Vanguard Natural Resources Inc. (fka VNRRQ)

[ciciagt]

Vanguard's Management Discusses Q4 2011 Earnings Results - Earnings Call Transcript
http://seekingalpha.com/article/406351-vanguard-s-management-discusses-q4-2011-earnings-results-earnings-call-transcript?source=yahoo

"In summary, 2011 was a great year for Vanguard. We managed to achieve excellent results on all fronts and most of all successfully completed the Encore acquisition and the full integration of the two companies. Our results are a reflection of the efforts of our employees and their hard work on behalf of the company to achieve its goals. With the addition of accretive acquisitions and associated increase in our cash flow, we were able to increase distributions 5% in 2011 and an overall distribution growth of approximately 38% since 2008.

We’re extremely proud of the fact that this 38% increase is the highest in our peer group over this period of time. It continues to be our goal to judiciously increase our distribution in a manner that we feel is sustainable for the long term. Our current distribution is $2.35 per year. Our 2012 guidance suggests we’ll have a distribution coverage ratio between 1.35 and 1.4 times and based on yesterday’s closing price of $27.54 we’re trading at an attractive 8.5% yield which is approximately 100 basis points higher than our oil focused peers."