Still in that parallel universe with Linn at 20.
Kinder Morgan (KMP) is dragging down the mlp index today with the stock proving it can go down every now and then. Its down 75 cents and under 58. The index itself is down 1 point. Semgroup Partners (SGLP) announced a secondary yesterday and the stock is getting a 1 point haircut. I noticed yesterday a filing by Tortoise Energy Infrastrature (TYG) on a number of MLPS. Holly Partners (HEP) had one of those filings and the stock is down 1 and change. Enbridge (EEP) Atlas Pipeline (APL) Teppco (TPP) and Buckeye (BPL) are all down fractions and dragging the index lower.
Natural Resource Partners (NRP) is up 50 cents and Alliance Resource Partners (ARLP) is up 1 and change. Atlas Resource (ATN) is up for a change as well. Coal doing well today effects the first 2. Not sure if ATN has any coal interests. I will check on that.
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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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8 comments:
we are getting smoked by the rest of the market. it is hard to sit here and watch mlps's go down with a 300 swing in the dow.
MLP's stinkin' up the joint...Dow rocking the last few days and we go nowhere. Even the banks are rallying.
i just dont understand what the hell is going on
MLP's just blow. Anyone who purchased any of this crap the last six months has gotten jack or if E&P gotten kiled. Yeah great you get some dividends, but the underlying MLP performance is atrocious. Fed funds are in the cellar, CD and bank rates suck, etc and nobody cares that these things are yielding 400+ above treasuries.
DPM -3% on 9000 shares. This isn't even a real market. What would have happened if someone sold 100K shares? This really is getting ridiculous. Where is the liquidity?
Obviously some of the posters here are short and promoting their own short positions. It's not working at least with me.
From Morningstar : Bargains abound. While we see it as a positive that MLPs don't retain their earnings, the market has wrongly interpreted their reliance on the capital markets as a risk in the current credit environment.
YEAH EVERYONE IS SHORT AND PAYING 7.50% DIVIDEND! WHO CARES?
I agree that liquidity makes these daily price swings hard to watch -- today's big drop in DPM on essentially no volume is a good example. But this has to cut both ways. Sooner or later the fundamentals will rise to the forefront, buyers will emerge, and the prices will go up. Have to. MLPs can't logically go to zero when the underlying businesses are sound and throwing off cash at an increasing rate.
If we were discussing disintegration of the energy infrastructure it would be a different story. But we're not. People decide to sell for whatever reason but when there are no buyers, the price has to go down.
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