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Thursday, April 21, 2011

KINDER MORGAN, ONEOK HIKE PAYOUTS!



Earnings came out after the close for Kinder Morgan Partners (KMP) and as usual there were no real surprises and they hiked the payout for the 5th straight quarter and in 40 of the last 55 quarters. Oneok LP (OKS) also hiked its payout one cent to 1.15 from 1.14. In both cases its probably already baked into the stock price so i wouldn't expect much movement. Citigroup is on the horn this morning and it raises Sunoco Logistics (SXL) to buy from hold and takes its price target to 97 bucks. Citigroup also cuts Nustar (NS) to hold from buy and lowers the target there to 72 from 75. This mlp has been a chronic underperformer. And Transmontaigne (TLP) gets its target raised a buck to 38 while being kept at a hold. Sunoco Logistics is bid up 1 in the premarket. And Suburban Propane (SPH) announces its payout of .8525 (you got to love 1/4 cents).

The overall market this morning is taking its cue from excellent earnings that just continue to roll in above expectations. All the dow components this morning reporting beat estimates so stock futures are stronger again today after yesterday's powerful up day. Crude and nat gas are higher with nat gas inventory numbers out at 10:30am. Markets will probably trade firm into the close ahead of a three day Easter weekend.

Busy here around the house as daughter number 1 is getting married in 6 days plus Easter preps!!! Thank God we don't have 6 dollar gas yet.











But it could be soon if this CNBC guest this morning is correct.

2 comments:

mike said...

i see TLLP priced at the top end and rallied to 23.5...yield now under 6...reminds me of VLI which was had the similar relationship with VLO until it merged with Kaneb and then later got into the asphalt biz with that massive acquisition from Citgo....ultimately changed its name to NuStar which as you mentioned is been a horrible performer although it did oupterfrom for 09-10. I only point it out as now we have TLLP trading at a premium to NS and almost in line with NSH

David said...

good interviews out on The Wall Street Transcript this week -- check out them out at http://www.twst.com/tt/info/info2030.htm