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

To: E_K_S who wrote (43766)	8/8/2011 12:36:20 AM
From: Spekulatius	Respond to of 78741

E-K_S - as much as I like the pipeline business, I don't see AGL as a bargain right now. in my opinion it is mostly an utility and regulated as such, rather than falling under the much more favorable FERC regulation for pipelines. For an utility 8x EBITDA is an OK but not a great price, imo. I do think it is time to start hunting for MLP shares. SEP (which is not as expensive as I initially though, due to minority shares in several pipeline operations) may be a good starting point. MLP's often are thinly traded and when the market (and particular the credit markets) is whacky there is a chance to get units for steep discounts. Of course these discounts can always get steeper, as I found out Y2008.