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Thursday, February 12, 2009

Closed up over 4 points on the mlp index and we are just 1 point or so shy of closing at a 2009 high! The index is up 27 points on the year or +15.4% and that does not include a distribution. The dow is down nearly 10% for 2009. That is a whopping 25% outperformance.

Plains All American (PAA) closed up 2 and change..and Magellan (MMP)Holly Partners (HEP) and Martin Midstream (MMLP) closed up 1 to 1.50 leading the winners.

Nice day overall for our group. Tortoise Energy Infrastructure (TYG) announced a distribtuion of 54 cents which is a 2 cent cut from last quarter however the company says it sees distributions no lower than 54 cents for future quarters and that could be a positive driver here. The stock has rallied from a low of 9 to 22 and change today. No after hours trades so far.

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