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Monday, November 10, 2008

The Atlas family (APL,AHD) continues to circle the drain this morning after flat to higher opens. Atlas Energy Resources (ATN) is down but not as bad as the other 2. Atlas Pipeline is down another dollar to just above 15. Atlas Holdings (AHD) down 1 and some change and sits at 9. Constellation (CEP), Crosstex LP (XTXI) Breitburn (BBEP) Hiland Holdings (HPGP) all now reside in the land of single digit handles....and more are getting close.

The mlp index has gone from +5 to flat as markets open at their highs and sell off. The dow is barely higher now. Oil was up nearly 5 dollars...now up 50 cents.

A few winners like Sunoco Logistics (SXL) Exterran Partners (EXLP) and Nustar (NS) up 1 point or more. Fractional gains in Oneok (OKS) Kinder Morgan (KMP) Holly Partners (HEP) Martin Midstream (MMLP) and Enterprise Products Partners (EPD).

2 comments:

Anonymous said...

Has anyone been able to get a handle on distribution cut risks for MWE, DPM and CPNO?(near term vs long term) I've been trying to make some analytical sense of current pricing. I could be missing something.

Thanks!

SteveH

Anonymous said...

Trying to make sense of anything going on in the MLP sector right now is impossible. If crude keeps falling, the G&P stocks will remain under pressure. If the economy keeps tanking, there will be less demand for NGLs.

I don't think anyone will miss anything by stepping away from the market for a few months. What catalyst will drive MLPs higher?
I really don't see anything.

Mr. Majestyk