ATLAS PIPELINE SELLS AND
(MAYBE) WILL DISTRIBUTE!

Atlas Pipeline Partners (APL) will be a mover this morning and possibly in a big way as it is selling assets to Enbridge Energy Partners(EEP), but more importantly the company says that it is in position to resume distributions in Q4. The company is also giving 2011 projections of distributable cash flow of $1.80 to $2.60 so being conservative...we could be looking at a quarterly distribution from 40 cents to 55 cents per unit. No trades yet in the pre market but its nice to see an old favorite coming back to the land of payouts. And as everyone knows with MLPS its all about distributions. Also this morning Eagle Rock is exercising its rights to buy its GP.

We are coming off a 6 point mlp index loss and this morning we are going to see technical pressure as Kinder Morgan (KMP) and Oneok (OKS) go ex distribution. Also we are seeing 10 year rates back over 3 and i think this has begun spooking some of the late money that has moved in here. Nothing tragic mind you but the unrelenting push higher that began a few weeks ago seems to have run its course just shy of all time highs.

Stock futures are a little higher now after being flat most of the night. The dollar is lower and rates are ticking a shade higher pre open. Crude is a little lower and nat gas is a little higher. Headlines as they break. Noticing some stock for sale on Spectra Energy Partners (SEP) but no news headlines that i see.