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  • CenterPoint Energy, Inc: Come For The Value, Stay For The Yield  [View article]
    One issue that has caused me to hold back on CNP is the impact of solar on their business. I have no data on the local politics of reimbursing grid operators for the impacts of distributed energy generation - does anyone here?

    Obviously CNP is in an area that has a potential for high alternative energy utilization. I like their natgas operations.
    Oct 2, 2015. 02:03 AM | Likes Like |Link to Comment
  • A Dividend Growth Portfolio For Surviving 2015 And Beyond  [View article]
    Thanks for the work CWM. I'm particularly looking at VVC, since it made my watch list of utilities with no exposure to nuclear and good operational metrics - BTW, that's not a philosophical objection, but a risk management decision since utilities tend to self-insure.
    Oct 2, 2015. 01:55 AM | 1 Like Like |Link to Comment
  • Emerson Electric A Risky Play For Dividend Investors  [View article]
    What a bonus. A bearish article on EMR after the bearish article on NOV. We might not have noticed that there was trouble with oil and the strong dollar (maybe both) otherwise.

    Maybe we could get some advance notice next time.
    Oct 1, 2015. 06:39 PM | 4 Likes Like |Link to Comment
  • Winter Is Coming For Upstream Oil And Gas Companies In 2015, Part 3 - Chevron  [View article]
    I don't think anything is ever sustainable. Our limited time horizon keeps us from realizing it. In addition, energy commodity price forecasting may simply belong in the "too hard" bucket (like the weather ) too big and complex for human ken. OTOH, there's a lot of money to be made if one buys the cycle right.

    BTW, I still find it hard to believe that a jarhead can write like you do. It's unsettling - like finding a real Hannibal Lecter.
    Oct 1, 2015. 10:21 AM | Likes Like |Link to Comment
  • National Oilwell Varco Should Cut Or Suspend Its Dividend, Preserve Its Balance Sheet  [View article]
    While I'd never say never, NOV has a much smaller D/E ratio than either HAL or SLB, a very comfortable current ratio, plenty of cash, and undrawn credit lines. There are many levers to pull before taking actions which would only serve to hurt investor confidence.
    Sep 30, 2015. 10:36 PM | 1 Like Like |Link to Comment
  • Winter Is Coming For Upstream Oil And Gas Companies In 2015, Part 3 - Chevron  [View article]
    The LNG market is quite different than oil. There is a current over supply which has depressed prices even more, and unlike oil there are huge projects around the world coming on line. If I remember correctly, CVX planned on a price in excess of $15 for their investments in Australia. That's a LONG way from where they are.
    Sep 30, 2015. 10:25 PM | 1 Like Like |Link to Comment
  • Oracle Thumbs Nose At Shareholders On CEO Pay... Again  [View article]
    They did, Blueman. Ellison was making about that amount if I remember correctly.
    Sep 30, 2015. 02:33 PM | 1 Like Like |Link to Comment
  • Winter Is Coming For Upstream Oil And Gas Companies In 2015, Part 3 - Chevron  [View article]
    Nice commentary. CVX used to be an exceptionally well-managed company. Unfortunately, they have had disastrous results (delays in big Australian and GoM projects) at the same time as the precipitous drop in commodity prices. If they are only now priced for $100 oil (a conclusion about which I'm agnostic), I cringe at the idea that some writers here on SA were recommending the company at double the share price.
    Sep 30, 2015. 01:23 AM | 1 Like Like |Link to Comment
  • 2015 Dividend Machine Failures?  [View article]
    phexac, you're doomed. Basic accounting is assumed not to apply to dividends here on SA.
    Sep 29, 2015. 07:08 PM | 5 Likes Like |Link to Comment
  • Will Internap Find A Buyer?  [View article]
    Chris, any thoughts on the CVR (CCR) attached to the WMB deal?

    "To address any uncertainty as to how the newly listed ETC common shares, as a new security, will trade relative to ETE common units, ETE has agreed that, as part of the merger consideration, each ETC share will have attached to it one contingent consideration right ("CCR"). In the event the ETC common shares trade at a discount to the ETE common units on a daily volume-weighted average basis over the 23-month period following the 20th trading day after the closing of the transaction, ETC will make a one-time payment in an amount equal to such volume-weighted price differential (the "Shortfall Amount"). Any Shortfall Amount will be settled in ETC common shares (at the then current value) or cash at ETE's election, and ETE will issue a proportionate amount of Class E common units to ETC. If ETC common shares trade at a premium to ETE common units over the same 23-month period, the CCR will expire with no value and a portion of the ETE Class E common units held by ETC will be cancelled based on the volume weighted average price differential, thereby reducing ETC's ownership interest in ETE. There is also an automatic termination provision of the CCR if ETC trades above ETE on a daily VWAP basis for 20 consecutive trading days and there is no Shortfall Amount outstanding at the end of that 20 trading day period."
    Sep 29, 2015. 05:04 PM | Likes Like |Link to Comment
  • Oracle Thumbs Nose At Shareholders On CEO Pay... Again  [View article]
    Since the Co-CEOs (altogether) earn about 1.7 cents of the 2.63 annual EPS, I can think of many more important topics. I collect 33x that much and have no role that influences any outcomes.

    This topic is more about philosophical values than business.
    Sep 29, 2015. 04:47 PM | 3 Likes Like |Link to Comment
  • Please, Do Not Buy Altria Now  [View article]
    DYM, that is only true if you have no IRA already, and if the 401k is all after tax. Otherwise it is calculated as a pro rata share of total IRA assets and that percent is paid.
    Sep 29, 2015. 03:28 PM | Likes Like |Link to Comment
  • Assessing The Health Of Oracle's Traditional Software Cash Cow  [View article]
    I'm glad to see that you're still here with another great contribution, ZG.

    I'm long ORCL having reached some of the same conclusions you have in this article. Further, I see less competitive risk than I have seen described here on SA. ORCL certainly has the balance sheet needed to participate in new technologies that may emerge - that is if they have the imagination to realize what is actually a competitive threat.
    Sep 28, 2015. 09:56 PM | Likes Like |Link to Comment
  • Kinder Morgan: The Trans Mountain Pipeline Faces Yet Another Delay  [View article]
    Yes, RLP. And we have already seen delays as open season didn't produce needed contract volumes. http://tinyurl.com/oor...

    Some may go ahead anyway. http://tinyurl.com/o5w...

    Anyway, those who (as late as a couple months ago) were counting on the 10% CAGR through 2020 have had their aspirations (and capital) somewhat deflated.
    Sep 28, 2015. 09:34 PM | 2 Likes Like |Link to Comment
  • 2015 Dividend Machine Failures?  [View article]
    Good info MM. I see a lot of portfolio reports here that don't account for the TR when such rules are applied. Obviously, that reflects survivorship bias.
    Sep 28, 2015. 11:22 AM | Likes Like |Link to Comment