I havent seen the reasons behind the Kinder Morgan (KMP) downgrade but apparently the market doesn't care as this is the thrid downgrade in a week and the stock is up 30 cents and back almost to where it was when the first downgrade came along from Oppenheimer.
The mlp index is up 1.20. The dow is up over 80. Plains All American boosts its payout and the market is boosting its price up 70 cents and is the biggest winner in the group. El Paso (EPD) also lifts the payout on its shares. The stock is up 3 cents.
On the losing side Exterran Partners (EXLP) is down probably in response to the Barrons piece on Exterran Holdings (EXH) which it thinks is overvalued. Sympathy plays sometimes provide opportunities. Regency Partners (RGNC) is down about 60 cents. No news there. Otherwise the mlps on the losing side not giving up too much.
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- 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. I read through some of the KMP downgrades and one of them stated "valuation" as the reason. With a price of $55.81 (around 11:30 AM ET) and a quarterly distribution of $1.05, that produces an annual yield of 7.53%. Think I will hold what I have and possibly buy more if the valuation improves.
Thanks for the comment on KMP,
JCarroll
the fact that the third downgrade is doing nothing to the stock..its up in price..tells me for the time being there are no important sellers left. In bull moves these downgrades are usually good entry points.
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