A Closer Look At El Paso Pipeline Partners' 2Q Distributable Cash Flow
- No material differences between reported and sustainable DCF.
- EPB did not use cash raised from issuance of debt and equity to fund distributions in the latest TTM period.
- But coverage of the current distribution level is very tight.
- Amount remaining after cash generated by operations funds maintenance capital expenditures and distributions is sharply lower in latest TTM period.
- Continue looking for opportunities to take profits and reduce positions.