Eagle Rock (EROC) and Transmontaigne (TLP) lead the very small list of winners up 50 to 75 cents. Otherwise its a 3 point plus loss on the mlp index but the overall market is down harder...off 4+% at the low..now down 225 or 3%ish so at least relative outperformace continues even if it means we are down less.
Oneok (OKS) Kinder Morgan (KMP and DCP Midstream (DPM) are down over 1 point each and lead the losers list. Williams (WPZ) Energy Transfer Equity(ETE) Alliance Resource (ARLP) Buckeye (BPL) Natural Resource (NRP) among the mlps losing major fractions.
Crude has turned higher by 33 cents as of this post. Very cold air heading for the midwest and northeast from now through Friday so bundle up. Nat gas now has a 4 handle!
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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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2 comments:
Joe. Good afternoon. I truly enjoy, and hopefully benefit, from your commentaries. A couple of questions: 1. From a long-term historical perspective, is it reasonable to expect MLPs to yield an average in the 5%-10% range, with the larger more stable companies closer to the low end of the range and the smaller less stable companies closer to the high end of the range. 2. After distributions are announced later this month, if it reasonable to assume prices will adjust such that most MLPs will once again fall within the 5%-10% range. Thanks much.
JCarr
when you say fall i assume you mean that yields will fall. If only! Assuming that distributions remain intact; a fall in yields would mean that mlp prices would double from here. However if distributions are cut...unit prices at least are reflecting sizeable distribution haircuts.
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