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

To: Paul Senior who wrote (52946)	12/8/2013 1:25:30 PM
From: E_K_S	Read Replies (1) \| Respond to of 78732

Marlin Midstream Partners, LP (FISH) - Caught the low Friday for another 15% add at $16.17/share (Note: That was a partial fill too as there were no other sellers at my price . . so maybe the low is in) Based on their stated 2013-2014 distribution of $1.40, the current yield is 8.7%. My average cost is down to $17.50/share. FWIW, I have been booking my gains in some of my preferreds and putting that money into this small cap MLP. (Market Cap $290 Mln; Enterprise Value $319.5 Mln)). Tried to add some of the Boardwalk Pipeline Partners, LP (BWP) you mentioned but was not able to catch the low. That's another one I like below $25.00/share. I may get my chance for another addition of shares next week. EKS

To: Paul Senior who wrote (52946)	1/9/2014 3:58:33 PM
From: E_K_S	Respond to of 78732

MHRpD 8% preferred - MY GTC order at $48.75/share got filled Boardwalk Pipeline Partners, LP (NYSE: BWP) - Moved proceeds into BWP doubling my position @ $24.91/share. BWP has a good ranking and upside rating by Citi in their Midstream MLPs, Valuation Comp Sheets (see pg-2- for chart. I have been using Citi's ranking for selecting MLP's . goo.gl There are also some limited followed MLP's I have been tracking: CMLP & GMLP that I want to add to my basket if/when they fall another 5%. I am finding more relative bargains (at least what I consider bargains) in the MLP sector. This could be that you have to deal w/ K1's (now many can be downloaded electronically) and many are complicated to analyze. You need to look at all the revenue streams, what current and future projects are completed and/or scheduled, what the current year distributions are and management's goal for next year and if systems are at/near capacity. It is also important to look at the long term supplier/customer contracts both the terms and if any special pricing. I am finding the bargains to be those that are the result of recent acquisitions (w/ cost saving synergies and consolidations) and/or mergers where operational regional footprint expands. This provides for future growth and expansion signing multi year gathering contracts for entire operation. Currently I have 19 MLP's representing 25% of the portfolio. My goal is to build this up to a 35% - 40% portfolio position while keeping the current MLP basket size around 20 companies. Many of these are/were bought in lots so my plan is to sell the high priced shares for a small gain and re-deploy the proceeds into new and/or other current names that provide higher yields and/or better future distribution growth. This is still an active project trying to buy value and income. EKS