Seeking Alpha

Robert Hennecke

Robert Hennecke
Send Message
View as an RSS Feed
View Robert Hennecke's Comments BY TICKER:
Latest  |  Highest rated
  • Exelis' (XLS) CEO David Melcher on Q2 2014 Results - Earnings Call Transcript [View article]
    I just wish the spinoff backsliding can finally end and a firm date and the respective terms laid out already. It's painfully obvious that a lack of concrete facts in this regard is punishing shareholders unjustly. It is most insufferable.
    Aug 13 12:16 AM | Likes Like |Link to Comment
  • Northern Tier Energy Update: Looking Forward To A Nearly 10% Yield [View article]
    I don't like the potential for a wide range of excuses and a non GAAP acc g methodology. How the hell was I supposed to know about the Minnesota pipeline maintenance issue and if so, how much of the qtr was not able to have the tar sands oil coming through. The Cdn dollar was relatively low and therefore they could have taken good advantage. The problem is, there is an enormous potential to say things went badly when in fact they went well and with non gaap recordi g there is a potential for double books with the outsiders having to accept 'excuses'. This should have beena better qtr. I've a fairly decent stake so I'm not thrilled at the disappointment. Also the irrationality of Delek with it s patbetic 2% yield and pe of 25 or so and a price of 33 and change. Where is the justice and logic????
    Aug 12 11:44 PM | Likes Like |Link to Comment
  • Alon USA Partners Returns To Double-Digit Distributions [View article]
    Nti hammered and yet delek with it s pathetic 2% yield annuallyand p e of 25 or so and it is at 33 or so. Where is the justice???
    Aug 12 11:26 PM | Likes Like |Link to Comment
  • 5 Basic Materials Dividend Dogs Chase 11.3% To 14.2% July Upsides [View article]
    Fire at CVR has to be a gift basket to NTI, ALDW, Philips 66 et al... a 115k bpd offline for a month has already increase the brent wti spread... one of the key profit generators for refiners. Trouble overseas is pushing up brent so the combination of the two issues going foreward for q3 should be good for nti holders. My take is that this is an engineered beat witht he anal-ysts browbeating NTI down so that expectations are lowered and there is a beat by default. Meanwhile they themselves are backing up the truck to load up on units. Institutional ownership is at 30 % up froma a low of 8 % earlier this year... do the math. They are shaking the tree loose of independants unit holders know full well this is an instabank machine waiting to payout. A restructuring of WNR-NTI by spinning off the retail units of both and consolidating all refining assets into the mlp structure would be a bonanza for both and if occured would see NTI at 36 $ overnight.
    Aug 3 01:45 PM | Likes Like |Link to Comment
  • CVR Refining Reports 2014 Second Quarter Results And Announces Cash Distribution of 96 Cents per Common Unit [View article]
    one month out of commission for the Kansas 115 k bpd refinery can`t be good for q3. To me that`s a gift basket to other mid continental refiners as their inputs now have to be cheaper by default and there will likely be upward pressure on prices to make up for the refined product taken off the market. This should be good for NTI, ALDW, Holly Frontier, Valero and Philips 66.
    Aug 3 01:27 PM | Likes Like |Link to Comment
  • CVR Refining reports Coffeyville refinery fire, crack spreads rise [View news story]
    To me this is short term bad news for CVR and short term good news for NTI and ALDW. ALDW especially has to benefit sharply from the increase in WTI-BRENT spread due to the shutdown and they are not too far from the area covered by CVR.
    Aug 2 04:42 PM | Likes Like |Link to Comment
  • Price Entry Point For CVR Refining For Double-Digit Earnings [View article]
    The refinery will be out for a month. An entire month of a 115 bpd refinery. That alone has to be a major impact on those purhcasing WTI and other inputs cheaper than WTI and selling at the Brent rate. For the life of me I cannot fathom the dramatic NTI unit drops. I`m increasing my stake even on margin. The yield is greater than the interest rate so to me every quarter the debt in real terms drops thus the interest charge declines assuming greater than interest rate yields. In other words, if a capital gain isn`t possible in the short term, a longer term incremental gain can be accomplished with borrowed money.
    Aug 2 04:38 PM | Likes Like |Link to Comment
  • Price Entry Point For CVR Refining For Double-Digit Earnings [View article]
    I hold nti. the fire at cvr should be good news as wti drops relative to brent yet nti has been tumbling non stop. My belief is that anal-ysts have been talking it down for the past few months in an engineered beat as they are picking them up on the cheap si that they can later claim that they are such brilliant money managers. No fire at NTI all quarter and now WTI dropping and no radical changes during the qtr and yet tumbling unit prices ?????
    Aug 2 04:33 PM | Likes Like |Link to Comment
  • Macquerie Downgrade Of NTI - Northern Tier [View instapost]
    Zacks and Macquerie are stock manipulators. Zacks implores people to sell NTI and buy Breitburn. Breitburn has an unsustainabvle yield and a p/e of 308 whereas NTI is strong, has a sustainable yield and a p/e foreward of 7,8, rear 11,5 about.

