NUSTAR RAISES DISTRIBUTION BIG TIME!
MLPS SET TO MOVE HIGHER.
More ex-distributions today but MLPS should be able to move higher with the overall market at least at the open. And Nustar holders have lots to be happy about as the company does a 7 cent distribution boost to 98.5 cents. Stock goes ex-distribution today. In the news this morning Energy Transfer Equity (ETE) is filing a prospectus as certain holders may be selling their shares. They join a rather long list of companies that have been doing this as year end approaches. Linn Energy (LINE) holders know this all too well. Might put some short term pressure on ETE until the deal is done.
No upgrades or downgrades this morning and no other news to speak of. Oil is up 2 dollars at 96 and change. 100 dollars oil continues to loom large and heating oil futures yesterday hit record highs. Stock up on firewood but i have to tell you that if there were firewood futures they would be at record highs as well!
joseph cioffi's Source Page - Associated Content
2 comments:
Careful reading of Nustar's PR indicates a 3.5 cent distribution increase over the previous quarter.
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"This quarterly distribution represents an increase of $0.07 per unit, or 7.7 percent, over the $0.915 distribution for the third quarter of 2006 and an increase of $0.035 per unit, or 3.7 percent, over the $0.95 distribution for the second quarter of 2007."
i stand corrected. by the end of the day sometimes i can't seem to read straight. thanks
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