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Strategies & Market Trends : Value Investing

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To: Spekulatius who wrote (54098)	8/11/2014 11:34:45 PM
From: Spekulatius	Read Replies (1) of 78594

KMI stock got a bump and KMP/KMR/EPB and even nicer bump from todays announcement. I would have thought that a combination favors the KMI GP more than the LP's but they had to doit in a way that the LP holders won't revolt about the lower yield going forward. I think this deal also has some negatives, as it increases the overall leverage a bit (due to the cash component of the deal), but I am pretty sure that they structure this so that they stay investment grade (BBB- or better) , because it makes continued access to capital much easier. I have a substantial position in KMI - more than 5% in my IRA and ~6% in my taxable account.

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