Wasn't good today as my horse ran 6th....looks like she needed a race. Oh well there is always next time.
Meanwhile i certainly did not miss much as the group for the most part is lower with the 10 year at 4.52% putting pressure. Magellan Midstream is spending money on capital improvements but the stock is down 40 cents plus its ex-distribution today by 56 cents. Energy Transfer is up 50 cents on a boost in outlook from the company. Otherwise its mostly fractional losses across the board with just the odd gainer.
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- joewxman
- a meteorologist with a knack for trading and investing in MLPS! I also like horse racing, enjoy cigars and a good port wine.
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2 comments:
Sympathize with your horse story. Couple of my uncles owned horses in Argentina and it was always up, down and sideways...the next race -- they used to say -- the next race you'll see! Best of luck, Joe!
On another front:don't know if you had time to check factoids transcript of the EPD call and his comments on the no go TPP buyout. Check it out. No prospects, according to his transcript, in the near or midterm future. EPD stock "too low" (also read TPP stock too high!). I fully expect another push to drive TPP down even further than the 33 we saw before.
Your take?
I think the year end demise of Teppco had more to do with tax loss selling and group pressure...the stock was down today buy 40 cents or so...it will go x-dis another 70 cents tomorrow so the stock opens tomorrow at 37.70. Unless earnings are a real disaster..and/or the group goes down if 10 year rates spike...i'd be shocked to see this drop below 35 again.
Meanwhile lets turn this around another way. Duncan says he doesn't want to do a deal now because EPD's stock is too low. So we know for sure that he wants to use EPD as currency to buyout Teppco or for that matter anyone else. So at least we have on key in watching EPD's stock price as a proxy for when he might do a buyout.
Also bear in mind that Teppco's stock price might start rising again if the company's outlook improves and they start growing the distribution again. I guess we'll know this in a few days when earnings come out.
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