Holding near the flat line with the dow up 25 points and the mlp index just about unchanged. Inergy LP (NRGY) and Inergy Holdings (NRGP) are both up over 1 point ex distribution on better earnings and raising guidance. Plains All American (PAA) is up over 1 point as well among the list of winners.
Teppco (TPP) among the biggest losers on the board down nearly 1 point and its been down every day since going ex-distibution. The companies earnigns yesterday and a cautious outlook weighing here.
Don't want to read too much into this but Hiland Partners is at 9.24 up 25 cents today and close to the 9.50 offer thats on the table by Harold Hamm. Also we continue to see improvements in the credit markets as rates rise on the long end and even the 3 month bill is yielding something north of .25%! Doesn't hurt. Also...the broader market averages are doing quite well today.
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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. Been reading up on Inergy LP (NRGY) and Inergy Holdings (NRGP); as Spock would say, "Fascinating!" The general partner (NRGP) yields about 1% less than the MLP (NRGY). Understand NRGP has incentive distribution rights above an NRGY distribution threshold. Are the incentive distribution rights the reason investors are willing to accept a lower NRGP current yield; i.e., a lower yield today with the anticipation of getting a larger percentage of the future NRGY earnings?
Still a novice, but learning!
Thanks,
JCarroll
inergy is a good looking mlp in my view and has been among the few mlps that have actually held up. It has always traded at a lower yield to the LP and at a pretty nice premium before the meltdown.
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