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

To: Mattyice who wrote (53423)	2/15/2014 1:41:05 PM
From: Spekulatius	1 Recommendation Recommended By Mattyice Respond to of 78714

Re BWP - there is a somewhat more bullish opinion from ARB (a LT poster in IV). He knows his stuff: investorvillage.com As for myself, i don't really know. When we look at EPB for a comparison, the valuation based on EV/EBITDA is actually quite similar on 2014 estimate bases, at about 10-11x multiple. That is a decent valuation and not a great one. EPB has better assets and better management. BWP has credit support from L and possibly a takeout backstop (which is what i would considering if, i were the Tisch's). I also like the fact that BWP does not trade based on yield anymore, but rather on asset value (or should we say lack thereof). There is also upside in BWP financial projections, if NG becomes dearer or even more volatile (because the storage assets become more useful). Right now, I am on the sidelines, but somewhat cheaper, I would probably buy in.