NO NEWS BUT EARNINGS AND DISTRIBUTION INCREASES LOOM LARGE!
Quiet on the MLP front this morning after yesterday's sell off (if you can call a 1/3 % selloff a selloff) but nonetheless it was a lower close but we're just a handful of ticks from new all time highs anyway. And while there is no news nor do we have any upgrades or downgrades earnings and distribution announcements will be coming over the next 2 weeks. Distribution growth is key to more upside. Also two of last quarters underperformers Crosstex LP(XTEX) and Hiland LP (HLND) are acting now as if they will be raising their distributions after missing last quarter. Both have rallied nicely. In fact Hiland was at 57 when it did not hike last time and its now near 59 while Crosstex LP has broken out over 37. They both better follow through and either raise or announce when increases will resume or there is alot of air in the prices of both. And btw i am long Crosstex LP (XTEX) in the interests of disclosure...I've have sold my Hiland LP (HLND) in this recent rally.
Energy complex is higher as oil is at 75 bucks. Natural Gas is up 11 cents right now and gasoline which dropped nearly 10 cents yesterday is up slightly. 10 year is up a few ticks on yield but nothing damaging and stock futures are higher.
Stand by for the open.
Quiet on the MLP front this morning after yesterday's sell off (if you can call a 1/3 % selloff a selloff) but nonetheless it was a lower close but we're just a handful of ticks from new all time highs anyway. And while there is no news nor do we have any upgrades or downgrades earnings and distribution announcements will be coming over the next 2 weeks. Distribution growth is key to more upside. Also two of last quarters underperformers Crosstex LP(XTEX) and Hiland LP (HLND) are acting now as if they will be raising their distributions after missing last quarter. Both have rallied nicely. In fact Hiland was at 57 when it did not hike last time and its now near 59 while Crosstex LP has broken out over 37. They both better follow through and either raise or announce when increases will resume or there is alot of air in the prices of both. And btw i am long Crosstex LP (XTEX) in the interests of disclosure...I've have sold my Hiland LP (HLND) in this recent rally.
Energy complex is higher as oil is at 75 bucks. Natural Gas is up 11 cents right now and gasoline which dropped nearly 10 cents yesterday is up slightly. 10 year is up a few ticks on yield but nothing damaging and stock futures are higher.
Stand by for the open.
joseph cioffi's Source Page - Associated Content
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