Energy Transfer Partners (ETP is our Alcoa (AA) and it posted very good earnings last night. The stock has seen a trade up at 54 this morning which is up 2.54 from yesterday's close. Looks like a renegade trade of 200 shares so I wouldn't put too much value into it. The earnings release also has info on Energy Transfer Equity (ETE) which is the general partner. Also i forgot to post this yesterday but Oneok LP (OKS) raised its 2008 guidance which was good for a 70 cent gain on the stock yesterday.
This morning stock futures are a touch softer after yesterday's reversal. MLPS did come off the lows yesterday but the index closed a little lower and just under the 300 level. BTW we are down just a little less than 1% since January 1st which compares to the 5 to 8% declines seen on the rest of the tape. So we are outperforming the overall tape. Noticed a little panic on some of the comments over the last few days so i just think we should keep a little perspective here.
Friedman Billings is reiterating its outperform rating on 2 mlps, Atlas Pipeline (APL) and Legacy (LGCY) although it adjust its target prices down slightly. I'm not a big fan of targets since the market has a tendency to exceed them or not get close at all. Lately its been the latter.
Energy futures are down except for Nat gas which is up. Maybe this year will be the year of natural gas to rally. Its up 4 cents this morning. And colder weather is coming longer range over the next 2 to 3 weeks.
My dell laptop is giving me a hard time today. A mac is looking more and more attractive.
joseph cioffi's Source Page - Associated Content
2 comments:
DPM has given back its entire move. Does anyone out there like this name?
that move had a year end smell to it as it went from 37 to 46 almost in a straight line. I'm accumulating in here under 40 bucks.
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