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Tuesday, July 19, 2011


Among the most damaged MLPS during 2008 was Crosstex Energy (XTEX,XTXI) which pretty much lost it all and was circling the drain at a buck a share but that seems like a million years ago. The company has done all the right things and they are hiking the distribution to 31 cents on the LP and 10 cents on the GP. Both stocks have rallied into this number so im not sure if there is more upside on the news. However when the company announces earnings in a few weeks, should they continue to indicate further recovery and more payout hikes, the stock could have room to run.
Kinder Morgan (KMP) will start the earnings parade tomorrow after the close. Meanwhile we have stock futures higher this morning as Italian and Spanish bonds rally. The debt charade here continues but it continues to have absolutely no impact on bond yields. The latest news and commentary is on Memeorandum as we move toward August 2nd.

No other news and no upgrades or downgrades. However there has been attention to EV Partners (EVEP) off the Petrohawk (HK) takeover. The stock has broken out above 60 and continues to make new 52 week highs. The company has risen 6 fold since the 2008 bottom.

They should all have behaved this way! Crude is up this morning but nat gas is a touch lower ahead of the open. Rates are flat.

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