First off...my apologies for the issues regarding the full page ads and the malware thats showing up on internet explorer. I have alerted tech support so hopefully it will end .
MLPS are higher on the index up .40 with Duke Midstream (DPM) is up 90 cents and just off its highs of the day. Holly Partners (HEP) is up again as it is getting mileage out of yesterday's good earnings....its 60 cents ahead today.
The stocks that AG Edwards downgraded are down..Inergy Group down 80 cents, Crosstex LP (XTEX) is down 40 cents and Markwest (MWE) is down 20 cents. Not much else happening as the group seems to be tugging back and forth between minus 20 cents and plus 20 cents.
Crude has pulled back from 60 dollars but it is still higher by 30 cents.
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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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3 comments:
Joe,
This from abter1, on the XTEX downgrade:
AGEdwards downgrades XTEX (1 Rating) 6-Feb-07 10:20 am
AGEdwards downgraded XTEX today, along with several other MLPs. Here are the bullet summary points. Full report soon on Yahoo MLP Research Group.
"Downgrading the Units of XTEX to Hold from Buy
-- While the long-term outlook for XTEX appears favorable as midstream natural gas fundamentals remain strong, we are downgrading the shares of XTEX to Hold/Aggressive.
-- Some of our concerns include, competition from a number of expansion projects near XTEX's assets, South Louisiana asset issues, processing margin comparisons and the partnership's ability to grow going forward could be hampered by its relatively larger size and 50% GP splits.
-- Our concerns are somewhat offset by favorable industry fundamentals, meaningful distribution growth and management's track record of growing XTEX.
-- We now expect distribution growth in 2007 and 2008 of 10% and 13% compared to our previous estimates of 20% and 13%, respectively.
-- While we expect solid distribution growth over the next couple of years, we believe a majority of the growth is already priced into XTEX's units. Combining that with near-term concerns mentioned above, we now rate XTEX Hold/Aggressive."
Carlos
thanks for the info....bottom line is things are okay...just okay...according to AG Edwards anyway.
As always...an opportunity to buy on the cheap..or cheaper
What's so astonishing to me is how easily the market appears to brush off these analyst downgrades. As Joe has repeatedly pointed out, we'll see a one day pullback and then the march upwards resumes.
The only real MLP slug I can see is USS, but they are paying a whopping 9% plus while we wait for them to get their act together. Earnings call was Tuesday after close. Distribution coverage ratio is 1.17x.
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