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elliot_mllr

elliot_mllr
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  • Enterprise Products Partners - A Tricky Situation [View article]
    Here are some other insights. The article overlooks EPD's leading and significant position in the export of NGLs (particularly propane and ethane) and of stabilized condensate (regarding which it procured government permission to export) and its major Gulf Coast export facilities being developed, as well as its position in NGL processing, fractionation and transportation. It overlooks the fact that it pays no IDRs to its general partner, which it owns, and has a low cost of capital. It overlooks EPD's operational and geographic diversification and its thousand of miles of pipelines and billions of dollars of assets and revenues and margins. It overlooks the huge financial support (in nine figures) recently given by the Duncan family.Other than that it's OK.
    Elliot Miller
    Sep 2, 2015. 06:03 PM | 17 Likes Like |Link to Comment
  • China's Economy Is Undergoing A Huge Transformation That No One's Talking About [View article]
    OneCitizen:
    China has already eased its one child policy, allowing two in enumerated circumstances. Further easing is likely.
    Elliot Miller
    Sep 2, 2015. 01:17 PM | Likes Like |Link to Comment
  • Enterprise Products - Conservatively Positioning To Grow [View article]
    The Duncan family is highly supportive of the company with 9 figure investments in the EPD units. And with its low cost of capital and its operational and geographic diversification EPD is as good as it gets.
    Elliot Miller
    Sep 2, 2015. 12:22 PM | Likes Like |Link to Comment
  • Natural Gas: It's Go Time [View article]
    User 353732:
    I certainly agree with the points in your Comment, and would add to your point 2 the host of petrochemical plants using NGLs as a feedstock which will come on stream in the Gulf Coast starting in 2017.
    Elliot Miller
    Sep 1, 2015. 04:29 PM | 3 Likes Like |Link to Comment
  • Midstream MLPs Deserve A Look [View article]
    Mr. Leach:
    With regard to DLNG, do you know if it is a foreign corporation (many of the shipping companies are incorporated in the Marshall Islands) and avoids doing the business in the US that would subject it to the Jones Act and US income taxes? Are its dividends taxable here and if so, to what extent, and are the dividends Qualified? I think that those points would be of interest and relevance to your readers.
    Thanks for the interesting article.
    Elliot Miller
    Thanks.
    Sep 1, 2015. 04:13 PM | Likes Like |Link to Comment
  • We Still Have A Buck In The Till - We're Solvent! [View article]
    And neither Global Partners LP nor Sprague Resources LP is an upstream or e & p company; neither drills wells or produces oil and gas. Why they are included here is unclear.
    Elliot Miller
    Sep 1, 2015. 03:57 PM | Likes Like |Link to Comment
  • Tallgrass Energy Partners - A Viable Midstream MLP [View article]
    Very good analysis. Congratulations
    Elliot Miller
    Aug 27, 2015. 12:05 PM | 1 Like Like |Link to Comment
  • The 5 Questions Every Energy Investor Must Ask Themselves [View article]
    Here's what it will take for oil prices to recover:the price which producers can realize will be less than their lifting costs, which will finally cause production to come to a halt so that equilibrium can be achieved. Another scenario is to also take into account the very high decline rate of shale plays, and the average world wide decline rate of about 6%; when the world wide decline rate is greater than the world wide demand growth rate (now projected to be about 1% by the IEA) then prices will rise.
    Elliot Miller
    Aug 26, 2015. 01:38 PM | 1 Like Like |Link to Comment
  • MLP Screening - Did The Market Overreact To Some 10%+ Yielding MLPs And Should We Value Them Differently? [View article]
    The distribution is $1.60, not $1.57 and that's 20%. The reason I thought it said 10% was that's what it looked like on my screen--the nine looked like a zero.
    Aug 24, 2015. 01:02 PM | Likes Like |Link to Comment
  • MLP Screening - Did The Market Overreact To Some 10%+ Yielding MLPs And Should We Value Them Differently? [View article]
    On my computer it looked like 10%, not 19%
    Aug 24, 2015. 01:00 PM | Likes Like |Link to Comment
  • MLP Screening - Did The Market Overreact To Some 10%+ Yielding MLPs And Should We Value Them Differently? [View article]
    A cursory look at the first table shows glaring errors regarding SXE. For one thing, its distribution rate is $0.40 per quarter or $1.60, not $1.57, per annum. Therefore, at a unit price of $8 the yield is 20%, not 10%. I haven't looked beyond that, since finding two blatant errors in one article (see my above Comment for the first) is enough for me to disregard the rest.
    Elliot Miller
    Aug 24, 2015. 08:41 AM | 2 Likes Like |Link to Comment
  • MLP Screening - Did The Market Overreact To Some 10%+ Yielding MLPs And Should We Value Them Differently? [View article]
    While the article is valuable it does contain a glaring factual error. Contrary to the author's statement MLPs are not--repeat, not--required to distribute 90% (or any percentage at all) of their profits, margin, distributable cash flow, or anything else. The author makes the common mistake of conflating the statutory requirements for REITS and BDCs with MLPs. There is no distribution requirement for MLPs. There is a 90% requirement for MLPs, but that mandates that that percentage of revenues be from qualified income sources. When I see such a basic error in a narrative it usually makes me question the accuracy of the rest of the article, but here at least the article's thesis seems valid..
    Elliot Miller
    Aug 24, 2015. 08:33 AM | 10 Likes Like |Link to Comment
  • Short These Oil & Gas Companies - They Are Going To Zero [View article]
    bluice:
    Given the irrational and panic selling of EXLP units it would be better to sell a put. At the worst, if the put is exercised you get to buy an irrationaly depressed highly yielding equity at a cheap price and less the premium you received.
    Elliot Miller
    Aug 21, 2015. 10:52 AM | Likes Like |Link to Comment
  • Short These Oil & Gas Companies - They Are Going To Zero [View article]
    darnoc111 and bkb-1:
    By adding EXLP to a cohort which includes upstream MLPs, the author shows that he either does not understand what he is writing about or he is a bad faith short seller. If he's the latter he'll have to make significant quarterly partnership distributions to carry his EXLP short.
    Elliot Miller
    Aug 20, 2015. 09:55 AM | 2 Likes Like |Link to Comment
  • This Dividend Stock Yields Over 11%, Has 9 Straight Hikes And Just Raised Guidance [View article]
    PapaAlan:
    Good will is not necessarily useless. It generally refers to the excess over tangible assets paid for an acquisition. It may or may not have real value depending on the circumstances.
    Elliot Miller
    Aug 17, 2015. 11:37 AM | Likes Like |Link to Comment
COMMENTS STATS
1,568 Comments
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