Downtick after downtick continues. Lehman held mlps getting especially hammered once again. Even Kinder Morgan (KMP) and Enterprise (EPD) seeing selling. MLPS are just continuing in their grinding bear market. No bids. No signs of a bottom. Nothing. Yield spreads discounting distribution cuts of 40 to 50 % to bring MLPS in line with normal spreads. Even the distribution growers are seeing their yields over 10%
It is very sad.
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About Me
- 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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4 comments:
Yup, amazing price actions, CEP selling at $16. yielding 14% with a D/E of .3, distribution growth of 21% yoy, 100+% Rev Growth, EBTIDA/ share of 4 (in line with other E&P)
I'm buying in here. Will it go down more, maybe but at 14% with those metrics.... AM I missing something???
I have said/thought the same thing with regards to CEP. I MUST be missing something...
There are too explanations that I can think of:
1. Massive seller.
2. The company is a total fraud and the numbers are make-believe.
Tongue firmly in cheek.
That second possibility has some credence since they recently fired the CFO. Lets hope......
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