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Tuesday, November 13, 2007

MORE SUPPLY AS NUSTAR OFFERS SHARES



The MLP index has at least diverged with the dow as we are still 12 points above the August lows. We're up at the open this morning along with everything else. But there is still the problem with supply. Nustar is doing an offering of shares so that puts pressure on that stock price which is down 1 dollar this morning. Merrill Lynch downgrades the stock to a sell from a hold...don't see sell ratings too often on stocks. Eagle Rock Partners (EROC) will be putting up earnings after the close today.

Inergy Holdings (NRGP) is up nearly 3 dollars this morning as today's big winner. Encore Partners (ENP) up 1 and change and so is EV Partners (EVEP) and Hiland (HLND). Calumet is down another 50 cents and K-SEA (KSP) down over a point as the biggest loser.

2 comments:

Anonymous said...

Joe,

Do you know the reason for the NS downgrade? Was it solely the supply issue?

Thanks,
Bruce

joewxman said...

not sure...did not see anything but i'll check around