
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Comments (15)
  • dsrtwriter
    , contributor
    Comments (351) | Send Message
     
    Nice bear stampede try. This company is solid.
    2 Jul 2013, 03:27 PM Reply Like
  • Clayton Rulli
    , contributor
    Comments (2615) | Send Message
     
    The SEC should examine Barrons more so than the companies mentioned!
    2 Jul 2013, 03:31 PM Reply Like
  • Albert Alfonso
    , contributor
    Comments (1520) | Send Message
     
    What madness. LINE was by far the most aggressive with is accounting for hedges. Other upstream MLPs are much more conservative. LINE's equity value is greater than all the other upstream MLPs combined. They are easy prey for the shorts.
    2 Jul 2013, 03:33 PM Reply Like
  • Clayton Rulli
    , contributor
    Comments (2615) | Send Message
     
    LOL even $KMP is down
    2 Jul 2013, 03:38 PM Reply Like
  • arthur_bishop1972
    , contributor
    Comments (2332) | Send Message
     
    This whole thing has turned into a high school prom drama..."LINN lied...that B....you're friends with LINN so you're a B too, and so are you, etc., etc.
    2 Jul 2013, 03:54 PM Reply Like
  • Davephd
    , contributor
    Comments (726) | Send Message
     
    Who the hell is Hedgeye and to quote Harry Truman - who made that SOB an expert?
    2 Jul 2013, 04:00 PM Reply Like
  • Humble Value Miner
    , contributor
    Comments (423) | Send Message
     
    well if Hedgeye was short, nice job. They say that LINE is worth $8 and BBEP may have overstated and this is sufficient for a -12% on BBEP... They know that real volumes on MLPs are not so big, and that algo trading disconnects for any spike.
    It would be great a SEC investigation on them - by the way any SEC investigation on anything suspect is always welcome.
    2 Jul 2013, 04:18 PM Reply Like
  • indianadan48
    , contributor
    Comments (37) | Send Message
     
    typical fraud by short sellers, whose shorts were not working due to positive news and events over last couple weeks
    2 Jul 2013, 05:00 PM Reply Like
  • Mike Maher
    , contributor
    Comments (2576) | Send Message
     
    VNR only upstream company that didnt get slaughtered.
    2 Jul 2013, 08:08 PM Reply Like
  • rlp2451
    , contributor
    Comments (5342) | Send Message
     
    EVEP didn't get hit bad, although it's been beat up enough already.

     

    PSE was higher; MEMP was only down .10.
    2 Jul 2013, 08:17 PM Reply Like
  • Mike Maher
    , contributor
    Comments (2576) | Send Message
     
    PSE has a pending takeover from the parent. Been in that for years now.
    2 Jul 2013, 10:52 PM Reply Like
  • mullenmom
    , contributor
    Comments (3) | Send Message
     
    a classic case of "shoot first and ask questions later"
    2 Jul 2013, 05:18 PM Reply Like
  • Davephd
    , contributor
    Comments (726) | Send Message
     
    What a buying opportunity with oil up!
    3 Jul 2013, 12:10 PM Reply Like
  • paul7777777
    , contributor
    Comments (52) | Send Message
     
    @ Davephd

     

    You are right, I bought some BBEP today
    5 Jul 2013, 12:00 PM Reply Like
  • redamber
    , contributor
    Comments (23) | Send Message
     
    Beware these MLP bears (Hedgeye and some author named James Kabolinski? or some weird spelling) ... I got caught in the painful $line escapades
    They are targeting most MLPs one at a time and since the SEC inquiry into Linn they now will compare all upstream MLPs to Linn.

     

    You will see articles start appearing more frequently

     

    Becareful - their clients are hedgefund$ and they have ex-SEC lawyers working for them... when they hatchet a company expect the stock to be down big the next morning before open.

     

    FD: Stopped out of $LNCO; may add puts in an MLP in the next 72 hours
    6 Jul 2013, 05:38 PM Reply Like
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