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

To: Paul Senior who wrote (51078)	3/11/2013 2:10:40 PM
From: E_K_S	Respond to of 78958

ONEOK Partners, L.P. (OKS) Followed you into OKS w/ a starter position. Other names that I am watching that show good $EBITDA/share (less than 10), a reasonable debt profile (Net Income/LT Debt 10x or less; the lower better), yield above 5% w/ potential to grow. Many of these have already run pretty high, so my plan is to pick off names from this list when I see a 10% correction or more. Link for complete list: Currently I already own starter position(s) in: WPZ, EPB, KMP (by buying CPNO), ETP, APL an now OKS. ETP has more debt than I like but you have to weigh their debt load vs the $EBITDA/share. Many of these MLP's have way too much debt to net income (over 20x). Even with good coverage any hick-up with cash flow, the house of cards could come falling gown. The Enbridge family (located in Canada) are good yield payers but they tend to be on the high end for debt load. Also not too sure what the impact Foreign Taxes are (in a taxable account) on these so I may have to adjust the the yield to reflect this extra expense. Also, two special MLP situations I like : Exterran Partners, L.P. (NasdaqGS: EXLP) & Summit Midstream Partners, LP (NYSE: SMLP). These companies provide both construction & maintenance services and NG facility "compression". Each are expanding their compression facility assets which I like. Future cash flows for services are not a guarantee but in the current environment it is growing fast. Both of these companies are still selling too high IMO and need to correct 10%-15% before I nibble at a few shares. The market Cap of each are small enough that they become possible "bolt-on" MLP's for the larger players like EPD, KMP, or WPZ. I would pay a small premium but not what these have in them (especially in last week + 10% and more). EKS