    zacks should be brought before the SEC to be investigated.
    Jul 25 03:48 PM | Likes Like |Link to Comment
  • Northern Tier Announces Second Quarter 2014 Earnings Call And Webcast [View article]

    IF it comes to light that Macquerie investments was actively purchasing NTI mlp units today after having downgraded NTI,
    Macquerie investments should then be dragged before a senate finance sub committee ti investigate clearcut biased scapegoating
    and malevolent profiteering of their own making. It is absolutely contemptable as a practice. The fundamentals and financial position
    of Northern Tier rate it a definite buy as will be clearly obvious at Aug 6th reporting date.

    Robert Hennecke.
    Jul 10 04:43 PM | Likes Like |Link to Comment
  • Federal Approval Of Condensate Exports By Pioneer And Enterprise Products Should Give Eagle Ford E&P Companies A Lift [View article]
    There is also the fact that US continental pdn of crude oil continues to astound. Both Texas and ND are producing beyond expectationsd and then there is Montana, S Saskatchewan etc... yet to come on stream to potential. The tar sands are an endless source that atually needs the condensates. this is actually good news overall but reads negtively. Think it through, mid continental refining is where it`s at. I am in even on margin.
    Jul 8 06:24 PM | Likes Like |Link to Comment
  • Alon USA Partners Announces Completion Of Turnaround And Provides Second Quarter Update [View article]
    Forward guidance is encouraging. Q2 less than hoped but that 73 to 74 k barrel/day means 3 to 4 k barrels ongoing extra yield going forward. that is not 3 or 4 %, it`s more and it`s ongoing and it is from the existing infrastructure. If in the future the refinery can be brought up to 85 k bpd... now you would be talking mega bucks.
    Jul 8 06:18 PM | Likes Like |Link to Comment
  • Alon USA Partners Returns To Double-Digit Distributions [View article]
    i`m holding. have been in an out but even on margin, the annual dividend is greater than what margin at 4,25 % costs.
    I think the risks are justified. Assuming an anual yield of say 10 %, even alien non resident taxes of 40 % yields 6 % which is still better than interest costs.
    so why bother ? the potential for capital gains using money you don`t have and the renting of that money paid for by the yield of the underlying mlp in the first place.
    Jul 8 06:11 PM | Likes Like |Link to Comment
  • Federal Approval Of Condensate Exports By Pioneer And Enterprise Products Should Give Eagle Ford E&P Companies A Lift [View article]
    This is relatively insignificant in the short to medium term with respect to refiners as they rely on Canadian low cost crude and this in reality permits this to occur in greater amounts. A full permitting of crude exports would be another issue entirely. This is a buying opportunity in reality.
    Jun 26 01:46 PM | 3 Likes Like |Link to Comment
  • Exelis Upcoming Spinoff Is A Value Proposition. [View instapost]
    The time to get onto the Exelis freight train is now. This stock does not oscillate very much, it tends to go either up or down on small increments depending upon the sentiment of hedge fund managers.
    Jun 13 06:42 PM | Likes Like |Link to Comment