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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (43090)	6/24/2011 10:54:56 AM
From: E_K_S	Read Replies (3) \| Respond to of 78516

Hi Paul - Re: Pipeline Stocks finance.yahoo.com I have been a net seller but always on the look out for new special situations. Here is my Gas_Pipeline watch list but I really need to update it w/ new candidates. I have been using PE as my sole criteria for Buying and Selling. Any forward PE under 13 becomes a Buy candidate and over 15 is a Sell candidate. Companies I have recently sold (or trimmed) include: SE,UGI,ATO,LG,NI,CNP,SUG These are not pure pipeline plays but they have some type of pipeline operation in their company. I am focused on the pipeline operations that deliver product from the U.S. Shale fields to distribution points around the U.S. & Canada. More recently, I have been attracted to NG gathering systems (Midstream operations) in combination with storage & processing infrastructure. I have been studying the growth in NG wells in the Marcellus Shale area, specifically in the Virginia Appalachian region. pipelineandgasjournal.com From the article:"...Transmission The list of major pipelines projects planned, representing greater than 6 Bcf/d of new capacity include Tennessee Gas Pipeline’s 300 Line Expansion Project; Spectra Energy’s Texas Eastern Transmission TEMAX and TIME III Projects; NiSource’s Marcellus Pipeline, Columbia Penn, Line 1804 Expansion and 1711 Pipeline Corridor; Dominion’s Appalachian Gateway Project; Williams-Dominion Keystone Connector Pipeline; and National Fuel Gas Supply’s Lamont PA Expansion, Line N Expansion, West-to-East (W2E) Project and Appalachian Lateral Pipeline. These are just some of the new pipeline and expansion pipeline projects in the works. Others are being planned to meet demand from producers across Marcellus...." *Note: This section of the article discusses several companies w/ projects and/or operations key to capacity expansion in this region. IMO, this is the "Honey Hole" where the values will be found.* There are a lot of new projects from both small and large players. I believe there are better "pure" plays in this group. I am still making my way through this article and picking out the companies in their list. I plan to update my Gas_Pipeline watch list once i complete this review. FWIW Triad Hunter (the new operating division for MHR - triadhunter4tyler.com ) and their Eureka Hunter Pipeline project is mentioned. I have my eye on this project and who the other major players might be. EKS