IPPs and Merchant Energy Co.s Message Board

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Strategies & Market Trends : IPPs and Merchant Energy Co.s

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To: Larry S. who started this subject	10/10/2002 5:58:52 PM
From: ItsAllCyclical	Read Replies (1) of 3358

Picked up more EP. By far my fav. in the sector due to it's diversity within the energy business. Per annual report (EBIT by segment): 32% Merhcant Energy 34% Pipelines (largest operator in country) 28% Production (E&P natural gas/oil) 6% Field services FERC ruling will get overturned most likely or some sort of compromise will be reached short of a huge fine. Jim P. has a great summary here. Also for those that are Baird clients read their latest research on the FERC ruling. Message 18090051 TA wise wasn't crazy about the action today, but it is still making higher lows the past three days. I look for it to base around 5.25 to 5.70 for a few more days before trading back to 6.5 to 7.5 within a few weeks at most. Need to get the FERC ruling uncertainty lifted before we can trade over 9, but beyond that it should be a 3-4 bagger from these levels over the next 12-18 months. My basis is around 5.35 now. I'm already overweighted so I'm only going to add if 5 or less is seen. Dumped ILA for a small loss. MIR looks interesting here as does AEP, TXU, DUK, UTH, XEL and CNP.

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