Some after hours news to report. First on the earnings front...very impressive numbers i think from Markwest Energy Partners (MWE) as they double income and cash flow...1.6 times coverage and they said they plan 10% annual boost to the distribution. Also Atlas America (ATLS) reports record earnings.
In IPO news not exactly a ringing endorsement for Buckeye Holdings as they priced the IPO 2 dollars under the expected range of 19-21...priced at 17. Not sure what the impact will be on Buckeye Partners (BPL). It has been the trend to rally the MLP once the GP hits the market..that has been the case with Atlas Pipeline Partners and Valero LP as they have moved nicely off their lows...but the whole group has rallied so that could be coincidental. We'll see how this plays tomorrow. We have the employment numbers. If the 10 year continues its rally and yields continue to fall..MLPS should have continued support.
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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:
Schroeder of MWE clarified the distribuion increase as they feel they can sustain a 10% annualized distribution growth with organic growth. They are also actively looking for additional accretive acquisitions.
Since the stock offering its been straight up. I think the added liquidity has attracted a whole new set of buyers.
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