Nice comeback yesterday for the MLP index which was down nearly 2 points and rallied all the way back to just shy of the flatline. Last week's breakout remains intact.
This morning we should start with a nice opening boost from Kinder Morgan Partners which last night boosted its distribution by 3 cents to 88 cents and showed an increase in distributable cash flow of 26%.
Its chart mirrors the MLP index almost tick for tick and is a large component of the index. Earnings were up 5% in the quarter.
JPM Morgan is making calls on a number of MLPS. It starts Eagle Rock (EROC) Enterprise Products Partners (EPD) and Markwest (MWE) at overweight. It puts neutral ratings on Kinder Morgan (KMP) Regency (RGNC) Plains All American (PAA) and Teppco (TPP).
10 year rates falling again and under 4.50% as Bank of America reminds us things in credit land are not all that good.
For those of you looking for a distribution reinvestment plan, Teppco comes to the rescue.
joseph cioffi's Source Page - Associated Content
1 comment:
Interesting news about the new TPP DRIP plan. No surprise, really, now that its is controlled by Dan Duncan's EPCO.
Is anyone of aware of MLPs with similar discounted DRIP plans? These appear to be well kept secrets, although I can't imagine why. I know about a similar plan at EPD, but only because I'm a unitholder. It is not mentioned anywhere in their annual report, if you can believe that. The Kayne-Anderson funds also have DRIP discounts depending on the spread between NAV and share price. I'd like to compile a list of MLPs offering discounted DRIP, but may have to call IR at each one!
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