Good Monday Morning.

Thought we'd get Valero LP earnings before the open but they haven't posted so far. As soon they hit i'll blog with the numbers. Meanwhile earnings from Holly Partners are out and they are a little higher but nothing to write home about. Stock has done basically nothing for the year as it has gone sideways for the most part. Late Friday and while the market was still open Atlas Pipeline Partners (APL) announced its distribution and there was no increase which led the stock to sell off its highs on the disappointment. Atlas Holdings (AHD) announced a prorated distribution of 17 cents for the quarter...translates to 24 cents for a full quarter or 96 cents annual/

We have some brokerage house moves this morning on Hiland Partners (HLND as Lehman starts at overweight and Wachovia starts at outperform. Meanwhile Natural Resource Partners got cut to hold from buy at citi-group.

A bunch more MLPS are ex distribution today including Crosstex, Copano and some others so look for some impact again on the MLP Index as we sit near all time highs and a breakout on the weekly chart.



Ten year rates this morning are flat at 4.68% while the energy complex is selling off sharply this morning.Oil down 1 dollar and nat gas down as well.

Friday we saw some odd trading in Teppco (TPP) as the stock went ex-distribution and was up nearly 1 dollar on three times the volume.


No news this morning but we'll watch the trading today to see if this smells of takeover. Meanwhile the chart above looks like its in breakout mode.